Skkynet Achieves 268% Subscription Growth in Fiscal 2025 While Launching CA$2.6 Million AI Initiative

Skkynet Cloud Systems, Inc. announced financial results for the fiscal year ended October 31, 2025, highlighting a dramatic 268% year-over-year increase in subscription revenue. This growth validates the company's strategic shift toward a recurring revenue model, even as total annual revenue remained stable at $2.55 million during this transition period. The company reported net income of $35,351, maintaining profitability while investing in team expansion and product development, with working capital increasing to $1.0 million to support upcoming growth initiatives.

CEO Gary Tillery emphasized the significance of the subscription revenue surge, stating it confirms customer preference for the flexibility and scalability of SaaS and subscription models. The company has successfully laid the foundation for high-quality, recurring revenue growth while maintaining profitability and strengthening its cash position. Tillery noted that Skkynet continues to offer perpetual licenses for customers who prefer that model, respecting their decision during this industry transition.

Beyond financial performance, Skkynet achieved significant operational milestones designed to accelerate its entry into Industrial AI and Industry 4.0 markets. The company significantly bolstered its executive and advisory capabilities, appointing Gary Tillery as Chief Executive Officer, Xavier Mesrobian as Chairman of the Board, and welcoming Lee Tedstone as a new Director. The advisory board expanded with the addition of Aarif Nakhooda and Shaunna Balady, bringing decades of experience in retail, industrial automation, and M&A to the company's strategic planning.

Founder and CTO Andrew Thomas expressed excitement about how this expanded management team positions the company for the future, allowing founders to focus on core expertise while the executive team drives global expansion. During the fiscal year, Skkynet launched a CA$2.6 million AI product development initiative supported by funding from the Government of Canada. This project focuses on developing next-generation secure data connectivity solutions specifically optimized for Artificial Intelligence applications, positioning Skkynet as a critical enabler for industrial enterprises seeking to securely feed real-time production data into AI and Machine Learning models.

Tillery concluded that the company has crafted a strong and focused leadership team and board to guide execution of the vision of being the default choice for the data backbone for the AI-driven industrial future. The company maintains a funded strategy and roadmap for AI innovation that will be delivered by a team with strong industrial experience and a proven track record. For more information about Skkynet's industrial software solutions, visit https://skkynet.com.