SKYX Platforms Corp

SKYX Platforms has signed a merger agreement with American smart lighting maker Deako, aiming to lead the AI smart home, builder, and hotel markets. As consideration, SKYX will issue common stock equal to 18.46% of the company, totaling 25 million shares subject to up to a 2-year lockup/leak-out agreement with a Rule 10b5-1 trading plan. SKYX will also pay Deako's lender $4 million by closing and issue a note of $8.5 million, with $2.25 million paid in Q-1 2027 and the remaining $6.25 million in Q-4 2027. Post merger, current SKYX shareholders will own 84.4% of the company, while Deako's shareholders and lender collectively will own 15.6%. SKYX shares rose 5% to $1.47.

SKYX Platforms Corp. reported record second-quarter 2026 revenue of $25.3 million, up 14% from $22.1 million in the first quarter and 10% from $23 million a year earlier, marking ten consecutive quarters of year-over-year growth. Management reiterated its goal to deliver over 100,000 units by the end of 2026 through pro and retail segments and to become cash flow positive exiting 2026. The company also announced a license agreement with global lighting company Eurofase and a supply deal for a Marriott City Center Hotel renovation in Durham, North Carolina. Net cash used in operating activities fell about 39% to $3.7 million from $6 million in the prior quarter, and interest-bearing debt was reduced by $2 million as of June 30, 2026. Executives said Gen 3 product timing depends on U.S. and FCC code approvals, and they expect sales to significantly grow toward fall and winter seasons for the patented turbo heater fan.

SKYX Platforms Corp. will deploy its advanced lighting and smart technologies during a renovation of a Marriott city center hotel in Durham, North Carolina, which is part of the Shaner Hotel Group that owns over 80 hotels in the U.S. and globally. The Marriott Durham City Center hotel has 190 rooms and suites, and the renovation will include rooms, suites, lobby, ballroom, gym, bars, restaurants, meeting rooms, and corridors. SKYX is expected to supply thousands of units of its smart plug and play products, including ceiling lighting, ceiling fans, recessed lights, down lights, EXIT signs, emergency lights, and indoor and outdoor wall lights. Lance Shaner, Founder and CEO of the Shaner Hotel Group, said the group expects to deploy SKYX’s technologies in additional hotels, citing significant time and cost savings. Rani Kohen, Founder and Executive Chairman of SKYX Platforms, highlighted the growth opportunity in the hotel segment driven by the time and cost benefits of the company’s technologies.

SKYX Platforms Corp is set to deploy its advanced smart plug-and-play technologies as part of a comprehensive renovation of The Mozart Prague, a 5-star hotel in the Czech Republic. The company will supply ceiling lighting, ceiling fans, emergency lights, and outdoor lights, aiming to improve quality of life and safety while reducing costs. SKYX has also signed a licensing agreement with lighting company Eurofase to distribute its ceiling electrical outlets and smart home technologies across builder and commercial segments in the US, Canada, Europe, and Asia.