Curated News
By: NewsRamp Editorial Staff
November 13, 2026
SKYX Q3 Revenue Grows 7.4% to $25.7M, Deako Merger Boosts Pipeline
TLDR
- SKYX Q3 revenue rose 7.4% to $25.7 million, gross margin improved to 31.4%, and its Deako merger cuts $6 million in annual costs.
- SKYX grew Q3 revenue 7.4% to $25.7 million, improved gross margin to 31.4%, and cut its adjusted EBITDA loss to $2.9 million.
- SKYX's plug-and-play smart home tech, now merged with Deako, aims to make safer, smarter living standard in over 2,500 new homes.
- SKYX's merger with Deako combines ceiling and wall plug-and-play tech, creating a pipeline of about 4 million product units through 2027.
Impact - Why it Matters
SKYX's solid third-quarter results, with revenue growth and margin expansion, demonstrate the company's ability to execute and improve profitability. The completed Deako merger significantly strengthens SKYX's position in the smart home market by combining ceiling and wall plug-and-play technologies, creating a comprehensive ecosystem. The three builder programs with Maronda Homes, Home Creations, and Stone Martin, representing over 210,000 units across 2,500+ homes, validate the demand for SKYX's solutions and provide a clear revenue trajectory through 2027. The estimated combined pipeline of 4 million units and the expected $6 million in annual cash expense reductions further enhance the company's financial flexibility and scalability. As the smart home and AI platform market continues to grow, SKYX's expanded product portfolio and partnerships position it to capture a larger share of the market, benefiting investors and consumers alike.
Summary
SKYX Platforms (NASDAQ: SKYX), a developer of advanced smart home and AI platform technologies, reported third-quarter 2026 financial results with revenue rising 7.4% year over year to $25.7 million from $23.9 million. Gross profit increased 11% sequentially to $8.1 million, and gross margin improved to 31.4% from 28.9% in the prior quarter. The company ended the quarter with $21 million in cash, cash equivalents and restricted cash, up from $10 million at year-end 2025. Net cash used in operating activities fell 15.5% year over year to $4.2 million, while adjusted EBITDA loss narrowed 18.7% sequentially to $2.9 million.
After quarter-end, SKYX completed its merger with Deako on Oct. 13, 2026, combining ceiling-based and wall-based plug-and-play smart home technologies. The company announced three builder programs with Maronda Homes, Home Creations and Stone Martin, representing more than 210,000 expected product units across over 2,500 homes, with deliveries anticipated through 2027. The combined SKYX and Deako pipeline is estimated at approximately 4 million units, and the merger is expected to reduce annual cash expenses by more than $6 million. SKYX also highlighted expansion opportunities in hospitality projects in India, the U.S. and Europe, and plans to introduce additional models of its Turbo Heater Ceiling Fan through national retail and e-commerce channels.
For the full press release, visit https://ibn.fm/5kiBA. The latest news and updates relating to SKYX are available in the company’s newsroom at https://ibn.fm/SKYX. The release is distributed by MissionIR, a specialized communications platform within the Dynamic Brand Portfolio @ IBN, which provides access to InvestorWire, editorial syndication to 5,000+ outlets, press release enhancement, social media distribution, and corporate communications solutions.
Source Statement
This curated news summary relied on content distributed by InvestorBrandNetwork (IBN). Read the original source here, SKYX Q3 Revenue Grows 7.4% to $25.7M, Deako Merger Boosts Pipeline
