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Siyata Mobile (SYTA)
NASDAQ:SYTA
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Siyata Mobile
(NASDAQ:SYTA)
39Underperform
Positive Factors
Growth Strategy
Management reiterates goal for strong growth and profitability in the coming quarters, aiming to grow revenue aggressively in 2024 and reach breakeven status on a quarterly basis.
Strategic Partnerships
Siyata Mobile has strong relationships with major carriers such as T-Mobile, AT&T, Verizon, and UScellular, recently achieving 'stocked status,' which supports sell-through with subsidies and aggressive pricing options.
Negative Factors
Financial Performance
SYTA reported 4Q24 results with revenue significantly lower than estimates, and an adjusted EBITDA loss wider than expected, indicating financial challenges.
Liquidity Concerns
There are continued concerns regarding liquidity and potential further dilution, which contribute to maintaining a Hold rating due to balanced risk/reward.
Revenue Uncertainty
Given limited visibility into timing of contracts and the upcoming merger, revenue estimates for 2025E have been lowered, reflecting uncertainty in financial performance.
Siyata Mobile (SYTA) vs. S&P 500 (SPY)
Market Cap
$6.97M
Dividend YieldN/A
Average Volume (3M)6.75M
Price to Earnings (P/E)―
Beta (1Y)0.74
Revenue Growth33.58%
EPS Growth81.58%
CountryUS
Employees23
SectorTechnology
Sector Strength76
IndustryCommunication Equipment
Share Statistics
EPS (TTM)-2.35
Shares Outstanding3,016,519
10 Day Avg. Volume19,698,253
30 Day Avg. Volume6,750,134
Financial Highlights & Ratios
PEG Ratio-3.85
Price to Book (P/B)6.10
Price to Sales (P/S)0.00
P/FCF Ratio-0.12
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusHold
Number of Analyst Covering1
Siyata Mobile Business Overview & Revenue Model
Company DescriptionSiyata Mobile Inc. develops and provides cellular communications solutions for enterprise customers. It provides connected-vehicle devices and various accessories that are designed for professional fleets, such as trucks, vans, buses, ambulances, government cars, and others. The company also develops, markets, and sells rugged Push-To-Talk (PTT), mobile devices, cellular amplifiers, and various accessories. In addition, it offers 4G LTE devices, such as Uniden UV350 and Uniden CP250, in-vehicle communication devices that incorporate voice, push-to-talk over cellular, navigation, and data fleet management solutions. Further, the company provides cellular booster solutions, such as Uniden U60C 4G and U65C 4G to enhance connectivity; Uniden U70 FN for inside buildings, Uniden UM50 FN for inside vehicles, and the Uniden UM2M FN that can connect to its Uniden UV350 in vehicle communicator; Uniden Mobile Coverage Kit; Mission Critical Push-To-Talk device; and Vehicle Kit 7, a vehicle kit accessory that provides an in-vehicle solution. It serves cellular network operators and their dealers, as well as commercial vehicle technology distributors for fleets in Israel, Europe, Africa, the Middle East, Australia, New Zealand, Canada, and the United States. The company was incorporated in 1986 and is headquartered in Montreal, Canada.
How the Company Makes MoneySiyata Mobile generates revenue through the sale of its communication devices and solutions, which include in-vehicle cellular devices and signal boosters. The company's products are distributed through various sales channels, including partnerships with wireless carriers, industrial equipment distributors, and direct sales to enterprises and government agencies. Additionally, Siyata Mobile may leverage strategic partnerships to expand its market reach and enhance its product offerings, contributing to its overall revenue. The company's earnings are driven by the demand for reliable and efficient communication solutions in sectors such as transportation, logistics, and public safety.
Siyata Mobile Financial Statement Overview
Summary
Siyata Mobile faces significant financial challenges. Although there's revenue growth, substantial operating losses and negative cash flows highlight financial instability. The company's reliance on external financing to sustain operations poses risks, signaling the need for strategic adjustments to improve profitability and cash flow management.Income Statement
Siyata Mobile's income statement reveals significant challenges. The TTM data shows a negative net profit margin of -168.6%, indicating substantial losses relative to revenue. The gross profit margin is 19.6%, showing some ability to cover direct costs, but the EBIT and EBITDA margins are deeply negative at -109.7% and -139.1%, respectively. Revenue growth is positive at 45.6% from 2022 to 2023, but this is offset by increasing net losses.30
Negative
Balance Sheet
The balance sheet highlights financial instability with a debt-to-equity ratio of 0.40, showing moderate leverage. However, the return on equity (ROE) is negative at -204.3%, reflecting heavy losses against shareholders' equity. The equity ratio is reasonable at 51.1%, suggesting some asset financing via equity. Overall, financial health is weak due to high losses.40
Negative
Cash Flow
Cash flow analysis shows severe challenges, with negative free cash flow growth and negative operating cash flow. The operating cash flow to net income ratio is 0.78, indicating the net income losses reflect cash flow issues. The company is heavily reliant on financing activities to cover cash deficiencies.35
Negative
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 11.99M | 8.23M | 6.48M | 7.55M | 5.99M | 9.97M | Gross Profit |
| 2.35M | 2.66M | 1.39M | 1.87M | 1.58M | 2.52M | EBIT |
| -13.15M | -11.36M | -15.68M | -10.76M | -7.33M | ― | EBITDA |
| -16.68M | -11.04M | -19.34M | -17.42M | -11.64M | -5.53M | Net Income Common Stockholders |
| -20.21M | -12.93M | -9.94M | -25.31M | -15.34M | ― |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 585.56K | 898.77K | 1.91M | 1.62M | 5.47M | 2.65M | Total Assets |
| 14.31M | 15.51M | 16.14M | 12.05M | 31.09M | 16.08M | Total Debt |
| 3.23M | 2.20M | 939.00K | 4.39M | 7.05M | 5.46M | Net Debt |
| 2.64M | 1.30M | -974.74K | 2.77M | 1.58M | 2.80M | Total Liabilities |
| 7.28M | 5.81M | 6.90M | 9.56M | 9.81M | 7.63M | Stockholders Equity |
| 7.03M | 9.71M | 9.24M | 2.49M | 21.28M | 8.45M |
| Cash Flow | Free Cash Flow | ||||
| -17.16M | -10.62M | -17.27M | -15.56M | -11.52M | ― | Operating Cash Flow |
| -15.81M | -8.34M | -13.85M | -12.57M | -9.99M | ― | Investing Cash Flow |
| -2.64M | -2.27M | -3.56M | -3.12M | -1.53M | ― | Financing Cash Flow |
| 18.39M | 9.60M | 17.57M | 1.01M | 25.35M | 9.62M |
Siyata Mobile Technical Analysis
Positive
2.31
Price Trends
1.67
Positive
3.40
Negative
8.67
Negative
Market Momentum
-0.05
Negative
66.79
Neutral
38.64
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SYTA, the sentiment is Positive. The current price of 2.31 is above the 20-day moving average (MA) of 1.23, above the 50-day MA of 1.67, and below the 200-day MA of 8.67, indicating a neutral trend. The MACD of -0.05 indicates Negative momentum. The RSI at 66.79 is Neutral, neither overbought nor oversold. The STOCH value of 38.64 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SYTA.
Siyata Mobile Risk Analysis
Siyata Mobile disclosed 67 risk factors in its most recent earnings report. Siyata Mobile reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Siyata Mobile Peers Comparison
Overall Rating
UnderperformOutperform
Sector (60)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
60 Neutral | $11.59B | 10.39 | -7.23% | 2.94% | 7.46% | -10.76% | |
51 Neutral | $5.78M | ― | -21.35% | ― | -4.85% | 43.93% | |
49 Neutral | $11.62M | ― | -137.03% | ― | 47.05% | -22.31% | |
43 Neutral | $3.83M | ― | -97.40% | ― | -29.78% | 45.35% | |
42 Neutral | $6.50M | ― | -933.63% | ― | 72.95% | 74.56% | |
39 Underperform | $6.97M | ― | -400.46% | ― | 33.58% | 81.58% | |
37 Underperform | $8.37M | ― | -322.86% | ― | -37.74% | -79666.67% |
* Technology Sector Average
Performance Comparison
SYTA
Siyata Mobile
2.31
-366.69
-99.37%
BOXL
Boxlight
1.72
-1.63
-48.66%
SONM
Sonim Technologies
0.91
-4.41
-82.89%
MITQ
Moving iMage Technologies
0.58
0.08
16.00%
ASNS
Actelis Networks, Inc.
0.72
0.21
41.18%
MOB
Mobilicom Ltd. ADR
1.70
0.73
75.26%
Siyata Mobile Earnings Call Summary
Earnings Call Date:May 15, 2025
(Q3-2024)
| % Change Since: 75.00%|
Next Earnings Date:Aug 14, 2025
Earnings Call Sentiment Neutral
The earnings call reported significant revenue growth and a strong performance in the U.S. market, alongside an optimistic outlook with the upcoming 5G product launch. However, increased expenses, negative EBITDA, and decreased working capital present challenges. The positive revenue achievements are somewhat offset by financial strains.Q3-2024 Updates
Positive Updates
Record Revenue Growth
Revenue for Q3 2024 was $5.9 million, a 218% increase compared to $1.8 million in Q3 2023 and a 210% increase from $1.9 million in Q2 2024. This was the strongest revenue quarter ever in the company's history.
U.S. Market Dominance
Revenue from the U.S. market was $4.8 million, representing 81% of total revenue, compared to $1.3 million or 69% of total revenue in Q3 2023.
Increase in Gross Margin
Gross margin percentage for Q3 2024 was 29%, up from 26.6% in Q3 2023. Gross margin dollars rose from $500,000 to $1.7 million, a $1.2 million positive variance.
Strong Product Demand
Increased demand for the SD7 handset and accessories contributed significantly to the revenue growth.
5G Product Portfolio Launch
An exciting 5G product portfolio is planned for launch in 2025, with T-Mobile already set to launch part of this portfolio.
Negative Updates
Increased SG&A Expenses
SG&A expenses were $4.7 million in Q3 2024, up from $2.7 million in Q3 2023, primarily due to marketing expenses related to investor awareness.
Negative Adjusted EBITDA
Adjusted EBITDA for Q3 2024 was negative $3.3 million compared to negative $1.6 million in Q3 2023, a $1.8 million negative variance driven by increased marketing expenses.
Decrease in Working Capital
Working capital as of September 30, 2024, was $200,000, down from $1.3 million as of December 31, 2023, a decrease of $1.1 million.
Slight Decrease in Gross Margin Percentage
Gross margin percentage for the 9 months ended September 30, 2024, was 27.3%, down from 28.2% in the same period of 2023, a decrease of 0.9%.
Company Guidance
During the Siyata Mobile Third Quarter 2024 earnings call, significant financial metrics were highlighted. The company reported a revenue of $5.9 million for Q3 2024, marking a 218% increase from $1.8 million in Q3 2023. The U.S. market contributed $4.8 million, or 81% of the total revenue, up from $1.3 million, or 69%, in the previous year. Gross margin improved to 29% from 26.6% in Q3 2023, with gross margin dollars increasing by $1.2 million to $1.7 million. However, SG&A expenses rose to $4.7 million, a $2 million increase, largely due to marketing for investor awareness. The adjusted EBITDA was negative $3.3 million, a $1.8 million decline from Q3 2023. Working capital decreased to $200,000 by September 30, 2024, from $1.3 million at the end of 2023. For the first nine months of 2024, total revenue reached $10.1 million, a $3.8 million increase from the same period in 2023, while gross margin dollars rose by $1 million to $2.8 million. Despite these challenges, the company remains optimistic about future growth, driven by the adoption of their PTT product portfolio and the upcoming launch of their 5G products.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.