What is SKYX Platforms Corp.'s letter of credit?

SKYX Platforms Corp. (SKYX) reported letter of credit of $2.7M in Q3 2022.

What does letter of credit mean?

This represents a financial guarantee issued by a bank on behalf of the company to ensure payment to a third party. It is a critical indicator of the company's creditworthiness and its ability to secure trade or operational contracts.

SKYX Platforms Corp. SKYX Letter Of Credit

Letter Of Credit at other companies

CitigroupC

$2.8B0.0%

OFG BancorpOFG

$74K-96.8%

Imperial OilIMO

$668M+40.6%

State StreetSTT

$461M-43.2%

General DynamicsGD

$2.1B0.0%

Gran Tierra EnergyGTE

$500K—

Other financials

Income statement

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Revenue$22.1M+9.8%

Gross profit$6.6M+16.0%

Operating income-$8.2M-5.8%

Net income-$9.3M-2.5%

EPS (diluted)-$0.07+22.2%

Balance sheet

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Cash & equivalents$32.3M+242%

Total debt$39.9M+77.1%

Total equity$18.8M+2,706%

Total assets$77.9M+23.4%

Cash flow

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Operating cash flow-$6.0M-39.1%

CapEx$94.0K-77.3%

Free cash flow-$6.1M-28.9%

Valuation

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Market cap$139.86M+3.0%

Enterprise value$147.45M-14.6%

P/S1.5×0.0×

Profitability

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Gross margin30.6%+2.3pp

Operating margin-31.5%-3.2pp

Net margin-35.8%-3.5pp

FCF margin-17.7%-2.1pp

Returns & leverage

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Return on equity-717.7%-1,447pp

Debt / equity2.1×—

Current ratio1.7×+1.1×

Where this comes from

Reported directly by SKYX Platforms Corp. in its filing.

Tagged under the XBRL concept SKYX:LetterOfCredit.

The official record: SKYX Platforms Corp.’s 10-K/A, filed March 27, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is SKYX Platforms Corp.'s letter of credit?: SKYX Platforms Corp. (SKYX) reported letter of credit of $2.7M in Q3 2022.
What does letter of credit mean?: This represents a financial guarantee issued by a bank on behalf of the company to ensure payment to a third party. It is a critical indicator of the company's creditworthiness and its ability to secure trade or operational contracts.