SKYX Platforms Q4 2025 Earnings Report

SKYX Platforms EPS Results

• Actual EPS: -$0.07
• Consensus EPS: -$0.06
• Beat/Miss: Missed by -$0.01
• One Year Ago EPS: N/A

SKYX Platforms Revenue Results

• Actual Revenue: $24.94 million
• Expected Revenue: $25.12 million
• Beat/Miss: Missed by -$174.20 thousand
• YoY Revenue Growth: N/A

SKYX Platforms Announcement Details

• Quarter: Q4 2025
• Date: 3/26/2026
• Time: Before Market Opens
• Conference Call Date: Thursday, March 26, 2026
• Conference Call Time: 4:30PM ET

SKYX Platforms (NASDAQ:SKYX) is a technology company focused on advancing smart-home and building technology through its “Smart Home” and “Smart Platform” product offerings. The company develops plug-and-play electrical and smart-home solutions designed to improve the installation, connectivity, functionality and safety of lighting fixtures and other ceiling-based devices.

Its product portfolio includes smart ceiling receptacles, smart platforms, lighting products and related technologies intended to simplify the installation of smart lighting and enable additional connected-home features. SKYX’s solutions are designed for use in residential, commercial and hospitality environments and may support functions such as remote control, automation and integration with smart-home systems.

SKYX Platforms was founded by Rani Kohen, who serves as the company’s founder and chief executive officer. The company markets its technologies in the United States and internationally and has pursued patent protection and industry adoption through relationships involving lighting manufacturers, distributors, builders and other participants in the electrical and smart-home sectors.

SKYX Platforms Q4 2025 Earnings Call Transcript

Key Takeaways

• Positive Sentiment: Record revenue and improved margins — Q4 revenue was $25M and full-year 2025 revenue $92M (vs. $86M in 2024) with gross profit up to $28M and gross margin rising to 30%, operating cash used fell to $13M and the company raised $29M in Q1 2026.
• Positive Sentiment: New product rollouts and retail distribution — the SkyFan & Turbo Heater launched across the company's 60 e-commerce sites and is listed with major retailers (Home Depot, Target, Lowe's, Walmart), with strong early reception and plans for larger sizes and additional designs.
• Positive Sentiment: Smart/AI initiatives — SKYX joined the NVIDIA AI Ecosystems Connect Program, plans an All‑In‑One Smart Platform/hub targeted for Q3 2026, and will deploy an AI-driven e‑commerce tool in 2026 aimed at improving conversion rates (management cites up to +30%).
• Positive Sentiment: Safety standardization and large project pipeline — management says it is near mandatory code adoption for its ceiling receptacle technology, expects participation in multiple large U.S. and international projects and estimates potential to deploy >1 million units across announced projects (company timing and outcomes remain subject to execution and approvals).

Presentation

[Operator]

Good day, and welcome to SKYX Platforms' fourth quarter 2025 earnings conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. Before we begin, I would like to remind everyone that statements made during this conference call that are not historical facts are forward-looking statements. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Forward-looking statements may include, but are not limited to, statements regarding our anticipated financial performance, growth strategy, market opportunities, product development, commercialization efforts, regulatory developments, and expected future events.

[Operator]

Additional risks and uncertainties are described in the company's filings with the U.S. Securities and Exchange Commission, including the most recent annual report on Form 10-K and subsequent quarterly report on Form 10-Q. We undertake no obligation to update any forward-looking statements except as required by applicable law. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press Star then one on your telephone keypad. To withdraw your question, please press Star then two. Please note this event is being recorded. I would now like to turn the conference over to Rani Kohen, Founder and Executive Chairman. Please go ahead.

[Rani Kohen, Founder and Executive Chairman at SKYX Platforms]

Good afternoon. Thank you for joining us, SKYX Platforms. We will give you today an overview starting with our President, Steven Schmidt, and then moving forward to our CEO, Leonard Sokolow. Steven, please go ahead. Thank you.

[Steven Schmidt, President at SKYX Platforms]

Great. Hey, Rani. Thank you very much. It's great to be with you here this afternoon. Let me start with as we've mentioned and most industry experts know, the lighting and home decor markets, along with the new home building, have been in decline for the past few years. Despite this, SKYX, through our technology and versatility of products, continues to grow. Let's talk about the growth that we continue to demonstrate. First, on the financial side. First, we're reporting another record quarter revenue with $25 million in Q4, demonstrating 8 consecutive quarters of year-over-year growth with annual record revenue of $92 million in 2025 compared to $86 million in 2024 as we continue to grow our market penetration.

[Steven Schmidt, President at SKYX Platforms]

Gross profit increased to $28 million in 2025 compared to $25 million in 2024, representing a $3 million or 13% increase. Operating cash used in 2025 amounted to $13 million compared to $18 million in 2024, representing a $5 million or 27% reduction in cash used in operating activities. As we've announced prior, we have raised $29 million in Q1 2026 through investments from fundamental institutions. Now on the business front, a lot of initiatives and a lot of key things to report. We announced collaboration with NVIDIA AI Ecosystems Connect Program, which will grow our collaboration with NVIDIA into future smart home projects.

[Steven Schmidt, President at SKYX Platforms]

We announced the launch of our advanced Sky-Fan & Turbo-Heater on our e-commerce platform with 60 websites, 1stoplighting.com, and U.S. leading retailers, including Home Depot, Target, Lowe's, and Walmart. Based on the growing sales of our patented Turbo Heater Fan, SKYX is expanding the category of the all-season ceiling fan heat in winter and cool in summer category, which will result in additional products in new design and larger sizes. Next, we expect to continue this to grow all of this in 2026 to advance our path to becoming cash flow positive. As we've mentioned in prior calls, we're very excited on the hotel and building area, and we hope to share more on this in the next few quarters.

[Steven Schmidt, President at SKYX Platforms]

Our enhanced safety code standardization team continues its progress towards its goal of a safety mandatory standardization in homes and buildings of its life-saving ceiling outlet receptacle technology. We expect to supply our advanced and smart home technologies to upcoming and future key projects in the U.S. and globally, including in New York, North Carolina Smart Home Community, Austin, Texas, San Antonio, Texas, South Florida, including Miami, Florida, the new $2.4 billion smart city, Saudi Arabia, Egypt, among other areas. We expect to deploy over 1 million units of our advanced and smart home plug-and-play technologies during the course of these projects. We continue to grow our market penetration and expect to deploy over 100,000 of our products into homes and units by the end of 2026 through the retail and pro segments.

[Steven Schmidt, President at SKYX Platforms]

Our technologies expansion provides additional opportunities for future recurring revenues through interchangeability, upgrades, AI services, monitoring, subscriptions, and more. Finally, we'll be launching a new AI-driven software in 2026 for our e-commerce platform of 60 websites, which is expected to increase our conversion rate in sales up to 30%. A lot of progress on all fronts and a lot more to come. With that, let me turn the call over to our CEO, Len Sokolow, who will give you more clarity on the financials and some other business details. Len, over to you.

[Leonard Sokolow, CEO at SKYX Platforms]

Great. Thank you very much, Steve. Appreciate it. We're very encouraged, as Steve mentioned, we've had growth in revenues eight consecutive quarters, so year over year. To reflect also over the last three years, we've had three years of consecutive growth in annual revenues. Again, to reiterate, all while the building, lighting, and home decor markets have been in a significant slowdown these past years. Our revenues increased $92 million from $87 million. Our gross profit increased $28 million from $25 million, and our gross margin increased 2% to 30% from 28%. You know, we're very focused and highly focused on all of these financial metrics and expect further improvements in 2026 and beyond.

[Leonard Sokolow, CEO at SKYX Platforms]

We're further encouraged by the indications and the customer feedback on our turbo heater fan and the fact that we are creating a new category of all-season fans. This is a new category that's important to understand, and this category is a precursor to the additional category of our All-In-One Smart Platform and hub, which we expect to launch beginning in Q3 2026. All in all this will be our third new category based on our plug-and-play razor and blade model. The concept of our plug-and-play and the razor and blade model is now proving that the categories that we're creating are very impactful, have a tremendous amount of potential and a lot of unlimited opportunities.

[Leonard Sokolow, CEO at SKYX Platforms]

This lighting all season ceiling fans and our all-in-one platform and hub are reflective of this. All of this is all quite promising as we are well-funded to accelerate our growth. With that, if I could turn it back to Rani.

[Rani Kohen, Founder and Executive Chairman at SKYX Platforms]

Yes. Thank you, Lenny. As Steve and Lenny mentioned, we are in a slow new build lighting and home decor market. We're expanding based on our unique technologies and also versatility of products in our e-commerce platform. In the past 10 months, we showed significant growth in the builder segment and we expect and hope to keep on growing on the builder segment, and we hope we can share more things on this in the near future. Very important also, we believe, we strongly believe that we add significant value for hotel renovations.

[Rani Kohen, Founder and Executive Chairman at SKYX Platforms]

We believe that with our technology, you can renovate a hotel when it comes to the electrical lighting segment in a few days rather than a few months. We've proven that case in the Marriott during a Marriott renovation demo. We had an investment of $60.5 million led by the Shaner Group that own 80 hotels with over 60 Marriotts. Our goal is to grow in this hotel segment. As Steve mentioned, we were progressing on this segment and we expect and we hope we can share some more on this in the near future or very near future. We're also excited about starting to work with NVIDIA.

[Rani Kohen, Founder and Executive Chairman at SKYX Platforms]

We hope we can elaborate more on this, but we're getting great reaction with our All-In-One Smart Platform, smart home platform and hub. It solves many problems in one solution. As Lenny mentioned, we hope to start production and launch it around mid to Q3 of this year. We're making some progress on all fronts. Again, it's a razor and the blade model. Sometimes we'll supply the razors before the blades. Obviously the blades provide more revenue than the razor, but the razor sets the stage. If Tesla had to put billions of dollars of charging point stations, thank God it doesn't cost us too much to put our razors out there.

[Rani Kohen, Founder and Executive Chairman at SKYX Platforms]

It's a program and it's a model that we believe is working well for us and will work even better. As Lenny said, it opens the door to create new categories like the lighting categories, now the ceiling fans and the heater, all season ceiling fan that provides a solution for both winter and the heater. We're happy with the indications and the first sales we had, and we're growing nicely. Now it's already March and it's getting warm, but we still see nice sales here. We expect to grow this category significantly, add designs, and add different sizes based on feedback and demand. We currently have the 24-inch that we launched.

[Rani Kohen, Founder and Executive Chairman at SKYX Platforms]

We expect to have the same version in 30-inch based on demand, and we expect to come with actually other designs that will provide totally different looks, but are gonna be more powerful for larger homes and rooms and up to 60 inches too, in some models that we expect to and we hope we can share soon and launch. With that being said, I can turn it to Q&A. I think we have here, let's see who's on the list. We have yes, Jacob Stephan here with us from Lake Street. So please, Jacob, go ahead.

[Jacob Stephan, Senior Research Analyst at Lake Street Capital Markets]

Hey, guys. Thanks for taking the questions. Just first, in the press release, you guys talked about a significant prominent leader in the safety code standardization timeline. I'm wondering if you could kinda touch on that a little bit. You know, what kind of specific milestones kinda remain to the overall kind of standardization?

[Rani Kohen, Founder and Executive Chairman at SKYX Platforms]

Yeah. We're happy to do so. As we all know, we have leading our code division Mark Earley, who's the former head of the National Electrical Code and Chief Engineer of the National Fire Protection Association that really wrote the code books for 33 years here in America with safety for electricity. Joined him a couple of years ago is Eric Jacobson, who was the former president and CEO of American Lighting Association. Those are great leaders to have with our entire team here. We're progressing really nice with the 10 votes we already got in the National Electrical Code and the historical vote by ANSI and NEMA as specified that our receptacle specifications are the standard.

[Rani Kohen, Founder and Executive Chairman at SKYX Platforms]

As we said, we're one step away from the mandatory. In addition to this, we had recently a very senior member joining our team that's trying to help us move it through additional channels. There are several safety organizations in the U.S. that were established in the past 50 to 100 years with a very clear criteria of saving lives, mitigating injuries and property damages. We believe that there are some of them are independent and nonprofit, but some of them are actually a part of the government and getting budgets of billions of dollars to literally find technologies like ours with the life safety and aspects and bring them to fruition to save lives.

[Rani Kohen, Founder and Executive Chairman at SKYX Platforms]

Remember, again, to remind everyone, there's approximately 500 million installations annually in the U.S. when people really risk their life to go on ladders, touch electrical wires, and hazards happen, including ladder falls. We also got some indications that ladder falls tend to happen more often when you have big obstacles in your hands or you're doing unstable movements. We're encouraged about this opportunity, and therefore, we have engaged a very senior member that can help us with, hopefully, some government safety organizations. To remind everyone creating safety is key, but in our case, that's also gonna enhance and help growth of products. Everything can be made here in the U.S., and our technology can be fully automated here in the U.S.

[Rani Kohen, Founder and Executive Chairman at SKYX Platforms]

There's no labor factor. Therefore, it's not only saving lives, it's enhancing an economy, creating many jobs. We have some people that strongly believe that we can expedite this through other agencies. Jack Vander Aarde, you know, I gave you a long answer here, but I know you like detailed information, so I hope that covers.

[Jacob Stephan, Senior Research Analyst at Lake Street Capital Markets]

Yeah, no, I appreciate it. Very helpful. When you kinda look at the path to cash flow positive that you guys are talking to, I think looking at the cash OpEx kinda line, it looks like $13 million of kinda OpEx on a quarterly basis assuming kinda 30% gross margins. Is a good quarterly kind of revenue number that gets you to the cash flow break even? Is that like $35 million if I'm backing into the numbers correctly?

[Rani Kohen, Founder and Executive Chairman at SKYX Platforms]

I wanna be careful with the numbers not to do a mistake here, but we have we're launching a few products, including the Turbo Heater fans and others and some big box orders. We already started working with Home Depot and Target and Lowe's and Walmart, and we expect to go to other channels here. If we land one product, okay, one SKU out of those many SKUs we're coming up with in one of the big box retailers, that can be a game changer towards an expedited very fast path to cash flow positive.

[Rani Kohen, Founder and Executive Chairman at SKYX Platforms]

Meanwhile, as we're launching the new AI-driven software in our e-commerce platform, it also we mentioned helps us to increase conversion rates, and we can say that we already converted I would say 15% of our sites towards that new software. We do see the results there, an increase of not only conversion, in some cases increases of gross margin. We have several ways we're looking into this, and we expect to launch additional products this year that will enhance. I'm giving you a big picture. I wanna be careful what number we need to provide quarterly. We actually I think it will be lower than $35 million, but I just wanna quite lower than $35 million a quarter because the

[Rani Kohen, Founder and Executive Chairman at SKYX Platforms]

We're actually blending in more and more products that have higher gross margins. We're doing it through joint ventures that we announced last year globally, and that provide us a much higher gross margin. That's why you saw a jump Lenny mentioned from 28% gross margin in 2024 to 30%. We hope to, as Lenny mentioned, continue, and we're very focused on continue that path. We hope to if one of the products that we are trying to launch, we hope that in the right order, it can create a spike that's gonna turn our burn to a cash flow positive.

[Jacob Stephan, Senior Research Analyst at Lake Street Capital Markets]

Okay. Very helpful. Just one last one kinda quickly here. The overall kinda hotel channel, I know that's kind of an exciting opportunity for you guys, but from a from an actual improvement standpoint how interest rate sensitive is that market?

[Rani Kohen, Founder and Executive Chairman at SKYX Platforms]

Repeat, how what?

[Jacob Stephan, Senior Research Analyst at Lake Street Capital Markets]

Sorry. How interest rate sensitive is that market? I've gotta imagine the builds are financed and just any kind of color you have there.

[Rani Kohen, Founder and Executive Chairman at SKYX Platforms]

You're talking about the high interest rate effect here?

[Jacob Stephan, Senior Research Analyst at Lake Street Capital Markets]

Yeah. Yes.

[Rani Kohen, Founder and Executive Chairman at SKYX Platforms]

I'm sure our product the time saving aspect, if you're talking about the hotel segment, right? That's where-

[Jacob Stephan, Senior Research Analyst at Lake Street Capital Markets]

Yeah. Correct.

[Rani Kohen, Founder and Executive Chairman at SKYX Platforms]

The time saving aspect creates a major labor cost saving aspect. We're having great reaction from that segment. As Steve and Lenny mentioned, we're progressing there. They didn't tell us specifically it's because of the interest rate, but definitely the time saving will provide significant cost saving and cutting costs on labor that's quite expensive in hotels as you pay by an hour. I'm sure it doesn't hurt us, but I didn't hear anyone in specific mentioning that in related to our products.

[Jacob Stephan, Senior Research Analyst at Lake Street Capital Markets]

Okay. I appreciate it, guys. Congrats on a good year here.

[Rani Kohen, Founder and Executive Chairman at SKYX Platforms]

Thank you. We have here, Barry Sine from Litchfield. Hi, Barry.

[Barry Sine, Senior Equity Research Analyst at Litchfield Hills Research]

Hey, good afternoon, gentlemen. A couple questions, if you don't mind. First, if you could give us a rough breakdown, how much of the revenue in 2025 came from smart plug related products and how much from traditional lighting fixtures from all the websites you have?

[Rani Kohen, Founder and Executive Chairman at SKYX Platforms]

Obviously, over 90% of our business is still the legacy business, but we're growing month to month, day to day actually, with our plug-and-play products. We didn't publish those numbers, but it's a hockey stick chart for sure on the growth, and as we said, we hope to get into up to, or maybe over, hopefully, 100,000 of our products into homes by the end of this year. We hope to keep on growing the percentage, and that's the path. It shows the path is great, but obviously, as known, the legacy business is still the majority.

[Barry Sine, Senior Equity Research Analyst at Litchfield Hills Research]

You've announced a number of major construction projects, either in new housing or hotels, and I'm having trouble keeping track of, there's so many of them. If you could give us a recap, how many major projects are you going into now? How many units would that be? Where are we in terms of construction? Which ones are actually ready to start taking smart plug products?

[Rani Kohen, Founder and Executive Chairman at SKYX Platforms]

We have I think we announced around 12 projects in the past 10 months. Obviously the largest one is the $4 billion. When we started with $3 billion, now it grew up to a $4 billion smart city project in Miami. They're already starting site work there. That's probably towards the end of the year, we hope we can start supplying some of it. There are other projects that we're working around South Florida. There's the Saudi project that is the joint venture we have with the U.S. group that's involved with the Saudi venture. That can also be significant number of units for us.

[Rani Kohen, Founder and Executive Chairman at SKYX Platforms]

That we hope will start also towards the end of this year in some capacity. That can include hotels, buildings, homes and much more. We also announced a few projects in Texas and Austin. Actually the Austin, Texas, we hope to start supplying very soon. Then afterwards, the San Antonio, Texas, is another project we hope to supply in the second half of this year, or it may be even second quarter, depends. In the building arena, you have delays at times. We also announced a New York project recently that actually we believe that that's gonna be also supplied very soon.

[Rani Kohen, Founder and Executive Chairman at SKYX Platforms]

In general, we anticipate around 1 million products overall on those projects during the course of those projects we announced. That's our estimate. Things like this can change, but that's a rough estimate based on those projects.

[Barry Sine, Senior Equity Research Analyst at Litchfield Hills Research]

Well, that's fantastic. It sounds like, given the visibility on all of those projects, you said a minute ago that smart plugs are about 10% of your revenue. It sounds like that's gonna increase very dramatically this year, and then the implications for margins are quite positive. The financial outlook for 2026, to me, looks very different than 2025. Is that a fair characterization?

[Rani Kohen, Founder and Executive Chairman at SKYX Platforms]

That's definitely our goal. I think we're still, as I said, 90% of the legacy business. I think to get to 10% of revenue is very feasible. I think even more depends on the path we're growing now, probably can be more than that. Yeah, your assumption is correct with the fine-tuning I added.

[Barry Sine, Senior Equity Research Analyst at Litchfield Hills Research]

Okay, my last question. In the press release, the second page, there's a bullet point on the bottom about insurance companies. You have a number of ways to drive, you know, mandatory usage of your products, and one would be through insurance companies mandating the usage. In the release, it said that you would expect this to happen once you complete an entire range and variations of the advanced plug-and-play products. What is your timeline to complete the entire range of smart plug products?

[Rani Kohen, Founder and Executive Chairman at SKYX Platforms]

Well, we're close. I think we're 80%, and I think there's already discussions on this segment. I think the All-In-One Smart Platform with all the smoke detectors, CO detectors that are all-in-one, and emergency lights and all the 911 calling aspects and everything. There's some quite significant excitement about this, and maybe we can start even working with insurance companies before the platform comes out there. It's definitely a play that I think will be significant, right an insurance company can come inspect you on one day and it becomes even faster than mandatory, so that's definitely something we're looking at and working on this angle.

[Rani Kohen, Founder and Executive Chairman at SKYX Platforms]

We hope to be more open about what exactly is going on in the very near future.

[Barry Sine, Senior Equity Research Analyst at Litchfield Hills Research]

Okay. Thank you. Those are my questions. Really making great progress. Thank you.

[Rani Kohen, Founder and Executive Chairman at SKYX Platforms]

Thank you, Barry.

[Patrick McCann, Equity Research Analyst at Noble Capital Markets]

Patrick.

[Rani Kohen, Founder and Executive Chairman at SKYX Platforms]

Hey, Patrick McCann. Pat, how are you? Noble.

[Patrick McCann, Equity Research Analyst at Noble Capital Markets]

Hey, good afternoon, guys. Thanks for taking my questions. I was curious about with the smart heater fan from your press releases and so forth I believe it really didn't hit for the majority of Q4, so it wasn't able to have the full effect on your results. I know that was expected to be a fairly significant catalyst when it came to breaking even on operating cash flow. I was curious what how that's going so far in Q1.

[Patrick McCann, Equity Research Analyst at Noble Capital Markets]

How much of that will affect your path to cash flow positive here in Q1, especially with Q1 still having been in largely in the winter months where there would be that demand for something like that. Yeah, I was just wondering if you could have any thoughts on where that stands. Is it being well-received? Is it meeting expectations now that it has. You've gone to market with it for a bit of time now.

[Rani Kohen, Founder and Executive Chairman at SKYX Platforms]

It's actually we are seeing great signs and indications, as we mentioned earlier, and we're working now to expand the category. As I said earlier, we're getting feedback that some people want a larger one, the same product than 30 inches when this product is 24. There's other demands for much larger projects with 54 inches or 60 inches with different designs. We have a great reception on this, and we're very confident. Our team is very confident in this creating a new category of all seasons ceiling fan that, as we all know, ceiling fans are, you know, mainly a summer product, although they sell all year. The peak is definitely summertime.

[Rani Kohen, Founder and Executive Chairman at SKYX Platforms]

What we're seeing here, the indications we see now, and I mentioned this earlier, although we're in March and it should be slower for heaters, but because it's a all-season product, we actually are seeing good numbers for March as well. Again, we started late. Yes, we bought a few items in Q4 and we brought a few more now in Q1, and we can say that we're bringing more products. We believe eventually that's gonna be one of the main catalysts for turning us to cash flow positive. The signs are, it's looking good.

[Rani Kohen, Founder and Executive Chairman at SKYX Platforms]

I don't wanna mess with our CFOs on exact timing on cash flow positive, but we strongly believe that that's gonna be a main catalyst towards that path.

[Patrick McCann, Equity Research Analyst at Noble Capital Markets]

Thank you. My other question is regarding the big box retailers like Home Depot and Walmart and so forth. I was wondering if you could give just clarify what the current situation is between having the slate of products on their websites versus what tends to be available in store widely available in all or many locations.

[Rani Kohen, Founder and Executive Chairman at SKYX Platforms]

Yeah. As mentioned in the past, first of all, with Home Depot, we got a branding page and a SkyPlug branding page, so we can include a lot of products and channel a lot of customers towards that direction. Today, as we mentioned in previous calls, all of the big box today rely on signals from online, and when online, you can present 5 colors. You never know what's the winning color is gonna be, if it's brushed nickel or it's chrome or it's black, or gold, or you never know. The indications on colors are very important to the big box, so therefore we launched in the online segments.

[Rani Kohen, Founder and Executive Chairman at SKYX Platforms]

There are already discussions in place that we're having on what colors will go into stores and we hope to. We're talking to several big boxes. Some of them we mentioned, some of them we did not yet. We feel confident that we're gonna start landing them in stores. Once you land them in stores, that can, although online is growing all across the market, all across the board, online keeps on growing, and more and more people, including builders, are buying online now. Still the big box, an order on one color for a fan can be game-changing in numbers here, and for us. That's something that's in the works and we expect to share more in the near future on this.

[Patrick McCann, Equity Research Analyst at Noble Capital Markets]

Thanks. That's helpful clarity. That's it for me. Thanks a lot, guys.

[Rani Kohen, Founder and Executive Chairman at SKYX Platforms]

Okay. Thank you very much for everyone here. Appreciate your time and questions. Lenny, Steve, anything else?

[Leonard Sokolow, CEO at SKYX Platforms]

No. We covered it.

[Rani Kohen, Founder and Executive Chairman at SKYX Platforms]

We covered it. Okay. Thank you all for joining. We look forward for our next call. It should be exciting with our path here, and it's actually just a couple of months from now, even less. Looking forward to talk to all of you soon, and thank you for your time.

[Operator]

The conference is now concluded. Thank you for attending today's presentation. You may now disconnect.

Participants

Executives

• Leonard Sokolow, CEO
• Rani Kohen, Founder and Executive Chairman
• Steven Schmidt, President

Analysts

• Barry Sine, Senior Equity Research Analyst at Litchfield Hills Research
• Jacob Stephan, Senior Research Analyst at Lake Street Capital Markets
• Patrick McCann, Equity Research Analyst at Noble Capital Markets