It took them a looooooong time to get the approval but 2019 should be a breakout year. The UV-350 device should really boost sales and at a much better gross margin than legacy 2G and 3G devices. Gross margins should move from the high 20's to the mid 30% range.
Sales moving to 30 million with improving gross margins is a good recipe for a breakout year.
IR has been telling me for several years that the Tier One operators are very anxious to get their hands on the UV-350 to generate revs for the cell networks from current push to talk Land Mobile Radio customers. The cell networks get no revs for current fleets that use LMR. They can get commissions for selling equipment and accessory software but not for the basic radio service. Since fleet users are commercial customers and are used to paying fees, this segment represents $50/month per user for the Tier One operator.
AT&T might sell 100K units to their existing customers in a year and that represents $5million/month in fees. After several years, this could grow to substantial revs, even for a huge company like AT&T.
We should find out pretty early in 2019 if Siyata is for real. I expect AT&T and Bell Canada to try to get ahead of other competitors. The longer they wait, the more chance Siyata will get approved by other cell network operators. Siyata has to pay for the tests to get the device approved and it's around $500K for each US cell network. So they have only applied to two US networks. Once they start getting revs and profits from the UV-350, they can apply to all the big US networks.
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