Published on 17 Oct 2022 on Simply Wall St. via Yahoo Finance

When Will Siyata Mobile Inc. (NASDAQ:SYTA) Become Profitable?

We feel now is a pretty good time to analyse Siyata Mobile Inc.'s (NASDAQ:SYTA) business as it appears the company may be on the cusp of a considerable accomplishment. Siyata Mobile Inc. develops and provides cellular communications solutions for enterprise customers. The US$3.0m market-cap company posted a loss in its most recent financial year of US$24m and a latest trailing-twelve-month loss of US$19m shrinking the gap between loss and breakeven. The most pressing concern for investors is Siyata Mobile's path to profitability – when will it breakeven? Below we will provide a high-level summary of the industry analysts’ expectations for the company.

See our latest analysis for Siyata Mobile

According to the 2 industry analysts covering Siyata Mobile, the consensus is that breakeven is near. They anticipate the company to incur a final loss in 2023, before generating positive profits of US$5.5m in 2024. Therefore, the company is expected to breakeven roughly 2 years from now. What rate will the company have to grow year-on-year in order to breakeven on this date? Using a line of best fit, we calculated an average annual growth rate of 63%, which is rather optimistic! If this rate turns out to be too aggressive, the company may become profitable much later than analysts predict.