Siyata Mobile $SIM.V $SIMFF Posts Record Quarter

Siyata Mobile Inc, who recently announced that the Staples Canada website was onboarding the full booster portfolio and Uniden U620 rugged phone line, are celebrating a record quarter worth noting. The company had revenues of $4.9 mill, and gross margins of 27% of sales for Q1 2017, with more highlights below:

Highlights

  • Q1 2017 revenue of ~$4.9MM versus ~$2.7MM in Q1 2016, an ~80% increase in sales over Q1 2016;
  • Adjusted EDITBA of $163K for Q1 2017 versus $28K for Q1 2016, a 482% increase over Q1 2016;
  • North American sales of $927K in Q1 2017 versus $42K in Q1 2016, due to Signifi acquisition and increasing dealership and sales channels;
  • Gross margin for Q1 was $1,321K (27% of Sales) versus Q1 2016 gross margin of $575K (21.1% of Sales), a 130% increase over Q1 2016;
  • $8.2M in working capital as of March 31, 2017.

Siyata, featured in April on the Syndicate, has had a series of contract announcements evidencing their growing leadership in the cellular booster and truck phone markets. Big names, such as Staples, Rogers, Visions Electronics, and other sizeable contract announcements, are proof that this business is at an early and exciting stage in the adoption process.

Siyata’s UV350 is compatible with FirstNet, the US nationwide broadband network for first responders. Their cellular boosters have a wide retail application for homes, cabins and cars, with the industrial quality of the boosters allowing the company to target numerous verticals in the industrial and commercial markets. In North America, 75 million homes and commercial buildings experience dropped calls and slow download speeds- Siyata has a lot to chew on for this large scale market. For more information on their innovative product lines, visit their website. The market cap as at today is approximately $41.5 million.

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~ Disclaimer ~

This is not in any way investment advice nor any sort of stock recommendation. Please do your own due diligence and talk to a qualified investment advisor.

The contents of this article are for informational purposes only.  Nothing in this article, in any way whatsoever, should be considered implicit or explicit investment advice. Nothing contained herein is a recommendation or solicitation to buy, hold or sell any security. Note the inherent risks when investing in microcap stocks. Prior to making any investment decision, we recommend that you seek outside advice from a qualified and registered investment advisor.

Siyata Mobile Inc. is not a client nor an advertiser. One or more of the Stock Syndicate owners does own shares in Siyata Mobile Inc.

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