Earlier this week, Siyata Mobile Inc. (TSX-V:SIM | OTCQX: SYATF) posted its Q3 2017 results, with the company generating EBITDA of $98,000 on revenue of $4.9-million, a topline that was up 32% over the same period last year. In an article by Cantech Letter, it notes an update to clients from Beacon Securities analyst, Gabriel Leung.
Please find an excerpt, and a link to the full article below.
Caption: Uniden® U7 HULK Clamshell Device
Leung notes that Siyata’s sales figures are still mainly driven by it legacy devices. He thinks that when its 4G/LTE UV350, which is still in device approval phase, is ready to go it could be a considerable driver of revenue and gross margin.”
“Bottom-line, we believe the Q3 results represented another good quarter of organic growth,” the analyst says. “We believe this pace of growth could be sustained over the near-to-mid-term as the company continues to execute on its partner strategy, particularly for its new 4G products with its North American cellular operator and other partners.”