Siyata Mobile Reports Revenue of $4.85MM in Q3 2017, a 30% Increase Over Q3 2016 GlobeNewswire
MONTRÉAL, Oct. 10, 2017 (GLOBE NEWSWIRE) — Siyata Mobile Inc. (the “Company” or “Siyata“) (SIM.V) (SYATF) is pleased to announce it has posted sales of $4.85MM CDN in revenue for Q3 2017. This represents a 30% YoY increase over the Company’s Q3 2016 sales of $3.7MM CDN and a slight 6% decrease over Q2 2017, mostly due to the Canadian dollar strength over the US dollar.
Marc Seelenfreund, CEO and Chairman of Siyata Mobile, stated, “This has been our strongest year to date with $14.85 million in the first nine months, a 78% increase over the first nine months of 2016. We are in a very favorable position to end the year strong, and are focused to take full advantage of our large-scale markets in 2018 with the launch of our various next generation 4G products at Tier 1 carriers around the globe.”
According to the United States Department of Transportation, in 2015 there were over 12 million fleet vehicles in the United States. Siyata aims to be the leading provider of connected vehicle and mobile hardware solutions as these commercial fleets upgrade their communication platforms to be compatible with next generation networks, PoC solutions and other software applications.
The Company will announce its Q3 results before the end of November 2017.
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.
On Behalf of the Board of Directors of:
SIYATA MOBILE INC.
CEO and Director
Glenn Kennedy, VP Sales
Siyata Mobile Inc.
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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.