Curated News
By: NewsRamp Editorial Staff
September 16, 2026
Skkynet Q3 Revenue Jumps 16% as Subscription Shift Accelerates
TLDR
- Skkynet's Q3 revenue grew 16% and cash rose 11%, funding global sales expansion without new equity dilution.
- Skkynet shifted to subscriptions, accelerating revenue growth and building deferred revenue through regional sales leadership and product upgrades.
- Skkynet's secure data connectivity and industrial AI aim to make industrial operations safer and more efficient worldwide.
- Skkynet's DataHub Version 11.1 adds audit and UDP features, enhancing security and compatibility with data diodes.
Impact - Why it Matters
Skkynet’s accelerating revenue growth and expanding deferred revenue signal that its subscription transition is gaining traction, which could lead to more predictable and higher-quality earnings. The build-out of global sales leadership and participation in major industry events position the company to capture growing demand for secure industrial data connectivity and edge processing. The Industrial AI initiative, supported by non-dilutive government funding, aims to address the unique security, auditability, and real-time requirements of industrial customers—an area often overlooked by consumer AI solutions. As industries increasingly adopt AI and cloud technologies, Skkynet’s secure-by-design architecture and 25-year track record could make it a key enabler of the AI-driven industrial future. For investors, the strengthening balance sheet and broadening customer base suggest a solid foundation for long-term growth.
Summary
Skkynet Cloud Systems, Inc. (OTCQB: SKKY), a global leader in industrial software for secure, real-time data connectivity and edge processing, reported third-quarter and nine-month financial results for the period ended July 31, 2026. Revenue for Q3 jumped 16% year-over-year to $560,504, marking the second consecutive quarter of growth and a sharp acceleration from the 4% increase in Q2. Deferred revenue climbed 17% to $406,694 from fiscal year-end, reflecting a growing base of subscription contracts that will drive future recognized revenue. Cash and cash equivalents rose 11% to $1,585,566, and working capital increased 7% to $1,098,795, even as the company invested in growth initiatives. The company also secured $329,919 in refundable SR&ED investment tax credits and drew $220,706 under a non-interest-bearing FedDev Ontario Industrial AI Initiative loan.
CEO Gary Tillery called Q3 an inflection point, noting that the strategic shift from perpetual licenses to subscriptions is now maturing. The company completed its regional go-to-market leadership build-out with dedicated Vice Presidents of Sales: Michael Quartarone (Americas), Martin J. Rempel (Europe & Africa), and Arpit B. Patel (APAC & Middle East), who joined in Q3. This expanded team supported global engagement at major industry events including Hannover Messe, AVEVA World, the CSIA Conference, EXPONOR, and AVEVA Enable. North America revenue grew 12% to $777,987, representing 45% of nine-month sales, while Asia Pacific and the Middle East together accounted for 17% of revenue. Subscription revenue reached 13% of nine-month sales, up from 12% a year earlier, and support revenue rose 6% to $641,040. The customer base also broadened, with 29 end-user customers representing about 50% of gross revenue, up from 19 a year ago.
Skkynet’s Industrial AI initiative, backed by up to $1.9 million in FedDev Ontario funding, is progressing on schedule. The latest release, Cogent DataHub® Version 11.1, adds AVEVA CONNECT support, a new Audit feature for configuration traceability, and UDP support for tunnelling and mirroring to enhance security with data diodes. Tillery emphasized that all investments were funded from cash flow and non-dilutive sources, with no new equity issued. For more information, visit skkynet.com.
Source Statement
This curated news summary relied on content distributed by NewMediaWire. Read the original source here, Skkynet Q3 Revenue Jumps 16% as Subscription Shift Accelerates
