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.

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.

Siyata’s UV350 allows drivers to “keep their eyes on the road and hands on the wheel”

3G, 4G, and in some places already 5G operate on a Radio Access Network (RAN). These are the same networks that wireless radios operated on, but at a much lower frequency and range. 5G promises mobile speeds comparable to fiber and in some cases maybe faster, but it’s not over for 4G yet. 5G is a pure mobile internet platform that will one day make cables, switches, routers and expensive infrastructure obsolete. Operating within the Internet of Things both 4G and 5G users will be able to connect directly to other users, creating greater communications in a much larger Peer to Peer (P2P) network.

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 professional fleets. The Company’s flagship product the Uniden® UV350 is the first 4G/LTE all-in-one in vehicle fleet communication device that eliminates the need for other devices cluttering a fleets dashboard specifically for commercial vehicles ensuring safer communication for professional drivers. Built specifically for the needs of first responder and commercial fleet vehicles, the UV350 allows drivers to keep their eyes on the road and hands on the wheel.

Siyata Mobile is already developing a 5G dedicated “in-vehicle” smartphone for commercial fleets and vehicles. This device is to compliment the 4G/LTE UV350, allowing for a strong variety of cutting-edge product offerings.

Marc Seelenfreund, CEO of Siyata Mobile states: “Our seven years of experience in working with commercial vehicle customers and cellular operators gives us strong competitive edge in knowing our customers’ form factor and technology needs, while understanding the stringent requirements to have a carrier grade approval. 5G technology has a very exciting future and we plan to be first to market with a 5G dedicated in-vehicle device.”

The commercial vehicle market is among the many industries expected to benefit from the improved connectivity of 5G networks and the Internet of things.

Being ahead of the game is bringing Siyata Mobile much success having delivered on its first purchase order through a Tier 1 cellular operator to a Canadian transportation company in January 2019. Siyata Mobile’s success blends over to their 3G portfolio as they announced in February 2019 Siyata will be supplying various departments of the RCMP (Royal Canadian Mounted Police) in the Atlantic region of Canada, with its UCP100 in-vehicle cellular device and accessories.

Marc Seelenfreund, CEO states: “Over $65 million in sales of our 3G portfolio demonstrates, we are a highly trusted enterprise solution for First Responders, Government Agencies, and commercial fleets around the world”.

On April 1, 2019 Siyata Mobile announced a significant milestone for the Company in receiving its first purchase order from a Tier 1 US Cellular Carrier, for its flagship Uniden® UV350.

Marc Seelenfreund, CEO continued: “Siyata is not only first to market but has created a completely new device category. The UV350 represents a completely untapped yet equal opportunity which meets the needs of First Responder and commercial vehicles around the world and we are excited to be included in the ranks of the leading global cellular vendors.”

A TSX Venture Top 50 Company, Siyata Mobile Inc. continues to be a pioneer in fleet communications for enterprise customers, with its Uniden® UV350, the first 4G/LTE all-in-one in vehicle fleet communication device that delivers crystal clear cellular voice calls, Push-to-Talk Over Cellular, data applications and more.

5G is nearly here and Siyata are already in the planning stages to keep on top of changing technology with 5G, adding value to both the Company and investors.