The following is a summary of the SKYX Platforms Corp. (SKYX) Q4 2023 Earnings Call Transcript:

Financial Performance:

• SKYX Platforms Corp. generated a record revenue of $58.8 million in 2023, a significant increase from $32 million in 2022.

• Cash and investments available increased to $22.4 million as of December 31, 2023, up from $16.8 million in 2022.

• Gross profit for 2023 was $18 million or 31% of revenue, positively impacted by the acquisition of Bellamy e-commerce platform.

• Stockholder equity rose to $16.6 million in 2023, more than doubling from $7.9 million in 2022.

Business Progress:

• SKYX has entered the Canadian market and begun selling its products, expecting them to be in tens of thousands of homes during the current calendar year.

• Product development and innovation benefited from a global licensing partnership agreement with GE and collaborations with leading lighting companies like Kichler, QUOIZEL, and Golden Lighting.

• The firm anticipates a cash flow positive position by 2025, due to such collaborations and an expanded product line.

• SKYX holds 77 U.S. and global patents, with the focus on accelerating market penetration of their technology.

• Hints of their product becoming a standard safety requirement due to efforts in safety-mandated filings.

• Plans are underway to expand product compatibility, with over 40,000 fixtures currently compatible with SKYX's products.

More details: SKYX Platforms IR

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