31% Revenue Surge and 970% Net Income Increase Highlight Robust Performance
MISSISSAUGA, ON - March 18, 2025 (NEWMEDIAWIRE) - Skkynet Cloud Systems, Inc. (“Skkynet” or “the Company”) (OTCQB: SKKY), a global leader in real-time data communications technology for industrial systems, is pleased to announce its financial results for the first quarter ending January 31, 2025. The company achieved 31% year-over-year revenue growth, with quarterly revenues of $828,052, up from $630,536 for the same period in 2024. Net income experienced a large increase, up by 970% to $229,063, compared to $21,384 in the previous year’s first quarter, resulting in a 28% net margin on sales. This performance has bolstered Skkynet’s cash reserves, resulting in a robust cash position of $1.31 million.
Paul Thomas, President of Skkynet, expressed his enthusiasm, stating, “Our Q1 2025 results are a testament to the dedication of our team and the escalating demand for secure, real-time data communication solutions in the industrial sector. The substantial revenue and net income growth show us that the market is recognizing the value we bring to modern industrial operations. We expect earnings to grow faster than costs for the foreseeable future.”
Aarif Nakhooda, Senior Advisor for Artificial Intelligence at Skkynet, commented on the Company’s strategic direction, “The integration of artificial intelligence into industrial systems is no longer a future prospect but a present reality. Skkynet’s strong financial performance will enable further investment in AI-driven solutions, positioning it at the forefront of industrial innovation and ensuring that clients are equipped to benefit from cutting-edge technologies.”
Skkynet’s Q1 2025 performance reflects its strategic focus on innovation, customer-centric solutions, and operational excellence. As sector demand continues to ramp up, the company’s robust sales and integration platform set a strong foundation for accelerating growth and leadership in industrial data communications.
About Skkynet
Skkynet Cloud Systems, Inc. (OTCQB: SKKY) provides real-time, secure, and reliable communication technologies for industrial automation, AI-driven operations, and Industry 4.0. Skkynet’s solutions empower organizations to optimize operations, enhance efficiency, and drive innovation by connecting, monitoring, and controlling their systems in real time while maintaining robust security and data privacy standards.
For more information, visit skkynet.com.
Safe Harbor
This news release contains “forward-looking statements” as that term is defined in the United States Securities Act of 1933, as amended and the Securities Exchange Act of 1934, as amended. Statements in this press release that are not purely historical are forward-looking statements, including beliefs, plans, expectations or intentions regarding the future, and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors, such as the inherent uncertainties associated with new business opportunities and development stage companies. Skkynet assumes no obligation to update the forward-looking statements. Although Skkynet believes that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate. Investors should refer to the risk factors disclosure outlined in Skkynet’s annual report on Form 10-K for the most recent fiscal year, quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the U.S. Securities and Exchange Commission.
Contact
Skkynet Cloud Systems, Inc.
Paul E. Thomas, President
Tel: (888) 702-7851
Web: https://skkynet.com
Email: ir@skkynet.com
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