Form 8-K

8-K — SKYX Platforms Corp.

Accession: 0001493152-26-037353

Filed: 2026-08-12

Period: 2026-08-12

CIK: 0001598981

SIC: 3640 (ELECTRIC LIGHTING & WIRING EQUIPMENT)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — form8-k.htm (Primary)

EX-99.1 (ex99-1.htm)

GRAPHIC (ex99-1_001.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: form8-k.htm · Sequence: 1

false

0001598981

2026-08-12

iso4217:USD

xbrli:shares

iso4217:USD

xbrli:shares

UNITED

STATES

SECURITIES

AND EXCHANGE COMMISSION

Washington,

D.C. 20549

FORM

8-K

CURRENT

REPORT

Pursuant

to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date

of Report (Date of earliest event reported): August 12, 2026

SKYX

PLATFORMS CORP.

(Exact

name of Registrant as Specified in its Charter)

Florida

001-41276

46-3645414

(State

or other jurisdiction

incorporation)

(Commission

File

Number)

(IRS

Employer

Identification

No.)

2855

W. McNab Road

Pompano

Beach, Florida 33069

(Address

of principal executive offices, including zip code)

Registrant’s

telephone number, including area code: (855) 759-7584

Not

Applicable

(Former

Name or Former Address, if Changed Since Last Report)

Check

the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under

any of the following provisions:

☐

Written

communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting

material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement

communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement

communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities

registered pursuant to Section 12(b) of the Act:

Title

of each class

Trading

symbol(s)

Name

of each exchange on which registered

Common

Stock, no par value per share

SKYX

The

Nasdaq Stock Market LLC

Indicate

by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405

of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging

growth company ☐

an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying

with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item

2.02 Results of Operations and Financial Condition

August 12, 2026, SKYX Platforms Corp. (d/b/a Sky Technologies) (the “Company”) issued a press release announcing its financial

results for the quarter ended June 30, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form

8-K and is incorporated herein by reference.

Pursuant

to the rules and regulations of the Securities and Exchange Commission, such exhibit and the information set forth therein and in this

Item 2.02 have been furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of

1934, as amended (the “Exchange Act”), or otherwise subject to liability under that section nor shall they be deemed incorporated

by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth

by specific reference in such filing regardless of any general incorporation language.

Item

9.01 Financial Statements and Exhibits

Exhibit

Number

Description

99.1

Earnings Press Release, dated August 12, 2026.

104

Cover

Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant

to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by

the undersigned hereunto duly authorized.

SKYX

PLATFORMS CORP.

Date:

August 12, 2026

By:

/s/

Leonard J. Sokolow

Name:

Leonard

J. Sokolow

Title:

Chief

Executive Officer

EX-99.1

Filename: ex99-1.htm · Sequence: 2

Exhibit

99.1

Exhibit

99.1 Earnings Press Release, dated August 12, 2026

SKYX

Reports 14% Growth and Record Sales of $25.3 Million in Q-2 2026 Compared to $22.1 Million in Q-1 2026 and 10 Consecutive Quarters of

Growth YoY and as It Continues to Grow Its Market Penetration

SKYX

Reports over $27.7 Million in Cash and Cash Equivalents as of June 30, 2026, Management Believes It Has Sufficient Cash to Achieve Its

Goals Including Becoming Cash Flow Positive as It Exits 2026

39%

Reduction in Cash Used in Operating Activities to $3.7 million in Q-2 of 2026 from $6.0 million in Q-1 of 2026

Gross

Profit Continues to Grow with 4% Increase to $7.3 Million in Q-2 of 2026 Compared to Q-2 of 2025 and a 10% Increase to $13.9 Million

for the First Half of 2026 Compared to $12.7 Million for the First Half of 2025

SKYX

Recently Announced it Will Supply Its Technologies During a Renovation of a Marriott City Center Hotel in Durham, NC

May 2026 SKYX Announced Its Technology Will Become Brand Standard for European Hotel Developers Group OTT, Developer Over 250 Hotels

and Buildings Across Europe

May 2026 SKYX Announced Its First European Hotel in France During a Renovation of an Historical Architectural Preservation Hotel, The

Grand Hotel du Parc (formerly The Grand Medicis Hotel)

June 2026 SKYX Announced It Will Deploy Its Technologies to Its Second European Hotel During a Renovation of 5-Star Accor Hospitality

Group Hotel Mozart Prague

SKYX

Signed Additional Agreement with Group OTT Heritage Hospitality Group to Deploy and Market Its Technologies to Vast European Hotel Market

of Over 132,000 Hotels

May 2026 SKYX Signed a Licensing Agreement for Its Advanced Technologies with U.S., Canada, and Global Leading Lighting Company Eurofase

SKYX

Is Expected to Deploy Over 1-Million Units of Its Products including Its Advanced Smart Home Plug-and-Play Technologies During the Course

of Its Projects and to Over 100,000 Units/Homes by the End of 2026 Through Its Pro and Retail Segments

SKYX’s

Future Projects in the U.S. and Globally Include Projects in North Carolina, Austin, San Antonio, South Florida (Including Miami’s

New $4 Billion Smart City), New York, Europe, Saudi Arabia, and Egypt

Despite

One of the Hottest Summers on Record, SKYX’s Sales of Its Patented Turbo Heater Fan are Continuing to Grow and Company Expects

Sales to Significantly Grow Towards Fall and Winter Seasons and Will Provide Additional Products in New Designs and Larger Sizes

SKYX’s

Technology Expansion Provides Additional Opportunities for Future Recurring Revenues Through Interchangeability, Upgrades, AI Services,

Monitoring, Subscriptions, and More

SKYX’s

Enhanced Safety Code Standardization Team Continues Its Progress Toward Its Goal of a Safety-Mandated Standardization in Homes/Buildings

of Its Life-Saving Ceiling Outlet/Receptacle Technology

MIAMI,

FL – August 12, 2026 – SKYX Platforms Corp. (NASDAQ: SKYX) (d/b/a SKYX Technologies) (the “Company” or “SKYX”),

a highly disruptive advanced smart home and AI platform technology company with over 100 pending and issued patents globally and 60 lighting

and home décor websites, with a mission to make homes and buildings become safe and smart as the new standard, today reported

its financial and operational results for the second quarter ended June 30, 2026.

● SKYX

will hold a conference call today, August 12, 2026, at 4:30 pm, Eastern Time, to discuss

the results. See below for dial-in information.

Second

Quarter 2026 Highlights and Recent Events

● Generated

an increase of 14% in revenues to a record $25.3 million in second quarter 2026 compared

to $22.1 million in revenues in first quarter 2026 and an increase of 10% compared to $23.1

million for the second quarter of 2025.

● As

of June 30, 2026, Company reported $27.7 million in total cash, cash equivalents, and restricted

cash compared to $10.1 million as of December 31, 2025.

● Reporting

10 consecutive YoY quarters of growth.

● Revenues

for the six months ended June 30, 2026, increased 10% to a record $47.4 million compared

to $43.2 million for the six months ended June 30, 2025.

● SKYX

continues to leverage the rapid conversion of its e-commerce sales into cash, advancing it’s

cash position often referred to as the “Dell Working Capital Model”, lowering

its cost of capital.

● Management

believes it has sufficient cash to achieve its goals including becoming cash flow positive

exiting 2026.

● The

gross profit for the second quarter ending June 30, 2026, increased comparatively to the

second quarter of 2025 by 4% to $7.3 million. Gross profit for the six months ended June

30, 2026, increased comparatively by 10% to $13.9 million, compared to $12.7 million for

the six months ended June 30, 2025.

● Net

loss decreased by $0.6 million to $8.2 million in the second quarter of 2026 compared to

$8.8 million in the second quarter of 2025 and decreased by $1.1 million sequentially compared

to $9.3 million in the first quarter of 2026.

● Net

loss per share was $0.06 per share in the second quarter of 2026 compared to $0.08 in the

second quarter of 2025.

● Adjusted

EBITDA loss, a non-GAAP measure, improved sequentially to $3.5 million in the second quarter

of 2026 from $3.9 million in the first quarter of 2026, as compared to $2.6 million in the

second quarter of 2025.

● Net

cash used in operating activities was reduced by 39% to $3.7 million in the second quarter

of 2026 from $6.0 million in the first quarter of 2026.

● The

Company reduced interest-bearing debt by $2.0 million as of June 30, 2026.

● The

Company maintains a structurally favorable working capital profile, with customers paying

in advance of supplier payment obligations. This results in a net working capital deficit

representing 9.8% of revenues and supports rapid conversion of e-commerce sales into operating

cash flow.

Builder

/ Hotel Segments and General Market Acceptance

● SKYX

Is Expected to Deploy Over 1-Million Units of Its Products including Its Advanced Smart Home

Plug-and-Play Technologies During the Course of Its Projects and to Over 100,000 Units/Homes

by the End of 2026 Through Its Pro and Retail Segments.

● SKYX’s

Future Projects in the U.S. and Globally Include Projects in North Carolina, Austin, San

Antonio, South Florida (Including Miami’s New $4 Billion Smart City), New York, Europe,

Saudi Arabia, and Egypt.

● SKYX

announced the launch of its patented advanced SKYFAN and Turbo Heater to the leading U.S.

retailer The Home Depot, including a new SkyPlug branding page on HomeDepot.com.

● SKYX

recently announced the launch of its Turbo Heater fan at leading U.S. retailers Target, Walmart,

and Lowe’s, and on its e-commerce platform across 60 websites.

● Based

on the Growing Sales of its patented Turbo Heater fan, SKYX is expanding the category of

the “All-Season Ceiling Fan” — heat in winter and cool in summer —

to provide additional products in new designs and larger sizes.

Technology

Roadmap

● SKYX’s

technologies expansion provides additional opportunities for future recurring revenues through

interchangeability, upgrades, AI services, monitoring, subscriptions, and more.

● SKYX

will be launching a new AI-driven system and infrastructure for its e-commerce platform of

60 websites, expected to significantly increase its conversion rate and sales.

● The

Company secured U.S. and global strategic manufacturing partnerships with premier manufacturers

including in the U.S., Vietnam, Taiwan, China, and Cambodia.

● SKYX

announced a collaboration with the NVIDIA AI Ecosystem Connect Program. SKYX expects to grow

its collaboration with NVIDIA through its existing and future smart home projects.

Safety

Standardization Mandatory Code and Insurance Exposure

● SKYX’s

Safety Code Standardization Team is receiving support from a new significant prominent leader

with its government safety agency’s process for a safety mandatory standardization

of its electrical ceiling outlet/receptacle technology.

● SKYX’s

code team is led by industry veterans Mark Earley, former head of the National Electrical

Code (NEC), and Eric Jacobson, former President and CEO of the American Lighting Association

(ALA). The Company’s Safety Code Standardization team believes it will garner assistance

from additional safety organizations with its code mandatory safety standardization efforts

based on the product’s significant safety aspects. Mr. Earley and Mr. Jacobson were

instrumental in numerous code and safety changes in both the electrical and lighting industries.

Both strongly believe that, considering the Company’s standardization progress including

its product specification approval voting for by ANSI / NEMA (American National Standardization

Institute / National Electrical Manufacturers Association) and being voted into 10 segments

in the NEC Code Book, it has met the necessary safety conditions for becoming a ceiling safety

standardization requirement for homes and buildings.

● The

Company strongly believes its products can save insurance companies many billions of dollars

annually by minimizing risks (e.g., reducing fires, ladder fall injuries, and electrocutions).

Management expects that insurance companies will use the Company’s range and variations

of its safe advanced plug & play products to reduce its exposure and minimize its risks.

Financing

Highlights

● SKYX

cash, cash equivalents and restricted cash increased to $27.7 million as of June 30, 2026,

as compared to $10.1 million as of December 31, 2025, as we raised $29 million in straight

equity, with no warrants during January 2026 through two fundamental institutional investors,

$25 million at $2.50 per share and $4 million at $2.00 per share.

● In

2025 we extended $13.5 million in notes coming due with maturity out to 5 years until 2030.

Second

Quarter 2026 Financial Results

The

Company’s financial statements for the quarter ended June 30, 2026, are filed with the SEC and are available on the Company’s

investor relations website. https://ir.skyplug.com/sec-filings/

Management

Commentary

Company’s

Management, Board members, and Senior Advisors include former CEO’s and executives from Fortune 100 companies including Nielsen,

Microsoft, Disney, GE, The Home Depot, Office Depot, Chrysler, among others.

The

Company is trending positively, generating record second quarter 2026 revenues of $25.3 million representing a 14% increase compared

to $22.1 million and a 10% increase as compared to $23.1 million for the second quarter of 2025, and record first half 2026 revenues

of $47.4 million as compared to $43.2 million for the first half of 2025. The Company generated a gross profit for the second quarter

ending June 30, 2026, increasing by 4% to $7.3 million, compared to the second quarter ending June 30, 2025, and a 9% increase to $13.9

million for the first half of 2026 compared to $12.7 million for the first half of 2025. We believe our positive trends will continue

to accelerate through the balance of 2026 as we build out and execute on our channel strategy.

are encouraged by the recently announced initiatives where we could supply hundreds of thousands of units in Europe, the Middle East

including Saudi Arabia and Egypt, the $4 billion mixed-use smart city development in the Little River District in the heart of Miami,

and projects in Pittsford, New York; North Carolina; Austin, Texas; and San Antonio, Texas. We continue to address the builder/commercial

segments, large online and brick-and-mortar retail partners as well as our future potential to realize incremental licensing, subscription,

and AI/data aggregation revenues.

Furthermore,

our e-commerce website platform with 60 websites enhances the acceleration of marketing and distribution channels, collaborations, licensing,

and sales to both professional and retail segments. Our websites include banners, videos, and educational materials regarding the simplicity,

cost savings, time-saving, and life-saving aspects of the Company’s patented technologies.

have accelerated our pace of sales and strategic initiatives with a robust gross margin profile, notably reducing the net loss, the adjusted

EBITDA loss, and the net cash used in operating activities of SKYX on a sequential quarterly basis. Our e-commerce platform with 60 websites

is expected to continue to provide additional cash flow to the Company.

About

SKYX Platforms Corp.

electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the

new standard. SKYX has a series of highly disruptive advanced smart home and AI platform technologies, with over 100 U.S. and global

patents and patent pending applications. Additionally, the Company owns 60 lighting and home decor websites for both retail and commercial

segments. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle

in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and

globally. For more information, please visit our website at https://skyplug.com/ or follow us on LinkedIn.

Forward-Looking

Statements

Certain

statements made in this press release are not based on historical facts but are forward-looking statements. These statements can be identified

by the use of forward-looking terminology such as “aim,” “anticipate,” “believe,” “can,”

“could,” “continue,” “estimate,” “expect,” “evaluate,” “forecast,”

“guidance,” “intend,” “likely,” “may,” “might,” “objective,”

“ongoing,” “outlook,” “plan,” “potential,” “predict,” “probable,”

“project,” “seek,” “should,” “target” “view,” “will,” or “would,”

or the negative thereof or other variations thereon or comparable terminology, although not all forward-looking statements contain these

words. These statements reflect the Company’s reasonable judgment with respect to future events and are subject to risks, uncertainties

and other factors, many of which have outcomes difficult to predict and may be outside our control, that could cause actual results or

outcomes to differ materially from those in the forward-looking statements. Such risks and uncertainties include statements relating

to the Company’s ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its

products and technologies and integrate its products and technologies with First-party platforms or technologies; the Company’s

efforts and ability to drive the adoption of its products and technologies as a standard feature, including their use in homes, hotels,

offices and cruise ships; the Company’s ability to capture market share; the Company’s estimates of its potential addressable

market and demand for its products and technologies; the Company’s ability to raise additional capital to support its operations

as needed, which may not be available on acceptable terms or at all; the Company’s ability to continue as a going concern; the

Company’s ability to execute on any sales and licensing or other strategic opportunities; the possibility that any of the Company’s

products will become National Electrical Code (NEC)-code or otherwise code mandatory in any jurisdiction, or that any of the Company’s

current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at

all; risks arising from mergers, acquisitions, joint ventures and other collaborations; the Company’s ability to attract and retain

key executives and qualified personnel; guidance provided by management, which may differ from the Company’s actual operating results;

the potential impact of unstable market and economic conditions, including recent measures adopted by the federal government, on the

Company’s business, financial condition, and stock price; and other risks and uncertainties described in the Company’s filings

with the Securities and Exchange Commission, including its periodic reports on Form 10-K and Form 10-Q. There can be no assurance as

to any of the foregoing matters. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes

no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise,

except as required by U.S. federal securities laws.

Non-GAAP

Financial Measures

Management

considers earnings (loss) before interest, taxes, depreciation and amortization, or EBITDA, as adjusted, an important indicator in evaluating

the Company’s business on a consistent basis across various periods. Due to the significance of non-recurring items, EBITDA, as

adjusted, enables management to monitor and evaluate the business on a consistent basis. The Company uses EBITDA, as adjusted, as a primary

measure, among others, to analyze and evaluate financial and strategic planning decisions regarding future operating investments and

potential acquisitions. The Company believes that EBITDA, as adjusted, eliminates items that are not part of the Company’s core

operations, such as interest expense and amortization expense associated with intangible assets, or items that do not involve a cash

outlay, such as share-based payments and non-recurring items, such as transaction costs. EBITDA, as adjusted, should be considered in

addition to, rather than as a substitute for, pre-tax income (loss), net income (loss) and cash flows used in operating activities. This

non-GAAP financial measure excludes significant expenses that are required by GAAP to be recorded in the Company’s financial statements

and is subject to inherent limitations. Investors should review the reconciliation of this non-GAAP financial measure to the comparable

GAAP financial measure. Investors should not rely on any single financial measure to evaluate the Company’s business.

Investor

Relations Contact:

Jeff

Ramson

PCG

Advisory

jramson@pcgadvisory.com

Ronald

A. Both

Encore

Investor Relations

rb@encore-ir.com

Dial-In

Information:

Participating

Management

SKYX

Participating Members will Include:

● Rani

Kohen, Founder and Executive Chairman

● Lenny

Sokolow, CEO

● Steve

Schmidt, SKYX President (former CEO of Nielsen Data Corporation and former President of Office

Depot International)

● Marc

Boisseau, CFO

Conference

Call and Webcast Details

Event

SKYX

Platforms Corp. Second Quarter 2026 Earnings Conference Call

Date

Wednesday,

August 12, 2026

Time

4:30

p.m. Eastern Time

Participant

dial-in

1-877-407-0792

(U.S./Canada) or 1-201-689-8263 (International)

Webcast

https://viavid.webcasts.com/starthere.jsp?ei=1772283&tp_key=ec3a5f5c6f

Call

me™:

https://callme.viavid.com/viavid/?callme=true&passcode=13760591&h=true&info=company&r=true&B=6

Participants

may use the dial-in numbers above and be assisted by an operator or use the Call me™ link for instant telephone access. The Call

me™ link will become active 15 minutes before the scheduled start time.

Please

connect at least 10 minutes before the start of the call to ensure timely participation.

Telephone

Replay

telephone replay is expected to be available approximately three hours after the conference call and will remain available through Friday,

September 11, 2026, at 11:59 p.m. Eastern Time.

Replay

dial-in: 1-844-512-2921 or 1-412-317-6671

SKYX

PLATFORMS CORP.

CONSOLIDATED

BALANCE SHEETS

(Unaudited)

(Audited)

June 30, 2026

December 31, 2025

Assets

Current assets:

Cash and cash equivalents

$ 25,661,471

$ 8,052,621

Accounts receivable

2,391,529

1,891,488

Inventory

4,329,056

4,250,168

Prepaid expenses and other assets

1,582,921

1,206,639

Total current assets

33,964,977

15,400,916

Long-term assets:

Property and equipment, net

1,174,819

1,347,640

Restricted cash

2,050,000

Right of use assets

16,297,093

17,502,685

Intangibles, definite life

4,254,042

5,051,949

Goodwill

16,157,000

Other assets

204,836

205,044

Total long-term assets

40,137,790

42,314,318

Total assets

$ 74,102,767

$ 57,715,234

Liabilities and stockholders’ equity (deficit)

Current liabilities

Accounts payable and accrued expenses

$ 16,849,762

$ 16,014,585

Notes payable

84,153

356,474

Operating lease liabilities

2,464,494

2,589,994

Royalty obligations

925,000

1,300,000

Deferred revenues

2,367,098

2,082,622

Convertible notes related parties

332,639

350,000

Convertible notes

174,999

1,884,347

Total current liabilities

23,198,145

24,578,022

Long term liabilities

Long term accounts payable

664,573

552,354

Notes payable

145,022

Operating lease liabilities

16,645,760

17,791,453

Convertible notes

14,793,767

14,236,769

Total long-term liabilities

32,249,122

32,725,598

Total liabilities

55,447,267

57,303,620

Mezzanine equity

Series A Preferred Stock-shares authorized 400,000, outstanding 200,000 and 200,000

5,000,000

Stockholders’ equity (deficit)

Series A-1 Preferred Stock-shares authorized 480,000, outstanding 253,000 and 292,000

6,149,167

7,124,167

Series A-2 Preferred Stock-shares authorized 160,000, outstanding 60,000 and 60,000

1,500,000

Common stock and additional paid-in-capital: shares authorized 500,000,000 outstanding 135,228,628 and 117,666,800

240,270,643

203,046,051

Accumulated deficit

(234,264,310 )

(216,258,604 )

Total stockholders’ equity (deficit)

13,655,500

(4,588,386 )

Total Liabilities and stockholders’ equity (deficit)

$ 74,102,767

$ 57,715,234

The

accompanying notes are an integral part of the unaudited consolidated financial statements.

SKYX

PLATFORMS CORP.

CONSOLIDATED

STATEMENTS OF OPERATIONS

(UNAUDITED)

(Unaudited)

For the three months ended

June 30,

For the six months ended

June 30,

2026

2025

2026

2025

Revenue

$ 25,270,500

$ 23,061,655

$ 47,364,889

$ 43,175,593

Operating expenses

Cost of revenues

17,977,665

16,064,486

33,446,611

30,466,974

Selling and marketing expenses

6,785,963

6,185,017

13,853,792

13,012,437

General and administrative expenses

7,578,762

8,333,265

15,298,536

14,930,320

Total expenses, net

32,342,390

30,582,768

62,598,939

58,409,731

Loss from operations

(7,071,890 )

(7,521,113 )

(15,234,050 )

(15,234,138 )

Other expenses

Interest expense - related party

8,847

17,946

17,597

35,696

Interest expense, net

1,143,347

1,287,870

2,248,014

2,609,223

Total other expenses, net

1,152,194

1,305,816

2,265,611

2,644,919

Net loss

(8,224,084 )

(8,826,929 )

(17,499,661 )

(17,879,057 )

Preferred dividends - related party

15,000

10,000

30,000

20,000

Preferred dividends

241,500

259,226

476,045

468,374

Net loss attributed to common stockholders

$ (8,480,584 )

$ (9,096,155 )

$ (18,005,706 )

$ (18,367,431 )

Net loss per share - basic and diluted

$ (0.06 )

$ (0.08 )

$ (0.14 )

$ (0.17 )

Weighted average number of common shares outstanding – basic and diluted

134,536,560

107,117,216

132,022,211

105,776,714

The

accompanying notes are an integral part of the unaudited consolidated financial statements.

SKYX

PLATFORMS CORP.

CONSOLIDATED

STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT)

(UNAUDITED)

(Unaudited)

For the three months ended

June 30,

For the six months ended

June 30,

2026

2025

2026

2025

Shares of preferred stock (Series A-1)

Balance, beginning of period

253,000

260,000

292,000

240,000

Preferred stock Conversion to common

(39,000 )

(20,000 )

Preferred stock issued pursuant to offerings

114,000

154,000

Balance, end of period

253,000

374,000

253,000

374,000

Preferred stock (Series A-1)

Balance, beginning of period

$ 6,149,167

$ 6,500,000

$ 7,124,167

$ 6,000,000

Preferred stock Conversion to common

(975,000 )

(500,000 )

Preferred stock issued pursuant to offerings

2,674,167

3,674,167

Balance, end of period

$ 6,149,167

$ 9,174,167

$ 6,149,167

$ 9,174,167

Shares of preferred stock (Series A-2)

Balance, beginning of period

60,000

Preferred stock Conversion to common

Preferred stock issued pursuant to offerings

Balance, end of period

60,000

Preferred stock (Series A-2)

Balance, beginning of period

$ 1,500,000

$ -

$ 1,500,000

$ -

Preferred stock Conversion to common

Preferred stock issued pursuant to offerings

Balance, end of period

$ 1,500,000

$ -

$ 1,500,000

$ -

Shares of common stock

Balance, beginning of period

133,487,783

104,952,630

117,666,800

103,358,975

Common stock issued pursuant to offerings

3,651,257

12,000,000

3,875,013

Common stock issued pursuant to conversion of preferred stock

812,501

251,935

Common stock issued pursuant to preferred dividends

9,397

14,923

Common stock issued pursuant to conversion of notes and accrued interest

674,253

914,901

Common stock issued pursuant to exercise of options and warrants

1,301,667

Common stock issued pursuant to services

1,057,195

2,177,304

2,517,836

3,295,268

Balance, end of period

135,228,628

110,781,191

135,228,628

110,781,191

Common stock and paid-in capital

Balance, beginning of period

$ 236,957,871

$ 183,832,707

$ 203,046,051

$ 179,837,253

Common stock issued pursuant to offerings

4,221,956

27,392,004

4,672,383

Common stock issued pursuant to conversion of preferred stock

975,000

500,000

Common stock issued pursuant to preferred dividends

15,000

23,044

3,870

Common stock issued pursuant to conversion of notes and accrued interest

761,163

1,288,949

Common stock issued pursuant to exercise of options and warrants

1,911,101

Common stock issued pursuant to services

2,536,609

3,612,365

5,634,494

6,653,522

Balance, end of period

$ 240,270,643

$ 191,667,028

$ 240,270,643

$ 191,667,028

Accumulated Deficit

Balance, beginning of period

$ (225,783,726 )

$ (191,055,101 )

$ (216,258,604 )

$ (181,783,825 )

Preferred dividends

(256,500 )

(269,226 )

(506,045 )

(488,374 )

Net loss

(8,224,084 )

(8,826,929 )

(17,499,661 )

(17,879,057 )

Balance, end of period

$ (234,264,310 )

$ (200,151,256 )

$ (234,264,310 )

$ (200,151,256 )

Total Stockholders’ Equity (deficit)

$ 13,655,500

$ 689,939

$ 13,655,500

$ 689,939

The

accompanying notes are an integral part of the unaudited consolidated financial statements.

SKYX

PLATFORMS CORP.

CONSOLIDATED

STATEMENTS OF CASH FLOWS

(UNAUDITED)

(Unaudited)

For the six months ended

June 30,

2026

2025

Operations:

Net loss

$ (17,499,661 )

$ (17,879,057 )

Adjustments to reconcile net loss to net cash used in operating activities

Depreciation and amortization

2,268,397

2,280,154

Amortization of debt discount

556,998

Non-cash equity-based compensation expense

5,634,494

6,653,522

Equity-based payment of interest

699,998

Change in operating assets and liabilities

Inventory

(78,889 )

680,904

Accounts receivable

(500,041 )

84,663

Prepaid expenses and other assets

(376,074 )

(615,235 )

Deferred revenues

284,476

906,280

Operating lease liabilities

(1,271,193 )

(1,141,327 )

Royalty obligation

(375,000 )

(200,000 )

Accounts payable and accrued expenses

970,440

2,363,320

Net cash used in operating activities

(9,686,055 )

(6,309,778 )

Investing:

Purchase of property and equipment

(92,076 )

(775,365 )

Net cash used in investing activities

(92,076 )

(775,365 )

Financing:

Proceeds from issuance of common stock - offerings

29,000,000

4,809,138

Placement cost

(1,607,996 )

(312,588 )

Dividends paid

(506,045 )

(484,504 )

Proceeds from issuance of preferred stocks

3,850,000

Proceeds from exercise of warrants and options

1,911,101

Principal repayments of notes payable

(1,410,079 )

(569,790 )

Net cash provided by financing activities

27,386,981

7,292,256

Change in cash and cash equivalents, and restricted cash

17,608,850

207,113

Cash, cash equivalents and restricted cash at beginning of the period

10,102,621

15,500,495

Cash, cash equivalents and restricted cash at end of period

$ 27,711,471

$ 15,707,608

Cash paid during the period for:

Interest

1,139,304

1,378,223

Taxes

$ -

Supplementary disclosure of non-cash financing activities:

Fair value of shares to satisfy obligations under convertible notes

$ 588,950

$ -

Preferred stock conversion to common stock

975,000

500,000

Accrued dividends payable

23,044

The

accompanying notes are an integral part of the unaudited consolidated financial statements.

Non-GAAP

Financial Measures

Management

considers earnings (loss) before interest, taxes, depreciation and amortization, or EBITDA, as adjusted, an important indicator in evaluating

our business on a consistent basis across various periods. Due to the significance of non-recurring items, EBITDA, as adjusted, enables

our management to monitor and evaluate our business on a consistent basis. We use EBITDA, as adjusted, as a primary measure, among others,

to analyze and evaluate financial and strategic planning decisions regarding future operating investments and potential acquisitions.

We believe that EBITDA, as adjusted, eliminates items that are not part of our core operations, such as interest expense and amortization

and impairment expense associated with intangible assets, or items that do not involve a cash outlay, such as share-based payments and

non-recurring items, such as transaction costs. EBITDA, as adjusted, should be considered in addition to, rather than as a substitute

for, pre-tax income (loss), net income (loss) and cash flows used in operating activities. This non-GAAP financial measure excludes significant

expenses that are required by GAAP to be recorded in our financial statements and is subject to inherent limitations. Investors should

review the reconciliation of this non-GAAP financial measure to the comparable GAAP financial measure included below. Investors should

not rely on any single financial measure to evaluate our business.

For the three months ended

June 30,

For the six months ended

June 30,

2026

2025

2026

2025

Net loss

$ (8,224,084 )

$ (8,826,929 )

$ (17,499,661 )

$ (17,879,057 )

Share-based payments

2,536,609

3,612,364

5,634,494

6,653,522

Interest expense

1,152,194

1,305,816

2,265,611

2,644,919

Depreciation, amortization

1,001,961

1,272,337

2,181,184

2,280,154

EBITDA, as adjusted

$ (3,533,320 )

$ (2,636,412 )

$ (7,418,372 )

$ (6,300,462 )

GRAPHIC

Filename: ex99-1_001.jpg · Sequence: 3

Binary file (6524 bytes)

Download ex99-1_001.jpg

XML — IDEA: XBRL DOCUMENT

XML

Filename: R1.htm · Sequence: 8

v3.26.1

Cover

Aug. 12, 2026

Cover [Abstract]

Document Type

8-K

Amendment Flag

false

Document Period End Date

Aug. 12, 2026

Entity File Number

001-41276

Entity Registrant Name

SKYX

PLATFORMS CORP.

Entity Central Index Key

0001598981

Entity Tax Identification Number

46-3645414

Entity Incorporation, State or Country Code

Entity Address, Address Line One

2855

W. McNab Road

Entity Address, City or Town

Pompano

Beach

Entity Address, State or Province

Entity Address, Postal Zip Code

33069

City Area Code

(855)

Local Phone Number

759-7584

Written Communications

false

Soliciting Material

false

Pre-commencement Tender Offer

false

Pre-commencement Issuer Tender Offer

false

Title of 12(b) Security

Common

Stock, no par value per share

Trading Symbol

SKYX

Security Exchange Name

NASDAQ

Entity Emerging Growth Company

false

- Definition

Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.

+ References

No definition available.

+ Details

Name:

dei_AmendmentFlag

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Area code of city

+ References

No definition available.

+ Details

Name:

dei_CityAreaCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Cover page.

+ References

No definition available.

+ Details

Name:

dei_CoverAbstract

Namespace Prefix:

dei_

Data Type:

xbrli:stringItemType

Balance Type:

Period Type:

duration

- Definition

For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

+ References

No definition available.

+ Details

Name:

dei_DocumentPeriodEndDate

Namespace Prefix:

dei_

Data Type:

xbrli:dateItemType

Balance Type:

Period Type:

duration

- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

+ References

No definition available.

+ Details

Name:

dei_DocumentType

Namespace Prefix:

dei_

Data Type:

dei:submissionTypeItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 1 such as Attn, Building Name, Street Name

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine1

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the City or Town

+ References

No definition available.

+ Details

Name:

dei_EntityAddressCityOrTown

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Code for the postal or zip code

+ References

No definition available.

+ Details

Name:

dei_EntityAddressPostalZipCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the state or province.

+ References

No definition available.

+ Details

Name:

dei_EntityAddressStateOrProvince

Namespace Prefix:

dei_

Data Type:

dei:stateOrProvinceItemType

Balance Type:

Period Type:

duration

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityCentralIndexKey

Namespace Prefix:

dei_

Data Type:

dei:centralIndexKeyItemType

Balance Type:

Period Type:

duration

- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityEmergingGrowthCompany

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

dei_

Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

dei_

Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityRegistrantName

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

dei_

Data Type:

dei:employerIdItemType

Balance Type:

Period Type:

duration

- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

+ Details

Name:

dei_PreCommencementIssuerTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

+ Details

Name:

dei_PreCommencementTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

+ Details

Name:

dei_Security12bTitle

Namespace Prefix:

dei_

Data Type:

dei:securityTitleItemType

Balance Type:

Period Type:

duration

- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

dei_

Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

dei_

Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

Name:

dei_WrittenCommunications

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration