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what it is
SkyX makes hardware and software that help lights and ceiling fans connect to power faster.
how it gets paid
Last year Skyx Platforms made $86M in revenue. SQL Technology systems was the main engine at $34M, or 40% of sales.
what just happened
Revenue hit $67M, while EPS was still a $0.24 loss.
At a glance
C++ balance sheet — some cracks in the foundation
-$0.36 fy2024 eps est
$86M fy2024 rev est
37.2% operating margin
1 beta
xvary composite: 32/100 — weak
What they do
SkyX makes hardware and software that help lights and ceiling fans connect to power faster.
You are not buying a generic gadget. You are buying 75+ patents and final electrical code approvals, which make the install path harder to copy. With 76 employees, SkyX does not need giant scale. It needs your building code to keep doing the selling.
How they make money
$86M
annual revenue
SQL Technology systems
$34M
+181.0%
Smart Sky Platform licenses
$21M
+120.0%
Fan connection kits
$14M
+95.0%
Lighting accessories
$9M
+60.0%
Support and other
$8M
+30.0%
The products that matter
electrical connection hardware
Sky Plug Outlets
core platform · addresses a $20B+ market
this is the core product set aimed at a $20B+ global electrical installation market. big markets do not guarantee wins, but they at least answer the first question: if adoption works, the opportunity is not tiny.
core story
smart-home product expansion
Smart Home Modules
announced feb 2026 · backed by $33M funding
the new line was announced in February 2026 after a $33M funding round. in human-speak: management is expanding while the core business is still unprofitable, so execution risk just got an extra layer.
execution watch
Key numbers
$86M
annual revenue
This is the size of the business, and it is small next to the $31M debt load.
37.2%
operating margin
For every $100 of sales, SkyX lost $37.20 before taxes and interest.
$31M
long-term debt
Debt is 12% of capital, so one bad year matters fast.
28.3%
gross margin
The product makes money before overhead, which means costs are the problem.
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 5 — safer than 5% of stocks
- price stability 5 / 100
- long-term debt $31M (12% of capital)
C++ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for SKYX right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Revenue hit $67M, while EPS was still a $0.24 loss.
Sales were up 181% from a year earlier. Gross margin held at 28.3%, so the problem sits below the gross line.
$67M
revenue
-$0.24
eps
28.3%
gross margin
revenue
The $67M quarter matters because it was 181% above last year, but the company still lost $0.24 a share.
source: company earnings report, latest quarter
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What could go wrong
the central risk is simple: SKYX needs the plug story to scale before the cash balance forces its hand.
high
negative operating cash flow is running ahead of the cash balance
cash from operations over the last twelve months was -$16.61M, against only $7.83M of cash on hand in the most recent quarter.
if operations do not improve, more financing moves from possibility to probability
high
the legal overhang is showing up at the wrong time
the class action complaint tied to Ahmad vs. Belami, Inc. et al. names Skyx Platforms Corp. as a defendant. that is extra noise for a company already working with a C++ balance sheet.
management attention and capital both get less flexible when legal issues arrive before the model is proven
med
the licensing story is not lifting margins yet
licensing and royalties account for $21.5M of revenue, but gross margin is still only 28.3%. that's not what a richly monetized IP model usually looks like.
if margins stay stuck here, revenue growth alone does not fix the thesis
med
new distribution and new products still have to prove sell-through
the Home Depot launch and the February 2026 smart-home module announcement expand the story, but expansion does not automatically mean efficient demand.
if sell-through disappoints, the company adds complexity without getting the margin benefit investors need
a -39% net margin on $86M of revenue and -$16.61M of operating cash flow means dilution or new financing stays on the table until unit economics improve.
source: institutional data · regulatory filings · risk analysis
Pay attention to
earnings
Q4 2025 earnings report
expected around March 23–24, 2026. consensus calls for $25.12M in revenue and EPS of -$0.07. you want growth to continue without the cash story getting worse.
risk
litigation developments
the Ahmad vs. Belami matter is the clearest near-term non-operating threat. small companies do not absorb legal distractions gracefully.
distribution
Home Depot sell-through
the February 2026 retail launch matters only if it turns into recurring product sales rather than a one-quarter headline.
unit economics
gross margin and cash balance
28.3% gross margin and $7.83M of cash are the two pressure gauges. if those do not improve, the rest of the story gets expensive for you fast.
Analyst rankings
coverage depth
thin
there is not much broad analyst coverage here. in human-speak, you are not getting a deep consensus to lean on.
estimate visibility
limited
we have revenue and EPS expectations for the next report and full year, but not the dense estimate stack you get with larger names. that makes each quarter matter more.
source: institutional data
Institutional activity
institutional ownership data for SKYX is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$2
current price
n/a
target midpoint · n/a from current
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