Siyata Mobile (NASDAQ: SYTA) (TSX.V: SIM), a global provider of innovative Push-to-Talk (“PTT”) over Cellular (“PoC”) and cellular signal booster solutions, has released a report on its financial results for the three-month period ended March 31, 2023. Highlights of the report include a 116% year-over-year revenue increase, with revenue totaling $1.8 million for the quarter; a significant improvement of $901,000 in net operating loss, with a ($2.7) million quarter loss reported compared to ($3.6) million for the same period in 2022; and Adjusted EBITDA totaling ($2) million versus ($2.6) million for the same period in the prior year, a $676,000 improvement. “We are returning to growth with first-quarter revenue more than doubling compared to the first quarter last year on strengthening sales of our mission-critical PoC (‘MCPTT’) SD7 solution,” said Siyata Mobile founder and CEO Marc Seelenfreund in the press release. “The majority of our customer trials that were initiated in the second half of 2022 have proven successful, and as a result, we are experiencing a step up in purchase orders. Recent purchase orders in the emergency response and education verticals establish a basis for accelerating growth in the second quarter, and our pipeline of developing opportunities reinforce our optimism for the second half of 2023 and beyond. . . . Our distribution network now includes established relationships with leading North American cellular carriers, including AT&T, FirstNet, T-Mobile, Verizon, Bell and US Cellular, and we recently added KPN Royal Dutch Telecom to the lineup, expanding our reach in Europe. The push-to-talk over cellular market represents a multibillion opportunity globally. We are building out a global channel strategy that we believe will enable us to capture a meaningful share of this massive opportunity.”
To view the full press release, visit https://ibn.fm/2IvnT
About Siyata Mobile Inc.
Siyata Mobile 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. The company’s 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. For more information about the company, visit www.SiyataMobile.com or www.UnidenCellular.com.
NOTE TO INVESTORS: The latest news and updates relating to SYTA are available in the company’s newsroom at https://ibn.fm/SYTA
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