Siyata Mobile Announces Fourth Quarter and Year-End 2020 and First Quarter 2021 Financial Results and Conference Call
Siyata Mobile Inc. (NASDAQ: SYTA, SYTAW) (“Siyata” or the “Company”), a global vendor of Push-to-Talk over Cellular (PoC) devices and cellular booster systems, announced its financial results for the three and twelve months ended December 31, 2020 and for the three months ended March 31, 2021. All amounts are in US dollars unless otherwise indicated.
Key financial highlights for the twelve months ended December 31, 2020 include the following:
- Revenue was $6.0 million compared to $9.8 million for the same period the previous year. This negative variance of $3.8 million (-39%) is due mainly to a $4.7 million year-over-year decrease in sales in Israel and EMEA offset by an $800,000 increase in North American revenue.
- Gross margin for the year ended December 31, 2020, was 26.4% compared to 27.4% last year.
- Net loss was $13.6 million compared to a net loss of $7.7 million for the same period the previous year, a negative variance of $5.9 million.
- Adjusted EBITDA was ($7.1) million versus ($4.2) million for the same period in the previous year, a negative variance of $2.9 million.
Investor Conference Call
Siyata will host a conference call on July 1, 2021 at 8:30 a.m. (ET) to discuss its financial results for the three and twelve months ended December 31, 2020 and for the three months ended March 31, 2021. The call will be hosted by Marc Seelenfreund, President and Chief Executive Officer, Gerald Bernstein, Chief Financial Officer, Daniel Kim, Vice President of Corporate Development and Glenn Kennedy, VP of International Sales. All interested parties are invited to participate using the dial-in details provided below.
Date and Time: July 1, 2021 at 8:30 a.m. (ET)
Dial-in Number: 1-866-777-2509 or 1-412-317-5413