Siyata Mobile Inc.

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Siyata Mobile Inc. reports Q2 revenue decline, eyes growth opportunities

Siyata Mobile Inc. faces challenges with working capital constraints impacting revenue and profitability.
Despite lower Q2 2024 revenue and margins, the company anticipates strong growth in Q3 and aims for double-digit growth in 2024.
Efforts to manage expenses and enhance operational efficiency will be crucial for future financial health and sustained growth.
Addressing liquidity challenges and optimizing costs present opportunities for improving financial performance and long-term sustainability.

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Siyata Mobile, Inc. engages in the provision of cellular communications systems for enterprise customers. It specializes in connected vehicle products for professional fleets, marketed under the Uniden Cellular and Siyata brands. The firm operates through the following geographical segments: Europe, the Middle East and Africa; Unites States; Canada; and Australia and New Zealand. The company was founded by Marc Seelenfreund on October 15, 1986 and is headquartered in Montreal, Canada.

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Siyata Mobile Inc. (NASDAQ:SYTA ) Q3 2022 Earnings Conference Call November 11, 2022 8:00 AM ET Company Participants Daniel Kim – Vice President-Corporate Development Marc Seelenfreund – Chief Executive Officer Glenn Kennedy – Vice President-International Sales Conference Call Participants Jack Vander Aarde – Maxim Group Tom Kerr – Zacks Investment Operator Good morning, ladies and gentlemen, and welcome to the Siyata Mobile Q3 Conference Call. At this time, all lines are in a listen-only mode.

Siyata Mobile Inc. (SYTA) Q3 2022 Earnings Call Transcript

This press release corrects, replaces and entirely supersedes the prior version published on November 10, 2022 at 4:15 PM ET Q3 revenue up 111% year-over-year to ~$2.6M Adjusted EBITDA loss declined 68% year-over-year to ~$1.6M Purchase orders of the rugged SD7 push-to-talk device and related accessories accelerated in Q3 with revenues of ~$1.4M Company to host conference call on Friday, November 11, at 8:00 a.m. EST VANCOUVER, BC / ACCESSWIRE / November 10, 2022 / Siyata Mobile Inc. (NASDAQ:SYTA)(NASDAQ:SYTAW) ("Siyata" or the "Company"), a global vendor of Push-to-Talk over Cellular (PoC) devices and cellular signal booster systems, announced its financial results for the three months ended September 30, 2022.

CORRECTING AND REPLACING: Siyata Mobile Announces Third Quarter 2022 Financial Results

Q3 revenue up 111% year-over-year to ~$2.6M Adjusted EBITDA loss declined 68% year-over-year to ~$1.6M Purchase orders of the rugged SD7 push-to-talk device and related accessories accelerated in Q3 with revenues of ~$1.4M Company to host conference call on Friday, November 11, at 8:00 a.m. EST VANCOUVER, BC / ACCESSWIRE / November 10, 2022 / Siyata Mobile Inc. (NASDAQ:SYTA)(NASDAQ:SYTAW) ("Siyata" or the "Company"), a global vendor of Push-to-Talk over Cellular (PoC) devices and cellular signal booster systems, announced its financial results for the three months ended September 30, 2022.

Siyata Mobile Announces Third Quarter 2022 Financial Results

New hire will immediately fill sales gap created by unprecedented demand for SD7 across multiple verticals VANCOUVER, BC / ACCESSWIRE / October 31, 2022 / Siyata Mobile Inc. ( NASDAQ:SYTA /SYTAW) ("Siyata" or the "Company"), a global vendor of Push-to-Talk over Cellular (PoC) devices and cellular signal booster systems, today announced the addition of telecom industry veteran Dan Leech to the Company's sales team. Mr. Leech brings more than a decade of senior sales experience to his role at Siyata.

Siyata Mobile Welcomes Telecom Industry Veteran Dan Leech to its Sales Team

SD7+ features a wide-angle camera coupled with 4G cellular connectivity will soon have traditional body camera functionality, as well as real-time situational and positional tracking An estimated 1.27 million global bodycams shipped in 2021, with North America representing the largest market share at approximately 485,000 units1 VANCOUVER, BC / ACCESSWIRE / October 26, 2022 / Siyata Mobile Inc. ( NASDAQ:SYTA )(NASDAQ:SYTAW) ("Siyata" or the "Company"), a global vendor of Push-to-Talk over Cellular (PoC) devices and cellular signal booster systems, today announces the SD7+ rugged mission-critical push-to-talk (PTT) device will soon be powered with Visual Labs Inc.'s ("Visual Labs") innovative body camera software. The integration of PTT and body camera functionality into a single platform eliminates the need for users to carry two separate devices (a communication device and a body camera), creating an ideal upgrade solution from legacy land mobile radio (LMR) technologies or proprietary stand-alone body cameras.

Siyata's SD7+ Cellular Body Camera Device Will Soon Be Powered by Visual Labs

VANCOUVER, BC / ACCESSWIRE / October 19, 2022 / Siyata Mobile Inc. (NASDAQ:SYTA) (NASDAQ:SYTAW) ("Siyata" or the "Company"), a global vendor of Push-to-Talk over Cellular (PoC) devices and cellular signal booster systems, today announced that Daniel Kim, VP Corporate Development of the Company, will attend and present at the ThinkEquity investor conference taking place at The Mandarin Oriental Hotel in New York on Wednesday, October 26, 2022. The Company is scheduled to present at 12:30 p.m.

Siyata to Present at ThinkEquity Investor Conference on October 26

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VANCOUVER, BC / ACCESSWIRE / October 13, 2022 / Siyata Mobile Inc. ( NASDAQ:SYTA )(NASDAQ:SYTAW) ("Siyata" or the "Company"), a global vendor of Push-to-Talk over Cellular (PoC) devices and cellular signal booster systems, today announced the closing of its previously announced $4.0 million registered direct offering. The Company previously entered into a securities purchase agreement with certain institutional investors to purchase approximately $4.0 million of its common shares (or pre-funded warrants in lieu thereof) in a registered direct offering and warrants to purchase common shares in a concurrent private placement.

Siyata Announces Closing of $4.0 Million Registered Direct Offering

VANCOUVER, BC / ACCESSWIRE / October 10, 2022 / Siyata Mobile Inc. (Nasdaq:SYTA/SYTAW) ("Siyata" or the "Company"), a global vendor of Push-to-Talk over Cellular (PoC) devices and cellular signal booster systems, today announced that it has entered into a securities purchase agreement with certain institutional investors to purchase approximately $4.0 million of its common shares and pre-funded warrants in lieu thereof in a registered direct offering and warrants to purchase common shares in a concurrent private placement. The combined effective purchase price for one common share and (pre-funded warrant in lieu thereof) and one warrant will be $0.23.

Siyata Announces Pricing of $4.0 Million Registered Direct Offering

VANCOUVER, BC / ACCESSWIRE / September 22, 2022 / Siyata Mobile Inc. (NASDAQ:SYTA) (NASDAQ:SYTAW) ("Siyata" or the "Company"), a global vendor of Push-to-Talk over Cellular (PoC) devices and cellular signal booster systems, is pleased to announce that it has received a purchase order from a federal government contractor who will provide Uniden® cellular booster kits and accessories to the U.S. Navy. The order includes the Uniden® U70P Cellular Booster Kits and accessories that will be utilized for numerous naval buildings with poor cell phone signal reception.

Siyata Mobile's Uniden(R) Cellular Booster Kits and Accessories To Be Purchased By U.S. Navy

Connecting school teachers and first responders, SD7's CrisisGo Panic App integration delivers instant communication for the U.S. public education system VANCOUVER, BC / ACCESSWIRE / September 8, 2022 / Siyata Mobile Inc. ( Nasdaq:SYTA /SYTAW) ("Siyata" or the "Company"), a global vendor of Push-to-Talk over Cellular (PoC) devices and cellular signal booster systems, is pleased to announce that its SD7 rugged mission-critical push-to-talk (MCPTT) device is now integrated with CrisisGo Inc.'s ("CrisisGo") Panic App, giving teachers instant access to first responders with a single push of a button. Integrated SoS communication improves response times and public safety during times of school community crisis.

Siyata Launches CrisisGo Panic App Integration for SD7, Providing Instant Communication Between Teachers and First Responders to Improve Crisis Response Times

VANCOUVER, BC / ACCESSWIRE / September 1, 2022 / Siyata Mobile Inc. (Nasdaq:SYTA, SYTAW) ("Siyata" or the "Company"), a global vendor of Push-to-Talk over Cellular (PoC) devices and cellular signal booster systems, today announced that the Company had received a notification letter dated August 26, 2022 from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq"), notifying the Company that it is currently not in compliance with the minimum bid price requirement set forth under Nasdaq Listing Rule 5550(a)(2). It resulted from the fact that the closing bid price of the Company's common shares, no par value per share ("Common Shares"), was below $1.00 per share for a period of 30 consecutive business days.

Siyata Mobile Announces Receipt of Nasdaq Notification Regarding Minimum Bid Price Deficiency

Inflection Point for Q3 2022 Sales VANCOUVER, BC / ACCESSWIRE / August 30, 2022 / Siyata Mobile Inc. ( Nasdaq:SYTA /SYTAW) ("Siyata" or the "Company"), a global vendor of Push-to-Talk over Cellular (PoC) devices and cellular signal booster systems, announces that it is in the process of ramping up sales of its next-generation MCPTT (mission critical push-to-talk) SD7 device, as well as the VK7 and Rapid Kit companion devices to numerous customers across multiple verticals including private security firms, police, emergency medical services (EMS), National Guard, school districts, hospitals/health clinics, a major theme park and others. In addition, demos have started or are about to begin with a defense contractor, several state patrols and various government agencies.

Siyata Mobile Announces Significant Ramp Up for SD7 Devices and Accessories Across Multiple Verticals

Q2 2022 revenue of $970k up 172% year-over-year, and adjusted EBITDA and Net Losses lower year-over-year Major North American carrier and international distributor agreements signed in Q2 2022 and subsequent to quarter end are driving accelerated sales growth of new rugged SD7 push-to-talk device and accessories Company to host conference call on Friday, August 19, at 8:00 a.m. ET VANCOUVER, BC / ACCESSWIRE / August 18, 2022 / Siyata Mobile Inc. (NASDAQ:SYTA)(NASDAQ:SYTAW) ("Siyata" or the "Company"), a global vendor of Push-to-Talk over Cellular (PoC) devices and cellular signal booster systems, announced its unaudited financial results for the three months ended June 30, 2022.

Siyata Mobile Announces Second Quarter 2022 Financial Results

FirstNet® and Verizon Communications Inc. booths to showcase Siyata's next-generation SD7 device APCO 2022 will be held August 7 - 10 in Anaheim, California APCO International is the world's oldest and largest organization of public safety communications professionals VANCOUVER, BC / ACCESSWIRE / August 1, 2022 / Siyata Mobile Inc. ( NASDAQ:SYTA /SYTAW) ("Siyata" or the "Company"), a global vendor of Push-to-Talk over Cellular (PoC) devices and cellular signal booster systems, announces it will showcase its SD7 rugged mission-critical push-to-talk over cellular (PoC) device with companion VK7 in-vehicle kit, and a full suite of cellular boosters at the APCO (Association of Public-Safety Communications Officials) International Conference held on August 7 - 10 in Anaheim, California. APCO International is the world's oldest and largest organization of public safety communications professionals, supports the largest U.S. membership base of any public safety association, and serves the needs of public safety communications practitioners worldwide.

Siyata to Showcase its Mission-Critical Push-to-Talk Over Cellular SD7 Device at APCO International Conference

VANCOUVER, BC / ACCESSWIRE / July 28, 2022 / Siyata Mobile Inc. ( Nasdaq:SYTA /SYTAW) ("Siyata" or the "Company"), a global vendor of Push-to-Talk over Cellular (PoC) devices and cellular signal booster systems, is pleased to announce the Company's SD7 rugged push-to-talk over cellular (PoC) devices were used to provide critical emergency communications services for the World Athletics Championships "Oregon22" ("WHC Oregon22") summer games hosted for the very first time in the United States in Eugene, Oregon. An estimated 55,000 visitors attended the marquee international track-and-field event at the University of Oregon's Hayward Field.

Siyata's Devices Provide Critical Emergency Communications Services for the World Athletics Championships Oregon22

VANCOUVER, BC / ACCESSWIRE / July 26, 2022 / Siyata Mobile Inc. (Nasdaq:SYTA/SYTAW) ("Siyata" or the "Company"), a global vendor of Push-to-Talk over Cellular (PoC) devices and cellular signal booster systems, announces its SD7 rugged mission-critical push-to-talk (MCPTT) device is now available for customers who need the integrated industry-leading PTT solutions from TASSTA, a global MCPTT software provider and end-to-end solution for critical communications. "Siyata SD7 ruggedized PTT device has been fully integrated by our TASSTA Quality Assurance team," commented Kaveh Hosseinzadeh, General Manager of TASSTA.

Siyata's Mission-Critical Push-to-Talk (PTT) Over Cellular SD7 Device Now Available with TASSTA's Industry-Leading PTT Solutions

Azetti is a leading provider of competitive carrier-grade platforms and services for mobile operators in Europe and Latin America Siyata's SD7 will be sold through existing Azetti sales channels VANCOUVER, BC / ACCESSWIRE / July 18, 2022 / Siyata Mobile Inc. ( NASDAQ:SYTA /SYTAW) ("Siyata" or the "Company"), a global vendor of Push-to-Talk over Cellular (PoC) devices and cellular signal booster systems, is pleased to announce an agreement with Spain's WIRELESS ZETA TELECOMUNICACIONES, S.L. ("Azetti") to offer the Company's SD7 rugged mission-critical push-to-talk (MCPTT) device through Azetti's existing enterprise sales channels.

Siyata Accelerates Global Rollout of its Next Generation Push-to-Talk Over Cellular SD7 Device through Agreement with Azetti Networks

New Siyata HPUE antenna designed for use with the AW12-Mega-Mobile HPUE modem from Assured Wireless HPUE technology provides superior range, coverage, penetration and capacity when used on the FirstNet ® network VANCOUVER, BC / ACCESSWIRE / July 14, 2022 / Siyata Mobile Inc. (NASDAQ:SYTA) (NASDAQ:SYTAW) ("Siyata" or the "Company"), a global vendor of Push-to-Talk over Cellular (PoC) devices and cellular signal booster systems, is pleased to announce it is launching a new product, a Siyata High Power User Equipment (HPUE) antenna, in conjunction with Assured Wireless Corporation ("Assured Wireless"). This unique solution is designed to be used specifically on FirstNet® that leverages 700 MHz Band 14 - the only U.S. spectrum where the highest-power HPUE equipment can be used.

Siyata Mobile Announces New Product Launch of High Power User Equipment (HPUE) Antenna with Assured Wireless

Integrated with ChatterPTT, SD7 Delivers Instant Push-to-Talk Over Cellular (PoC) to Improve Enterprise Communications VANCOUVER, BC / ACCESSWIRE / July 13, 2022 / Siyata Mobile Inc. (NASDAQ:SYTA) (NASDAQ:SYTAW) ("Siyata" or the "Company"), a global vendor of Push-to-Talk over Cellular (PoC) devices and cellular signal booster systems, announces Logic Wireless Europe Ltd. ("Logic Wireless"), a leading distributor of business-critical communication solutions across the United Kingdom, Australia, New Zealand and the Pacific Islands, will introduce the Siyata SD7 rugged PoC device integrated with ChatterPTT.

Logic Wireless and Siyata Mobile Launch Next Generation Push-to-Talk Over Cellular SD7 Device in the United Kingdom, Australia, New Zealand and the Pacific Islands

United States Cellular

This press release corrects a misspelling in the headline Industry Changing PoC Device Offers a Far Superior Solution to Competitive Land Based Radio Technologies SD7 Targets the Multi-Billion Dollar First Responder and Enterprise Personnel Market UScellular™ is the Fourth Largest Wireless Carrier in the United States with 4.8 Million Customers VANCOUVER, BC / ACCESSWIRE / July 6, 2022 / Siyata Mobile Inc. (Nasdaq:SYTA/SYTAW) ("Siyata" or the "Company"), a global vendor of Push-to-Talk over Cellular (PoC) devices and cellular signal booster systems, is pleased to announce that United States Cellular Corporation (NYSE: USM, or "UScellular™"), the fourth largest wireless carrier in the U.S. with 4.8 million retail connections in 21 states, will launch Siyata's rugged SD7 device onto their network. We expect UScellular™ will commence selling the SD7 to their broad enterprise customer base beginning this quarter.

CORRECTION: UScellular(TM) to Launch Siyata's Next Generation Push-to-Talk Over Cellular SD7 Device Across Their Network

Industry Changing PoC Device Offers a Far Superior Solution to Competitive Land Based Radio Technologies SD7 Targets the Multi-Billion Dollar First Responder and Enterprise Personnel Market UScellular™ is the Fourth Largest Wireless Carrier in the United States with 4.8 Million Customers VANCOUVER, BC / ACCESSWIRE / July 6, 2022 / Siyata Mobile Inc. ( Nasdaq:SYTA /SYTAW) ("Siyata" or the "Company"), a global vendor of Push-to-Talk over Cellular (PoC) devices and cellular signal booster systems, is pleased to announce that United States Cellular Corporation (NYSE: USM, or "UScellular™"), the fourth largest wireless carrier in the U.S. with 4.8 million retail connections in 21 states, will launch Siyata's rugged SD7 device onto their network. We expect UScellular™ will commence selling the SD7 to their broad enterprise customer base beginning this quarter.

UScellula(TM) to Launch Siyata's Next Generation Push-to-Talk Over Cellular SD7 Device Across Their Network

The SD7 is ideally suited for AT&T's enterprise customers who require a rugged device that offers superior coverage, improved functionality and low start-up and operating costs AT&T serviced 201.8 million mobility subscribers, as of the end of the fourth quarter of 2021 VANCOUVER, BC / ACCESSWIRE / June 27, 2022 / Siyata Mobile Inc. ( NASDAQ:SYTA /SYTAW) ("Siyata" or the "Company"), a global vendor of Push-to-Talk over Cellular (PoC) devices and cellular signal booster systems, is pleased to announce that the SD7 rugged device is now commercially available on and will be sold through the FirstNet® network and to AT&T Inc.'s ("AT&T") enterprise channels. AT&T is one of America's largest mobile operators with 201.8 million mobility subscribers, as of Q4 2021.

Siyata's Next Generation Push-to-Talk Over Cellular SD7 Device is Now Commercially Available and Sold Through FirstNet(R) and AT&T Inc.

SD7 Rapid Kit is ideal for emergency situations such as for first responders, hospitals, schools and more, who may require rapid deployment of SD7 Push-to-Talk over Cellular devices in emergency situations VANCOUVER, BC / ACCESSWIRE / June 16, 2022 / Siyata Mobile Inc. ( NASDAQ: SYTA , SYTA) ("Siyata" or the "Company"), a global vendor of Push-to-Talk over Cellular (PoC) devices and cellular signal booster systems, today announced the launch of the SD7 Rapid Kit, a new and unique portable kit accessory that provides an in-field remote charging solution designed specifically for use with the Company's SD7 device, a ruggedized, mission critical PoC handset. "This launch demonstrates our continued commitment to deliver innovation for emergency situations with products that are specifically designed to meet their needs," said Siyata CEO Marc Seelenfreund.

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