Control to Host Convention Name at 8:30 a.m. ET on Friday, August 16

VANCOUVER, BC, Aug. 15, 2024 /PRNewswire/ — Siyata Cell Inc. (Nasdaq: SYTA) (“Siyata” or the “Company“), an international developer and dealer of Push-to-Communicate over Mobile (PoC) handsets and equipment, nowadays introduced its monetary effects for the 3 months ended June 30, 2024.

Marc Seelenfreund, CEO of Siyata, mentioned, “Second quarter revenue growth was tempered in large part due to the timing of the delivery of customer orders. However, we have a backlog of more than $7 million of confirmed orders, which gives us strong visibility into the second half of 2024. As such, we expect the third quarter will be a break-out quarter with high double digit year-over-year growth as the delivery of orders accelerates. We have achieved ‘stocked’ status for our SD7 handsets with four of the largest North American cellular carriers and continue to tap into new vertical markets reinforcing a growth trajectory that extends into 2025 and beyond.”

Key monetary highlights for the 3 months ended June 30, 2024:

• Revenues had been $1.6 million in comparison to $2.7 million for the 3 months ended June 30, 2023.
• Rude benefit of ($144,000), or -8.9% of earnings, in comparison to $804,000, or 29.7% of earnings, in the similar length ultimate age, essentially because of a one-time closely discounted transaction to a global reseller which we imagine will undoubtedly have an effect on earnings in 2d part of 2024.
• Web loss was once $12.9 million as in comparison to a internet lack of $2.3 million in the similar length within the prior age, essentially because of a non money popularity of the diversities between truthful worth of capital raises in comparison to money won for the purpose of a $6.7 million spare loss, in addition to a $1.0 million loss because of transaction prices incurred for the financings and $2.0 million of promoting prices on investor consciousness of our Corporate.
• Adjusted EBITDA was once ($3.8 million), as opposed to ($2.0 million) within the prior age.

Liquidity and Capital Assets

As of June 30, 2024, the Corporate had a money steadiness of $2.7 million in comparison to $0.9 million as of December 31, 2023.

Throughout the second one quarter, the corporate closed two society choices of regular stocks and/or pre-funded warrants to buy regular stocks for improper proceeds of roughly $10 million in mixture.

Convention Name Main points

The Corporate will host a convention name at 8:30 a.m. ET on Friday, August 16, 2024 to talk about its 2d quarter 2024 monetary effects.

Age: Friday, August 16, 2024
Life: 8:30 a.m. Jap Life/5:30 a.m. Pacific Life
North The usa dial-in quantity: 888-506-0062
Global toll-free dial-in quantity: 973-528-0011
Get right of entry to Code: 922573

A replay will probably be to be had till August 30, 2024. To get entry to the replay, dial +1 (877) 481-4010 or +1 (919) 882-2331. When brought about, input Passcode 51033.

The decision may also be to be had over the Web and out there at: https://www.webcaster4.com/Webcast/Page/2988/51033

About Siyata Cell

Siyata Cell Inc. is a B2B world developer and dealer of next-generation Push-To-Communicate over Mobile handsets and equipment. Its portfolio of rugged PTT handsets and equipment allows first responders and venture staff to right away keep in touch over a national mobile community of selection, to extend situational consciousness and save lives. Police, hearth, and ambulance organizations in addition to faculties, utilities, safety corporations, hospitals, misuse control corporations, motels and plenty of alternative organizations worth Siyata PTT handsets and equipment nowadays.

In aid of our Push-to-Communicate handsets and equipment, Siyata additionally do business in enterprise-grade In-Car answers and Mobile Booster methods enabling our consumers to keep in touch successfully when they’re of their cars, or even in farmlands the place the mobile sign is susceptible.

Siyata sells its portfolio thru well-known North American mobile carriers, and thru global mobile carriers and vendors.

Siyata’s regular stocks business at the Nasdaq beneath the logo “SYTA”.

Discuss with www.siyata.net and unidencellular.com to be told extra.

Ahead Taking a look Statements

This press let go comprises forward-looking statements inside the that means of the “safe harbor” provisions of the Personal Securities Litigation Reform Business of 1995 and alternative Federal securities regulations. Phrases akin to “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and related expressions or diversifications of such phrases are supposed to spot forward-looking statements. As a result of such statements offer with hour occasions and are in accordance with Siyata’s tide expectancies, they’re topic to numerous dangers and uncertainties and fresh effects, efficiency, or achievements of Siyata may just fluctuate materially from the ones described in or implied via the statements on this press let go. The forward-looking statements contained or implied on this press let go are topic to alternative dangers and uncertainties, together with the ones mentioned beneath the heading “Risk Factors” in Siyata’s filings with the Securities and Change Fee (“SEC”), and in any next filings with the SEC. Apart from as differently required via legislation, Siyata undertakes deny legal responsibility to publicly let go any revisions to those forward-looking statements to mirror occasions or cases nearest the moment hereof or to mirror the prevalence of unanticipated occasions. References and hyperlinks to internet sites and social media were equipped as a comfort, and the ideas contained on such internet sites or social media isn’t included via reference into this press let go. 

— Tables Apply —

SOURCE Siyata Cell Inc.