Q2 2024 Siyata Mobile Inc Earnings Call Transcript
Key Points
- Strong demand from wireless carriers and distributors, with an order backlog of over $7 million.
- Revenue in Q3 2024 is expected to be significantly higher than Q2 2024.
- Tangible rapid adoption of the unique PTT product portfolio across various sales channels.
- Integration of SD7 handset with leading global push-to-talk application Zello, leading to meaningful sales.
- Expansion of the sales team with experienced personnel, such as Bob Escalle, enhancing product strategy and sales opportunities.
- Revenue decreased to $1.9 million in Q2 2024 from $2.7 million in Q2 2023.
- Gross margin percentage dropped to 10.4% in Q2 2024 from 29.7% in Q2 2023.
- SG&A expenses increased to $4 million in Q2 2024 from $2.7 million in Q2 2023.
- Adjusted EBITDA for Q2 2024 was negative $3.8 million compared to negative $2 million in Q2 2023.
- Working capital as of June 30, 2024, was negative $8.3 million, a significant decrease from $1.3 million as of December 31, 2023.
Good morning, ladies and gentlemen, and welcome to the Siyata Mobile Q2 2024 conference call. At this time, all lines are in a listen-only mode. This call is being recorded on Friday, August 16, 2024.
I would now like to turn the conference over to Glenn Kennedy, Vice President of International Sales. Please go ahead.
Thank you for joining the Siyata Mobile second-quarter 2024 conference call. Today, I'm joined by our CEO, Marc Seelenfreund.
During this call, management will make expressed and implied forward-looking statements within the Private Securities Litigation Reform Act of 1995 and other US federal securities laws. These forward-looking statements include, but are not limited to, those statements regarding future product offerings, the belief that we are on the path for strong organic growth, the goal to deliver strong year-over-year revenue growth and reach profitability in the coming quarters, the belief that we will continue to see strong sales
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
