Thursday, May 21, 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. We had the opportunity to chat with SKYX management this week following the Company’s first-quarter earnings release. In short, management believes momentum continues to build with new agreements in the European hospitality business, the ongoing AI upgrading of the retail websites platform, recent capital raises which provide a runway to cash flow positive, and the potential for regulatory reform.
Key Drivers. The announced major construction and hospitality projects represent over one million units alone, with several projects projected to begin ordering this year, while management expects to deploy 100,000 units by year-end through the retail and pro channels. Turbo Heater retail sales are exceeding expectations, and the Company is developing additional line extensions here. The economy and, in particular, the housing market, remain a variable that could impact the pace of sales, in our view.
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