Tuesday, May 12, 2026
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Overview. The first quarter of 2026 was the 9th consecutive quarter of year-over-year revenue growth, with the quarter generating record revenue for the Company. SKYX is continuing its growth despite the slow new-build market that is affecting smart home, lighting, and home decor segments. This bodes well for when the markets eventually turn, in our view.
1Q26 Results. Record 1Q26 revenue of $22.1 million, up 9.8% over 1Q25 revenue of $20.1 million. Gross margin improved 160bp to 30% from 28.4% in the year-ago period. Net loss of $9.5 million was up slightly from a net loss of $9.3 million in 1Q25, driven by higher G&A expenses, although on a per share basis, net loss declined to $0.07 from $0.09. Adjusted EBITDA was a negative $3.8 million in 1Q26 compared to a negative $3.6 million last year.
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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
