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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 the rollout of its SD7 device through Goosetown Communications, aimed at enhancing communication for first responders and public service personnel. The SD7, a rugged Push-to-Talk over Cellular device, is designed to improve connectivity and functionality compared to traditional land mobile radio systems. Key features include LTE, Wi-Fi, and Bluetooth capabilities, making it suitable for harsh environments. Siyata's CEO expressed confidence in the SD7's value, particularly for the commercial and public safety sectors.
Siyata Mobile Inc. has announced a new distribution agreement with TESSCO Technologies, allowing TESSCO to distribute Siyata’s Uniden cellular signal boosters. Sales are expected to commence in Q1 2022. The partnership will enable TESSCO to co-brand these products with Ventev’s accessories, targeting professional and first responder markets. Siyata aims to enhance its market presence through TESSCO’s extensive distribution network, anticipating a positive revenue impact from this collaboration.
Siyata Mobile Inc. (NASDAQ:SYTA,SYTAW) has completed an underwritten public offering, raising approximately $20 million. The offering included 8,695,652 common shares and accompanying warrants, priced at $2.30 each. A 45-day option for underwriters to purchase additional shares was granted, of which 1,304,347 warrants were partially exercised. The proceeds will be used to repay a portion of senior secured convertible notes and for general corporate purposes, including working capital and growth strategies.
Siyata Mobile Inc. (NASDAQ:SYTA)(NASDAQ:SYTAW) announced a public offering of 8,695,652 common shares at $2.30 each, potentially raising approximately $20 million before expenses. Each share comes with a warrant to purchase an additional common share, which is immediately exercisable. The offering is expected to close around January 11, 2022. Proceeds will primarily repay a senior secured convertible promissory note and support general corporate purposes, including growth strategies and R&D. The underwriters have a 45-day option for an additional 1,304,347 shares.
Siyata Mobile Inc. (NASDAQ:SYTA, SYTAW) has secured a $1.3 million purchase order from police and first responder clients in the EMEA region. This order boosts year-to-date sales for the company's SD7 and VK7 products to over $1.8 million. The SD7 is a ruggedized Push-To-Talk device designed for demanding environments, while the VK7 enhances in-vehicle communication. Siyata anticipates continued growth in adoption due to its innovative product capabilities, aiming to address limitations of traditional land mobile radios.
Siyata Mobile Inc. has announced initial orders for its SD7 ruggedized device, totaling $550,000, from customers in the U.S. and EMEA. The SD7 is designed for first responders and enterprise customers, offering an affordable solution with extensive functionality. Its durability features include an IP68 rating and robust battery life, making it suitable for harsh environments. CEO Marc Seelenfreund anticipates widespread adoption of the SD7, reflecting the company's capability to meet critical technology needs.
Siyata Mobile Inc. (SYTA) has launched the VK7, a patent-pending vehicle kit accessory designed specifically for the SD7 Push-to-Talk (PoC) handset. This innovative solution creates an in-vehicle experience akin to traditional land mobile radios (LMR). The VK7 includes a 20-watt speaker and supports external antennas, enhancing cellular connectivity.
CEO Marc Seelenfreund emphasized the potential of this product for enterprise, first responders, and public safety markets. The SD7 handset's rugged design and advanced features position it well for demanding environments.
Siyata Mobile Inc. has closed a US$6 million funding agreement with The Lind Partners to repay existing convertible notes. This financing involves a US$7.2 million convertible note with a 0% interest rate and a conversion price of US$10.00 per share, along with warrants for 2,142,857 shares at US$4.00 per share. The company will file a registration statement for the shares within 45 days of closing. Siyata Mobile specializes in Push-to-Talk devices and cellular booster systems.
Siyata Mobile Inc. (NASDAQ: SYTA, SYTAW) announced a funding agreement with The Lind Partners for US$6 million to repay existing convertible notes. The investment consists of a US$7.2 million convertible note convertible at US$10.00 per share, maturing in 24 months with 0% interest. Siyata plans to use the proceeds to eliminate debt and achieve profitability. The deal includes warrants for 2,142,857 shares at US$4.00 each, enhancing growth potential in a multi-billion-dollar market for emergency communication solutions.
Siyata Mobile (NASDAQ:SYTA) reported Q2 2021 financial results, showing revenues of $356,979, an 83% decline from $2,130,981 year-over-year, primarily due to a one-time merchandise return. Adjusted EBITDA was ($4,607,747), significantly worse than ($541,721) in Q2 2020. The net loss widened to ($10,862,538) compared to ($627,004) in the prior year. Despite these challenges, booster sales surged 152% in the U.S. industrial market. The company aims for revenue growth and improved gross margins moving forward.
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