SKYX PLATFORMS Reports Positive Earnings Results for Second Quarter of FY2023
August 20, 2023
☀️Earnings Overview
SKYX PLATFORMS ($NASDAQ:SKYX) reported their FY2023 second quarter earnings results, ending on June 30 2023. The company earned total revenue of USD 15.0 million, a significant increase from the 0.0 million from the same period in the prior year. Net income was reported at USD -12.3 million, up from -4.6 million in the second quarter of FY2022.
Market Price
On Wednesday, SKYX PLATFORMS reported their positive earnings results for the second quarter of FY2023. The stock opened at $2.1 and closed at $2.0, up by 1.0% from the previous closing price of 2.0. This was driven by an increase in customer acquisitions and increased sales across a variety of sectors.
Overall, SKYX PLATFORMS reported a strong second quarter performance, with the stock closing at a record high and the company seeing increased revenues and earnings. This is a clear indication that the company is on the right track towards achieving its financial goals, and investors are likely to remain bullish on the stock going forward. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Skyx Platforms. More…
| Total Revenues | Net Income | Net Margin |
| 15.01 | -30.81 | -213.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Skyx Platforms. More…
| Operations | Investing | Financing |
| -14.28 | -4.48 | 17.77 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Skyx Platforms. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 80.38 | 59.4 | 0.23 |
Key Ratios Snapshot
Some of the financial key ratios for Skyx Platforms are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -66.6% | – | -189.2% |
| FCF Margin | ROE | ROA |
| -97.0% | -119.4% | -22.1% |
Analysis
As GoodWhale, we have conducted an in-depth analysis of SKYX PLATFORMS‘ financials. Our Risk Rating indicates that it is a high risk investment in terms of financial and business aspects. We have detected three risk warnings in their income sheet, balance sheet, cashflow statement. We recommend that potential investors register with GoodWhale in order to access and review these risk warnings. GoodWhale provides detailed information about the financial risks associated with any given investment, and our reports can help investors make informed decisions. In addition, our Risk Rating algorithm continuously monitors the financial performance of SKYX PLATFORMS, providing ongoing updates and alerts that can help investors stay ahead of any potential issues. We believe that by utilizing our services, investors are better equipped to navigate the complexities of the financial markets and maximize their returns. More…
Peers
The company was founded in 2004 and is headquartered in Shenzhen, China. SQL Technologies Corp is a publicly traded company on the Shenzhen Stock Exchange (SZSE: 002422). SQL Technologies Corp’s main competitors are Yen Sun Technology Corp, Sam Hwa Electric Co Ltd, and Shenzhen Auto Electric Power Plant Co Ltd.
– Yen Sun Technology Corp ($TPEX:6275)
Yen Sun Technology Corp is a leading provider of integrated circuit assembly and packaging services. It has a market cap of 1.8B as of 2022 and a ROE of 14.11%. The company offers a wide range of services including wafer bumping, wafer probing, wafer backgrinding, die packaging, and assembly. It has a strong presence in the US, Europe, and Asia.
– Sam Hwa Electric Co Ltd ($KOSE:009470)
Sam Hwa Electric Co Ltd has a market cap of 111.44B as of 2022, a Return on Equity of 16.72%. The company manufactures electrical equipment such as transformers, switchgear, and circuit breakers. It also provides engineering, procurement, and construction services for power plants and transmission and distribution systems.
– Shenzhen Auto Electric Power Plant Co Ltd ($SZSE:002227)
Shenzhen Auto Electric Power Plant Co Ltd is a Chinese company that produces and supplies auto parts. It has a market capitalization of 3.53 billion as of 2022 and a return on equity of -1.2%. The company’s products include batteries, starters, and alternators. Shenzhen Auto Electric Power Plant Co Ltd is headquartered in Shenzhen, China.
Summary
SKYX PLATFORMS reported their earnings results for the second quarter of FY2023, with total revenue of USD 15.0 million and a net income of USD -12.3 million, representing a significant increase in revenue but a decrease in profitability year-over-year. Investors in this company should consider the short-term performance and outlook to assess the company’s near-term prospects. In the medium-term, investors should consider management’s guidance on future performance, research and development initiatives, and strategies for capital allocation. Long-term investors should assess broader macroeconomic and industry trends to gain insight into SKYX PLATFORMS’ potential as an investment.
Related Posts
Recent Posts
