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 has entered a distribution agreement with pei tel Communications GmbH to expand the reach of its Siyata UV350 device in Europe. The partnership allows entry into key markets including Germany, Austria, and Switzerland. pei tel specializes in communication solutions for commercial vehicles and offers a broad range of professional communication technology products. This collaboration aims to enhance Siyata's presence in new market verticals and is showcased at the digitalPMRExpo from November 24-26, 2020. CEO Marc Seelenfreund expressed optimism about the partnership.
Siyata Mobile's subsidiary, Signifi Mobile, has announced a partnership with OnTech Smart Services to provide installation services for Uniden cellular signal boosters in the U.S. This collaboration aims to enhance customer experience by offering professional installation, thereby improving cellular connectivity for users working or studying from home. The service will commence this winter, with OnTech's trained technicians available for same-day and next-day appointments across the country. This initiative is expected to significantly benefit customers facing poor cellular signal strength.
Siyata Mobile has announced a partial exercise of the over-allotment option related to its U.S. IPO closed on September 29, 2020. The company issued 120,000 additional common shares and 266,000 additional common share purchase warrants, generating gross proceeds of USD $721,460. Each warrant allows the purchase of one common share at an exercise price of USD $6.85 for five years. Proceeds from the offering will be allocated for sales, marketing, growth capital, and R&D purposes.
Siyata Mobile (Nasdaq: SYTA, SYTAW) has partnered with Fleet Complete for FirstNet to enhance school bus transportation safety in the U.S. This collaboration aims to improve fleet management and communication solutions for school buses through advanced vehicle analytics, GPS tracking, and Enhanced Push-to-Talk capabilities. The FirstNet Ready™ Uniden® UV30 device will integrate with Fleet Complete's mobile apps, providing real-time tracking and reliable communication tools for drivers. With over 500,000 school buses in the U.S., this initiative targets a significant market for Siyata.
Siyata Mobile has appointed Peter Goldstein to its Board of Directors, bringing over 30 years of experience in capital markets, M&A, and strategic planning. Goldstein played a pivotal role in the company's recent $12.6 million IPO and NASDAQ listing. He expressed enthusiasm about supporting Siyata's growth strategies. Additionally, Richard Hoy has resigned from the board, with the company thanking him for his contributions. Siyata specializes in Push-To-Talk over Cellular devices and cellular booster systems for first responders and enterprise workers.
Siyata Mobile is hosting a live investor webinar on October 29, 2020, at 2:00 PM ET. The session will feature an updated investor presentation detailing current operations, industry metrics, and future milestones for its products, including Rugged Handsets, In-Vehicle Devices, and Cellular Boosters. Interested parties can register for the webinar here. The company's presentation is available on its website.
Siyata Mobile has secured a USD$650,000 purchase order to supply its rugged Push-to-Talk (PTT) devices for homeland security in the Middle East. The devices are aimed at enterprise users, enhancing communication and worker safety. CEO Marc Seelenfreund highlighted this order as evidence of the ongoing demand for their rugged PTT portfolio, which combines the functionality of smartphones with robust performance for tough environments.
Siyata’s products enable nationwide communication and are designed for public safety scenarios, showcasing their commitment to improving situational awareness and safety.
Siyata Mobile Inc. (NASDAQ: SYTA, SYTAW) announced the delisting of its common shares from the TSX Venture Exchange (TSXV), effective October 19, 2020, at the company's request. The shares began trading on NASDAQ on September 25, 2020, following a successful U.S. IPO. Current shareholders can continue trading on NASDAQ without impact from the TSXV delisting. CEO Marc Seelenfreund expressed optimism regarding future U.S. growth and the company's strong investor base in Canada. Siyata specializes in Push-To-Talk (PTT) devices and cellular booster systems for first responders and enterprise workers.
Siyata Mobile has appointed LaRue Martz as the new US VP of Sales for its Uniden® cellular signal booster portfolio. Martz brings over 20 years of sales experience in telecommunications, previously working with AT&T, Nextivity, Samsung, and Huawei. The company expects Martz to help expand its cellular booster business in response to the rising demand due to poor network coverage and the shift towards cellular communication. The global cellular signal booster market is forecasted to grow from $8.2 billion in 2017 to $17.6 billion by 2025, indicating significant growth potential.
Siyata Mobile has partnered with Source Inc. to promote its Uniden UV350 in-vehicle communications device through a distribution agreement, targeting Verizon B2B customers. During Q4 2020, Source Inc. will run promotions for the UV350, which features LTE connectivity, Push-to-Talk Over Cellular, and advanced sound quality. This partnership aims to enhance wireless communication for professional drivers. Siyata's UV350 is notable for integrating multiple functions into a single device, optimizing communication for the construction and paving industries, thereby facilitating safe and effective operations.
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