DENVER, Colo., Nov. 16, 2023 (www.247marketnews.com)- Siyata Mobile Inc. (NASDAQ: SYTA) hosted its third quarter earnings conference call, for the three months ended September 30, 2023 this morning.
Marc Seelenfreund, CEO of Siyata, set the tone by stating, “We’re going to have a very interesting first quarter” and delivering upcoming quarters that will be much better than the Company’s typical performance
The goal of reaching profitability in the upcoming quarters is powered by the move to transition from nonstock to stock status with one of the top three domestic carriers, an achievement that most devices do not attain. In fact, Siyata is the smallest company, by far, that will have a stocked device at a major mobile carrier and the benefits are massive.
The SD7+ handset will move from a device with a $400 MSRP to reaping the benefits of the carrier’s subsidization program, where the device only runs 99-cents upfront, with the balance factored into the monthly bill. Plus, Siyata will train the carrier’s sales force.
Unsurprisingly, based on the partnerships that the company developed and the SD7+ rollout, Seelenfreund believes that the upcoming 2024 quarterly sales will be “dramatically higher”, as the SD7+ should develop into what he said would be very good revenue generator, as it will be the only Push-to-talk (PTT) product that will be approved by the carrier.
The SD7+’s features include a body cam, mission-critical PTT, and 4G compatibility, making it ideal for public safety and private security markets.
The first responder market continues to grow at a rapid pace, as evidenced by FirstNet adding approximately 1,000 agencies and 300k connections. One of the market’s biggest drivers is upgrading from legacy Land Mobile Radio (LMR) communications to Push-to-Talk over Cellular (PoC) technologies.
Siyata also reported increasing demand for some of its other technologies, like the UV350 and its VK7 vehicle kits, which are being picked up in a wide variety of verticals.
Siyata’s real-time view is a powerful first responder tool for EMS, ambulances, and vehicle fleet markets, as it allows fleet managers more control over its fleet, by provides the command base a 360-degree view in the field.
Management noted that large school districts are replacing two-way radios and the Company anticipates adding more school districts.
Despite its third quarter focus on future growth initiatives, Seelenfreund stated, “Year-to-date, we have grown our revenue by 45% compared to the same period last year on increasing sales of our mission-critical, Push-to-Talk Over Cellular (PoC) solution.”
To listen to the replay, which will be available until November 30, 2023, dial +1 (877) 481-4010 or +1 (919) 882-2331, and, when prompted, enter Passcode 49473. Or go to https://www.webcaster4.com/Webcast/Page/2988/49473 to listen over the Internet.
About Siyata Mobile
Siyata Mobile Inc. is a B2B global vendor of next generation Push-To-Talk over Cellular devices and cellular booster systems. Its portfolio of in-vehicle and rugged devices enable first responders and enterprise workers to instantly communicate, over a nationwide cellular network of choice, to increase situational awareness and save lives.
Its portfolio of enterprise grade and consumer cellular booster systems enables first responders and enterprise workers to amplify cellular signal in remote areas, inside structural buildings where signals are weak and within vehicles for the maximum cellular signal strength possible.
Visit siyatamobile.com and unidencellular.com to learn more.
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Cautionary Statement Regarding Forward Looking Information
Statements in this press release about the Company’s future and expectations other than historical facts are “forward-looking statements.” These statements are made on the basis of management’s current views and assumptions. As a result, there can be no assurance that management’s expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as “believes,” “plans,” “expects,” “anticipates,” “foresees,” “estimated,” “hopes,” “if,” “develops,” “researching,” “research,” “pilot,” “potential,” “could” or other words or phrases of similar import. Forward looking statements include descriptions of the Company’s business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.
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