SKYX Platforms (SKYX) Q1 2026 earnings summary

Executive summary

• Achieved record Q1 2026 revenue of $22.1 million, up 10% year-over-year, marking nine consecutive quarters of growth, driven by higher unit sales and product innovation.

• Gross profit rose 16% to $7.07 million, with gross margin improving to 30% from 28% year-over-year.

• Cash and cash equivalents increased to $32.3 million as of March 31, 2026, up from $10.1 million at year-end 2025, mainly due to equity financing.

• Net loss for Q1 2026 was $9.3 million, with net loss per share narrowing to $0.07 from $0.09 year-over-year; adjusted EBITDA loss per share improved to $0.03 from $0.04.

• Strategic partnerships, product launches, and AI-driven e-commerce upgrades expanded market reach in the U.S., Europe, and globally.

Financial highlights

• Revenue for Q1 2026: $22.1 million, up from $20.1 million in Q1 2025.

• Gross profit: $7.07 million, a 16% rise year-over-year.

• Gross margin: 30% in Q1 2026, up from 28% in Q1 2025.

• Net loss: $9.3 million, compared to $9.1 million in Q1 2025.

• Adjusted EBITDA loss: $3.89 million, improved from $3.62 million year-over-year.

Outlook and guidance

• Management expects sufficient cash to achieve cash flow positivity by the end of 2026.

• Anticipates deployment of over 1 million units in upcoming projects and over 100,000 units in homes by end of 2026.

• Generation 3 All-in-One Smart Platform hub on track for launch by mid to late 2026.

• Ongoing expansion into European and Middle Eastern markets, including major hotel and smart city projects.

• Selling, marketing, and administrative expenses expected to remain stable year-over-year.