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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 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.
Siyata Mobile Inc. has received approval from Telstra, Australia's leading cellular carrier, for its UV350 vehicle fleet communication device. This device is the world's first 4G/LTE, all-in-one system that facilitates cellular voice calls, Push-to-Talk over Cellular (PoC), and data applications, aimed at enhancing communications for professional drivers and first responders. The approval supports Siyata's goal to expand its presence in the PoC market. The company plans to collaborate further with Telstra on additional device approvals.
Siyata Mobile will release its second quarter 2021 financial results on October 14, 2021, after market close. A conference call is scheduled for October 15, 2021, at 8:30 a.m. ET to discuss these results and corporate developments. The company specializes in Push-to-Talk over Cellular devices and cellular signal booster systems, aiming to enhance communication and safety for first responders and enterprise users. The results and the call are anticipated by investors, with potential implications for stock performance under the ticker symbols SYTA and SYTAW.
Siyata Mobile Inc. (NASDAQ:SYTA, SYTAW) has partnered with Esper to enhance its SD7 handsets, designed for mission-critical Push-to-Talk (MCPTT) applications. This collaboration will integrate Esper's Android Enterprise Mobility Management (EMM) software into the SD7, facilitating streamlined device onboarding, remote updates, and customization. Expected to launch in North America in fall 2021, the SD7 aims to serve enterprise and public safety sectors, providing rugged, reliable communication devices, ultimately improving operational efficiency.
Siyata Mobile Inc. (NASDAQ: SYTA, SYTAW) will exhibit its communication products, including the SD7 and UV350, at the International Wireless Communication Expo from September 27-30, 2021 in Las Vegas.
The SD7 serves over two million first responders in the U.S., enhancing emergency communication. The UV350 is a dedicated in-vehicle smartphone, and Siyata's cellular boosters improve signal quality for various users. The event gathers over 7,000 industry professionals, marking a significant opportunity for Siyata to showcase its leadership in the Push-to-Talk over Cellular market.
Siyata Mobile (NASDAQ:SYTA, SYTAW) has secured a $400,000 purchase order for its UR7 rugged smartphones and CP250 tablet-style communication devices from a Middle Eastern distributor. These devices aim to modernize communication for taxis and delivery companies by replacing outdated land mobile radios with advanced Push-to-Talk over Cellular solutions. The UR7 features a clamshell design with dual speakers and dedicated buttons, while the CP250 provides multiple functionalities including navigation and DVR capabilities. This order reflects growing international demand in the transportation sector.
Siyata Mobile Inc. (NASDAQ:SYTA, SYTAW) has announced a strategic reseller agreement with Silk Worldwide Inc., enabling Silk to distribute Siyata's Uniden cellular signal boosters through its platforms, including SignalBoosters.com, Amazon, and Walmart. This partnership aims to enhance Siyata's market penetration in the cellular signal booster sector, addressing the widespread issue of weak cellular signals affecting millions in North America. The sales are expected to commence this quarter, leveraging Silk's extensive customer base.
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