Curated News
By: NewsRamp Editorial Staff
November 22, 2024

Siyata Reports Record Third Quarter Revenue Amid Strong US Demand

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Source News Release

TLDR

  • Siyata Mobile Inc. reported triple-digit revenue growth in the third quarter, driven by booming demand for its rugged devices.
  • PTToC technology provides instant communication, wider nationwide coverage, and cost efficiencies for first responders, miners, and security professionals.
  • Siyata's PTToC devices and cellular booster systems enable first responders and enterprise workers to enhance communication, increase situational awareness, and save lives.
  • The market is undergoing a shift from LMR systems to PTToC technology, with Siyata's SD7 rugged handset driving growth and delivering crystal-clear audio quality.

Impact - Why it Matters

This news matters as it highlights the transformative impact of PTToC technology on the land mobile radio market and the significant growth opportunities for companies like Siyata. The company's success and dealmaking with T-Mobile US demonstrate the increasing demand for its rugged devices, signaling a potential shift away from traditional land mobile radio systems.

Summary

The land mobile radio market is getting an overhaul thanks to push-to-talk over cellular (PTToC) technology. Siyata Mobile Inc. (NASDAQ: SYTA) is at the forefront of this shift, reporting record revenue growth in the third quarter, driven by booming demand for its rugged devices. The company is also making deals with major players like T-Mobile US (NASDAQ: TMUS) for its 5G mission-critical push-to-talk cellular radio handsets.

With the market forecast to grow at a CAGR of 11% until 2030, reaching $68.94 billion, Siyata is well-positioned to capitalize on the rapid adoption of its disruptive solutions. The company's goal of achieving profitability in the coming quarters is a testament to the significant momentum it is building, especially in the U.S. market.

Source Statement

This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Siyata Reports Record Third Quarter Revenue Amid Strong US Demand

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