Siyata Mobile (NASDAQ: SYTA), a global vendor of Push-to-Talk over Cellular (“PoC”) devices and cellular booster systems, has reported financial results for the fourth quarter and full-year ending Dec. 31, 2021. A highlight for the full-year report was a 26% increase in revenue, totaling $7,545,488 for 2021 compared to $5,989,772 for the same period the previous year. According to the company, the increase was primarily because of sales growth in the Europe, Middle East and Africa areas. The report also noted that, on a product-by-product comparison, booster sales increased by $1,569,000 year-over-year, based on higher booster sales in the United States, specifically in the industrial marketplace. The report also showed that gross margin for the period ended Dec. 31, 2021, was $1,868,171 (24.8% of sales) compared to $1,580,117 (26.4% of sales) for the previous year. Fourth-quarter numbers showed revenues for the company reached $1,937,659 for 2021 with a net loss for the same period of ($4,979,661), compared to a net loss of ($9,911,960) for the same period the previous year. “[The year] 2021 was a pivotal and transformational year for Siyata,” said Siyata Mobile founder and CEO Marc Seelenfreund in the press release. “We saw revenue growth this year, growing 26% over 2020, which was driven by demand for our products in the EMEA region. . . . The launch of the SD7, our newest push-to-talk ruggedized device, and the accompanying vehicle kit accessory, the VK7, received initial orders in early December. This new and refreshed product lineup, combined with our expanded partnerships and key new sales hires, will provide a strong foundation for further strong growth moving into 2022.”
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About Siyata Mobile Inc.
Siyata Mobile is a B2B global vendor of next-generation Push-to-Talk over cellular (“PoC”) devices and cellular booster systems. Its portfolio of in-vehicle and rugged smartphones enable first responders and enterprise workers to instantly communicate over a nationwide cellular network of choice to increase situational awareness and save lives. Siyati’s portfolio of enterprise-grade and consumer cellular-booster systems enables first responders and enterprise workers to amplify cellular signal in remote areas, inside buildings where signals are weak and within vehicles for maximum cellular signal strength possible. For more information about the company, visit www.SiyataMobile.com or www.UnidenCellular.com.
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