Siyata Mobile is landing more fleet sales with analysts forecasting revenue to double in 2020
Siyata Mobile Inc. (TSXV: SIM | OTCQX: SYATF) is a leading global developer and provider of cellular communications systems for enterprise customers, specializing in connected vehicle products for fleets, marketed under the Uniden® cellular brand. Siyata has recently teamed up with Canada’s largest wireless service provider Rogers Communications to expand its sales reach.
Some examples of Siyata’s fleet customers are the first responders (police, ambulance, fire), and other fleets (taxis, trucks, buses etc).
Siyata Mobile’s primary target markets
The Uniden® UV350 is now available through Rogers
The Uniden® UV350 is now available through Rogers who offers a full range of products and solutions for business customers. Rogers Communications Inc. (RCI) is the largest wireless service provider in Canada.
Marc Seelenfreund, CEO of Siyata Mobile, commented: “Launching the UV350 with the largest provider of wireless communications services in Canada continues to increase our reach and we are confident our innovative in-vehicle solution will continue to spread among enterprise and commercial drivers, creating an increasing demand as our brand recognition grows.”
The Uniden UV350 to be integrated with Nova Talk
The Company’s flagship Push-to-Talk LTE Uniden® UV350 in-vehicle device is to be integrated with Nova Talk, a leading enterprise solution for instant communication using a real-time push to talk and group text messaging system via the onboard app. The UV350 provides its enterprise customers with the first-ever dedicated in-vehicle Push-to-Talk (PTT) cellular solution built for the specific requirements of commercial vehicles.
The integration of the UV350 device has commenced with certain commercial vehicles of one of the largest automobile manufacturers in the United States. Drivers will be able to operate their device through the control panels of the commercial fleet vehicles. This integration is geared towards providing commercial vehicle drivers increased functionality, crystal clear sound quality, with fewer hardware accessories inside the vehicle cabin. The integrated device de-clutters the dash allowing drivers to keep their eyes on the road and hands on the wheel.
Siyata receives an additional order from a leading taxi technology distributor
Siyata Mobile has received an additional purchase order from a leading taxi technology distributor in Israel. This customer’s original purchase order of $360,000 has been increased to a total of over $850,000. The customer will equip their taxi drivers with the Company’s CP250 4G/LTE rugged Push-to-Talk mobile devices, in addition to its commercial vehicle devices. The CP250 allows seamless communication between drivers at the push of a button, with a dedicated microphone and speaker for crystal-clear sound.
CEO Marc Seelenfreund states: “This is a great customer for us that focuses on the taxi market vertical and is a strong validation for both our commercial vehicle and rugged mobile Push-to-Talk solutions. This additional purchase order aims to provide professional drivers with seamless communication between one another at the push of a button both inside their taxis and on the go”.
With approximately 22,000 taxis in Israel, this is another vertical, with a great opportunity to gain market share from traditional land mobile radio systems, which have supplied the market for many decades. The opportunity with this specialized distributor is many times the size of the initial purchase order and Siyata is looking forward to a valuable relationship with them to equip their large taxi customer base.
Siyata’s sales channels now exceed 200 million cellular network subscribers
The UV350 is now in enterprise sales channels with carrier partners which have a combined market cap in excess of $300 billion and over 200 million cellular network subscribers. Examples of these sales channels include the following:
- At&T – 153 million subscribers
- First Net (responders) – 450,000 subscribers
- An Undisclosed Tier 1 US Carrier
- Bell (in Canada) – 9.61 million subscribers
Large addressable enterprise vehicle market just in Canada and the US
- Commercial truck market – There are over 17 million commercial trucks in the United States and over 1.1 million in Canada.
- First responder market – Over ~3.5 million emergency vehicles estimated in the United States.
After several years establishing the Company and perfecting its products Siyata Mobile is now poised to take off. First responder and taxi fleet sales have started rolling in resulting in increased revenue for Siyata. Analysts forecast revenue to double in 2020 to reach C$31.4 million and Siyata to become earnings positive in 2020.
Siyata Mobile Inc. was founded in 2012 and is headquartered in Canada. The Company has a target price of C$1.09 representing a 221% upside.
Matthew Bohlsen is a Senior Editor for InvestorIntel.com. With a Graduate Diploma in Applied Finance and Investment, and a Graduate Diploma in Financial Planning. He ... <Read more about Matthew Bohlsen>