UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 For the transition period from to Commission File Number: 001-41276 SKYX Platforms Corp. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (IRS Employer Identification No.) Florida 46-3645414 2855 W. McNab Road Pompano Beach, Flori ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 17, 2025 SKYX PLATFORMS CORP. (Exact name of Registrant as Specified in its Charter) (Commission File Number) Florida 001-41276 46-3645414 (IRS Employer Identification No.) (State or other jurisdiction of incorporation) 2855 W. McNab Road Pompano Beach, Florida 33069 (Address of principal ...

Core Insights - SKYX Platforms Corp. reported a significant surge in sales of its advanced and smart home products, with an increase of over 1,000% expected to reach 20,000 units/homes by Q1 2025 and tens of thousands more throughout 2025 [1] - The company achieved revenue growth for four consecutive quarters in 2024, culminating in record sales of $23.7 million in Q4 2024 [1][5] - Management anticipates becoming cash flow positive in the second half of 2025, supported by significant projects and orders [1][5] Financial Performance - SKYX's revenue grew by 48% in 2024, from $58.8 million in 2023 to $86.3 million in 2024, with Q4 2024 revenue of $23.7 million compared to $22.2 million in Q4 2023 [5][7] - The company reported a gross profit of $24.6 million in 2024, representing 28% of revenue, positively impacted by the acquisition of the Belami e-commerce platform [7] - As of December 31, 2024, cash and cash equivalents amounted to $15.5 million, up from $13.0 million as of September 30, 2024 [5][8] Strategic Partnerships and Market Expansion - SKYX collaborates with major retailers such as Home Depot and Wayfair to expand its advanced and smart plug & play product offerings [7] - The company has secured partnerships with leading lighting companies and prefabricated home manufacturers to integrate its technologies into new developments [7] - A strategic partnership with JIT Electrical Supply aims to enhance SKYX's distribution in the electrical and lighting markets, targeting over 100,000 U.S. homes [7] Safety and Standardization Efforts - SKYX's safety code standardization team is working towards mandatory safety standards for its ceiling technology, with expectations of support from additional safety organizations [1][6] - The company believes its products can significantly reduce risks such as fires and electrocutions, potentially saving insurance companies billions annually [6]

Core Insights - SKYX Platforms Corp. reported consistent revenue growth throughout 2024, with revenues increasing from $19 million in Q1 to $23.7 million in Q4 [1][5] - The company secured a total of $12 million in preferred funding, including a recent $1 million announcement, led by The Shaner Group [1][10] - SKYX aims to have its smart plug & play products in 20,000 homes/units by the end of Q1 2025 across the U.S. and Canada [2][6] Financial Performance - Revenues for 2024 were as follows: $19 million in Q1, $21.4 million in Q2, $22.2 million in Q3, and $23.7 million in Q4, indicating a steady increase [1][5] - The strategic funding of $11 million was secured in October 2024, with a focus on enhancing growth strategies and achieving cash flow positivity in 2025 [10] Strategic Partnerships and Collaborations - Collaborations with Cavco Homes and Forte Developments will integrate SKYX's technologies into high-end homes and luxury developments, respectively [6][10] - A partnership with Wayfair will introduce smart plug & play lighting and ceiling fan products to the retail market [10] - JIT Electrical Supply will distribute SKYX's lighting solutions, expanding its footprint in the electrical and lighting markets [10] Leadership and Market Expansion - The appointment of industry veterans, including Huey Long and Greg St. John, aims to strengthen market penetration and expand product offerings [6][7] - The company continues to enhance its market presence and strategic partnerships to accelerate the adoption of its technologies [3][7]

Core Insights - SKYX Platforms Corp. has appointed Huey Long, a seasoned e-commerce executive with extensive experience at Amazon, Walmart, and Ashley Furniture, to lead its e-commerce platform [1][3][4] - The company aims to leverage Long's expertise to enhance sales and market penetration of its advanced and smart home plug & play technologies in the U.S. and Canadian markets [2][4] Company Overview - SKYX Platforms Corp. is a technology company focused on advanced and smart home solutions, holding over 97 issued and pending patents globally and managing a portfolio of more than 60 lighting and home décor websites [1][5] - The company's mission is to establish its technologies as a standard in homes and buildings, emphasizing safety, quality, and ease of use [5] Leadership and Strategy - Huey Long is recognized for his strategic vision and operational excellence, bringing 28 years of experience in e-commerce and omnichannel retail to SKYX [3] - Long's previous roles include Director at Amazon, where he led the development of Amazon Basics, and Senior Vice President at Walmart, showcasing his capability to drive innovation and growth [3][4] - The collaboration between Long and the existing e-commerce management team is expected to propel the next phase of growth for SKYX's technologies [4]

Core Insights - SKYX Platforms Corp. has appointed Huey Long, a seasoned e-commerce executive with extensive experience at Amazon, Walmart, and Ashley Furniture, to lead its e-commerce platform [1][3][4] - The company aims to leverage Long's expertise to enhance sales and market penetration of its advanced and smart home plug & play technologies in the U.S. and Canadian markets [2][4] Company Overview - SKYX Platforms Corp. is a technology company focused on advanced and smart home solutions, holding over 97 issued and pending patents globally and managing a portfolio of more than 60 lighting and home décor websites [1][5] - The company's mission is to establish its technologies as a standard in homes and buildings, emphasizing safety, quality, and ease of use [5] Leadership and Strategy - Huey Long is recognized for his strategic vision and operational excellence, bringing 28 years of experience in e-commerce and omnichannel retail to SKYX [3] - Long's previous roles include Director at Amazon, where he led the development of Amazon Basics, and Senior Vice President at Walmart, indicating a strong background in driving innovation and growth [3][4] - The founder of SKYX, Rani Kohen, expressed confidence in Long's ability to lead the next phase of growth for the company's technologies [4]

Core Insights - SKYX Platforms Corp. will collaborate with Cavco Industries to integrate its advanced smart plug & play technologies into Cavco's premium manufactured homes during the International Builders' Show in Las Vegas from February 25-27, 2025 [1][4] - Cavco is a leading U.S. manufacturer of prefabricated homes, having sold nearly 1 million homes since its inception, with annual sales approaching 20,000 units [3] Company Overview - SKYX Platforms Corp. focuses on making homes and buildings advanced, safe, and smart through its innovative technologies, holding over 97 patents globally [5] - Cavco Industries specializes in factory-built housing products and is recognized for its high-quality, premium designs, distributed through a wide network of retailers [3] Technology Impact - The integration of SKYX's technologies is expected to enhance safety, save time, and add significant value to both developers and homeowners [2][4] - The collaboration aims to set a new standard for construction by making homes smarter and safer instantly [4]

Core Insights - SKYX Platforms Corp. will supply over 12,000 smart and plug & play products to Forte Developments for three luxury projects, including an 80-story building in Miami and two buildings in Clearwater Beach [1][2] - The projects will total over 400 high-end luxury units, showcasing the collaboration between a leading luxury developer and a disruptive technology company [1][2] - SKYX's technologies are designed to provide recurring revenue opportunities through upgrades, interchangeability, monitoring, and subscriptions [1] Company Overview - SKYX Platforms Corp. holds more than 97 issued and pending patents globally and operates over 60 lighting and home décor websites [4] - The company's mission is to make homes and buildings advanced, safe, and smart, emphasizing high quality and ease of use [4] - SKYX's products are positioned as essential for enhancing safety and lifestyle in both residential and commercial buildings [4] Industry Context - Forte Developments is recognized for its high-end luxury condo and home developments, with notable projects in Palm Beach, Miami, and The Hamptons [2] - The collaboration with SKYX is expected to set a new standard in construction, integrating advanced smart technologies into luxury real estate [3] - The partnership reflects a growing trend in the real estate industry towards incorporating smart technologies to enhance property value and safety [3]

Core Insights - SKYX Platforms Corp. will supply its smart technologies to Forte Developments for three luxury projects, including an 80-story building in Miami and two buildings in Clearwater Beach, totaling over 400 high-end luxury units [1][2][3] - The company is expected to deliver over 12,000 smart and plug & play products, enhancing safety and lifestyle in homes and buildings [2][3][5] Company Overview - SKYX is a technology company with over 97 issued and pending patents globally, focusing on advanced smart platform technologies for homes and buildings [2][5] - The company operates over 60 lighting and home décor websites, emphasizing high quality and ease of use [5] Project Details - The projects include an 80-story high-rise in Miami's Brickell district, two buildings in Clearwater Beach, and a project in Jupiter, Florida [1][2][3] - SKYX is expected to start supplying its products during the second half of 2025 [3] Industry Impact - The collaboration with Forte Developments is seen as a step towards establishing SKYX's technologies as the standard for new construction, providing smart capabilities and significant value [4] - The technologies are designed to enhance safety and efficiency, potentially transforming the construction and real estate sectors [4][5]

Core Insights - The article discusses the performance and potential of SKYX Platforms (NASDAQ: SKYX), noting a 65% increase in share price since October [2] Group 1: Company Overview - SKYX Platforms is highlighted as a company with a defensible competitive advantage and a business model that could generate significant operational leverage [1] - The company is part of a portfolio that focuses on small, high-growth potential stocks, with a buy and hold strategy [3] Group 2: Investment Strategy - The investment approach involves real-time buy and sell signals, along with a community for active trading discussions [1] - The service offers a portfolio and watchlist of similar high-growth stocks, aiming to identify multi-bagger potential while managing risks [3]