The following is a summary of the SKYX Platforms Corp. (SKYX) Q1 2024 Earnings Call Transcript:

Financial Performance:

• SKYX Platforms Corp. reported Q1 2024 revenues of $19 million, a slight increase from $18.6 million in Q1 2023.

• The company recorded $19.8 million in cash and cash equivalents, which is a drop from the $22.4 million as of December 31, 2023.

• SKYX posted a net cash loss of $5.1 million, and a net loss of $9.7 million or $0.10 per share in Q1 2024.

• The management expects SKYX to turn cash flow positive by 2025.

Business Progress:

• The company has announced collaborations with leading lighting companies, including Ruee Appliances, Kichler, Quoizel, and Golden Lighting.

• SKYX's patent portfolio has expanded to include over 90 U.S. and global patents.

• The company is rapidly advancing its smart home and AI technologies, underpinning a portfolio of 60 websites for lighting and home decor.

• SKYX has begun selling to builders and professional segments through its e-commerce platform, and its smart home technology is projected to be installed in tens of thousands of homes within the next year.

• The company is anticipating significant new partnerships and collaboration opportunities in the months ahead.

• SKYX's collaborations with other global brands and its work on product standardization for the industrial segment is also giving momentum to their business growth.

More details: SKYX Platforms IR

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