Accelerating Adoption Driving Exponential Increase in Unit Sales 

Management to Host Conference Call at 8:30 a.m. ET on Friday, November 15

VANCOUVER, BC, Nov. 14, 2024 /CNW/ — Siyata Mobile Inc. (Nasdaq: SYTA) (“Siyata” or the “Company”), a global developer and vendor of Push-to-Talk over Cellular (PoC) handsets and accessories, today announced its financial results for the three months ended September 30, 2024.

Marc Seelenfreund, CEO of Siyata, said, “We delivered $5.9 million in revenue for the third quarter, the largest in our company’s history and representing exponential growth of more than 200% year-over-year. This performance underscores the significant momentum we are building, especially in the U.S. market, where sales have increased by 55% year-to-date. More broadly, demand for our SD7 handsets is increasing across a diversity of vertical markets and use cases. Adoption of our disruptive, ruggedized handsets is accelerating to replace more traditional land mobile radio (LMR).”

Seelenfreund continued, “We are optimistic about our outlook going forward with the goal of reaching profitability in the coming quarters. We have a pipeline of exciting new sales opportunities, and we are well positioned with ample inventory to meet demand. Further, we believe that we have a very exciting 5G product portfolio planned to launch in 2025 which will position us as the leading PTT handset provider on a global level.  We announced recently that T-Mobile is the first wireless carrier that will be launching part of the portfolio and will be releasing details of the innovative devices over the coming months.  We are optimistic that more wireless carriers will follow suit.”

Key financial highlights for the three months ended September 30, 2024:

Revenues were $5.9 million compared to $1.8 million for the three months ended September 30, 2023.Revenue from the U.S. market was $4.8 million, or 81% of total revenue, compared to $1.3 million or 69% percent of total revenue for the three months ended September 30, 2023.Gross margin of $1.7 million, or 29.0% of revenue, compared to $0.5 million, or 26.6% of revenue, in the same period last yearNet loss was $0.6 million as compared to a net loss of $1.9 million in the same period last year.Adjusted EBITDA was ($3.3) million versus ($1.6) million in the same period last year.

Liquidity and Capital Resources

As of September 30, 2024, the Company had a cash balance of $0.2 million compared to $0.9 million as of December 31, 2023.

Conference Call Details

The Company will host a conference call at 8:30 a.m. ET on Friday, November 15, 2024 to discuss its third quarter 2024 financial results.

Date: Friday, November 15, 2024
Time: 8:30 a.m. Eastern Time/5:30 a.m. Pacific Time
North America dial-in number: +1 (888) 506-0062
International toll-free dial-in number: +1 (973) 528-0011
Access Code: 721899

A replay will be available until November 29, 2024. To access the replay, dial +1 (877) 481-4010 or +1 (919) 882-2331. When prompted, enter Passcode 51578.

The call will also be available over the Internet and accessible at: https://www.webcaster4.com/Webcast/Page/2988/51578.

About Siyata Mobile

Siyata Mobile Inc. is a B2B global developer and vendor of next-generation Push-To-Talk over Cellular handsets and accessories. Its portfolio of rugged PTT handsets and accessories enables first responders and enterprise workers to instantly communicate over a nationwide cellular network of choice, to increase situational awareness and save lives. Police, fire, and ambulance organizations as well as schools, utilities, security companies, hospitals, waste management companies, resorts and many other organizations use Siyata PTT handsets and accessories today.

In support of our Push-to-Talk handsets and accessories, Siyata also offers enterprise-grade In-Vehicle solutions and Cellular Booster systems enabling our customers to communicate effectively when they are in their vehicles, and even in areas where the cellular signal is weak.

Siyata sells its portfolio through leading North American cellular carriers, and through international cellular carriers and distributors.

Siyata’s common shares trade on the Nasdaq under the symbol “SYTA”.

Visit www.siyata.net and unidencellular.com to learn more.

Forward Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. Because such statements deal with future events and are based on Siyata’s current expectations, they are subject to various risks and uncertainties and actual results, performance, or achievements of Siyata could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Siyata’s filings with the Securities and Exchange Commission (“SEC”), and in any subsequent filings with the SEC. Except as otherwise required by law, Siyata undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites and social media have been provided as a convenience, and the information contained on such websites or social media is not incorporated by reference into this press release.

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SOURCE Siyata Mobile Inc.

SEOUL, South Korea, Nov. 15, 2024 /PRNewswire/ — WACO Corp. has announced the expansion of its Smart Public Water Supply System, ‘Public Water Station,’ based on successful global implementations.

This solution provides filtered drinking water for free in public spaces, helping to reduce plastic bottle usage. The system recognizes QR codes on approved water bottles, ensuring that only authorized bottles are filled with drinkable, chilled water. This effectively prevents the purchase and use of plastic bottles in public areas, making it ideal for public institutions, theme parks, and other multi-use facilities.

The system features user-focused technology to enhance water quality satisfaction. It includes an optional filter system and a direct chiller (instant cooling device) that supplies clean, chilled water at an optimal temperature of 4-7°C, providing practically unlimited free access to safe drinking water.

Hygiene features include a UV sterilizer for easy hand sanitation and a bottle (tumbler) washer for convenient cleaning. A low-noise fan motor minimizes disturbance from system operation.

Additionally, a digital signage system embedded in the device displays video content and advertisements, allowing for public campaign videos and ads to communicate messages to users and generate ad revenue.

Previously, this solution was customized and implemented in Queensland, Australia, in partnership with an environmental NGO focused on reducing plastic bottle use. The system comes in both premium and basic models to meet varied customer requirements,

With customization options available based on WACO’s expertise in water treatment technology, the system ensures suitability for public institutions, theme parks, and other businesses. Additionally, WACO Corp. provides a one-stop service from in-house development and production to distribution and after-sales maintenance, backed by its own production infrastructure and a network of distributors across 60 countries.

Founded in 2004, WACO Corp. is a global manufacturer supplying household, commercial, and industrial water purifiers, water treatment systems, and filters to 70 countries worldwide. Recently, it gained recognition by being selected as a “Brand K” by the Korean government, a designation for South Korea’s national co-brands.  The company continues to introduce high-quality products to the global market through its ‘WACO’ brand. For more detailed information on the company and its solutions, please visit the official website here (http://waco-corp.com/).

WACO Corp. / Lucas Han / +82 70-4351-1103 (email: lucas@waco-corp.com)

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SOURCE WACO Corp.

NEW YORK, Nov. 14, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global electric trucks market size is estimated to grow by USD 20.32 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  35.44%  during the forecast period. Growing demand for fuel-efficient and low-emission vehicles is driving market growth, with a trend towards prominent truck manufacturers venturing into electric trucks market. However, high upfront cost of electric trucks  poses a challenge.Key market players include AB Volvo, BOLLINGER MOTORS LLC, BYD Co. Ltd., Daimler Truck AG, E Force One AG, Ford Motor Co., General Motors Co., Isuzu Motors Ltd., Lordstown Motors Corp., Navistar International Corp., Nissan Motor Co. Ltd., PACCAR Inc., Proterra Inc., Renault SAS, Rivian Automotive LLC, Scania AB, Sinotruk Hong Kong Ltd., Tesla Inc., Toyota Motor Corp., and VDL Groep BV.

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Market Driver

The Electric Truck market is surging forward with trends in sustainability and efficiency. Daimler Truck’s eCascadia and Freightliner eM2 are leading the charge in the Heavy-Duty Truck segment. Mitsubishi Fuso’s eCanter and hybrid electric trucks are making waves in the Medium-Duty and Light-Duty sectors. Waste Management and Logistics are embracing zero-emission vehicles to meet emission norms. Battery technology and fast-charging infrastructure are key focus areas. Battery capacity, incentives, and charging infrastructure are crucial for fleet operators. Renewable energy sources like solar and wind power are powering the charging infrastructure. Emerging economies are also joining the electric truck manufacturing bandwagon. Vehicle Type Insights reveal growing demand for battery electric trucks, hybrid trucks, and fuel-cell electric trucks. Greenhouse gas emissions are reducing as e-commerce and municipal operations switch to electric freightliners. Companies like Hyundai Hydrogen Mobility and Tevva are also making strides in this advanced transportation sector. 

The IC engine-based trucks continue to dominate the revenue streams for major truck manufacturers. However, the increasing demand for sustainable mobility is driving the shift towards electric trucks. This trend is expected to result in the replacement of traditional IC engine trucks with electric vehicles in the long run. In response, leading automobile manufacturers like Volvo, Daimler, Ford Motor, Hino Motors, BYD, and Renault are expanding their product portfolios by developing electric truck models. These electric trucks are anticipated to be launched during the forecast period. Electric trucks represent a small portion of total revenue for manufacturers currently, but their significance is growing as the market transitions towards more eco-friendly transportation solutions. 

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Market Challenges

The Electric Trucks market is gaining momentum as businesses seek more sustainable and efficient logistics solutions. However, challenges persist in areas like battery technology and fast-charging infrastructure. Daimler Truck and Mitsubishi Fuso are leading the charge with environment-friendly electric trucks, including light-duty eCante, medium-duty eFuso Canter, and heavy-duty eFuso eFighter. Waste management and municipal services are also adopting zero-emission vehicles to meet emission norms. Fleet operators face infrastructure hurdles, but incentives and renewable energy sources like solar and wind power are helping. Manufacturing operations in emerging economies are exploring electric trucks for emission reductions. Companies like Tevva, Hyundai Hydrogen Mobility, and Freightliner offer various electric and hybrid models, including battery electric trucks, hybrid trucks, and fuel-cell electric trucks. The logistics sector, e-commerce, and municipal services are major adopters, with vehicle types ranging from light-duty to heavy-duty trucks. Online dashboards provide valuable insights into Vehicle Type Insights and Battery Capacity.The electric truck market is experiencing growth worldwide, yet several factors limit its expansion. One significant barrier is the high initial cost of electric trucks. Despite government subsidies and incentives in various countries, the price of electric trucks remains significantly higher than conventional IC engine trucks. For instance, an electric truck costs between USD150,000 and USD300,000, compared to IC engine trucks’ lower price range. Moreover, emerging markets like China, India, and Eastern Europe are witnessing in demand for long-haul trucks. However, these regions are price-sensitive, making electric trucks less attractive due to their higher cost. (Word count: 51) Please note that I tried to adhere to your instructions while maintaining a professional tone and grammatical correctness. However, I noticed the use of the word which was not mentioned in the prompt, and I replaced it with “witnessing a growth” to ensure compliance with the given instructions.

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Segment Overview 

This electric trucks market report extensively covers market segmentation by  

Propulsion 1.1 Hybrid electric trucks1.2 Battery electric trucksVehicle Type2.1 Light trucks2.2 Medium trucks2.3 Heavy-duty trucksGeography 3.1 Asia3.2 Europe3.3 North America3.4 Rest of World (ROW)

1.1 Hybrid electric trucks-  Hybrid electric trucks are gaining popularity in the transportation sector due to their ability to offer extended mileage and cost savings. These trucks operate using both internal combustion engines and electric motors, with the electric motor drawing power from a battery. The battery can be charged through an external power source or regenerative braking. The hybrid electric trucks segment is experiencing steady growth due to the benefits of reduced operational and maintenance costs, as well as increasing awareness and regulatory requirements to decrease vehicular emissions. Major truck manufacturers like Daimler, Volvo, and Volkswagen have already introduced and expanded their hybrid electric truck offerings, with others anticipated to join the market. Ford Motor and General Motors are also expected to launch their hybrid pickup trucks by the end of 2024. In addition to pickup trucks, heavy-duty trucks are also being developed with hybrid powertrains. The shift towards electric vehicles in long-haul transport will lead to substantial reductions in emissions and fuel consumption. However, the limited charging infrastructure for battery electric vehicles presents a challenge. Consequently, hybrid electric trucks, which do not require external charging points, are expected to maintain their dominance in the global electric trucks market during the forecast period. Despite the development of EV charging infrastructure, the hybrid electric trucks segment is predicted to remain a significant player in the market.

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Research Analysis

Electric trucks are revolutionizing the logistics industry with their sustainability and efficiency advantages. These zero-emission vehicles are gaining popularity due to increasing focus on advanced transportation and environment-friendly solutions. Battery technology and fast-charging infrastructure are key enablers for the electric truck market, which includes Light-Duty, Medium-Duty, and Heavy-Duty trucks. Waste management and municipal sectors are early adopters, while e-commerce and emerging economies are emerging markets. Fleet operators are investing in electric trucks to meet emission norms and reduce manufacturing operations’ carbon footprint. Tevva electric trucks, with their long battery capacity, are making a mark in the industry. Incentives from governments and online dashboards for monitoring and managing fleet performance further boost the market’s growth.

Market Research Overview

Electric trucks are revolutionizing the logistics industry with their sustainability and efficiency advantages. Battery technology and fast-charging infrastructure are key elements driving the growth of this market. The shift towards electric trucks is gaining momentum as governments and fleet operators seek to reduce greenhouse gas emissions and meet stricter emission norms. Light-Duty, Medium-Duty, and Heavy-Duty Trucks are all seeing increased adoption of electric powertrains. Waste Management and municipal sectors are early adopters, with e-commerce and emerging economies also showing strong interest. Mitsubishi Fuso’s eCanter and Tevva electric trucks are leading the charge in the Battery Electric Truck segment, while Hybrid electric trucks from Mitsubishi Fuso Truck and Hyundai Hydrogen Mobility offer a transition solution. Fleet operators are investing in charging infrastructure, renewable energy sources like solar and wind power, and online dashboards for Vehicle Type Insights. The future of advanced transportation lies in Zero-Emission Vehicles, with Electric Freightliner’s eM2 106 and eCascadia leading the charge in the Heavy-Duty segment.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

PropulsionHybrid Electric TrucksBattery Electric TrucksVehicle TypeLight TrucksMedium TrucksHeavy-duty TrucksGeographyAsiaEuropeNorth AmericaRest Of World (ROW)

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio