Siyata Mobile Posts Record Quarter of $5.2MM in Revenue, Positive EBITDA, Record North American Sales

Siyata Mobile (TSXV:SIM) has announced it has filed its Q2 2017 financial results.
As quoted in the press release:

Highlights

• Q2 2017 revenue of ~$5.2MM versus ~$2MM in Q2 2016, a ~150% increase in sales over Q2 2016;
• Adjusted EDITBA of $157K for Q2 2017 versus negative $210K for Q2 2016
• Record North American sales of $1.2MM in Q2 2017 versus $344K in Q2 2016, a 271% increase over Q2 2016 NA Sales;
• Gross margin for Q2 was $1,408K (27.16% of Sales) versus Q2 2016 gross margin of $485K (24.17% of Sales), a 190% increase over Q2 2016;
• Working capital of $8.4MM as of June 30, 2017, and an additional ~$3.5MM received from exercise of warrants in July.

Marc Seelenfreund, CEO and Chairman of Siyata Mobile, commented, “We are very pleased with our Q2 results and continued strong growth. The Company had record sales in North America for the quarter as we are focused on this large-scale market opportunity with a mission to be the dominant player in the connected in-vehicle space. We believe that the addition of our next generation products recently announced will allow us to continue growing rapidly.”

Click here to read the full press release.