The following is a summary of the Siyata Mobile Inc. (SYTA) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Siyata Mobile reported a Q3 2024 revenue of $5.9 million, a 218% increase year-over-year from $1.8 million in Q3 2023, and a 210% increase from $1.9 million in Q2 2024.

• Gross margin percentage rose to 29% in Q3 2024 from 26.6% in Q3 2023, with gross margin dollars growing from $500,000 to $1.7 million.

• SG&A expenses increased by $2 million, primarily due to marketing expenses, while adjusted EBITDA was negative $3.3 million, a $1.8 million increase in losses compared to Q3 2023.

• Working capital decreased from $1.3 million to $200,000 as of the end of Q3 2024.

Business Progress:

• Siyata Mobile is experiencing solid demand for its SD7 handset and accessories.

• Launching a 5G product portfolio in 2025 with T-Mobile as the first carrier.

• Seeing rapid adoption of their PTT product portfolio.

Opportunities:

• Plans for launching an innovative 5G product portfolio in 2025.

• Positive outlook from the current rapid adoption of their unique PTT product portfolio.

Risks:

• Significant increase in SG&A expenses primarily due to increased marketing spends impacting profitability.

• Negative variance in adjusted EBITDA points to challenges in managing operational costs.

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