SQL Technologies Corp
NASDAQ:SKYX
SQL Technologies Corp
SQL Technologies Corp. engages in the development of connect devices used in the installation of lighting fixtures and ceiling fans. The company is headquartered in Johns Creek, Georgia. The company went IPO on 2015-07-21. The Company’s technology consists of weight bearing, fixable socket and a revolving plug for conducting electric power and supporting an electrical appliance attached to a wall or ceiling. The socket consists of a non-conductive body that houses conductive rings connectable to an electric power supply through terminals in its side exterior. The plug is also consists of a non-conductive body, where houses corresponding conductive rings, attaches to the socket via a male post and is capable of feeding electric power to an appliance.
SQL Technologies Corp. engages in the development of connect devices used in the installation of lighting fixtures and ceiling fans. The company is headquartered in Johns Creek, Georgia. The company went IPO on 2015-07-21. The Company’s technology consists of weight bearing, fixable socket and a revolving plug for conducting electric power and supporting an electrical appliance attached to a wall or ceiling. The socket consists of a non-conductive body that houses conductive rings connectable to an electric power supply through terminals in its side exterior. The plug is also consists of a non-conductive body, where houses corresponding conductive rings, attaches to the socket via a male post and is capable of feeding electric power to an appliance.
Record Revenue: SKYX reported third quarter revenue of $24 million, up from $23 million in the second quarter, marking seven consecutive quarters of growth.
Gross Margin Improvement: Gross margin increased to 32% in Q3 from 30% last quarter, and gross profit rose to $8 million, up 8% sequentially.
Progress Toward Profitability: Net loss per share decreased to $0.07 from $0.08 last quarter, and management expects new product launches to drive the company close to cash flow positive soon.
Major Strategic Agreements: Signed new deployment deals with Global Ventures Group for large Middle East projects, and with major developers in Austin, Texas, and Miami's Smart City project.
Product Launches: Upcoming launches of the patented Turbo heater fan and a variety of Plug & Play ceiling fans anticipated to drive near-term sales.
AI and E-Commerce Initiatives: Launching a new AI-driven e-commerce platform across 60 websites, aimed at increasing conversion rates by 30%, with full rollout expected by Q1 or Q2 2026.
Strong Cash and Support: Ended Q3 with $13 million in cash and equivalents; raised an additional $5 million from leading shareholders, with existing notes restructured to mature in 2030.
