BOSTON - Siyata Mobile Inc. (NASDAQ:SYTA/SYTAW), a provider of Push-to-Talk over Cellular (PoC) devices, today announced the availability of its next-generation SD7 Ultra series 5G mission-critical push-to-talk (MCPTT) cellular radio handsets on T-Mobile's 5G network, which is touted as the largest in the nation.
The SD7 Ultra series is designed to offer public safety officials advanced radio communications across the United States through T-Mobile's direct connect platform. These devices are equipped with applications intended to improve operational efficiency and response times during emergencies.
Marc Seelenfreund, CEO of Siyata Mobile, stated that the SD7 Ultra series 5G cellular radio handsets are the future of mission-critical cellular devices for first responders. He emphasized the importance of reliable communication systems and expressed confidence that the combination of Siyata's devices with T-Mobile's 5G network will provide a robust solution for emergency services.
The SD7 Ultra-5G and SD7 Ultra S-5G models are rugged Android-based PTT devices that promise superior sound quality and durability. They also offer the benefits of 5G connectivity, with the SD7 Ultra S-5G model featuring a 4" LCD front touchscreen.
Siyata Mobile specializes in B2B next-generation PoC devices and cellular booster systems for enterprise and first responder use. Its products are designed to facilitate instant communication over cellular networks to improve situational awareness and potentially save lives. The company's products are also aimed at amplifying cellular signals in challenging environments, such as remote areas, inside structures with weak signals, and within vehicles.
The company's common shares and previously issued warrants are traded on the Nasdaq stock market under the symbols "SYTA" and "SYTAW," respectively.
This announcement is based on a press release statement from Siyata Mobile Inc. and contains forward-looking statements that are subject to risks and uncertainties. These statements are not guarantees of future performance, and actual results may differ materially from those projected.
InvestingPro Insights
As Siyata Mobile Inc. (NASDAQ:SYTA/SYTAW) launches its next-generation SD7 Ultra series on T-Mobile's 5G network, investors may be interested in additional financial insights. According to InvestingPro data, Siyata's market capitalization stands at $3.19 million, reflecting its current position in the competitive telecommunications equipment market.
Despite the company's innovative product offerings, InvestingPro Tips highlight some financial challenges. Siyata is currently not profitable over the last twelve months, with a negative P/E ratio. This aligns with the company's focus on growth and product development in the rapidly evolving 5G space.
Revenue for the last twelve months as of Q2 2023 was $7.97 million, with a concerning year-over-year revenue decline of 13.31%. This decrease in revenue, coupled with the InvestingPro Tip indicating that the company is quickly burning through cash, suggests that Siyata may face financial pressures as it seeks to establish its position in the 5G market.
On a positive note, analysts anticipate sales growth in the current year, which could be driven by the launch of products like the SD7 Ultra series. Additionally, Siyata holds more cash than debt on its balance sheet, potentially providing some financial flexibility as it pursues its growth strategy.
For investors considering Siyata Mobile, it's worth noting that InvestingPro offers 15 additional tips that could provide further insights into the company's financial health and market position. These additional tips could be particularly valuable given the company's recent product launch and its efforts to capitalize on the expanding 5G market.
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