Siyata Mobile Sales Exceed $5M in Q2
July 9, 2018 (Source) — Strong growth seen as Siyata roles out its 4G product portfolio and as industry moves from two-way radio to cellular based systems
Siyata Mobile Inc. (the “Company” or “Siyata”) (TSX-V:SIM) (OTCQX:SYATF) is pleased to announce that, combined with a highly successful early launch of its 4G/LTE Push-to-Talk Over Cellular (“PoC”) device portfolio over the last three months, Siyata has achieved sales in excess of $5M CDN. The growth in revenue comes after the two previous quarters were focused on shifting new and existing customers from legacy 3G products to the new 4G/LTE portfolio. Purchase orders were received by cellular operators, two-way radio vendors, and distributors around the globe and sold to first responders, municipalities, hotels, bus and other logistics and transportation companies. The Company also reports it is receiving excellent feedback from the carriers that are selling the devices and its end use customers.
Siyata’s revenue since the launch was greater than any other portfolio in the Company’s history and is telling sign of the strong demand from carriers and their customers looking to replace aging two-way technology to smarter, more advanced, 4G/LTE systems to communicate. Android based applications and other features available on Siyata’s devices helps improve driver/worker safety and enterprise efficiencies not offered by traditional two-way radios and is a major selling feature of Siyata’s 4G/LTE devices.
As cellular operators generally do not generate revenue from two-way radio communication, there is a strong push for carriers around the world to take market share from two-radio network providers. In order to do this, cellular operators need to replace two-way radio systems with cellular based hardware to be compatible on their network with a SIM card.
Marc Seelenfreund, CEO and Chairman of Siyata Mobile, stated, “Developing and marketing our 4G/LTE portfolio was a priority for Siyata and we are happy to report that we are now producing meaningful results, improving margins and continuously growing our distribution. We are witnessing a paradigm shift in the industry where enterprise customers want a more robust, efficient and cost-effective solution than single purpose two-way radios and we believe that we are well positioned to become a global leader in the PoC market. We look forward to continuing success as we prepare to launch the UV350 with Tier 1 carriers in North America, a market 30 times the size of our current distribution reach.”
The UV350 is the world’s first and only purpose built 4G/LTE in-vehicle cellular device available which strongly positions Siyata Mobile to benefit from the tremendous shift in the industry towards all-in-one devices, for smarter, cellular based communications in the enterprise world.
According to the United States Department of Transportation, in 2015 there were over 12 million fleet vehicles in the United States, with a large number still using two-way radio systems to communicate. Siyata aims to be the leading provider of connected vehicle and mobile hardware solutions as these commercial fleets upgrade their communication platforms to be compatible with next generation networks, PoC solutions and other software applications.
A TSX Venture Top 50 Company, Siyata Mobile Inc. is a leading global developer and provider of cellular communications systems for enterprise customers, specializing in connected vehicle products for professional fleets, marketed under the Uniden® Cellular brand. Since developing the world’s first 3G connected vehicle device, Siyata has been a pioneer in the industry, launching the world’s first 4G LTE all-in-one fleet communications device in 2017. Incorporating voice, push-to-talk over cellular, data, and fleet management solutions into a single device, the company aims to become the connected vehicle communications device of choice for commercial vehicles and fleets around the world.
Siyata also offers rugged phones for industrial users and signal boosters for homes, buildings, and fleets with poor cell coverage. Siyata’s customers include cellular operators, commercial vehicle technology distributors, and fleets of all sizes in Canada, the U.S., Europe, Australia, and the Middle East.
On Behalf of the Board of Directors of:
SIYATA MOBILE INC.
CEO and Chairman
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
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