Published on 11 Feb 2024 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 platform. The company’s loss has recently broadened since it announced a US$15m loss in the full financial year, compared to the latest trailing-twelve-month loss of US$16m, moving it further away from breakeven. Many investors are wondering about the rate at which Siyata Mobile will turn a profit, with the big question being “when will the company breakeven?” Below we will provide a high-level summary of the industry analysts’ expectations for the company.

View our latest analysis for Siyata Mobile

According to the 3 industry analysts covering Siyata Mobile, the consensus is that breakeven is near. They anticipate the company to incur a final loss in 2024, before generating positive profits of US$3.6m in 2025. So, the company is predicted to breakeven just over a year from now. How fast will the company have to grow each year in order to reach the breakeven point by 2025? Working backwards from analyst estimates, it turns out that they expect the company to grow 58% year-on-year, on average, which is rather optimistic! Should the business grow at a slower rate, it will become profitable at a later date than expected.