SKYX Platforms Corp.

SKYX said Q2 2026 sales increased 14% to a record $25.3 million, versus $22.1 million in Q1 2026 and $23 million in Q2 2025. Revenue for the six months ended June 30, 2026 rose 10% to a record $47.4 million from $43.2 million a year ago. Gross profit increased 4% year over year to $7.3 million in Q2 and 10% year over year to $13.9 million for the first six months. Cash, cash equivalents, and restricted cash totaled $27.7 million at June 30, 2026, versus $10.1 million at December 31, 2025, and net cash used in operating activities fell about 39% to $3.7 million from $6 million in Q1 2026. The company also said it reduced interest-bearing debt by $2 million. Management did not give formal quarterly or full-year revenue guidance, but said it believes it has sufficient cash to achieve its goals, including becoming cash flow positive as it exits 2026, and expects to have 100,000 units in market by end-2026.

Ronnie Kohen emphasized the company’s progress in hotel and builder channels, saying the value proposition is strongest there because the products can save up to 90% of installation and renovation time and cost. He also framed the business as having a future recurring revenue layer from AI services, monitoring, subscriptions, upgrades, and interchangeability. His tone was optimistic and forward-looking, with repeated references to progress on code standardization, insurance discussions, and a soon-to-launch AI-driven software platform.

Leonard Sokolow focused on the hard financials: record Q2 revenue of $25.3 million, six-month revenue of $47.4 million, Q2 gross profit of $7.3 million, six-month gross profit of $13.9 million, and cash plus restricted cash of $27.7 million. He highlighted that net cash used in operations fell to $3.7 million in Q2 from $6 million in Q1 and that debt was reduced by $2 million. He did not provide detailed margin or capital allocation guidance beyond noting the stronger liquidity position and continued operational improvement.

Analysts pressed on the decline in gross margin to 29% from 30% in Q1, and management said the mix is shifting toward higher-margin products as the turbo heater fan and builder/hotel products scale, which should help margins in coming quarters. Questions also focused on the 1 million-unit pipeline and the 100,000-unit 2026 target; management said shipments are starting this quarter and continuing into Q4 and Q1 2027, and that the 100,000-unit goal still looks on plan. On Gen 3, management said it already has production samples testing well, but mass production is waiting on FCC and other regulatory approvals. Management also described Eurofase as a licensing relationship that could open the door to more similar agreements as the company expands in pro and hotel channels.