news release noted.is debuting its new All-in-One Smart Platform and its other patented smart home technology, at CES 2024 in Las Vegas, Nev., the renowned annual consumer electronics trade show, January 9-12 in the Venetian Expo Hall, Booth 52029, a
"The All-in-One Smart Platform is a game changer that exemplifies our commitment to home safety, quality, and excellence while pushing the boundaries of technology and redefining the future of the smart home and lighting industries," Rani Kohen, founder and executive chairman for SKYX, said in the release.
SKYX expects the new platform, able to instantly turn new and existing homes into smart homes, will be available to consumers after the next quarter. Installing is easy; it just plugs into SKYX's patented SkyPlug ceiling outlet. The All-in-One Platform integrates with Apple Siri, Amazon Alexa, Google Home, Samsung Smart Things, Cortana, and more. Users can also control the system via app or by voice.
The platform's features include a house intercom, premium smart speaker, smoke and carbon monoxide detector, connectivity to Wi-Fi/Bluetooth and Matter, a Wi-Fi extender, and plug-and-play lighting capability. Other elements include an energy-saving mode, color-changing room ambiance options, night lights, and emergency lights using onboard battery storage.
Making Homes and Buildings Smart and Safe
Florida, U.S.-based SKYX Platforms provides smart home products for residential and commercial uses. It has a series of advanced, safe, smart platform technologies, one of which garnered five awards at CES 2023 and two awards at CES 2024. The company's portfolio of intellectual property also includes 77 U.S. and global patents and pending patent applications, as well as more than 60 lighting and home décor websites.
SKYX's technology boasts "tactical advantages, growth drivers, and earnings leverage potential," Leo Carpio, an analyst at Joseph Gunnar & Co., wrote.
SKYX's technology boasts "tactical advantages, growth drivers, and earnings leverage potential," Leo Carpio, an analyst at Joseph Gunnar & Co., wrote in a November 28 research report.
Chris Temple, editor/publisher of The National Investor, described SKYX's products in a September 2023 article as "disruptive" to existing technology.
"Such breakthrough products/technology, which end up becoming part of all our everyday lives, don't come around that often," he said.
SKYX's recent developments include extending its master service agreement with GE Technology Development, Inc., a GE Inc. subsidiary, for five more years. Also, SKYX agreed to supply about 1,000 new homes in Florida with its advanced smart home platform technology products.
Significant Growth Forecasted for Sector
The U.S. smart home technology market, a favorite among consumers, is on an upward trajectory and projected to keep growing throughout the 2020s, data from Statista indicate. By 2028, for instance, the market is expected to hit US$55 billion in value, reflecting a compounded annual growth rate of 9.7%.
"Such breakthrough products/technology, which end up becoming part of all our everyday lives, don't come around that often," Chris Temple said.
Also, over the next four years, according to Statista, the base of smart home technology users is forecasted to expand another 118% and reach a new high of 785 million (785M) people.
Several macroeconomic trends are driving the smart home technology sector's growth, noted Venture Crowd, an Australian multi-asset class crowdfunding platform. These include increases in numerous areas, including: consumer demand, awareness of energy efficiency, interest in home automation, adoption of smart tech in new home construction, and number of devices connected to the Internet of Things.
As for the latter, Statista research shows the number of IoT devices worldwide is expected to nearly double to more than 29 billion by 2030 from the estimated 15 billion now.
In the near term, SKYX anticipates receiving orders for its newest product, the All-in-One Smart Platform, slated to hit the consumer market after the next quarter. The company also expects the sale of its existing products, such as SkyPlug, to continue and grow.
Temple said now is an ideal time to invest in this innovative tech company.
"I think SKYX's story is one of those that will be on everyone's lips not many years hence, and this remains very much a ground-floor opportunity to be a part of it as an investor, I.M.O," he added.
Technical Analyst Clive Maund, in August, indicated SKYX's stock was likely to advance after its trading pattern formed the third low of a triple bottom. He recommended buying it on weakness.
Streetwise Ownership Overview*
Ownership and Share Structure
Reuters reports that SKYX has about 92M outstanding shares and roughly 49M free-floating shares.
As for ownership, management and insiders hold 22.16%, nearly one-quarter, of SKYX. These individuals, listed from highest to lowest ownership percentage, are Director Dov Shiff, who holds 16.28% of the company (15M shares), Investor Steven Siegelaub, with 3.49% (3.21M shares), Co-Chief Executive Officer John P. Campi, with 1.3% (1.2M shares) and Director Thomas J. Ridge, with 1.09% (1M shares).
Collectively, institutions own 29.69% of SKYX. They are KRNB Holdings LLC with 9.92% (9.14M shares), Motek 7 SQL LLC with 6.64% (6.12M shares), Strul Associates LP with 5.98% (5.51M shares), BlackRock Institutional Trust Co. with 3.39% (3.12M), The Vanguard Group Inc. with 2.5% (2.3M shares) and Geode Capital Management LLC with 1.26% (1.16M shares).
SKYX has a market cap of US$161.3 million and a 52-week trading range of US$0.21 to US$4.13 per share.
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- [SKYX Platforms Corp.] has a consulting relationship with an affiliate of Streetwise Reports, and pays a monthly consulting fee between US$8,000 and US$20,000.
- As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of [SKYX Platforms Corp.].
- [Doresa Banning] wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor.
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