SKYX Platforms Corp. (NASDAQ: SKYX) reported financial results for the third quarter ended September 30, 2026, filing an -K with the SEC on November 12, 2026. The company announced record revenue for the quarter, driven by continued growth in its e-commerce and builder channels.
For the third quarter of 2026, SKYX reported revenue of $25.7 million. This figure represents a 7.4% increase compared to $23.9 million in the same period of the prior year. The company noted this marks 11 consecutive quarters of year-over-year revenue growth. Gross profit for the quarter rose to $8.1 million, an 11% increase from the second quarter of 2026, resulting in a gross margin of 31.4%.
The company’s balance sheet showed significant improvement. As of September 30, 2026, SKYX held $21 million in cash, cash equivalents, and restricted cash. This is a substantial increase from $10 million held on December 31, 2025. The company reported a decrease in interest-bearing debt to $14.7 million and stated that it believes it has sufficient cash to support its path to cash-flow positive.
In a significant business development, SKYX completed its merger with Deako, Inc. on October 13, 2026. The combined entity reported that Deako generated revenues of more than $26 million in 2025 and has shipped over 35 million units. Following the merger, SKYX announced three major builder programs with three prominent homebuilders: Maronda Homes, Home Creations, and Stone Martin. These programs are expected to supply more than 210,000 units across more than 2,500 homes, with deliveries expected through 2027.
The combined pipeline for SKY and Deako is estimated at approximately 4 million units, with an expected average selling price of about $50 per product. The company also highlighted international expansion efforts, including an agreement to supply technologies to two 65-story luxury Trump Towers in Hyderabad, India, and plans to supply technology during a Marriott hotel renovation in Durham, North Carolina.
