Welcome to our dedicated page for Siyata Mobile news (Ticker: SYTA), a resource for investors and traders seeking the latest updates and insights on Siyata Mobile stock.
Siyata Mobile, Inc. (SYTA) is a B2B global developer and vendor known for its innovation in Push-to-Talk over Cellular (PoC) handsets and accessories. Established in 2010, the company made its mark with the world's first 3G fixed truck phone. Building on this success, Siyata introduced the Voyager connected vehicle smartphone in 2013 and the portable Bagfone, extending connectivity to remote areas.
The company specializes in vehicle-mounted, cellular-based communications platforms over advanced 3G mobile networks and cellular booster systems. Siyata serves a range of rugged business-to-business environments, including first responders, enterprise customers, construction workers, security guards, government agencies, and more. With operations in the USA, Canada, EMEA, and Australia, Siyata derives the majority of its revenue from the USA.
Siyata's flagship products include the SD7 handset and related accessories, which are now stocked by three of the four largest U.S. wireless carriers. The SD7 is the only direct radio replacement device offered by wireless carriers, making it a popular choice across various verticals such as schools, first responders, security, and construction. Recent orders for the SD7 and its accessories are valued at over $2.2 million.
The company's innovative product line is complemented by enterprise-grade in-vehicle solutions and cellular booster systems, enhancing communication in areas with weak cellular signals. Siyata's solutions are marketed through leading North American cellular carriers and international distributors.
Siyata has recently expanded its product portfolio with the introduction of the SD7 Wired Palm Mic Pro with AI Noise Cancellation. This device features advanced AI technology to isolate the human voice while suppressing background noise, making it ideal for loud environments.
Financially, Siyata reported a 30% revenue growth, a higher gross margin, and improved Adjusted EBITDA for Q1 2024. The company's liquidity remains strong, bolstered by a recent public offering that raised approximately $4 million. Siyata's continuous innovation and strategic partnerships position it as a global leader in the $10 billion PoC market.
Siyata shares trade on Nasdaq under the symbol "SYTA", and its warrants under the symbol "SYTAW". For more information, visit www.siyata.net and unidencellular.com.
Siyata Mobile (NASDAQ:SYTA, SYTAW) announced a $750,000 order for its next-generation MCPTT solution from an independent emergency management service. This order includes the SD7 devices and accessories designed for robust communication in challenging conditions. The SD7 enables reliable push-to-talk communications for first responders via 4G LTE networks, eliminating the need for costly infrastructure investments. This order showcases Siyata's expanding footprint in the emergency response sector and solidifies its position in providing essential communication tools for critical situations.
Siyata Mobile Inc. has successfully entered the hospitality industry with a significant order for its next-generation MCPTT solution, which includes the SD7 device, from a multi-billion-dollar integrated resort and residential development in The Bahamas. This order follows a successful pilot project, marking a key win for Siyata in this new vertical. The SD7 device enhances communication among various personnel within the resort, ensuring effective collaboration and operational efficiency. Siyata's solutions allow for seamless communications without the need for additional infrastructure, utilizing existing cellular networks across North America and internationally.
Siyata Mobile Inc. (Nasdaq: SYTA/SYTAW) has secured follow-on orders totaling approximately $400,000 from a prominent Saudi Arabian cellular carrier, bringing total cumulative orders since 2019 to over $1.7 million. The orders are intended for the deployment of the Uniden UV350, a 4G/LTE communication device designed for emergency response vehicles. This news reflects the strong relationship between Siyata and the customer, highlighting the value of their products in high-risk situations. The UV350 is the only FirstNet Ready device in its category, addressing a growing demand for reliable Push-to-Talk over Cellular solutions.
Siyata Mobile Inc. (NASDAQ:SYTA, SYTAW) has announced the launch of its rugged SD7 device on T-Mobile's IoT data network, marking a significant milestone as all major U.S. carriers now offer the SD7. The company aims to disrupt the $13 billion Land Mobile Radio (LMR) market by providing a superior alternative. The SD7 is designed for first responders and enterprise customers, featuring 4G LTE connectivity, an IP68 rating for durability, and no need for infrastructure investment. This expansion could enhance Siyata's market reach and solidify its competitive position.
Siyata Mobile Inc. (NASDAQ: SYTA, SYTAW) has partnered with RadioTrader, the UK and Ireland's top two-way radio supplier, to distribute its SD7 rugged PoC device and VK7 vehicle kit. This agreement aims to penetrate the multi-billion-dollar Land Mobile Radio industry. RadioTrader, leveraging its 20 years of experience, will provide enhanced connectivity across various sectors such as agriculture, aviation, and retail. The SD7 offers superior audio quality and durability, eliminating the need for traditional radio infrastructure.
Siyata Mobile Inc. (SYTA, SYTAW) announces the launch of its rugged SD7 device by Bell Mobility, set for Q4 2022. This device targets the multi-billion dollar Land Mobile Radio (LMR) market, promising improved functionality and cost efficiency. The SD7 features Push-To-Talk capabilities over 4G LTE, IP68 ratings for durability, and eliminates the need for additional infrastructure. Its certification by major North American carriers bolsters Siyata's presence in Push-to-Talk over Cellular markets.
Siyata Mobile reported a 111% year-over-year revenue increase to approximately $2.6M for Q3 2022, driven by strong sales of the SD7 push-to-talk device, which generated $1.4M in revenue. The adjusted EBITDA loss decreased by 68% year-over-year to about $1.6M, and the company experienced a significant reduction in net loss to $500K from $5.7M year-over-year. Siyata is optimistic about growth as traction in various sectors continues, supported by the successful launch of new products and expansion efforts.
Siyata Mobile Inc. (NASDAQ:SYTA, NASDAQ:SYTAW) will report its third quarter financial results after market close on November 10, 2022. The company will host a conference call on November 11, 2022, at 8 a.m. EST, to discuss its results and engage in a Q&A session. Siyata is a global vendor of Push-to-Talk over Cellular (PoC) devices and cellular signal booster systems, serving first responders and enterprise workers. Their products enhance communication and signal strength in challenging environments.
Siyata Mobile Inc. has announced the hiring of Dan Leech, a telecom sales veteran, to address increasing demand for its SD7 device across various sectors. Leech's extensive experience includes roles at Motorola Solutions and FirstNet. CEO Marc Seelenfreund expressed optimism about the company's growth and market share expansion for the SD7, which has gained traction in industries like public safety and healthcare. The product is certified for use with major North American carriers, and more partnerships are expected in the future.
FAQ
What is the current stock price of Siyata Mobile (SYTA)?
What is the market cap of Siyata Mobile (SYTA)?
What does Siyata Mobile, Inc. specialize in?
Where does Siyata Mobile operate?
What are some of Siyata Mobile's flagship products?
What recent achievements has Siyata Mobile made?
How does Siyata Mobile's SD7 handset stand out?
What innovative features does the SD7 Wired Palm Mic Pro offer?
How has Siyata Mobile performed financially recently?
What partnerships has Siyata Mobile recently formed?
What is Siyata Mobile's ticker symbol?
Where can I find more information about Siyata Mobile?
