SKYX Platforms reports Q2 revenue $15M

The company said, “The second quarter of 2023 was highlighted by our first significant revenues that include sales and rollout of our ceiling smart and standard plug and play products that are now on 16 leading U.S. and Canadian websites. Despite being a partial quarter, it showed what we believe is a promising cadence of sales with a robust gross margin profile, notably reducing the cash burn of SKYX on a sequential basis. In addition to the acceleration of marketing, distribution channels, and sales to both professional and retail segments, the websites are expected to provide additional cash flow to the Company, which, when combined with our existing cash, should be sufficient for at least 18 months of operations. We are encouraged by our commercial journey’s momentum, paving the way for our standardization efforts.”