August 29, 2017
The innovative Uniden® portfolio continues to bring strong growth profile in the connected in-vehicle market
Montréal, QC – Siyata Mobile Inc. (TSX-V:SIM | OTCQX: SYATF) (the “Company” or “Siyata”) is pleased to announce it has filed its Q2 2017 financial results and will hold a conference call on Wednesday August 30th, 2017 at 9:00AM EST.
- Q2 2017 revenue of ~$5.2MM versus ~$2MM in Q2 2016, a ~150% increase in sales over Q2 2016;
- Adjusted EDITBA of $157K for Q2 2017 versus negative $210K for Q2 2016
- Record North American sales of $1.2MM in Q2 2017 versus $344K in Q2 2016, a 271% increase over Q2 2016 NA Sales;
- Gross margin for Q2 was $1,408K (27.16% of Sales) versus Q2 2016 gross margin of $485K (24.17% of Sales), a 190% increase over Q2 2016;
- Working capital of $8.4MM as of June 30, 2017, and an additional ~$3.5MM received from exercise of warrants in July.
Marc Seelenfreund, CEO and Chairman of Siyata Mobile, commented, “We are very pleased with our Q2 results and continued strong growth. The Company had record sales in North America for the quarter as we are focused on this large-scale market opportunity with a mission to be the dominant player in the connected in-vehicle space. We believe that the addition of our next generation products recently announced will allow us to continue growing rapidly.”
The Company will hold a conference call on Wednesday, August 30, 2017, at 9:00 a.m. Eastern
Time (6:00 a.m. PST), to discuss its recent Q2 financial results along with an investor call with Marc
Seelenfreund, CEO and Chairman of Siyata Mobile.
Details of the conference call:
Date: Wednesday, August 30, 2017
Time: 9:00 a.m. Eastern Time
North America dial-in number: 1-877-291-4570
International dial-in number: 1-647-788-4919
There will also be a playback of the conference call, available in MP3 format.
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.
Visit www.siyatamobile.com and http://www.unidencellular.com/ to learn more.
On Behalf of the Board of Directors of:
SIYATA MOBILE INC.
Glenn Kennedy, VP Sales
Siyata Mobile Inc.
PCG Advisory Group:
Kirin Smith, Chief Operating Officer
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.