Siyata Mobile Announces New Orders for U.S. Wireless Carriers Valued at More Than $4.5 Million

Rhea-AI Summary

Siyata Mobile Inc. (Nasdaq: SYTA) has announced new orders for its SD7 handsets and accessories valued at over $4.5 million from U.S. wireless carriers. The company expects Q3 2024 to be its best sales quarter in history. CEO Marc Seelenfreund highlighted the growing sales momentum and wider adoption of the SD7 handset through partnerships with leading U.S. carriers and their distributors. This development showcases the effectiveness of the U.S. wireless carrier channel as a distribution point for Siyata's Push-to-Talk over Cellular (PoC) products.

Positive

• New orders for SD7 handsets and accessories valued at over $4.5 million
• Q3 2024 expected to be the best sales quarter in company history
• Increased adoption of SD7 handset through U.S. carrier partnerships
• Effective distribution through U.S. wireless carrier channel

Negative

• None.

Insights

Financial Analyst

Siyata Mobile's announcement about new orders valued at $4.5 million is significant, primarily because it reinforces the company’s strong operational performance and robust market demand for its SD7 handsets. This surge in orders is expected to make Q3 2024 the best sales quarter in the company's history. For investors, this is a positive indicator of revenue growth and market expansion.

From a financial perspective, this could translate into increased earnings per share (EPS) and an improvement in overall financial health, which is critical for a small-cap company like Siyata. The announcement also reflects effective channel partnerships with leading U.S. carriers, which is essential for sustainable growth in a competitive market.

Short-term, investors might see a positive impact on the stock price due to heightened investor sentiment and confidence in the company's performance. Long-term, if this trend continues, Siyata could establish a solid market position, leading to consistent revenue streams and potentially higher margins due to economies of scale.

However, it's important to remain cautious about market volatility and potential over-reliance on a few large contracts. Investors should watch future earnings reports and any strategic moves by the company to diversify its client base and product offerings.

Market Research Analyst

The growing adoption of Siyata Mobile's Push-to-Talk over Cellular (PoC) technology is noteworthy for its implications on industry trends and competitive positioning. PoC technology is becoming increasingly relevant in sectors like transportation, logistics and public safety, where instant communication is crucial.

Siyata's success in securing substantial orders from U.S. wireless carriers indicates strong market validation of their SD7 handset, suggesting it meets the critical needs of its target users. This can serve as a leading indicator for broader adoption across other markets and industries.

For investors, this is a positive signal. A product gaining traction in one of the world's largest markets (the U.S.) often sets a precedent for international adoption. Furthermore, Siyata’s ability to leverage its relationships with major carriers could hint at potential future opportunities, such as bundling services or introducing complementary products.

However, competition in the PoC space is fierce. Investors should monitor how Siyata differentiates its offerings, maintains its competitive edge and adapts to technological advancements and emerging competitors. The company's ability to innovate and stay ahead of market demands will be critical for sustained success.

Expects Q3 2024 to represent best sales quarter in company history

VANCOUVER, BC, July 18, 2024 /PRNewswire/ -- Siyata Mobile Inc. (Nasdaq: SYTA) ("Siyata" or the "Company"), a global developer and vendor of Push-to-Talk over Cellular (PoC) handsets and accessories, today announced that it has received new orders for its SD7 handsets and related accessories valued at more than $4.5 million in the aggregate for U.S. wireless carriers.

Marc Seelenfreund, CEO of Siyata, stated, "Our sales momentum continues, and we expect to deliver record sales in the third quarter ending September 30, 2024. The U.S. wireless carrier channel is proving to be a powerful point of distribution. Our SD7 handset is experiencing even wider adoption as a result of our relationships with the leading U.S. carriers and their distributors, and these orders demonstrate that."

About Siyata Mobile

Siyata Mobile Inc. is a B2B global developer and vendor of next-generation Push-To-Talk over Cellular handsets and accessories. Its portfolio of rugged PTT handsets and accessories enables first responders and enterprise workers to instantly communicate over a nationwide cellular network of choice, to increase situational awareness and save lives. Police, fire, and ambulance organizations as well as schools, utilities, security companies, hospitals, waste management companies, resorts and many other organizations use Siyata PTT handsets and accessories today.

In support of our Push-to-Talk handsets and accessories, Siyata also offers enterprise-grade In-Vehicle solutions and Cellular Booster systems enabling our customers to communicate effectively when they are in their vehicles, and even in areas where the cellular signal is weak.

Siyata sells its portfolio through leading North American cellular carriers, and through international cellular carriers and distributors.

Siyata's common shares trade on the Nasdaq under the symbol "SYTA".

Visit www.siyata.net and unidencellular.com to learn more.

Forward Looking Statements
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. Because such statements deal with future events and are based on Siyata's current expectations, they are subject to various risks and uncertainties and actual results, performance, or achievements of Siyata could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading "Risk Factors" in Siyata's filings with the Securities and Exchange Commission ("SEC"), and in any subsequent filings with the SEC. Except as otherwise required by law, Siyata undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites and social media have been provided as a convenience, and the information contained on such websites or social media is not incorporated by reference into this press release.

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SOURCE Siyata Mobile Inc.

FAQ

What is the value of new orders received by Siyata Mobile (SYTA) for U.S. wireless carriers?

Siyata Mobile (SYTA) has received new orders valued at more than $4.5 million for its SD7 handsets and related accessories from U.S. wireless carriers.

When does Siyata Mobile (SYTA) expect to have its best sales quarter in company history?

Siyata Mobile (SYTA) expects Q3 2024, ending September 30, 2024, to represent the best sales quarter in company history.

What products are included in the new orders for Siyata Mobile (SYTA)?

The new orders for Siyata Mobile (SYTA) include SD7 handsets and related accessories for U.S. wireless carriers.

How is Siyata Mobile (SYTA) expanding its market reach for the SD7 handset?

Siyata Mobile (SYTA) is expanding market reach for its SD7 handset through relationships with leading U.S. carriers and their distributors, resulting in wider adoption.