SKYX Platforms Balance Sheet Health

Financial Health criteria checks 2/6

SKYX Platforms has a total shareholder equity of $4.3M and total debt of $16.8M, which brings its debt-to-equity ratio to 392.4%. Its total assets and total liabilities are $63.2M and $58.9M respectively.

Key information

392.44%

Debt to equity ratio

US$16.79m

Debt

Interest coverage ratio	n/a
Cash	US$9.44m
Equity	US$4.28m
Total liabilities	US$58.89m
Total assets	US$63.17m

Recent financial health updates

Recent updates

Home Depot And Wayfair Partnerships Will Boost Smart Home Adoption

Apr 05 Strategic partnerships and collaborations, including with major retailers, are set to significantly boost market penetration, revenue growth, and business opportunities.

Is SKYX Platforms (NASDAQ:SKYX) Using Too Much Debt?

Mar 27

SKYX Platforms Corp. (NASDAQ:SKYX) Might Not Be As Mispriced As It Looks After Plunging 39%

Mar 12

A Piece Of The Puzzle Missing From SKYX Platforms Corp.'s (NASDAQ:SKYX) 31% Share Price Climb

Jan 18

Investors Give SKYX Platforms Corp. (NASDAQ:SKYX) Shares A 29% Hiding

Nov 24

SKYX Platforms Corp. (NASDAQ:SKYX) Might Not Be As Mispriced As It Looks After Plunging 31%

Aug 29

Here's Why SKYX Platforms (NASDAQ:SKYX) Can Afford Some Debt

Jul 18

Positive Sentiment Still Eludes SKYX Platforms Corp. (NASDAQ:SKYX) Following 32% Share Price Slump

Apr 20

Is SKYX Platforms (NASDAQ:SKYX) A Risky Investment?

Mar 28

SKYX Platforms GAAP EPS of -$0.06, revenue of $7.39M

Aug 12

Financial Position Analysis

Short Term Liabilities: SKYX's short term assets ($18.3M) do not cover its short term liabilities ($28.6M).

Long Term Liabilities: SKYX's short term assets ($18.3M) do not cover its long term liabilities ($30.3M).

Debt to Equity History and Analysis

Debt Level: SKYX's net debt to equity ratio (171.7%) is considered high.

Reducing Debt: SKYX had negative shareholder equity 5 years ago, but is now positive and has therefore improved.

Balance Sheet

Cash Runway Analysis

For companies that have on average been loss-making in the past, we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: SKYX has sufficient cash runway for 6 months based on last reported free cash flow, but has since raised additional capital.

Forecast Cash Runway: Insufficient data to determine if SKYX has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.

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Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/05/27 19:32
End of Day Share Price	2025/05/27 00:00
Earnings	2025/03/31
Annual Earnings	2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

SKYX Platforms Corp. is covered by 7 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Almas Almaganbetov	Freedom Broker
Egor Tolmachev	Freedom Broker
Vadim Merkulov	Freedom Broker

SKYX Platforms Balance Sheet Health

Financial Health criteria checks 2/6

Key information

Recent financial health updates

Is SKYX Platforms (NASDAQ:SKYX) Using Too Much Debt?

SKYX Platforms Regains Compliance with Nasdaq Listing Rule 5550(a)(2)

SKYX Platforms Receives Notice from Nasdaq Regarding Non-Compliance with the Minimum Bid Price Requirement

Here's Why SKYX Platforms (NASDAQ:SKYX) Can Afford Some Debt

Is SKYX Platforms (NASDAQ:SKYX) A Risky Investment?

SQL Technologies Common Stock to Be Deleted from Other OTC

Recent updates

First quarter 2025 earnings: EPS exceeds analyst expectations

New minor risk - Market cap size

SKYX Platforms Corp. announced that it has received $0.975 million in funding

Home Depot And Wayfair Partnerships Will Boost Smart Home Adoption

Consensus EPS estimates fall by 25%

SKYX Platforms Corp. announced that it expects to receive CAD 0.0945 million in funding

Is SKYX Platforms (NASDAQ:SKYX) Using Too Much Debt?

Full year 2024 earnings: EPS misses analyst expectations

SKYX Platforms Corp., Annual General Meeting, Jul 09, 2025

SKYX Platforms Corp. (NASDAQ:SKYX) Might Not Be As Mispriced As It Looks After Plunging 39%

SKYX Platforms Corp. announced that it expects to receive $1 million in funding

Insufficient new directors

Price target decreased by 12% to US$3.13

SKYX Platforms Corp. Appoints Greg St. John as President of Lighting, Fans, and Smart Home Products

A Piece Of The Puzzle Missing From SKYX Platforms Corp.'s (NASDAQ:SKYX) 31% Share Price Climb

Investors Give SKYX Platforms Corp. (NASDAQ:SKYX) Shares A 29% Hiding

New minor risk - Market cap size

Third quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind

SKYX Platforms Regains Compliance with Nasdaq Listing Rule 5550(a)(2)

SKYX Platforms Corp. announced that it has received $11 million in funding

SKYX Platforms Receives Notice from Nasdaq Regarding Non-Compliance with the Minimum Bid Price Requirement

SKYX Platforms Corp. (NASDAQ:SKYX) Might Not Be As Mispriced As It Looks After Plunging 31%

New minor risk - Profitability

Consensus EPS estimates upgraded to US$0.34 loss

New minor risk - Financial position

Second quarter 2024 earnings: EPS and revenues exceed analyst expectations

Here's Why SKYX Platforms (NASDAQ:SKYX) Can Afford Some Debt

SKYX Platforms Corp. Announces Production of Its New Global Patented Advanced, Smart, Plug & Play Recessed Light

SKYX Platforms Corp.(NasdaqCM:SKYX) dropped from Russell 3000 Index

SKYX Announces the Issuance of 6 Additional Patents in the U.S. and Internationally

Consensus revenue estimates fall by 14%

SKYX Platforms Corp., Annual General Meeting, Jul 10, 2024

First quarter 2024 earnings: EPS and revenues miss analyst expectations

Consensus revenue estimates decrease by 12%

Consensus revenue estimates increase by 23%

Positive Sentiment Still Eludes SKYX Platforms Corp. (NASDAQ:SKYX) Following 32% Share Price Slump

SKYX Platforms Corp. announced that it has received $1 million in funding

New minor risk - Market cap size

SKYX Platforms Corp. announced that it has received $0.515751 million in funding

SKYX Announces Issuance of 8 Additional New Patents in the U.S. and International Including China, Europe and 2 Patents in India, for Its Advanced, Smart Home and Ai Platform Technologies

Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind

Is SKYX Platforms (NASDAQ:SKYX) A Risky Investment?

SKYX Platforms Corp. Will Debut Its New Patented Game-Changing Smart Home Platforms Technologies At Ces 2024

Third quarter 2023 earnings: EPS and revenues miss analyst expectations

No longer forecast to breakeven

SKYX Platforms Corp. Provides Business Update Including 5 Additional Patents Issued in the U.S. and International Markets

SKYX Platforms Corp. Appoints Leonard J. Sokolow as Co-Chief Executive Officer

Sky Technologies Corp. Announces Issuance of Three New U.S. and International Patents for its All-In-One Smart Modular Platform Technology

Second quarter 2023 earnings released: US$0.14 loss per share (vs US$0.058 loss in 2Q 2022)

New minor risk - Share price stability

SKYX Platforms Corp Announces Appoints Khadija Mustafa as Senior Tech, AI and Global Business Advisor

SKYX Platforms Corp., Annual General Meeting, Jun 28, 2023

First quarter 2023 earnings released: US$0.096 loss per share (vs US$0.23 loss in 1Q 2022)

SKYX Platforms Corp. announced that it has received $8.1 million in funding

SKYX Platforms Corp. Debuts Revolutionary SkyPlug Smart At CES 2023

Forecast to breakeven in 2023

Less than half of directors are independent

SKYX Platforms Corp. Launches its First-Generation Plug & Play Smart Home Automation Product

SKYX Platforms GAAP EPS of -$0.06, revenue of $7.39M

SKYX Platforms Corp. Achieves Historic U.S. Standardization Approval Vote for the Standardization of the SKYX Safe Weight-Bearing Plug and Outlet/Receptacle for Ceilings

Less than half of directors are independent

Phillips S. Peter Retires from the Board of SKYX Platforms Corp

Director recently bought US$54k worth of stock

Director recently bought US$52k worth of stock

SQL Technologies Corp., Annual General Meeting, Jun 14, 2022

SQL Technologies Corp. Appoints Bernard Zyscovich as Chair of Newly Formed Architectural and Real Estate Advisory Board

High number of new directors

SQL Technologies Corp. Appoints Mark Earley as Safety Advisory Board Committee

SQL Technologies Corp. Announces Management Changes