Over recent years, the sanctity and safety of American schools have increasingly been threatened by a growing wave of violence. Despite the assumption that these institutions should be havens of learning and personal growth, stark realities of active shooter incidents, student violence against teachers, and escalating student-on-student altercations have disrupted this perception. A trend that goes beyond mere numbers and statistics, it represents a significant shift in the climate of schools across the country, leading to profound and pressing concerns over safety and security.
In the wake of increasing safety concerns in K-12 schools across the United States, Siyata Mobile (NASDAQ: SYTA) and CrisisGo have partnered to provide a cutting-edge solution that enhances communication and safety preparedness. The integration of Siyata Mobile's SD7 handheld device with CrisisGo's safety platform offers a comprehensive solution to help schools stay connected and prepared for incidents, including active shooter situations.
Siyata Mobile and CrisisGo
Siyata Mobile is a developer and provider of communication solutions for enterprise customers, first responders, security guards, delivery/logistics companies, construction workers, and government agencies. Its products include a portfolio of push-to-talk/PTT over cellular (PoC) devices, such as rugged handsets and in-vehicle communication devices. Siyata Mobile also sells a family of cellular boosters for use in vehicles, homes, and large venues with weak signals.
The company’s SD7 handset is designed for instant communication with an SOS panic button, providing a simple, easy-to-use solution for immediate communication. The SD7 is a versatile Push-to-Talk (PTT) device that can handle everyday incidents like fights or medical emergencies, to contacting first responders. The SD7 can also initiate a lockdown of the building, meeting Alyssa's Law requirements.
On the other hand, CrisisGo is the leading safety platform & emergency solution trusted by over 16,000 schools. With CrisisGo, schools can cover the entire process and workflow required for safety and emergency response, integrate the technology needed to streamline safety and connect the people who make safety happen.
Integration Capabilities of the SD7 and CrisisGo’s Platform
The integration of the SD7 with CrisisGo's platform allows users to instantly trigger a CrisisGo panic alarm and receive mass notifications without requiring an app or login. With simple clicks of the SD7 SOS button, users can trigger a Staff Assist alert or a Lockdown alert. After triggering an alert, users can record voice information (up to 20 seconds upon configuration) to send with the alert. Alert announcements and voice information will be automatically played in SD7 when an alert is sent to the device.
The SD7 handset also supports two-way communication, allowing for more effective communication between dispatch and users. It provides an immediate, two-way connection with first responders, ensuring they have all the information needed to aid in the current crisis. This feature is particularly crucial in active shooter situations where immediate communication with first responders can save lives.
Furthermore, the SD7 handset can be used in a vehicle kit on school buses, providing precise location data and PTT abilities. This feature can be particularly useful during emergencies, allowing school dispatch to monitor the bus’s location and ensure that it stays on its designated route.
The integration allows for the following specific functionalities:
Send Alert: Upon CrisisGo integration, users can use the Siyata SD7 SOS button to trigger alerts. Three clicks of the SOS button trigger a Staff Assist alert, while seven clicks trigger a Lockdown alert. After triggering an alert, users will hear a notification sound from the SD7 device, and they may record voice information (up to 20 seconds upon configuration) to send with the alert.
Receive Alert: Alert announcements and voice information will be automatically played in SD7 when an alert is sent to the device. This feature ensures that all users are immediately aware of any emergencies and can respond accordingly.
Check In: When a Check In is sent to a device, the SD7 plays a notification tone and vibrates for 10 seconds, displaying the Check In question and one of the options on OLED. Users can turn the SD7 knob to switch to show other options for check-in questions and press down on the knob to select the option shown on OLED for submission.
Receive Messages: When a text or audio message is sent to a device, the SD7 plays a notification tone, vibrates for 10 seconds, and displays the message content or notification on OLED. Users can press down on the knob to play audio, stop playing, or remove the audio message from the SD7.
Safety iControl Access: Users can access Safety iControl, the smart command center for school administrators to initiate, manage, and monitor safety activities. This feature allows users to send alerts, check-ins, and text messages, escalate and share with external first responders or communities, manage school maps and resources, and view real-time situations on GIS.
Advantages of the SD7 + CrisisGo Compared to the Old LMR System
The advantages of the SD7 integrated with CrisisGo are numerous, and it represents a significant improvement over the traditional Land Mobile Radio (LMR) system. Firstly, the SD7 provides an intuitive, straightforward interface that simplifies the process of communication during emergencies. Unlike the LMR system, which can be susceptible to signal interference, the SD7's digital interface is seamless and offers a clear, uninterrupted connection. Additionally, the SD7's integration with CrisisGo enhances its functionality by allowing for the instant triggering of panic alarms and mass notifications, a capability that the LMR system lacks.
Furthermore, the SD7's Push-to-Talk (PTT) capability allows for instant communication, a feature that is critical during emergencies. This instant communication capability far surpasses the LMR system, which often requires several steps to establish a communication channel. The SD7's two-way communication feature also enhances the flow of information between the users and first responders, ensuring they have all the necessary details in real time. Unlike the LMR system, the SD7 uses cellular networks that allow the user access to nation-wide coverage compared to limited-ranged radio networks. This means the SD7 can be used in a multitude of environments and situations, such as on school premises, on field trips, at sporting events and other locations effectively without worry of radio connectivity.
Lastly, the SD7 offers the potential for integration with vehicle systems, providing precise location data and enhancing the safety of school buses, a feature that the LMR system cannot match. Through these advancements, the SD7 and CrisisGo integration offers a modern, comprehensive solution that greatly surpasses the capabilities of the traditional LMR system in ensuring the safety of K-12 schools.
Siyata Has Secured Large Purchase Orders Recently, While Continuing to Expand its Distribution Footprint
Siyata Mobile has recently received multiple significant orders for its products and has continued to expand its distribution network. In total, Siyata has recently received orders with a combined value of $3.85 million:
In terms of recent orders, the company has announced a $1.2 million order for its UV350 In-Vehicle Devices and “Siyata Real-Time View,” from a repeat customer adding more devices to their fleet of ambulances. The 'Siyata Real-Time View' product provides in-fleet video monitoring, offering high-resolution video that can be accessed in real-time or retrieved later via cloud storage. The video software creates a recurring revenue stream for Siyata from a license fee.
Siyata also received a $750,000 order for its next-generation MCPTT (mission-critical push-to-talk) solution from an independent emergency management service (EMS) provider. This order includes the company's SD7 devices and related accessories, which will be used in a variety of mission-critical situations, including in ambulances and other emergency vehicles. The SD7 device operates over the high bandwidth 4G LTE network and is IP68 rated, making it resistant to water, dust, and drops, perfect for use in harsh environments.
The company also secured a $900,000 order to supply a U.S. public school district with its SD7 handsets and accessories. This order represents the company's largest in the education market to date. The SD7 handset will provide teachers and school staff with a reliable means of communication and the ability to notify first responders in case of an emergency.
Furthermore, a school district in the Southwest U.S. placed a $600,000 purchase order with Siyata to equip teachers with SD7 handsets and associated accessories, which will enable direct communication capabilities with first responders and other school officials.
On June 5th, Siyata received an additional purchase order of $400,000 for its SD7 handsets and their associated VK7 vehicle kits. The order effectively expands the company’s SD7 footprint into the education, healthcare and construction sectors.
On the distribution front, Siyata announced a distribution reseller agreement with Two Way Direct, Inc. in April 2023 to offer the SD7 device nationally. In addition, Siyata has announced a global expansion into the Netherlands through a distribution deal with KPN Royal Dutch Telecom, a leading telecommunications and IT service provider in the region.
As a part of the deal, KPN will now offer the SD7 device and associated accessories through its KPN PTT service. This offering is primarily targeted at medium and large-scale government and corporate entities.
In addition to KPN, Siyata’s distribution features wireless carrier partners include AT&T, FirstNet, Verizon, T-Mobile, U.S. Cellular, Bell Mobility (Canada), and Telstra (Australia).
Fundamental Research Corp. Issues Updated Research Report Giving Siyata a Fair Value of $0.46; Zacks Investment Research Issues Price Target of $0.75
Equity research company, Fundamental Research Corp., issued an updated report on Siyata dated May 30, 2023. In the report, the firm highlighted the strong growth that is being driven by the SD7 handheld devices. As a result, the firm reiterated its “buy” rating for Siyata and issued a fair value price of $0.46.
On an estimated basis for full-year 2023, Fundamental Research Corp. believes Siyata could generate total revenue of $10.38 million while maintaining a strong financial footing with cash estimates of $489,521, total assets of $15.01 million and working capital of $1.35 million.
For the full-year 2024, the equity research firm estimates revenues growing to $14.81 million and the company's financial position further improving: estimated cash holdings of $1.03 million, total assets of $15.69 million, and working capital of $1.86 million.
“We believe SYTA should be able to maintain its growth momentum in the coming quarters, driven by new distribution partners,” noted the equity research report.
On June 5, 2023, Zacks Investment Research also issued an updated equity research report, after the company’s strong Q1 2023 and recent updated on new sales and distribution opportunities. As a result of the equity research firm’s discounted cash flow (DCF) model, the company has issued a new price target of $0.75 for Siyata Mobile.
“We believe Siyata Mobile is on track to generate strong double-digit revenue growth rates going forward. We expect overall gross margins to increase steadily from current levels as volume levels increase,” according to the Zacks report.
“Based on our 2023 revenue estimates of $12.2 million, SYTA is selling at a Price/Sales ratio of approximately 0.65x. The peer group average Price/Sales ratio is 2.35x and the sector median is 2.73x. These relative valuations support a significantly higher stock price for SYTA,” Zacks analysts concluded.
In the face of burgeoning school safety concerns, the partnership between Siyata Mobile and CrisisGo, fusing the SD7 handheld device and CrisisGo's safety platform, presents a groundbreaking solution designed to reinforce preparedness and communication during emergencies. The integration capitalizes on the strengths of each technology, creating an intuitive and effective tool that streamlines the process of initiating a response, managing safety workflows, and enabling immediate, two-way communication with first responders.
Far superior to traditional Land Mobile Radio systems, the SD7-CrisisGo integration allows for a real-time panic alarm activation, mass notifications, and immediate communication, both in daily scenarios and critical incidents. An invaluable feature is the device's adaptability for use in school buses, augmenting safety through precise location data and push-to-talk capabilities.
Siyata Mobile's recent success in securing significant purchase orders and expanding its distribution network underscores the market's recognition of the potential these innovations carry. Notably, the $900,000 order from a U.S. public school district represents a landmark in the education sector, signifying the industry's trust in Siyata Mobile's ability to deliver reliable and efficient solutions.
Furthermore, Siyata's global expansion strategy, as demonstrated by its partnership with Two Way Direct, Inc. and KPN Royal Dutch Telecom, widens the reach of these transformative solutions. Finally, Fundamental Research Corp's "buy" rating for Siyata, along with an encouraging revenue growth projection, reflects the industry's optimism about the company's growth trajectory, largely driven by the SD7 handheld devices. Therefore, Siyata Mobile's concerted efforts towards innovative solutions for school safety represent a game-changing approach to meet the urgent needs of today's educational institutions.
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