SKYX Platforms (NASDAQ: SKYX), a smart home technology company, announced a combined pipeline with Deako estimated at more than 4 million units, with an expected average selling price of approximately $50 per product. The disclosure, part of a broader corporate update, underscores the scale of the company's expanded product reach following its merger with Deako and points to potential revenue growth as these units move toward installation.
The pipeline includes Deako's recently announced plans to supply more than 80,000 units to 1,000 Maronda Homes residences, while SKYX has signed agreements to supply technology for two 65-story Trump Towers in Hyderabad, India, and a Marriott hotel renovation in Durham, North Carolina. These agreements reflect SKYX's ability to secure large-scale projects across diverse geographies and market segments, from residential developments to hospitality renovations.
Beyond the pipeline, the company expects its merger with Deako to reduce annual cash expenses by more than $6 million and potentially increase Deako revenue per home by up to fivefold. Such cost savings and revenue synergies are critical as SKYX targets positive cash flow by the end of 2026. The company reported $27.7 million in cash, cash equivalents and restricted cash at the close of the second quarter of 2026, alongside 10 consecutive quarters of year-over-year growth. This financial position provides a buffer as SKYX invests in growth initiatives and works toward profitability.
SKYX also highlighted licensing agreements, planned artificial intelligence-driven e-commerce enhancements and continued efforts to establish mandatory safety standards for its electrical ceiling outlet technology. These initiatives could strengthen the company's competitive moat and open additional revenue streams. Seasonal sales of its patented Turbo Heater Fan are also anticipated to rise, contributing to near-term performance.
The full press release is available at https://ibn.fm/LJP97, and the latest news and updates relating to SKYX can be found in the company’s newsroom at https://ibn.fm/SKYX. The update was distributed through InvestorWire, a specialized communications platform that is part of the Dynamic Brand Portfolio at IBN. InvestorWire offers services including editorial syndication to 5,000+ outlets and social media distribution to millions of followers. Full terms of use and disclaimers are available at https://www.InvestorWire.com/Disclaimer.
