SKYX Platforms (NASDAQ: SKYX), a smart home technology company, announced a corporate update revealing a combined SKYX and Deako pipeline estimated at more than 4 million units, with an expected average selling price of approximately $50 per product. This substantial pipeline signals growing demand for the company's advanced electrical and smart home solutions across residential and commercial markets.
The announcement underscores SKYX's expanding footprint in the hospitality and residential construction sectors. Deako, which SKYX is in the process of merging with, recently revealed plans to supply over 80,000 units to 1,000 Maronda Homes residences. Meanwhile, SKYX has signed agreements to provide technology for two 65-story Trump Towers in Hyderabad, India, and a Marriott hotel renovation in Durham, North Carolina. These high-profile projects demonstrate the versatility and appeal of SKYX's product offerings in diverse geographic and market segments.
Financially, the company expects its merger with Deako to reduce annual cash expenses by more than $6 million and potentially increase Deako revenue per home by up to fivefold. SKYX reported $27.7 million in cash, cash equivalents, and restricted cash at the end of the second quarter of 2026, alongside 10 consecutive quarters of year-over-year growth. The company is targeting positive cash flow as it exits 2026 and anticipates increased seasonal sales of its patented Turbo Heater Fan. These financial indicators suggest a strengthening balance sheet and a clear path toward profitability.
SKYX also highlighted licensing agreements, planned artificial intelligence-driven e-commerce enhancements, and continued efforts to establish mandatory safety standards for its electrical ceiling outlet technology. The push for safety standards could position SKYX as an industry leader and create barriers to entry for competitors, further solidifying its market position. For a full overview of the announcement, refer to the complete press release.
Investors and industry observers can stay updated on SKYX's developments through its newsroom at https://ibn.fm/SKYX. The update was distributed by InvestorWire, a specialized communications platform that is part of the Dynamic Brand Portfolio at IBN. InvestorWire provides services including editorial syndication to 5,000+ outlets and corporate communications solutions. The implications of this announcement are significant: SKYX is not only expanding its order book but also improving its cost structure and advancing regulatory standards, which could enhance long-term shareholder value and accelerate adoption of its smart home technologies.
