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Skkynet Continues Strong Growth with Q2 2022 Financial Results

Positive outlook for future growth with 21% YoY revenue increase.

Mississauga, Ontario, June 15, 2022Skkynet 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, 2022.  The Company reported a record second quarter revenue of US$540,093 compared to $447,972 for the same period in 2021; a 20.6% growth in sales.  Comprehensive loss from operations for the 3-month period was $19,475 compared to a gain of $26,373 for the same period in 2021.

“Skkynet’s Q2 2022 results maintain our continuous revenue growth over the last 24 months.  We’re seeing strong momentum in the market as projects delayed by the pandemic are now coming back on-line,” stated Andrew Thomas, CEO.  “There is also a significant demand for cybersecurity solutions, as well as the need for OT/IT data collaboration.”

“We continue to focus on building new industry partnerships and targeting high-growth industrial sectors,” said Paul Thomas, President of Skkynet.  “With travel and in-person conferences resuming, we are seeing a significant increase in activity.”

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.

Skkynet Continues Growth with Q1 2022 Financial Results

8.9% YoY revenue growth maintains positive outlook for future growth.

Mississauga, Ontario, March 16, 2022Skkynet 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, 2022.  The Company reported a record first quarter revenue of US$477,179 compared to $438,066 for the same period in 2021, which marks an 8.9% growth in sales.  Comprehensive loss from operations for the 3-month period was $90,713 compared to a loss of $33,076 for the same period in 2021.

“Skkynet’s Q1 2022 results indicate positive momentum and consistent revenue growth.  We continue to maintain a robust cash position for further growth this year,” stated Andrew Thomas, CEO.  “The outlook for 2022 is excellent; we remain positive and expect to accelerate our growth throughout the year.  We do not believe that the current situation in Eastern Europe will have a significant impact on sales.”

“We have continued our focus on building new industry partnerships, particularly in under-represented regions,” said Paul Thomas, President of Skkynet.  “With our new channel partners in Germany and Brazil, we now have additional sales and support opportunities in two large markets.”

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.

Skkynet Announces 2021 Financial Results and Provides Corporate Update

Increased sales resulted in 21% revenue growth year-over-year.

Mississauga, Ontario, January 31, 2022Skkynet 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, 2021.  The Company reported a record annual revenue total of $1,830,459 compared to $1,506,929 for the same period in 2020, a 21.5% growth in revenue. A strong cash position is reinforced by an increase in profitability.

“Skkynet’s 2021 sales accelerated its upward trend, doubling our growth rate compared to 2020.  Moreover, we continue to maintain a strong cash position allowing us to further fuel growth in 2022 and beyond.  Demand is strong and growing for secure access to remote industrial systems,” stated Andrew Thomas, CEO.  “We see clear signs of a continued rebound in the industry, and therefore remain confident in our bullish outlook for growth in 2022, all while maintaining our strong financial position.”

Highlights of the past year include:

“2021 was milestone year for Skkynet technical innovations,” said Paul Thomas, President of Skkynet.  “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.

Skkynet Announces Strong Q3 2021 Financial Results

Increased sales result in 57% revenue growth for another record-setting quarter

Mississauga, Ontario, September 14, 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 July 31, 2021.  The Company reported a record third quarter revenue of $497,375 compared to $316,918 for the same period in 2020, which marks a 57% growth in sales.  Net loss from operations for the 3-month period was $15,490 compared to a net loss of $60,784 for the same period in 2020.  The Company reported a record nine month revenue total of $1,383,414 compared to $1,155,443 for the same period in 2020, which is a 20% growth in sales.

“Skkynet’s Q3 2021 results are in line with our expectations, and positive revenue growth trend continues.  We also continue to maintain a robust cash position for further growth in the foreseeable future,” stated Andrew Thomas, CEO.  “We maintain our positive outlook for the remainder of 2021, and we expect an excellent 2022 in line with previous guidance; we expect to accelerate our growth through the remainder of the year due to increased demand for remote access to data in the industrial sector in response to the pandemic, and for the rest of the decade to meet regulatory and corporate mandates for secure access to critical infrastructure.”

“Skkynet’s new product portfolio is attracting a new class of customer: large enterprises with numerous remote locations requiring data connectivity,” said Paul Thomas, President of Skkynet.  “We deliver secure, remote data with novel store-and-forward capabilities that are being very well-received in industry.  We are now seeing steadily increasing demand for such data access capabilities.”

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 Strong Q2 2021 Financial Results

Increased sales result in 6.9% revenue growth for record-setting quarter

Mississauga, Ontario, June 16, 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 April 30, 2021.  The Company reported a record second quarter revenue of US$447,972 compared to $419,043 for the same period in 2020, which marks a 6.9% growth in sales.  Income from operations for the 3-month period was $18,137 compared to $5,866 for the same period in 2020.

“As we expected, Skkynet’s Q2 2021 results continues our positive revenue growth trend.  We maintain a robust cash position for further growth in 2021,” stated Andrew Thomas, CEO.  “The outlook for 2021 continues to be 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 pandemic.”

“With new, patent-pending innovations, we are excited for Skkynet’s new product portfolio,” said Paul Thomas, President of Skkynet.  “Leveraging our expertise in secure, remote data, we are introducing new store-and-forward capabilities that the industry has not yet seen.  Skkynet now offers its customers unparalleled secured access to real time and historical data.  We expect demand for such data access capabilities to only increase in the future.”

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 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.