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Skkynet Announces Q1 2021 Financial Results and Reiterates Positive Outlook

Skkynet Announces Q1 2021 Financial Results and Reiterates Positive Outlook

Mississauga, Ontario, March 9, 2021Skkynet 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, 2021.  The Company reported a record first quarter revenue of US$438,066 compared to $419,482 for the same period in 2020, which marks a 4.4% growth in sales, all during industry-wide slow-downs due to COVID-19 disruptions.  Loss from operations for the 3-month period was $10,581 compared to a loss of $12,271 for the same period in 2020.

“Skkynet’s Q1 2021 results maintain our positive revenue growth, notable considering the same quarter in 2020 represented 60% growth over the same period in 2019.  We continue to maintain a robust cash position for further growth in 2021,” stated Andrew Thomas, CEO.  “The outlook for 2021 is excellent; we remain positive and expect to accelerate our growth through the remainder of the year due to regulatory and corporate mandates for secure access to industrial data in response to the world-wide pandemic.”

“We have continued to focus on building new partnerships in industry, especially in the Asia region, which has not seen the same slowdown as North America and Europe,” said Paul Thomas, President of Skkynet.  “With our new channel partner in China, Beijing Hongxin Zhaoyang Technology Co., Ltd., we now have sales and support coverage in the largest Asian market, in addition to Servo Dynamics with coverage in Singapore, Taiwan, Philippines, Malaysia, Indonesia, Thailand, Vietnam, Burma, and Cambodia.  We are seeing very strong interest from within the APAC region.”

Skkynet’s products and services—DataHub for in-plant, SkkyHub for cloud, 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 Industrie 4.0.  For more information, visit: https://skkynet.com/investors/

About Skkynet

Skkynet Cloud Systems, Inc. (OTCQB: SKKY) is a global leader in real-time cloud information systems. The Skkynet Connected Systems platform includes the award-winning SkkyHub™ service, DataHub® middleware, 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, SkkyHub 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 Announces 2020 Financial Results and Provides Corporate Update

Increased sales result in 10.2% revenue growth year-over-year, and strong cash position for future growth.

Mississauga, Ontario, February 10, 2021Skkynet 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, 2020.  The Company reported a record annual revenue total of $1,506,929 compared to $1,367,448 for the same period in 2019, which is a 10.2% growth in sales. Net loss for the annual period ended October 31, 2020 was $311,333 compared to a net loss of $575,854 for the same period in 2019.

“Skkynet’s 2020 sales continue its upward trend, and our annual results mark another positive milestone in our growth trajectory.  We continue to maintain a strong cash position allowing us to invest in further growth in 2021 and beyond,” stated Andrew Thomas, CEO.  “While our Q4 sales slowed due to the global economic climate, we see early signs of a rebound in the industry, and therefore remain confident in our bullish outlook for growth in 2021, all while maintaining our strong financial position”.

Highlights of the past year include:

  • Became a Certified Technology Partner of AVEVA, to provide secure integration and networking for in-plant, enterprise-wide, and Industrial IoT applications.
  • New channel partners: ISDN Software and Servo Dynamics are subsidiaries of ISDN Holdings Ltd and operate in Singapore, Taiwan, Philippines, Malaysia, Indonesia, Thailand, and Vietnam. Samboo System Corp operates in South Korea.
  • New solution provider partners: Ambyint provides AI and deep data analytics solutions for the oil and gas segment. e-Magic’s TwinWorX digital twin service is a scalable, secure and high availability platform that integrates and normalizes all telemetry data into a single platform.
  • New case studies on secure networking on the 1800 kilometer Trans-Anatolian Natural Gas Pipeline (TANAP) project in Turkey, standardizing connections between air separation units and control systems for Air Liquide in the USA, and cloud-based remote monitoring of medical gas usage in over 20 hospitals in and around Osaka, Japan.
  • Further strengthened intellectual property portfolio; in addition to eight (8) issued U.S. patents across three technologies, two new provisional patents filed on a fourth and pivotal technology for secure store-and-forward.

“2020 was a pivotal year for Skkynet.  The COVID-19 pandemic is having a dramatic impact on the automation industry: a change in priorities from increased efficiencies and lower costs to expanding remote capabilities in a secure manner,” said Paul Thomas, President of Skkynet.  “This change in focus at the C-level is a boon to Skkynet: remote capabilities have become a necessity, not a nice-to-have.  Delivering secure, remote connectivity of industrial data is what we do best.  The paradigm shift is so broad that it was highlighted in a recent Economist article entitled ‘Bearing fruit: After years of dithering companies are embracing automation.’”  A summary of the Economist article is available at the Skkynet blog at https://skkynet.com/embracing-automation-tough-times/

Skkynet’s products and services—DataHub for in-plant, SkkyHub for cloud, 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 Industrie 4.0.  For more information, visit: https://skkynet.com/investors/

About Skkynet

Skkynet Cloud Systems, Inc. (OTCQB: SKKY) is a global leader in real-time cloud information systems. The Skkynet Connected Systems platform includes the award-winning SkkyHub™ service, DataHub® middleware, 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, SkkyHub 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 Announces Q3 2020 Financial Results and New Partners

Increased sales result in 19% revenue growth year-to-date, and strong cash position for future growth.

Mississauga, Ontario, September 15, 2020Skkynet 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, 2020.  The Company reported a record nine month revenue total of $1,155,443 compared to $973,400 for the same period in 2019, which is a 19% growth in sales. Net income for the nine month period ended July 31, 2020 was $7,390 compared to a net loss of $477,924 for the same period in 2019.

“Skkynet’s Q3 2020 sales were marginally lower than last year, however our year-to-date results mark another positive milestone in our growth trajectory, and our continued robust cash position allows us to invest in further growth in 2020 and beyond,” stated Andrew Thomas, CEO.  “While a slower Summer season comes as no surprise to us, considering the current economic climate, we are still bullish in our outlook and expect to continue our growth through new partnerships and to maintain a strong financial position”.

“A large part of our growth story is our unrelenting focus on building new partnerships in industry,” said Paul Thomas, President of Skkynet.  “With our new channel partners ISDN Software, Servo Dynamics and Samboo, we now have sales and support coverage throughout all of South-East Asia, which is a strong growth region for us right now.”  ISDN Software and Servo Dynamics are subsidiaries of ISDN Holdings Ltd and operate in Singapore, Taiwan, Philippines, Malaysia, Indonesia, Thailand, and Vietnam.  Samboo System Corp operates in South Korea.

“Additionally, we are partnering with more industry-specific solution providers based on Software-as-a-Service through Microsoft Azure.  Examples are Ambyint’s operation optimization solutions and e-Magic’s TwinWorX digital twin platform.  We continue to see growth in demand for secure remote access to industrial data, and we are well-positioned to service this demand through partnerships such as these,” stated Paul Thomas.  Ambyint provides AI and deep data analytics solutions for the oil and gas segment.  e-Magic’s TwinWorX digital twin service is a scalable, secure and high availability platform that integrates and normalizes all telemetry data into a single platform.

Skkynet’s products and services—DataHub for in-plant, SkkyHub for cloud, 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 Industrie 4.0.  For more information, visit: https://skkynet.com/investors/

About Skkynet

Skkynet Cloud Systems, Inc. (OTCQB: SKKY) is a global leader in real-time cloud information systems. The Skkynet Connected Systems platform includes the award-winning SkkyHub™ service, DataHub® middleware, 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, SkkyHub 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 Announces Q2 2020 Financial Results and Reiterates Positive Outlook

Increased sales result in 32% revenue growth, improved earnings, and strong cash position for future growth.

Mississauga, Ontario, June 15, 2020Skkynet 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, 2020.  The Company reported a record first and second quarter revenue total of $838,525 compared to $635,813 for the same period in 2019, which is a 31.7% growth in sales. Net income for the three and six month periods ended April 30, 2020 was $76,655 and $68,174 compared to a net loss of $278,872 and $433,184 for the same periods in 2019.

“Skkynet’s Q2 2020 results marks another milestone in our growth trajectory, and our continued robust cash position allows us to further accelerate our growth in 2020,” stated Andrew Thomas, CEO.  “While the outlook for 2020 remains affected by recent economic events, we reiterate our positive outlook and expect to continue our growth through expanded distribution and to maintain a strong financial position”.

“As a result of more businesses considering new remote capabilities, our product offering and messaging is gaining momentum.  We continue to see accelerating growth in demand for secure remote access to industrial data, and we are entering a new stage of market adoption in the areas of IIoT, Industrie 4.0, and digital transformation,” said Paul Thomas, President of Skkynet.

Skkynet’s products and services—DataHub for in-plant, SkkyHub for cloud, 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 Industrie 4.0.  For more information, visit: https://skkynet.com/investors/

About Skkynet

Skkynet Cloud Systems, Inc. (OTCQB: SKKY) is a global leader in real-time cloud information systems. The Skkynet Connected Systems platform includes the award-winning SkkyHub™ service, DataHub® middleware, 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, SkkyHub 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 Announces Q1 2020 Financial Results and Provides Corporate Update

Increased sales result in 60% revenue growth, improved earnings, and strong cash position for future growth.

Mississauga, Ontario, March 23, 2020Skkynet 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, 2020.  The Company reported a record first quarter revenue of $419,482 compared to $262,989 for the same period in 2019, which is a 59.5% growth in sales. Comprehensive loss for the 3-month period was $17,035 compared to a loss of $165,963 for the same period in 2019.

“Skkynet’s Q1 2020 results marks a milestone in our growth trajectory, and our robust cash position allows us to further accelerate our growth in 2020,” stated Andrew Thomas, CEO.  “While the outlook for 2020 is strongly muted by recent economic events, we remain positive and expect to continue our growth through expanded distribution, and to maintain a strong financial position”.

Highlights of the past year include:

  • Skkynet became a Siemens partner.  On September 16, 2019, Skkynet announced a collaboration with Siemens Mobility to deliver on Secure IIoT; a hardware/software combination to provide secure access to industrial data, vendor-neutral connectivity, and support for main industrial protocols.
  • Significant increase in activity in Asia as a result of our partnership with AVEVA (Schneider Electric), and our Master Distributor in Japan, BellChild, Ltd.
  • Continued partner growth, customer acquisition and sales in a number geographies including India, Europe, and the Middle East.
  • New case studies on large-scale infrastructure implementations including the TANAP pipeline in Turkey, Air Liquide rollout in the USA, and Siemens in Argentina.
  • Skkynet strengthened its intellectual property portfolio substantially; a total of eight (8) issued U.S. patents across three separate technologies, with more filings underway.

“We see accelerating growth in demand for secure remote access to industrial data, and with the validation of our Siemens collaboration, we are entering a new stage of market adoption in the areas of IIoT, Industrie 4.0, and digital transformation,” said Paul Thomas, President of Skkynet.

Skkynet’s products and services—DataHub for in-plant, SkkyHub for cloud, 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 Industrie 4.0.  For more information, visit: https://skkynet.com/investors/

About Skkynet

Skkynet Cloud Systems, Inc. (OTCQB: SKKY) is a global leader in real-time cloud information systems. The Skkynet Connected Systems platform includes the award-winning SkkyHub™ service, DataHub® middleware, 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, SkkyHub is secure-by-design.  For more information, see https://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.

Skkynet Announces Year-End 2018 Financial Results and Corporate Update

Increased sales and cash flow result in strong cash position for future growth.

Mississauga, Ontario, February 14, 2019 – Skkynet Cloud Systems, Inc. (“Skkynet” or “the Company”) (OTCQB: SKKY) is pleased to announce its and year-end operating and financial results for the period ended October 31, 2018.  The Company reported record sales of $1,466,142 for the year, an increase of $130,096.  Although the Company recorded a net loss of $490,843 due to non-cash items, cash flows from operations increased to $122,534 from $31,697 in the previous year, resulting in a strong cash position for future growth.

“Skkynet’s 2018 results positions us to accelerate growth in the coming year,” stated Andrew Thomas, CEO.  “We look to 2019 for continuing our growth through expanded distribution and a continued strong financial position”.

Highlights of the past fiscal year include:

  • Skkynet became an AVEVA technology partner. On March 1, 2018, AVEVA Group plc combined with Schneider Electric’s industrial software business to create one of the world’s largest end-to-end industrial software portfolio and partner network.
  • Skkynet opened the OPC UA Lab in Yokohama, Japan. With the support of partners BellChild Co. Ltd. and Puerto Co., Skkynet’s OPC UA Lab provides testing, development, and advisory services for users and vendors of OPC UA-enabled hardware and software.  Additionally, Skkynet Japan website was released: https://skkynet.jp.
  • Skkynet’s software became available directly from the AVEVA Digital Exchange, which is the first industrial marketplace to unite end users with solution providers to drive digital transformation across the complete operations and asset management value chain.
  • Throughout the year Skkynet developed new capabilities to the DataHub software, including MQTT for broader Industrial IoT connectivity. Over 100 partners participated in the beta testing program prior to the final release of DataHub Version 9 this year.

“With the AVEVA partnership in place, increased activity in Japan, and the release of DataHub Version 9, we are poised to make a significant impact on the industrial data communications market in 2019, particularly in the areas of IIoT, Industrie 4.0, and digital transformation,” said Paul Thomas, President of Skkynet.

Skkynet’s products and services—DataHub for in-plant, SkkyHub for cloud, 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, they require 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 Industrie 4.0.  For more information, see https://skkynet.com.

For full financial results, please visit: https://skkynet.com/investors/financials/

About Skkynet

Skkynet Cloud Systems, Inc. (OTCQB: SKKY) is a global leader in real-time cloud information systems. The Skkynet Connected Systems platform includes the award-winning SkkyHub™ service, DataHub® middleware, 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, SkkyHub is secure-by-design. For more information, see https://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.