Siyata Mobile (NASDAQ: SYTA) stock is on a bullish run, with shares higher by over 73% YTD following a near 11% spike on Wednesday. To those following SYTA, the move is not surprising. In fact, many will argue the jump is well-deserved from being on time to capitalize on a more than $20 billion market opportunity. But more than "on-time," SYTA supporters point to the company doing things differently than its competitors, with 21st-century technology providing more than a competitive advantage, it can make them a global leader in an already substantial and fast-growing Push-to-Talk Over Cellular (PoC) sector. (* YTD price % change calculation taken January 1, 2023 - January 18, 2023, $0.15 - $0.26. Daily % change calculation from January 17, 2023 - January 18, 2023, $0.23 - $0.255, Yahoo! Finance, 15:02 EST.)

Siyata provided proof that that mission is gaining traction. On Wednesday, SYTA announced it has received follow-on orders from an existing Saudi Arabian cellular carrier client for its Uniden® UV350, a 4G/LTE all-in-one in-vehicle communication device. Siyata noted that the expected purchases will add $400,000 in revenues from selling its high-performing UV350 devices to equip an expanding fleet of emergency response vehicles. Perhaps more importantly to those appraising the SYTA value proposition is that the follow-on orders validate the value of SYTA's devices and strengthen future revenue-generating opportunities from this particular client, who has invested more than $1.7 million in the company's UV350 and related accessories.

But they aren't the only clients contributing to SYTA's impressive revenue growth. By leveraging existing 4G/LTE infrastructure, Siyata products are attracting diverse market and client attention by being designed specifically for commercial vehicles to facilitate safer communication for drivers enduring high-risk situations where reliable communications are critical.

Video Link: https://www.youtube.com/embed/bSrm4XOtMoU

Better Products Attract More Clients

Thus, seeing the growth trajectory at SYTA steepen is not surprising. On the product's front, its Uniden® UV350 is the world's first and only known FirstNet ReadyTM approved in-vehicle mounted push-to-talk over cellular "phablet" (a mobile device combining or straddling the size formats of smartphones and tablets) designed specifically for commercial vehicles to ensure safer communication. Still, while its adoption is making headlines, it's just one component in a product portfolio disrupting the multi-billion-dollar Land Mobile Radio (LMR) industry. And as demand for cost-effective, reliable Push-to-Talk Over Cellular (PoC) devices continues to increase from both enterprise and government entities, revenue growth is likely a trend that will continue.

That includes the contributions expected from its SD7, an easy-to-use, purpose-built, highly functional, and rugged Android-based design. Like the UV350, it's also attracting client interest and earning praise for its robust IP68-rated design that protects against dust and debris, making it the only known push-to-talk device meeting the needs of especially rigorous field use applications. More importantly, it provides excellent noise-reducing sound quality that allows for clear communication, a benefit typically not inherent to the current generation of rugged smart and feature phones. 

That means most competing products can't do what SYTA's can, and, more importantly, from an investor's perspective, adds to a massive revenue-generating opportunity already in SYTA's crosshairs.

Targeting A $20 Billion, And Growing, Rev-Gen Opportunity

There's better news. The $20 billion market is what's been in play for 2022. Estimates into this year, and the next few, more than double the market size, with analysts modeling market opportunity at over $50 billion in the North American markets alone. Put another way: SYTA is in the right markets at the right time. And, just as significantly, it has the right products to target revenues from several of the most potentially lucrative categories in the PoC industry, including advanced rugged smartphones, in-vehicle mounted IoT cellular communications devices, cellular signal boosters for global first responders, and channel relationships allowing SYTA to market devices with international cellular carriers and distributors who sell to their enterprise customers. 

That focus, combined with strategic moves made in 2022, could be the driving force in taking share from the industry's most prominent LMR players like Motorola Solutions Inc. (NYSE: MSI), L3Harris Technologies Inc. (NYSE: LHX), and overseas brands such as JVCKenwood Corp. (TSE: 6632) and Hytera Communications Corp (SZSE: 002583). Third-quarter numbers indicate that's happening, and better still, show that SYTA's revenue surge could be the precursor to better things as SYTA continues to aggressively capitalize upon PoC market opportunities with disruptive solutions that are accretive to growth by maximizing synergies that use the same core channels and service the same customers. But efficient growth is just one attractive feature of SYTA. 

Another attraction is that no known competitor offers a similarly comprehensive portfolio of products. That distinction is an advantage that accelerates SYTA's plan to penetrate the PoC markets by targeting an expanding client list of global and national carriers that are appreciably receptive to the breadth of its single-vendor asset portfolio. But clients shouldn't be the only ones appreciative of the service synergies; investors should be too, especially as they help revenues accrue and, as important, fall faster to the bottom line by way of simplified integration processes.

A 588% Surge In Comparative Revenues

That's evident in the 588% spike in Q3 comparatives, which may further benefit in Q4 and 2023 from an expanding product lineup. While SYTA's UV350 and SD7 are formidable PoC assets, so is its VK7: a first-in-class, in-car solution that pairs with its SD7. Like the SD7, the VK7's strength is its unique design, which includes connections to vehicle power, an integrated 10W speaker, a simple Slide-In connection, and internal active cooling. Additionally, the kit has a modularity that allows for the integration of multiple accessory solutions. 

Still, excellent products are only as valuable as the markets they serve and the demand they get from them. Siyata expects plenty, and not from unwarranted expectations. Instead, SYTA is made confident through a product lineup able to overcome the limitations of traditional LMR services, which can include limited coverage, restricted voice and low-capacity functionality, and high start-up and tower maintenance costs. Those inefficiencies, while bad news for the competing brands that sell them are excellent motivators supporting SYTA's growth. 

So is the fact that as a first-to-market provider replacing decades-old technology with a 21st-century solution, SYTA is ideally positioned to capitalize on multiple high-dollar market opportunities utilizing walkie-talkie-like technology that benefits users by having an unlimited coverage range. That distinction, combined with the technology's other features, opens the door to mass sales - which the channel relationships mentioned earlier can make happen. Go to any significant cellular service provider and check the inventory for sale. Those are examples of channel relationships, which, by the way, SYTA is scoring. 

Inking Deals With Major Carriers

In November, SYTA announced inking a deal with Bell Mobility Inc. to launch its rugged SD7 device onto their network in the fourth quarter of 2022. The opportunity could be a windfall for SYTA, noting it facilitates SYTA tapping into Bell Mobility's leading wireless operator position and more than 10 million subscribers. As a division of Bell Canada, that deal could be the first of several, each bringing significant new revenue opportunities. That's not the only near-term value driver.

In December, SYTA announced adding RadioTrader, the UK and Ireland's premier two-way radio supplier, to distribute the ruggedized, mission-critical SD7 PoC device and VK7 vehicle kit accessory. That deal is expected to attract business from a wide variety of industries that rely on RadioTrader and its over 20 years of industry experience for two-way radio solutions. Moreover, the addition of SYTA's SD7 device and VK7 vehicle kit validates the quality of SYTA products and, more importantly, could provide fuel to score considerable near-term sales. 

Remember that SYTA offers more than innovative, well-built devices. The inherent strength is that they operate over 4G LTE networks, enabling consistent domestic and international connectivity to facilitate messaging, one-to-one, or one-to-many instant call communications. In addition, running on the high bandwidth 4G LTE network also supports data-intensive services such as pictures, video, and a host of other third-party applications. 

There's still more benefit, perhaps the most significant being that SYTA's client list can grow appreciably and quickly without needing to invest in infrastructures such as radio towers or repeaters. That's potentially excellent news on the revenues front, made even better by Siyata's lean operating structure helping those gains fall faster toward the bottom line. 

Momentum Behind Recent Rally

And by SYTA doing the right things at the right time, impressive growth in 2022 may pale to what's in store for 2023 as SYTA leverages its leading global vendor position for next-generation Push-To-Talk over Cellular devices and cellular booster systems. Deals announced with some of the world's largest carriers support that presumption. 

Still, it's not only what's been announced that's driving investors to the SYTA value proposition; it's what they are doing now that is attracting a surge of attention and exposing a valuation disconnect even after its 2023 bull run, which may be too wide to ignore. Obviously, demand for shares indicates that many aren't, and with SYTA continuing its pace of announcing accretive revenue-generating deals, the disconnect between share price and performance could close quickly. With the add-on orders and market share growth serving as validators, that's more than likely; it's probable. 

In other words, growth stock investors may want to pay attention to the opportunity sooner than later.

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