Siyata Mobile is winning many big smartphone orders which should lead to a rapidly rising revenue in 2020

This Canadian cellular communications company has been winning plenty of big contracts lately, notably selling their core products to fleets, including the First Responders (ambulance, fire, police, etc).

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. You can view a video of the core UV350 product here.

A TSX Venture Top 50 Company, Siyata has been a pioneer in the industry, launching the world’s first 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 Mobile sells the Uniden®UV350 mostly to fleets and commercial drivers including First Responders

Some of the key Uniden smartphone devices sold by Siyata Mobile

It has been a busy past 3 months for Siyata Mobile receiving several big orders

  • January 16, 2020 – Siyata Mobile launches UV350 in Sweden and receives first purchase order to supply heavy trucks, forestry, logistic companies, and more, coming in 2020.
  • December 23, 2019 – Siyata Mobile closes Private Placement of C$7,866,000 in unsecured convertible debentures.
  • December 19, 2019 – Siyata Mobile announces Uniden® UV350 now available via Ingram Micro for the two leading carriers in the U.S. Ingram Micro is one of the largest telecom distributors in the US.
  • December 16, 2019 – Siyata Mobile receives C$900K in purchase orders for 4G/LTE Push-to-Talk over cellular devices.
  • December 10, 2019 – Siyata Mobile receives C$450,000 purchase order to equip bus fleet with its Uniden® UV350.
  • December 2, 2019 – Siyata Mobile to be major supplier in large government tender for Push-to-talk Over Cellular (PoC) devices. The tender to deliver up to 15,000 Push-to-Talk Over Cellular (PoC) devices for various government agencies. Dependent on the total units and mix between rugged handsets and in-vehicle devices, the tender is valued between C$3 million to C$5 million and anticipated for delivery in the first half of 2020.
  • November 26, 2019 – Siyata Mobile wins minimum C$1.8 million tender to equip taxis with CP250 in-vehicle smartphone.
  • On November 18, 2019 – Siyata Mobile receives $950,000 purchase order for Uniden® UV350.

Following the above December $900K purchase orders CEO of Siyata Mobile, Marc Seelenfreund, stated:

“We continue to win new business and see our existing customers increase orders and buying our next generation 4G solutions. The clear end-user benefit of shifting to (Push to talk Over Cellular) PoC reduces capex and opex for our customers while increasing functionality and safety over a nationwide cellular network.”

And on December 2, 2019 the CEO stated:

“Since the beginning of Q4, the Company has announced a minimum of $6.5M to $9.0M of new business for its portfolio of 4G Push-to-Talk Over Cellular devices.”

Siyata’s revenue is growing fast and forecast to double by 2021

I have summarized the above recent news for the purpose of showing investors that Siyata Mobile is delivering. With each passing month more and more new customers are buying their products, and this should only grow more from here as word gets out about how good their Uniden product is.

From a revenue perspective it also highlights how fast revenue is growing, with analysts already forecasting 2020 revenues at C$15 million, and 2021 at C$31 million. Based on the CEO’s comments above of “$6.5 million to $9.0 million in Q4 2019, it certainly looks like they are well positioned to achieve or likely exceed the 2020 revenue target of C$15 million.

Should Siyata achieve this then they should soon become net income positive possibly by late 2020 or some time into 2021.

Given the revenue growth forecast of 100% in 2021 and the recent contract successes, it helps explain why analysts have a price target of C$1.14, for 280% upside. Time will tell if they achieve these forecasts; however, for now, it looks like they may well do it given the number of large new fleet orders coming in each quarter.

Glenn Kennedy on Siyata Mobile’s strong sales pipeline following a deal with AT&T

“We have recently signed a deal with AT&T and we think that is going to lead to some great sales opportunities down the road. We are working with other wireless carriers too. We at a tipping point for our company.” States Glenn Kennedy, Vice President of Sales at Siyata Mobile Inc. (TSXV: SIM | OTCQX: SYATF), in an interview with InvestorIntel’s Tracy Weslosky.

Glenn further added that in the United States a special network called FirstNet was created for First Responders (police officers, ambulance, firemen) to communicate in case of emergencies. Siyata’s products have been created so that they can work on this special network and there are very few products in the market that can do that. He also said that the company is forecasting strong sales growth quarter over quarter and year over year. As Siyata has now made some carrier launches and is working on other carrier launches too, the company sees a strong sales pipeline.

To access the complete interview, click here

Disclaimer: Siyata Mobile Ltd. is an advertorial member of InvestorIntel Corp.

Siyata Mobile’s Uniden UV350 is now approved for the First Responder Network

A ‘first responder’ is a person with specialized training who is among the first to arrive and provide assistance at the scene of an emergency, such as an accident, natural disaster, or terrorist attack. The United States First Responder Network Authority (FirstNet) was created as an independent authority with a purpose to establish an interoperable public safety broadband network. $7 billion and 20 MHz of valuable radio spectrum to build the network has been allotted by Congress to build this Radio Access Network.

FirstNet will be built with, and be operated under, AT&T with their ever developing 3G/4G/5G networks. For the sake of public safety, the network is being built to migrate first responders away from two-way radio networks towards cellular networks. This is going to require all first responders to upgrade their hardware to cellular devices which can provide push-to-talk, video, data, and other device applications.

Siyata Mobile Inc. (TSXV: SIM | OTCQX: SYATF) is the leading provider and pioneer of in-vehicle communication devices that includes the Uniden ® UV350 in-vehicle mounted phablet (phone/tablet). The device is now FirstNet Ready™, having been tested and approved for use with services on the FirstNet communications platform.

In what can be regarded as only the beginning of a massive rollout of hardware, there are 3.5 million first responder vehicles that have yet to upgrade to the FirstNet SIM card network and associated device. This will give Siyata Mobile a very large addressable market for devices just in the US. With much more on-board technology than a single purpose land mobile radio device, the Uniden UV350 NextGen Vehicle Communicator is the only dedicated in-vehicle cellular device on the market.

Bob Sloan, Chief Operating Officer, FirstNet program at AT&T stated: “The more tools public safety has access to on their network, the more we can help them achieve their mission. We are happy to be the first U.S. cellular carrier to launch Uniden’s NextGen Vehicle Communicator. We believe it will be an excellent answer for both existing and newly migrating FirstNet subscribers seeking an in-vehicle communication device.”

The FirstNet communications platform has surpassed the half million mark, with 600,000+ device connections being used by more than 7,250 public safety agencies. The majority of agencies and nearly 50% of FirstNet’s total connections are new subscribers. The 3.5 million first responder vehicles that need to migrate to the new upgraded system could possibly end up being the USA’s largest fleet connected by radio access network devices.

In a move that can only benefit Siyata Mobile, AT&T has been deploying 5G across many US cities in 2019. Siyata is already making plans for when the time is ready to switch to the new 5G technology. The next generation 5G device will build a powerful pipeline of product offerings for commercial fleets, vehicles and first responders for the next ten years.

The endorsement from The First Responders to Siyata Mobile is indeed a very big deal. It means Siyata Mobile is now endorsed to a potential 3.5 million new customers.

Siyata’s strong relationship with AT&T and The First Responders will see Siyata’s sales soar in 2019 and beyond. Prior to this recent contract analyst’s were forecasting Siyata’s revenue to grow from C$14.2m in 2018 to C$40.2m by 2020. This may now look conservative.

Siyata Mobile Inc. is based in Montreal, Canada and has a market cap of C$ 51.7 million.

Siyata Mobile is forecast to grow revenue by 280%, and is tapping a potential market size of US$13b

The commercial fleet market is going to be one of the big winners when 5G is fully deployed as AT&T continues its “5G Evolution” technology roll-out to more than 200 markets across the USA.

Siyata Mobile Inc. (TSXV: SIM | OTCQX: SYATF) is a pioneer in the field by providing specialized connected vehicle products for professional fleets. Marketed under the Uniden® Cellular brand, Siyata launched the world’s first 4G LTE all-in-one fleet communications device in 2018; incorporating voice, push-to-talk over cellular, data, and fleet management solutions into a single device. This also makes their devices safer as no longer is there a need on a driver’s dash for any other devices. Siyata’s customer base includes cellular operators, commercial vehicle technology distributors; and fleets in Canada, the U.S., Europe, Australia, and the Middle East.

The potential market size for Siyata’s products just in North America is US$13 billion. As one of the only companies to develop and sell a smartphone that is dedicated to commercial vehicles, Siyata will be targeting a market of ~14 million commercial and first responder vehicles just in the US.

Siyata Mobile teams up with AT&T and FirstNet

Already public information, Siyata Mobile is going to be launching their products with the AT&T Network and also with FirstNet, the First Responders Network. These two networks alone offer a multi-billion-dollar opportunity for the Company. There is a great significance with the AT&T network launch as it will allow Siyata to eventually upscale to the faster 5G network, thus enabling greater ease of access and communications speeds. 5G offers service providers not only greater speeds, but an uncluttered network, for example, 4G can handle 4,000 devices a square km, whereas 5G can handle one million devices a square km.

Siyata Mobile to grow as 5G grows

Siyata will continue its 5G development of in-vehicle offerings in preparation for future 5G technology demands. The Company’s intention is to complement the 4G/LTE UV350 hands-free device, offering a strong variety of cutting-edge product offerings. With 5G networks launched nationwide in North America, the Company aims to provide an in-vehicle 5G solution to meet the coming demand as it arises. By doing this they are future tech ready as well as remaining pioneers in the commercial fleet industry. The rollout of 5G should help Siyata Mobile.

Siyata Mobile’s flagship product is the Uniden® UV350 fleet communication device

The Uniden® UV350 fleet communication device sits in a category of its own in offering clutter free dashboards. The UV350 provides an all-in-one device providing a cell phone, a 2-way radio communications device, data, fleet management, dash cam, and a GPS navigation system all in one device. The Company also offers rugged handheld phones for industrial users as well as signal boosters for homes, buildings, and fleets with poor cell coverage. An example of ‘rugged” is the newly launched 4G/LTE UR7 rugged handset, that also folds up like a clamshell to fit in your pocket.

Marc Seelenfreund, CEO and Chairman of Siyata Mobile Inc. said: “We have created a new category within the cellular device community. We are the first company to have developed a smartphone that is dedicated to commercial vehicles. It is a device that gives the ultimate communication for commercial vehicles.”

The Uniden® UV350 fleet communication device

Keeping your eyes on the road and your hands on the wheel

Due to declining revenues in the Company’s 3G legacy product sales, the Company will move to a 4G/ LTE dominant product focused portfolio with both the Uniden® UV350 and 4G/LTE. These variants are expected to dominate the Company’s sales in 2019.

Ahead of the game and true pioneers in the commercial fleet industry, Siyata Mobile Inc., a venture top 50 company, has a big future with its cellular all in one device in the commercial fleet industry. Two networks alone are offering a multi-billion dollar opportunity, as is the potential to supply ~14 million commercial vehicles just in the US. Added to this will be global sales and once released customers upgrading to get the latest 5G Uniden® UV350 device.

Siyata Mobile’s revenue is forecast to more than triple from C$14.2m in 2018 to C$54m in 2019. That’s a 280% forecast revenue growth rate. The Company is expected to become profitable in later 2019 or early 2020.