Siyata Mobile Secures New $2.5 Million Order

Rhea-AI Summary

Siyata Mobile (Nasdaq: SYTA) has secured a new $2.5 million order from an existing international EMS organization for PTT handsets and Real Time View devices. The order is scheduled for delivery in the first quarter of 2025. This follow-on order demonstrates the effectiveness of Siyata's devices in emergency response operations and highlights the company's ability to maintain strong customer relationships in the first responder sector.

Positive

• Secured significant $2.5 million order from existing customer
• Demonstrates product validation and customer retention
• Expansion of business with established EMS organization

Negative

• Delivery timeline extends to Q1 2025, indicating delayed revenue recognition

Insights

Financial Analyst

This $2.5 million order represents a significant win for Siyata Mobile, especially considering the company's current market cap of just $3.66 million. The order value is roughly 68% of their entire market capitalization, making it a substantial revenue event. Key positives include:

• Repeat order from existing customer demonstrating product validation
• Clear revenue visibility for Q1 2025
• Strategic presence in critical first responder market

However, investors should note the significant gap between order announcement and delivery timeline, suggesting potential working capital needs to fulfill the order. The stock's micro-cap status also warrants careful consideration of liquidity risks and execution capabilities.

International EMS organization to rollout additional devices

VANCOUVER, BC, Nov. 4, 2024 /PRNewswire/ -- Siyata Mobile Inc. (Nasdaq: SYTA) ("Siyata" or the "Company"), a global vendor of Push-to-Talk over Cellular ("PoC") devices and cellular signal booster systems, today announced it has received an order valued at $2.5 million for its PTT handsets as well its Real Time View devices from an existing customer, an international EMS organization.

The Company expects to deliver the order in the first quarter of 2025.

Marc Seelenfreund, CEO of Siyata, commented, "Growing our business with existing customers is a testament to the positive impact our devices are having on operations as well as the deep relationships that we cultivate with our customers. Time and again our devices are being proven as rugged, reliable and effective for enhancing communications when deployed by lifesaving EMS customers, thereby leading to follow on orders. We are pleased to expand our presence with this major first responder organization." 

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 Siyata Mobile's (SYTA) new order announced in November 2024?

Siyata Mobile (SYTA) secured a new order valued at $2.5 million for PTT handsets and Real Time View devices.

When will Siyata Mobile (SYTA) deliver the $2.5 million order announced in November 2024?

Siyata Mobile expects to deliver the order in the first quarter of 2025.

What type of customer placed the $2.5 million order with Siyata Mobile (SYTA)?

The order was placed by an existing customer, an international EMS (Emergency Medical Services) organization.