Siyata Mobile, Inc. - SYTA STOCK NEWS

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.

Siyata Mobile Inc. announced that its SD7+ push-to-talk device will integrate Visual Labs' body camera software, combining communication and body camera functions. This innovation targets first responders and provides advantages over traditional systems by eliminating the need for two separate devices. The SD7+ operates on a 4G LTE network, enabling remote video streaming and secure storage. The body-worn camera market is projected to grow from $444 million in 2018 to $1.5 billion by 2025, indicating strong potential for this new offering. Both companies aim to leverage existing carrier relationships for rapid deployment.

Siyata Mobile Inc. is set to present at the ThinkEquity investor conference on October 26, 2022, at 12:30 p.m. ET in New York. The company, listed on NASDAQ:SYTA and NASDAQ:SYTAW, specializes in Push-to-Talk over Cellular (PoC) devices and cellular boosters. Attendees can schedule one-on-one meetings with the VP of Corporate Development, Daniel Kim. The conference highlights over 70 small and micro-cap companies, facilitating investor engagement.

Siyata Mobile Inc. has successfully closed a $4.0 million registered direct offering. The company sold approximately 15,810,000 common shares and issued pre-funded warrants, with an effective purchase price of $0.23 per share. In addition, the concurrent private placement involved warrants for 17,400,000 common shares, expiring after five years. The net proceeds will be allocated for general corporate and working capital purposes. Maxim Group LLC acted as the sole placement agent for this offering.

Siyata Mobile Inc. (Nasdaq:SYTA/SYTAW) announced a securities purchase agreement with institutional investors to raise approximately $4.0 million through a registered direct offering. The company plans to sell 15,810,000 common shares and 1,590,000 pre-funded warrants at an effective price of $0.23 per share. This offering will include warrants for an additional 17,400,000 common shares, set to expire in five years. Proceeds will be allocated for general corporate expenses and working capital, with the closing anticipated by October 12, 2022.

Siyata Mobile Inc. (NASDAQ:SYTA, SYTAW) has secured a significant purchase order from a U.S. federal government contractor to supply Uniden® cellular booster kits to the U.S. Navy. This order is a major milestone as it marks the company's first foray into military sales. The Uniden® U70P cellular booster kits will enhance cellular coverage in naval buildings with poor reception, supporting up to 100 devices across 20,000 square feet. CEO Marc Seelenfreund highlighted the achievement as a stepping stone for future military and government opportunities.

Siyata Mobile announces the integration of its SD7 device with CrisisGo's Panic App, enhancing instant communication between teachers and first responders in U.S. schools. This integration aims to improve safety during crises, allowing teachers to alert police and emergency services with a single button press. With approximately 3.8 million teachers and 100,000 public schools in the U.S., this solution presents significant market potential. The partnership is expected to help schools comply with Alyssa's Law, improving emergency response protocols.