Financial Performance - Full-year 2023 revenue reached $8.2 million, representing a 27% increase year-over-year from $6.5 million in 2022[4] - Gross margin improved significantly to 32.3% for the full year 2023, up from 21.4% in 2022[14] - Net loss for the full year 2023 was $12.9 million, an improvement from a net loss of $15.2 million in 2022[5] - Adjusted EBITDA for the full year 2023 was negative $7.8 million, compared to negative $12.6 million in the prior year[5] - Revenue for Q4 2023 was $1.9 million, a decrease from $2.1 million in Q4 2022[5] Cash and Working Capital - The company had a cash balance of $0.9 million and working capital of $1.3 million as of December 31, 2023, down from $1.9 million and $1.6 million, respectively, in 2022[6] Business Development - The company is experiencing growing demand for its SD7 PTT handsets as customers transition from legacy LMR devices to PTT solutions[2] - Siyata Mobile is focused on ramping sales aggressively and aims to reach profitability in the coming quarters[2] - The company has a healthy pipeline of new business opportunities with large-scale potential customers in the final stages of device trials[2] - The company achieved 'stocked status' with two of the largest U.S. cellular carriers, with a third expected imminently[2]
SIYATA MOBL.EQ.WARRT(SYTAW) - 2023 Q4 - Annual Report