SKYX Provides a Corporate Update as It Continues to Grow Its Market Penetration in the Builder and Hotel Segments

MIAMI, Oct. 22, 2026 (GLOBE NEWSWIRE) -- SKYX Platforms Corp. (NASDAQ: SKYX) (the “Company” or “SKYX”), a highly disruptive platform technology company with over 120 patents and pending applications globally and over 60 lighting and home décor websites, with a mission to make homes and buildings safe and smart as the new standard, today provides a corporate update.

Highlights Recent Events * The combined SKYX and Deako pipeline is estimated at over 4 million units with an expected average selling price of approximately $50 per product. * SKYX’s subsidiary Deako announced it will supply over 80,000 units to 1,000 homes of prominent builder Maronda Homes. * The Company recently signed an agreement to supply two 65 stories luxury Trump Towers with over 2.2 million SQF in one of India’s leading tech cities Hyderabad, expecting to deploy tens of thousands of units. * SKYX recently announced it will supply its technologies during a renovation of a Marriott city center hotel in Durham, NC. Maintaining Strong Cash Position * The Company reported $27.7 million in total cash, cash equivalents, and restricted cash as of the end of the second quarter of 2026 and continues to maintain a strong cash position to achieve its business goals, including achieving positive cash flow as it exits 2026. * The Company reported 10 consecutive quarters of year-over-year growth and expects to continue this pattern of quarterly growth. SKYX Patented Turbo Heater Fan * Despite a very hot summer, SKYX’s sales of its patented Turbo Heater Fan continued to grow during the summer with all retailers, including Home Depot, Lowe’s, Target, Walmart, Costco, Amazon, Wayfair, and through SKYX’s e-commerce platform of 60 websites. * The Company expects sales of its Turbo Heater Fan to grow significantly during the fall and winter seasons in both the retail and builder segments. * Due to increasing demand, SKYX intends to launch new designs in both larger and smaller sizes and in five different colors. SKYX Deako Merger Highlights