By Jad Malaeb, Benzinga
Siyata Mobile Inc. (NASDAQ: SYTA), a global vendor of Push-to-Talk over Cellular (PoC) devices and cellular signal booster systems, is making waves in the industry with its recent developments. The company recently issued several press releases indicating that Siyata's product line may be gaining momentum, including the most recent press release from Thursday, July 6, 2023, announcing the receipt of their companys largest SD7 purchase order of approximately $1.4 million. The SD7 handsets are approved for use by all major U.S. wireless carriers, and new orders continue to increase due to the demand for Push-to-Talk Over Cellular Handsets.
In previous press releases, Siyata announced that it has received new orders during the second quarter of 2023. On June 22, 2023, Siyata announced approximately $600,000 in aggregate revenue. The orders include Siyata's SD7 Handsets and VK7 Vehicle Kits and come from customers of leading cellular carriers. Delivery of these orders is expected to take place in the second and third quarters of 2023.
Marc Seelenfreund, CEO of Siyata, expressed his enthusiasm, stating, "These orders are additional proof points of the sales momentum that we are building and the demand for our unique Push-to-Talk offering." He highlighted Siyata's strategy of leveraging the sales forces of major cellular carrier partners, enabling them to reach more customers across the U.S. and diversify into new markets. The announced orders will support operations in education, construction and logistics, showcasing the broad applicability of Siyata's SD7 handsets beyond the traditional emergency response market.
The recent $600,000 in extra revenue is an add-on to the string of deals Siyata Mobile has been securing throughout the year. On June 1st, 2023, for example, the company received an order for $1.2 million for its UV350 In-Vehicle Devices and Siyata Real Time View service. Four days later, on June 5th, 2023, Siyata received orders for $400,000 in aggregate revenue for its SD7 Handsets and VK7 Vehicle Kits.
The combination of these press releases indicates a potentially promising trajectory for Siyata's product line. Including previous press releases, the total revenue of these press releases announcing certain sales so far in 2023 is $6.1 million exceeding 2022s full-year revenue figure of $6.0 million, with five months still left in the current year.
Siyata's increasing presence in various industries demonstrates the growing adoption of its PoC devices and cellular booster systems. The company already serves sectors such as Public Safety, Transportation, Oil & Gas, School, Service Delivery and Waste Management, and it is actively seeking to expand into additional target markets. As the demand for efficient and reliable communication solutions continues to rise, Siyata may be well-positioned to capture a larger market share and drive further innovation in the industry.
The companys regulatory filings also indicate that its CEO Marc Seelenfreund participated in the last capital raise by purchasing 1.8 million shares. This is another indicator that the company believes that it is on the right path and insiders anticipate growth.
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Siyata Mobile Inc. is a B2B global vendor of next-generation Push-To-Talk over Cellular devices, cellular booster systems, and video monitoring solutions. Its portfolio of in-vehicle and rugged devices enables 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 signals in remote areas, inside structural buildings where signals are weak, and within vehicles for the maximum cellular signal strength possible.For its video monitoring system, Siyata integrates software that we license with off-the-shelf hardware providing our customers with an integrated advanced camera system for management and visual monitoring of their fleet vehicles.
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Siyata Mobile Inc.