# CHAI earnings call intelligence LOPJLB CallCard / temporal rollup · freemium · [stock page](https://www.lopjlb.com/stock/CHAI) · [Earnings tab](https://www.lopjlb.com/stock/CHAI?tab=earnings) Updated: 2026-08-17T09:46:55 Quarters analyzed: 8 ## Cross-quarter narrative From 2022 Q2 through 2024 Q3, Siyata Mobile transitioned from early SD7 rugged handset ramp with carrier approvals and trial conversion lags to broad stocked status across four North American carriers and a $5.9M quarter. Revenue grew from $970k to a peak $5.9M, though with volatility: a dip in 2023 Q3 during carrier stock-status transition and again in 2024 Q2 due to working capital constraints. Product portfolio expanded from SD7 to SD7+ (body camera, Visual Labs partnership), Real Time View video monitoring, VK7 vehicle kit, UV350 in-vehicle device, cellular boosters, and a 5G rugged handset portfolio slated for 2025 with T-Mobile. Gross margin swung from pressured low‑margin legacy mix (8.1% in Q4 2022) to 46.2% in Q4 2023, then compressed to 10.4% on a one‑time reseller deal before recovering to 29% in 2024 Q3. Capital raises ($4M in 2022 Q3, $3.6M warrants in 2023 Q1, factoring facility) and recurring working capital pressure (negative $8.3M in 2024 Q2, $200K in 2024 Q3) underscore reliance on external financing. Carrier concentration remains high (FirstNet, Verizon, AT&T ## Latest CallCard · Q3 Siyata Mobile reports strongest quarter ever with $5.9M revenue (+218% YoY), driven by SD7 handset demand; reiterates profitability goal; 5G portfolio launch with T-Mobile in 2025. **Guidance:** maintained — Reiterated goal of strong revenue growth and profitability in coming quarters; no specific numeric guidance provided. **Tone:** mgmt 0.7 · Q&A pressure 0 · divergence 0.2 Management highlights strongest revenue quarter ever, 218% YoY growth, rapid adoption of PTT portfolio, upcoming 5G product launches with T-Mobile, and reiterates goal of profitability in coming quarters. ### Demand visibility Strong demand for SD7 handset and accessories; rapid adoption of PTT portfolio across sales channels; T-Mobile committed to launching 5G portfolio in 2025. Q3 revenue $5.9M, up 218% YoY; US revenue $4.8M (81% of total); inventory available to fulfill demand; seeing tangible rapid adoption across sales channels; T-Mobile first carrier for 5G portfolio launch. ### Margins / costs Gross margin improved to 29% from 26.6% YoY; gross margin dollars up $1.2M; SG&A increased $2M due to investor awareness marketing; adjusted EBITDA widened to -$3.3M. Gross margin % 29% vs 26.6% Q3 2023; gross margin dollars $1.7M vs $0.5M; SG&A $4.7M vs $2.7M, increase primarily marketing for investor awareness; adjusted EBITDA -$3.3M vs -$1.6M; nine-month gross margin % slightly down 0.9% to 27.3%. ### Capital allocation Working capital decreased to $200K from $1.3M; excluding non-cash liabilities, working capital stable at ~$1.3M; increased marketing spend for investor awareness. Working capital $200K at Sep 30 2024 vs $1.3M at Dec 31 2023; excluding non-cash warrants and preferred share liabilities, working capital $1.3M vs $1.4M; SG&A increase driven by marketing expenses for investor awareness. ### Milestones - **SD7 handset and accessories sales** [on_track]: Strong demand and inventory fulfillment driving revenue growth. - **PTT product portfolio adoption** [on_track]: Seeing tangible rapid adoption across various sales channels. - **5G product portfolio launch 2025** [new]: Planned launch in 2025 to position as leading PTT handset provider globally. - **T-Mobile carrier launch** [on_track]: First wireless carrier to launch part of 5G portfolio; details coming over coming months. - **Additional carrier adoption** [new]: Optimistic more wireless carriers will follow T-Mobile. - **Profitability goal** [on_track]: Stand by previously stated goal of strong revenue growth with profitability in coming quarters. ### Fears / risks - **Forward-looking statement risk**: Forward-looking statements subject to inherent uncertainties, risks and changes in circumstances difficult to predict. - **Working capital decline**: Working capital decreased $1.1M to $200K at Sep 30 2024 vs Dec 31 2023. - **Widening negative EBITDA**: Adjusted EBITDA negative $3.3M vs negative $1.6M YoY, $1.8M negative variance mostly from marketing expenses. - **Carrier adoption dependence**: Growth reliant on wireless carriers adopting 5G PTT portfolio; only T-Mobile committed so far. - **Rising SG&A from marketing**: SG&A increased $2M primarily due to marketing expenses for investor awareness. - **Nine-month gross margin compression**: Gross margin percentage declined 0.9% to 27.3% for nine months ended Sep 30 2024 vs same period 2023. ### Key quotes > “This was the strongest revenue quarter ever in the history of our company.” > “We are also extremely excited with our sales outlook going forward as we are now seeing tangible rapid adoption of our unique PTT product portfolio across our various sales channels.” > “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.” > “T-Mobile is the first wireless carrier that will be launching part of this portfolio and will be releasing details of the innovative devices over the coming months.” > “We stand by our previously stated goal of strong revenue growth with a goal of profitability in the coming quarters.” ## Quarter one-liners - **2024 Q3:** Siyata Mobile reports strongest quarter ever with $5.9M revenue (+218% YoY), driven by SD7 handset demand; reiterates profitability goal; 5G portfolio launch with T-Mobile in 2025. - **2024 Q2:** Siyata Mobile Q2 revenue fell to $1.9M due to working capital constraints, but $7M+ backlog and carrier stock positions drive optimism for H2 growth and profitability goal. - **2023 Q4:** Siyata Mobile reports 27% revenue growth, gross margin expansion to 32.3%, SD7 handset launches across all major US carriers with stocked status, 50k+ unit sales funnel, and targets aggressive 2024 growth to quarterly breakeven. - **2023 Q3:** Siyata Mobile Q3 revenue fell to $1.8M due to carrier stock-status transition; 9-month revenue up 45% to $6.4M; gross margin pressured; new products SD7 Plus and Real Time View in trials; needs $2-3M more capital; no formal guidance yet. - **2023 Q2:** Siyata Mobile reports 180% YoY revenue growth to $2.7M in Q2 2023 driven by SD7 handset adoption across major carriers; expands certifications, launches SD7+ with body camera, secures factoring facility, but avoids quarterly guidance citing early-stage ramp. - **2023 Q1:** Siyata Mobile reported strong Q1 2023 revenue growth driven by SD7 rugged handset sales, raised $3.6 M via warrants, and previewed the SD7+ launch later 2023 while noting inventory claim and audit transition risks. - **2022 Q3:** Siyata Mobile posted 111% revenue growth in Q3 2022 driven by SD7 shipments, targets 10,000 units per quarter, plans SD7+ launch in Q1‑Q2 2023 and raised $4 M equity, leaving a healthy balance sheet. - **2022 Q2:** Revenue jumped 172% to $970k as SD7 rugged handset sales and new carrier approvals drive optimism, but management notes trial‑to‑sale conversion lag and supply‑chain shipping costs add near‑term uncertainty. ## Guidance path 2022 Q2:maintained → 2022 Q3:maintained → 2023 Q1:vague → 2023 Q2:vague → 2023 Q3:vague → 2023 Q4:vague → 2024 Q2:maintained → 2024 Q3:maintained --- Research context only. Not personalized investment advice. API: `GET /bff/api/bigfive/earnings-intel/CHAI`