Skkynet Reaches Record Sales Growth in First Quarter

Mississauga, Ontario, March 18, 2024Skkynet Cloud Systems, Inc. (“Skkynet” or “the Company”) (OTCQB: SKKY) is pleased to announce its quarter-end operating and financial results for the period ended January 31, 2024.  The Company reported a record first quarter revenue of $630,536 compared to $492,119 for the same period in 2023, a 28% year over year revenue growth. Comprehensive income from operations for the 3-month period was $23,951 compared to a loss of $144,627 for the same period in 2023 due to increased sales.

“Skkynet’s growing sales and expanding channels have maintained the Company’s upward growth trend.  We had a very successful quarter in elevating our marketing presence, attracting new partners, and maintaining our strong cash position,” stated Andrew Thomas, CEO.  “Demand for secure access to remote industrial systems is strong and continues to grow.  Our Q1 results reflect our confident outlook for 2024.”

“We maintain our focus on building new industry partnerships, such our recent partnering with Becolve Digital, S.A. in Spain, and Davinco SPA in Chile, so we can target high-growth industrial sectors and regions,” said Paul Thomas, President of Skkynet. “In Q2, we expect to build on our forward momentum with the launch of our most ambitious software release yet, which includes several new features, improved performance and enhanced security to meet our enterprise customers’ needs.”

The new Cogent DataHub® features, combined with the Cogent DataHub service on Azure, can turn the dream of the real-time enterprise into reality. Expanding a real-time approach from the production line to management and then to the entire enterprise is where manufacturing is headed.  Our solutions are leading the way.  Skkynet’s products and services—DataHub software for in-plant, our cloud service for Microsoft Azure, and ETK for embedded devices—provide secure access to industrial data through open, standard industrial protocols, allowing users to fully integrate OT with IT systems and other applications anywhere in the world. Secure by design, Skkynet’s solution requires no VPN, no open firewall ports, no special programming, and no additional hardware. Secure integration of embedded devices, on-premise systems, and remote locations through seamless, end-to-end connectivity in real time lets users derive maximum value from Industrial IoT and Industry 4.0. For more information, visit: https://skkynet.com/investors/

About Skkynet

Skkynet Cloud Systems, Inc. (OTCQB: SKKY) is a global leader and innovator in real-time information systems. Skkynet’s leading-edge platform includes the award-winning Cogent DataHub® software, Cogent DataHub service on Microsoft Azure, and Embedded Toolkit (ETK) software. The platform enables real-time data connectivity for industrial, embedded, and financial systems, with no programming required. Skkynet’s platform is uniquely positioned for the “Internet of Things” and “Industry 4.0” because unlike the traditional approach for networked systems, Skkynet’s architecture is secure by design.

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.

Skkynet Reports Strong Sales Growth and Robust Profitability in Third Quarter

Mississauga, Ontario, September 19, 2023Skkynet Cloud Systems, Inc. (“Skkynet” or “the Company”) (OTCQB: SKKY) is pleased to announce its quarter-end operating and financial results for the period ended July 31, 2023.  The Company reported a record second quarter revenue of $630,040 compared to $530,075 for the same period in 2022, a 19% year over year revenue growth. Comprehensive income from operations for the 3-month period was $69,680 compared to $17,280 for the same period in 2022 due to increased sales.

CEO Andrew Thomas remarked “Skkynet’s Q3 2023 results affirm our upward trajectory, demonstrating the resilience and strength of our company even amidst a challenging economic landscape.  We had a profitable and strong quarter, and further improved on our cash position.”  Thomas continued, “We are being asked more and more for subscription pricing, which is a big positive. Our third quarter achievements underscore our optimistic growth outlook for the entire year of 2023.”

Paul Thomas, President of Skkynet, added, “Our steadfast commitment to establishing strategic industry alliances, such as our recent collaboration with Incentro S.A., continues to be a focal point of our strategy. We are actively targeting high-growth industrial sectors and specific regions that align with our growth objectives.”  Thomas further noted, “The rapidly evolving regulatory landscape in Europe, particularly the Directive on Security of Network and Information Systems (NIS 2), is fueling demand for secure access to remote industrial systems.”

Skkynet’s exceptional performance in Q3 2023 underscores its resilience, adaptability, and commitment to growth, positioning the company for a promising future.

The new Cogent DataHub® features, combined with the Skkynet DataHub service on Azure can turn the dream of the real-time enterprise into reality. Expanding a real-time approach from the production line to management and then to the whole enterprise is where manufacturing is headed.  Our solutions are leading the way.  Skkynet’s products and services—DataHub software for in-plant, our cloud service for Microsoft Azure, and ETK for embedded devices—provide secure access to industrial data through open, standard industrial protocols, allowing users to fully integrate OT with IT systems and other applications anywhere in the world. Secure by design, Skkynet’s solution requires no VPN, no open firewall ports, no special programming, and no additional hardware. Secure integration of embedded devices, on-premise systems, and remote locations through seamless, end-to-end connectivity in real time lets users derive maximum value from Industrial IoT and Industry 4.0. For more information, visit: https://skkynet.com/investors/

About Skkynet

Skkynet Cloud Systems, Inc. (OTCQB: SKKY) is a global leader and innovator in real-time information systems. Skkynet’s leading-edge platform includes the award-winning DataHub® software, Skkynet DataHub service on Microsoft Azure, and Embedded Toolkit (ETK) software. The platform enables real-time data connectivity for industrial, embedded, and financial systems, with no programming required. Skkynet’s platform is uniquely positioned for the “Internet of Things” and “Industry 4.0” because unlike the traditional approach for networked systems, Skkynet’s architecture is secure by design.

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.

Skkynet Achieves Record Sales Growth YoY

Mississauga, Ontario, June 14, 2023Skkynet Cloud Systems, Inc. (“Skkynet” or “the Company”) (OTCQB: SKKY) is pleased to announce its quarter-end operating and financial results for the period ended April 30, 2023.  The Company reported a record second quarter revenue of $625,464 compared to $540,093 for the same period in 2022, a 16% year over year revenue growth. Comprehensive loss from operations for the 3-month period was $90,740 compared to $19,475 for the same period in 2022 due to increased headcount for expanding operations and capabilities, including development of new DataHub version 11, due for beta release in Q3.  Development of applications to leverage AI within the DataHub product stack is also underway.

“Skkynet’s Q2 2023 sales continued the Company’s ongoing upward trend.  We had a very successful quarter despite a challenging economic environment, continuing our strong cash position,” stated Andrew Thomas, CEO.  “Demand for secure access to remote industrial systems is strong and continues to grow.  Our Q2 results are indicative of our bullish growth outlook for 2023.”

“We continue to focus on building new industry partnerships, such our recent partnering with HongKe Technology Co., Ltd., and targeting high-growth industrial sectors and regions,” said Paul Thomas, President of Skkynet. “With the new regulatory requirements in Europe, the Directive on Security of Network and Information Systems (NIS 2), we are seeing a rapid shift in the marketplace.”

The new Cogent DataHub® features, combined with the Skkynet DataHub service on Azure can turn the dream of the real-time enterprise into reality. Expanding a real-time approach from the production line to management and then to the whole enterprise is where manufacturing is headed.  Our solutions are leading the way.  Skkynet’s products and services—DataHub software for in-plant, our cloud service for Microsoft Azure, and ETK for embedded devices—provide secure access to industrial data through open, standard industrial protocols, allowing users to fully integrate OT with IT systems and other applications anywhere in the world. Secure by design, Skkynet’s solution requires no VPN, no open firewall ports, no special programming, and no additional hardware. Secure integration of embedded devices, on-premise systems, and remote locations through seamless, end-to-end connectivity in real time lets users derive maximum value from Industrial IoT and Industry 4.0. For more information, visit: https://skkynet.com/investors/

About Skkynet

Skkynet Cloud Systems, Inc. (OTCQB: SKKY) is a global leader and innovator in real-time information systems. Skkynet’s leading-edge platform includes the award-winning DataHub® software, Skkynet DataHub service on Microsoft Azure, and Embedded Toolkit (ETK) software. The platform enables real-time data connectivity for industrial, embedded, and financial systems, with no programming required. Skkynet’s platform is uniquely positioned for the “Internet of Things” and “Industry 4.0” because unlike the traditional approach for networked systems, Skkynet’s architecture is secure by design.

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.

Skkynet Expands Market Opportunities in Asia

Mississauga, Ontario, June 6, 2023Skkynet Cloud Systems, Inc. (“Skkynet” or “the Company”) (OTCQB: SKKY) is pleased to announce HongKe Technology Co., Ltd. as a new distributor partner to expand its services in mainland China, Hong Kong, Macau, Taiwan, and South Korea.

“Skkynet continues to grow with strategic partnerships in the industrial automation space,” stated Paul Thomas, President, Skkynet Cloud Solutions, Inc.  “Demand for secure access to remote industrial systems is strong and continues to grow.  We see significant growth opportunities in Asia.

“HongKe Technology Co., Ltd. provides high level technical services to over 4,300 companies in 40 industries. With an extensive engineering and sales team, they are an ideal distribution partner in Asia.”

The new Cogent DataHub® features, combined with the Skkynet DataHub service on Azure can turn the dream of the real-time enterprise into reality. Expanding a real-time approach from the production line to management and then to the whole enterprise is where manufacturing is headed.  Our solutions are leading the way.  Skkynet’s products and services—DataHub software for in-plant, our cloud service for Microsoft Azure, and ETK for embedded devices—provide secure access to industrial data through open, standard industrial protocols, allowing users to fully integrate OT with IT systems and other applications anywhere in the world. Secure by design, Skkynet’s solution requires no VPN, no open firewall ports, no special programming, and no additional hardware. Secure integration of embedded devices, on-premise systems, and remote locations through seamless, end-to-end connectivity in real time lets users derive maximum value from Industrial IoT and Industry 4.0. For more information, visit: https://skkynet.com/investors/

About Skkynet

Skkynet Cloud Systems, Inc. (OTCQB: SKKY) is a global leader and innovator in real-time information systems. Skkynet’s leading-edge platform includes the award-winning DataHub® software, Skkynet DataHub service on Microsoft Azure, and Embedded Toolkit (ETK) software. The platform enables real-time data connectivity for industrial, embedded, and financial systems, with no programming required. Skkynet’s platform is uniquely positioned for the “Internet of Things” and “Industry 4.0” because unlike the traditional approach for networked systems, Skkynet’s architecture is secure by design.

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.

Skkynet Achieves Record Sales Growth and Profitability for Fiscal Year 2022

Mississauga, Ontario, January 31, 2023Skkynet Cloud Systems, Inc. (“Skkynet” or “the Company”) (OTCQB: SKKY) is pleased to announce its year-end operating and financial results for the period ended October 31, 2022.  The Company reported record annual revenue of $2,156,880 compared to $1,830,459 for the same period in 2021, a 17.8% year over year revenue growth. A strong cash position is reinforced by a profitable year, with net income of $32,758.

“Skkynet’s 2022 sales continued the Company’s upward trend.  We had a very successful year, despite a challenging environment and we continue to maintain a strong cash position to fuel growth in 2023 and beyond,” stated Andrew Thomas, CEO.  “Demand for secure access to remote industrial systems is strong and continues to grow.  We see a continued rebound in the industry, and therefore remain confident in our bullish outlook for growth this year, and maintaining our strong financial position.”

Highlights of 2022:

  • Launched an enhanced DataHub®
  • Launched Skkynet DataHub service on Microsoft Azure.
  • Expanded marketing team.
  • Significantly enhanced our core product for MQTT (a network protocol designed for machine-to-machine messaging), providing unique capabilities in the industry (patent pending).
  • Embarked on larger-scale projects, which we expect to come to light in 2023.
  • Further strengthened intellectual property portfolio; in addition to eight issued U.S. patents across three technologies, a patent application for a fourth technology covering secure remote access to historical data was recently allowed in the U.S. and new patent applications were filed for a fifth technology for MQTT connectivity.

“2022 was a year of affirmation for Skkynet,” said Paul Thomas, President of Skkynet.  “Response to the technology enhancements introduced in 2022 has been overwhelmingly positive. Long-time customers are upgrading and expanding their systems, while fresh prospects from new companies and sectors are discovering, downloading, testing, and implementing the software at an unprecedented rate.”

The new DataHub® features, combined with the Skkynet DataHub service on Azure can turn the dream of the real-time enterprise into reality. Expanding a real-time approach from the production line to management and then to the whole enterprise is where manufacturing is headed.  Our solutions are leading the way.  Skkynet’s products and services—DataHub software for in-plant, Skkynet DataHub service for Microsoft Azure, SkkyHub cloud service, and ETK for embedded devices—provide secure access to industrial data through open, standard industrial protocols, allowing users to fully integrate OT with IT systems and other applications anywhere in the world. Secure by design, Skkynet’s solution requires no VPN, no open firewall ports, no special programming, and no additional hardware. Secure integration of embedded devices, on-premise systems, and remote locations through seamless, end-to-end connectivity in real time lets users derive maximum value from Industrial IoT and Industry 4.0. For more information, visit: https://skkynet.com/investors/

About Skkynet

Skkynet Cloud Systems, Inc. (OTCQB: SKKY) is a global leader and innovator in real-time information systems. Skkynet’s leading-edge platform includes the award-winning SkkyHub service, DataHub® middleware, Skkynet DataHub service on Microsoft Azure, and Embedded Toolkit (ETK) software. The platform enables real-time data connectivity for industrial, embedded, and financial systems, with no programming required. Skkynet’s platform is uniquely positioned for the “Internet of Things” and “Industry 4.0” because unlike the traditional approach for networked systems, Skkynet’s architecture is secure by design.

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.

Adding Security and Flexibility to MQTT

The Control System Integrators Association (CSIA) recently published a case study titled Adding Security and Flexibility to MQTT in which an implementation of MQTT was made more secure, and at the same time more flexible, using Skkynet’s DataHub technology.

In a large wood processing plant in North America, managers had planned a data collection and integration system to cut production costs, improve output and enhance network security. However, their chosen protocol, MQTT, did not provide sufficient security and flexibility. The project depended on connecting multiple MQTT inputs to a single MQTT broker in the cloud, while also allowing plant personnel to consolidate, log, and analyze the data along the way. And they had to keep the production system secure behind a DMZ.

No conventional MQTT broker could do all that. Bit they found that DataHub software, with its MQTT Smart Broker, logging, tunnelling, and other features was well suited to the task.