$SYTA **Financial Highlights**
In the 2nd quarter of 2023, Siyata Mobile reported a substantial increase in its revenues, growing from $0.97 million in 2022 to an impressive $2.7 million. This surge was mainly attributed to the sales of the SD7, their flagship product. The drop in sales of the legacy products and boosters was more than compensated by the SD7's remarkable performance.Moreover, Siyata also demonstrated its ability to maximize profit. The gross profit leap from $108,673 (11.2% gross margin) in the previous year to a whopping $804,490 (29.7% gross margin) is noteworthy. The healthy margins associated with the SD7 handsets are predominantly responsible for this growth, signaling the company's adeptness in pushing its high-margin products. Furthermore, the adjusted EBITDA and net loss metrics both showed a substantial improvement, and with a solid cash balance of $2.0 million as of June 30, 2023, Siyata's financial health seems robust.
