Published on 27 Mar 2023 on Simply Wall St. via Yahoo Finance

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

With the business potentially at an important milestone, we thought we'd take a closer look at Siyata Mobile Inc.'s (NASDAQ:SYTA) future prospects. Siyata Mobile Inc. develops and provides cellular-based communications solutions for enterprise customers. With the latest financial year loss of US$24m and a trailing-twelve-month loss of US$14m, the US$11m market-cap company alleviated its loss by moving closer towards its target of breakeven. As path to profitability is the topic on Siyata Mobile's investors mind, we've decided to gauge market sentiment. Below we will provide a high-level summary of the industry analysts’ expectations for the company.

Check out our latest analysis for Siyata Mobile

Consensus from 3 of the American Communications analysts is that Siyata Mobile is on the verge of breakeven. They anticipate the company to incur a final loss in 2023, before generating positive profits of US$5.5m in 2024. The company is therefore projected to breakeven just over a year from today. 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 54%, which signals high confidence from analysts. If this rate turns out to be too aggressive, the company may become profitable much later than analysts predict.