Siyata Mobile integrates Zello app in SD7 handsets

VANCOUVER - Siyata Mobile Inc. (NASDAQ:SYTA, SYTAW), specializing in Push-to-Talk over Cellular (PoC) devices, announced today that Zello's push-to-talk app is now available on their SD7 handsets. This integration aims to enhance communication for first responders and enterprise workers globally.

The collaboration between Siyata and Zello is expected to extend the market reach of Siyata's devices, as stated by CEO Marc Seelenfreund. Zello's app, popular among the first responder community, is known for its reliability and clarity in communications. The SD7 handset, noted for its ruggedness and versatility, coupled with Zello's scalable platform, is poised to serve public safety, security, hospitality, and transportation sectors effectively.

Recent purchases of the Siyata SD7 handsets by Westchester County, NY, for use with Zello, underscore the product's relevance in operational settings. Lieutenant Brian Hess (NYSE:HES) of Westchester County Police expressed satisfaction with the handset's performance in maintaining effective communication for the county's needs.

Evan Shegoski of River Road Rescue Squad in New Jersey also endorsed the integration, highlighting the cost-efficiency and the potential scalability of the combined solution over multiple regions. Shegoski emphasized the advantages of the SD7 and Zello partnership over traditional Land Mobile Radio (LMR) systems, particularly in terms of cost and ongoing support.

Zello, a leading voice-first communication platform, boasts over 175 million registered users and is recognized for its high uptime and ease of use. Siyata Mobile Inc. caters to a broad range of organizations, providing PoC handsets and accessories that facilitate instant communication across cellular networks.

In other recent news, Siyata Mobile has been involved in several significant developments. The company recently announced a strategic investment in Canadian Towers & Fiber Optics Inc., a firm that constructs and manages telecom infrastructure in Mexico's rapidly growing telecommunication sector. This partnership is expected to create new avenues for Siyata to advance its sales initiatives.

Siyata Mobile has also secured a US patent for its VK7 Vehicle Kit, a mobile conversion apparatus designed for docking cellular data devices. Additionally, the company unveiled an enhanced version of its SD7 Wired Palm Mic Pro, which incorporates advanced AI noise cancellation technology aimed at improving communication clarity in loud environments.

The company recently reported receiving orders worth over $2.2 million for its SD7 handsets and accessories, indicating growing adoption in the US and international markets. Furthermore, Siyata Mobile priced a public offering of $4 million in common shares and/or pre-funded warrants to purchase common shares at $1.30 per share.

The proceeds are intended for use as working capital, general corporate purposes, payments for marketing and advertising services, and potential future acquisitions.

InvestingPro Insights

Following the announcement of the integration between Siyata Mobile Inc.'s SD7 handsets and Zello's push-to-talk app, the market is closely observing the company's financial health and stock performance. According to InvestingPro data, Siyata Mobile Inc. has a market capitalization of just over $1 million, with a significant revenue growth of 17.94% over the last twelve months as of Q1 2024. This growth is bolstered by a quarterly revenue growth of 30.8% in Q1 2024, indicating a positive trend in the company's sales.

Despite these encouraging signs of growth, the company's stock has experienced high price volatility, with an 11.98% return over the last week, yet a dramatic 48.73% decline over the last month. This volatility is reflected in the stock's price performance, which has plummeted by 98.58% over the last year. The current price/book ratio of 0.14 suggests the stock is trading at a low valuation relative to its book value, which could interest value investors.

InvestingPro Tips highlight that analysts anticipate sales growth in the current year for Siyata Mobile Inc., which could align with the company's strategic partnership with Zello and the potential market expansion. Additionally, the Relative Strength Index (RSI) suggests the stock is in oversold territory, potentially indicating a buying opportunity for investors. For those looking to delve deeper into Siyata's financials and stock performance, InvestingPro offers additional insights and tips. There are 18 more InvestingPro Tips available for Siyata Mobile Inc. at https://www.investing.com/pro/SYTA, which can be accessed with the use of coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.

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