Siyata Mobile Receives 1000 Unit Order for UV350 Devices
Siyata Mobile Inc. receives a purchase order for 1,000 units of its UV350 in-vehicle fleet communication devices from an international EMS provider. The company expects to deliver the units in the current quarter. CEO Marc Seelenfreund emphasizes the importance of serving the First Responder vertical and highlights the strategic growth plans for 2024.
The recent purchase order for Siyata Mobile's UV350 devices signifies a strategic expansion within the emergency services sector, which is a critical vertical for the company. The 'First Responder vertical' is a niche market focused on providing specialized communication tools for emergency service personnel. Such a purchase order from an international EMS provider not only serves as a testament to the product's functionality and market acceptance but also indicates potential for further penetration into global markets.
From a market perspective, the diversification of revenue sources through geographic expansion can mitigate risks associated with over-reliance on a single market. Additionally, the mention of a growing dealer network and a pipeline of new sales opportunities suggests a proactive approach to market expansion, which could lead to increased market share and improved financial health, especially if the company is aiming for profitability in the near future.
The announcement of the purchase order aligns with Siyata Mobile's financial goals of ramping up sales and reaching profitability. Delivering 1,000 units of the UV350 in the first quarter is an actionable item that can impact quarterly revenue directly. For investors, the company's performance in the short-term will be indicative of its ability to execute on sales strategies and manage its supply chain effectively.
Long-term implications include the potential for recurring revenue from this international EMS provider if the UV350 becomes a standard piece of equipment within their operations. However, investors should monitor gross margins on these units and the cost of expanding the dealer network, as aggressive sales strategies can sometimes come at the expense of profitability if not managed carefully.
The UV350 is described as an 'all-in-one in vehicle fleet communication device,' which suggests a convergence of technologies catering to the specific needs of fleet operations. The Push-to-Talk over Cellular (PoC) technology is a modern take on traditional walkie-talkie systems, allowing instant communication over cellular networks. This technology is particularly useful for fleet vehicles that require reliable communication across vast distances without the need for traditional radio infrastructures.
Securing a large order from an international EMS provider indicates that Siyata's product is well-positioned to meet the rigorous demands of emergency services. It is important to understand how the UV350 stands against competitors in terms of durability, reliability and cost-efficiency. The product's success in this vertical could lead to further adoption in similar sectors, which would be crucial for Siyata's growth trajectory.
02/22/2024 - 08:00 AM
VANCOUVER, BC / ACCESSWIRE / February 22, 2024 / Siyata Mobile Inc. (NASDAQ:SYTA)(NASDAQ:SYTAW) Siyata " or the "Company "), a global developer and vendor of Push-to-Talk over Cellular (PoC) handsets and accessories, announces it has received a purchase order for 1,000 units of its UV350 all-in-one in vehicle fleet communication devices from an international EMS provider.
The Company expects to deliver the units in the current, first quarter of 2024.
Siyata CEO, Marc Seelenfreund, commented, "Serving the First Responder vertical is foundational to our business, and this order reinforces our prominent position within the space. Our UV350 is essentially a smartphone that is specifically designed for fleet vehicles to optimize mobile communications while driving. We are pleased to add this international organization to our growing customer list and increase the geographic diversity of our revenue sources. Expansion of our dealer network, steady order flow and a growing pipeline of new, identified sales opportunities are the building blocks to achieving our number one goal in 2024 of aggressively ramping up sales and reaching profitability in the coming quarters."
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" and its previously issued warrants trade on the Nasdaq under the symbol "SYTAW."
Visit www.siyata.net and unidencellular.com to learn more.
Investor Relations (Canada):
Kin CommunicationsSYTA@kincommunications.com
Investor Relations (United States):
Brett MaasSYTA@Haydenir.com
Siyata Mobile Corporate:
Glenn Kennedy, VP of International Salesglenn@siyata.net
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.
SOURCE: Siyata Mobile Inc.
press release on accesswire.com
How many units did Siyata Mobile receive a purchase order for?
Siyata Mobile received a purchase order for 1,000 units of its UV350 in-vehicle fleet communication devices.
Who placed the purchase order with Siyata Mobile?
An international EMS provider placed the purchase order with Siyata Mobile.
When does Siyata Mobile expect to deliver the units?
Siyata Mobile expects to deliver the units in the current, first quarter of 2024.
What is the UV350 device designed for?
The UV350 device is specifically designed for fleet vehicles to optimize mobile communications while driving.
What are Siyata Mobile's growth goals for 2024?
Siyata Mobile aims to aggressively ramp up sales, reach profitability in the coming quarters, expand its dealer network, and increase geographic diversity of revenue sources.
