Siyata Mobile Inc Stock Price, News & Analysis

Siyata Mobile Inc. (Nasdaq: SYTA) reports growing sales momentum for its Bluetooth Remote Speaker Mic (RSM), a Push-to-Talk device compatible with both Android and iOS smartphones. The device functions like a traditional wired palm microphone, featuring IP-65 rating for rugged use.

Key reseller Novatek DMI has successfully deployed the RSM to various customers, including a large grocery store chain warehouse and a school bus company. The company highlights that the RSM's recent iOS compatibility expansion has increased its market potential in the $7 billion PTT market.

Siyata Mobile announced that the School District of Palm Beach County, Florida, is upgrading its existing communications solution to the latest SD7 handsets and VK7 Vehicle Kits with AI-enabled noise cancelling speaker microphones. The deployment will begin in Q4 2024. The district, one of the ten largest in the US, has been using Siyata's UV350 In-Vehicle devices for over five years. The upgrade aims to enhance communication clarity for school bus drivers through improved noise cancellation technology.

Siyata Mobile (NASDAQ: SYTA) reported record quarterly revenue of $5.9 million in Q3, marking a significant 218% year-over-year increase from the third quarter of 2023. The company's U.S. market sales have grown by 55% year-to-date. CEO Marc Seelenfreund highlighted increasing demand for SD7 handsets across various vertical markets, as these ruggedized devices are replacing traditional land mobile radio (LMR) systems. The company reports a strong pipeline of sales opportunities and is developing next-generation products to establish leadership in their multi-billion-dollar industry.

Siyata Mobile reported record Q3 2024 revenue of $5.9 million, marking a 218% increase year-over-year. U.S. market sales reached $4.8 million, representing 81% of total revenue. The company achieved a gross margin of $1.7 million (29.0%) and reduced its net loss to $0.6 million from $1.9 million in the same period last year. Despite growth, Adjusted EBITDA was ($3.3) million versus ($1.6) million year-over-year. The company's cash balance decreased to $0.2 million from $0.9 million at the end of 2023. Management expressed optimism about reaching profitability and plans to launch a new 5G product portfolio in 2025, with T-Mobile as their first wireless carrier partner.

Siyata Mobile Inc. (Nasdaq: SYTA) announced the deployment of its SD7 handsets and VK7 vehicle kits by The National St John Ambulance Service (NStJA) in Papua New Guinea. The emergency medical service provider has upgraded from standard smartphones to Siyata's ruggedized devices integrated with the Zello Push-to-Talk app. According to NStJA's Chief Executive, the new solution provides better performance with improved battery life, clearer audio, and simpler operation through a PTT button compared to their previous UHF radio system.

Siyata Mobile (Nasdaq: SYTA), a global vendor of Push-to-Talk over Cellular devices and cellular signal booster systems, has scheduled its Q3 2024 financial results conference call for November 15, 2024, at 8:30 a.m. ET. The company will release its results after market close on November 14. The call will be accessible via phone and internet, with replay available until November 29, 2024.

Siyata Mobile (NASDAQ: SYTA) has secured a significant $2.5 million order for PTT handsets and Real Time View devices from an existing international EMS organization, scheduled for Q1 2025. This single transaction exceeds the revenue of any individual quarter from the past four periods. The company is positioning itself in the $7B PoC Total Available Market, with this order demonstrating growing business relationships with existing customers and the effectiveness of their rugged communication devices in EMS operations.

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.

Siyata Mobile (Nasdaq: SYTA/SYTAW), a global vendor of Push-to-Talk over Cellular devices and cellular signal booster systems, announces its participation in The Spartan Capital Investor Conference on November 4, 2024, at The Pierre Hotel in New York City.

Glenn Kennedy, VP of International Sales, will deliver a presentation at 12 pm ET and conduct one-on-one investor meetings throughout the day. The conference brings together public company executives, institutional investors, and capital market leaders, offering networking and strategic discussion opportunities.