Siyata Mobile Inc. (NASDAQ:SYTA) 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.Siyata’s common shares trade on the Nasdaq under the symbol “SYTA” and its previously issued warrants trade on the Nasdaq under the symbol “SYTAW.”
On May 24th, SYTA announced its financial results for the three months ended March 31, 2023. All amounts are in US dollars unless otherwise indicated. Source: https://finance.yahoo.com/news/siyata-mobile-announces-first-quarter-200500901.html
Revenues were $1.8 million compared to $0.8 million for the three months ended March 31, 2022. This increase of $970,000, or 116%, was due mainly to sales of the SD7 in Q1 2023 of $800,000, offset by a decrease in sales of the legacy products and boosters. Net operating loss was ($2.7) million as compared to an operating loss of ($3.6) million, an improvement of $901,000.Net loss was ($7.6) million, inclusive of a ($4.9) million non-cash change in fair value of warranty liabilities, as compared to a net loss of ($3.9) million, inclusive of a $0.6 million non-cash change in fair value of derivative liabilities, in the same period in the prior year.Adjusted EBITDA was ($2.0) million versus ($2.6) million in the same period in the prior year, an improvement of $676,000. (See reconciliation with IFRS below).Liquidity and Capital ResourcesAs of March 31, 2023, the Company had a cash balance of $1.2 million and working capital of $4.2 million compared to $1.9 million and $1.6 million, respectively, as of December 31, 2022. As of March 31, 2023, the Company had zero debt, excluding trade payables.
“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 Marc Seelenfreund, Founder and CEO of Siyata. 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.”Seelenfreund continued, “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 multi-billion opportunity globally.1 We are building out a global channel strategy that we believe will enable us to capture a meaningful share of this massive opportunity.”
On the trading side, SYTA stock is currently trading at mere $0.0903. The 52 week high for SYTA is $1.6200 suggesting a tremendous upside potential. (Source:https://finance.yahoo.com/quote/SYTA/). Start your DD now by watching this video:
Video Link: https://www.youtube.com/embed/n2ve_j5CeKk
For more information on SYTA, Click HERE
Another sector that is currently storming wall street is AI stocks. Investing in artificial intelligence (AI) provides exposure to one of the most transformative tech sectors. There are several notable AI stocks, representing a mix of well-established tech giants and promising start-ups. Alphabet Inc. (GOOGL) is the parent company of Google and a leader in AI, especially in the areas of search, autonomous vehicles, and machine learning. Amazon (AMZN) leverages AI for logistics, personalization, its Alexa voice assistant, and AWS cloud services. Microsoft (MSFT) utilizes AI in its cloud computing platform, Azure, its personal assistant Cortana, and various other applications. NVIDIA (NVDA) is a leader in AI hardware, providing GPUs that power data centers and autonomous vehicles. Apple (AAPL) uses AI in Siri, its personal assistant, and in various elements of its software and hardware design. IBM (IBM) has been a key player in AI for decades, with its Watson platform being one of the most recognizable names in the space.On the side of startups and smaller companies, OpenAI (OPENAI) is a leading research organization turned company in the AI field. Palantir Technologies (PLTR) is a software company specializing in big data analytics. Then, there’s Twilio (TWLO), which offers AI-powered communication platforms. UiPath (PATH) specializes in robotic process automation, while C3.ai (AI) provides an enterprise AI platform. Please note that while these companies are significantly involved in AI, their stock performance also depends on various other factors, and investment should always be based on careful research.
Other hot stocks to take notice include Atento SA (NYSE:ATTO), Wearable Devices Ltd (NASDAQ:WLDS) and T2 Biosystems Inc (NASDAD:TTOO)
Disclaimer: Please make sure to completely read and understand our disclaimer at https://investorbrandmedia.com/disclaimer/. InvestorBrandMedia.com has been compensated one thousand four hundred dollars for ticker tagging advertisement services on SYTA by a 3rd party Bullyzeye Media LLC starting 05/30/2023 to 06/02/2023.
InvestorBrandMedia is not operated by a licensed broker, a dealer, or a registered investment adviser. It should be expressly understood that under no circumstances does any information published herein represent a recommendation to buy or sell a security. Our reports/releases are commercial advertisements and are for general information purposes ONLY. We are engaged in the business of marketing and advertising companies for monetary compensation. Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. The information made available in this article is not intended to be, nor does it constitute investment advice or recommendations. The contributors may buy and sell securities before and after any particular article, report, and publication. In no event shall InvestorBrandMedia be liable to any member, guest, or third party for any damages of any kind arising out of the use of any content or other material published or made available by InvestorBrandMedia., including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information in this video, article, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. InvestorBrandMedia.com strongly urges you to conduct a complete and independent investigation of the respective companies and consideration of all pertinent risks. Readers are advised to review SEC periodic reports: Forms 10-Q, 10K, Form 8-K, insider reports, Forms 3, 4, 5 Schedule 13D. For some content, Investor Brand Media, its authors, contributors, or its agents, may be compensated for preparing research, video graphics, and editorial content. As part of that content, readers, subscribers, and website viewers are expected to read the full disclaimers and financial disclosures statement that can be found on our website by visiting InvestorBrandMedia.com/Disclaimer. The Private Securities Litigation Reform Act of 1995 provides investors a safe harbor in regard to forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance are not statements of historical fact may be forward-looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this action may be identified through the use of words such as projects, foresee, expects, will, anticipates, estimates, believes, understands, or that by statements indicating certain actions & quotes; may, could, or might occur. Understand there is no guarantee past performance will be indicative of future results. Investing in micro-cap and growth securities is highly speculative and carries an extremely high degree of risk. It is possible that an investor’s investment may be lost or impaired due to the speculative nature of the companies profiled.
Media Contact
Company Name: Investor Brand Media
Contact Person: Ash K
Email: investorbrandmedia@gmail.com
Phone: (954) 593-5597
Country: United States
Website: https://investorbrandmedia.com/