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Siyata Mobile Second Quarter 2024 Earnings: Misses Expectations
Siyata Mobile (NASDAQ:SYTA) Second Quarter 2024 Results
Key Financial Results
- Revenue: US$1.89m (down 30% from 2Q 2023).
- Net loss: US$12.9m (loss widened by 454% from 2Q 2023).
- US$119 loss per share.
All figures shown in the chart above are for the trailing 12 month (TTM) period
Siyata Mobile Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 37%. Earnings per share (EPS) also missed analyst estimates by 169%.
Looking ahead, revenue is forecast to grow 53% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Communications industry in the US.
Performance of the American Communications industry.
The company's shares are down 37% from a week ago.
Risk Analysis
Before we wrap up, we've discovered 3 warning signs for Siyata Mobile that you should be aware of.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
About NasdaqCM:SYTA
Siyata Mobile
Engages in the development and sale of cellular-based communications platform in the United States, Canada, Europe, Australia, the Middle East, and internationally.
High growth potential with adequate balance sheet.