Siyata Mobile (NASDAQ: SYTA) (TSX.V: SIM), a global vendor of Push-to-Talk over Cellular (“PoC”) devices and cellular booster systems, is reporting its financial results for the quarter ended March 31, 2022, along with key operational highlights, including a $2.2 million purchase order the company received for a tier 1 U.S. wireless operator. The report noted that Siyata’s first-quarter revenue, which was $832,974, down from $4,031,975 for the same period in 2021, reflects the company’s transition from a legacy product sales cycle to a new product line, with production being ramped up for Siyata’s SD7 rugged handset. Other numbers also reflected that downward trend, with gross margin for the quarter totaling $255,051, adjusted EBITDA reported at a negative ($2,629,373) and a net loss of ($4,893,491) compared to a net loss of ($2,115,406) in the prior year period. “We fortified the foundation for our North American launch of the SD7, our newest push-to-talk ruggedized device, and the accompanying vehicle kit accessory, the VK7, during the first quarter,” said Siyata founder and CEO Marc Seelenfreund in the press release. “The recent approval onto a national broadband network for first responders and certification of the SD7, enabling first responders to tap into specialized capabilities designed to meet their needs, is a game changer that is expected to accelerate sales growth in the quarters ahead, as evidenced by the $2.2 million purchase order we recently received for a tier 1 U.S. wireless operator. We believe there is significant near- and long-term growth potential for these product lines, which have the potential to disrupt the $12.6 billion land mobile radio (“LMR”) industry and replace traditional two-way radios with next-generation devices.”
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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. Siyata’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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