The following is a summary of the Siyata Mobile Inc. (SYTA) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Siyata reported a decrease in Q4 revenues to $1.9 million, largely due to a drop in booster sales despite increased sales from mission-critical SD7 handsets and accessories.

• US revenue rose to account for 67% of total revenue in 2023, up from 59% in 2022.

• Rugged device sales showed a marked increase, rising to $6 million in 2023, up by $2.1 million from the previous year.

• Gross margin percentage for Q4 2023 stood significantly higher at 46.2% compared to 8.1% in Q4 2022.

• Adjusted EBITDA improved to negative $2.3 million in Q4 2023 from negative $5 million the previous year.

• SG&A expenses were down to $3 million in Q4 2023, a $1million decrease from Q4 2022.

• For the full financial year of 2023, total revenue saw a growth of 27% hitting $8.2 million, up from $6.5 million in 2022.

Business Progress:

• Siyata is seeing increased adoption of its critical communication devices in both the U.S. and overseas markets, reaching key sectors including public safety, education, healthcare, security, and hospitality.

• It successfully penetrated the market of the four biggest U.S. carriers – AT&T (including FirstNet), Verizon, T-Mobile, and UScellular.

• To cater to customer and wireless carrier feedback, Siyata is developing an impressive 5G rugged handset portfolio set to be unveiled soon.

• In June 2023, they launched Siyata Real Time View, an innovative real-time camera system for first responder and enterprise vehicles.

• For 2024, Siyata's aim is a notable increase in revenue, with sights set on breaching the breakeven point and achieving profitability in the upcoming quarters.

More details: Siyata Mobile IR

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