SKYX Platforms Added to Russell 2000, Secures $15M Investment and 500,000 Unit Deployment for Miami Smart City Project

SKYX Platforms Corp. will be added to the Russell 2000 index on June 27, 2025. The company secured a contract to deploy 500,000 smart home units in Miami's $3B Urban Smart City project and reported Q1 2025 revenue of $20.1 million, up from $18.9 million in Q1 2024. SKYX also secured a $15 million investment and anticipates achieving cash flow positivity by 2025.

SKYX Platforms Corp. (NASDAQ: SKYX), a leading smart home technology company, has announced significant milestones that underscore its growth trajectory and market acceptance. The company will officially be added to the Russell 2000 index after the market close on June 27, 2025, enhancing its visibility among investors [1].

SKYX has secured a substantial contract to deploy over 500,000 units of its smart home technologies in Miami's $3 billion Urban Smart Home City project. This project, located in the heart of Miami, is expected to be a major urban development redefining the city's landscape. The project, led by SG Holdings, will include mixed-use buildings, retail spaces, green walkways, parks, and a new Tri-Rail station, among other features [1].

The company has also reported record first-quarter 2025 revenues of $20.1 million, up from $18.9 million in the first quarter of 2024. This strong financial performance demonstrates SKYX's growth and market demand. Additionally, SKYX has secured $15 million in preferred stock funding from strategic investors, including substantial participation from company insiders. This investment underscores confidence in SKYX's strategic vision and growth trajectory [1].

SKYX anticipates achieving cash flow positivity by the end of 2025. The company's commitment to safety standardization is gaining support from key government safety organizations, which could lead to widespread adoption of its safe plug-and-play technologies. Furthermore, SKYX has expanded its market presence through partnerships with major retailers like Home Depot and various builders, aiming to integrate its solutions into a wide range of residential and commercial applications [1].

However, SKYX has reported a decrease in cash from $15.5 million to $12.3 million over the year, indicating potential liquidity concerns. The company's reliance on forward-looking statements and the "Dell Working Capital Model" may raise uncertainties about its future market acceptance and operational stability [1].

References:
[1] https://www.nasdaq.com/articles/skyx-platforms-corp-announces-corporate-progress-and-major-developments-including-russell