Siyata Mobile Inc. (SYTA): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama de la tecnología de comunicación móvil en rápida evolución, Siyata Mobile Inc. (SYTA) surge como una fuerza pionera, transformando cómo las empresas y las organizaciones de seguridad pública se conectan y colaboran. Al crear meticulosamente dispositivos móviles resistentes y soluciones de comunicación innovadores, esta compañía dinámica ha forjado un nicho único en la entrega de tecnología especializada que resiste los entornos de trabajo más desafiantes. Su lienzo de modelo comercial integral revela un enfoque estratégico que va más allá de la tecnología móvil tradicional, ofreciendo plataformas integradas que redefinen la eficiencia de la comunicación para las industrias que van desde el transporte y la logística hasta los equipos de respuesta de emergencia.

Siyata Mobile Inc. (SYTA) - Modelo de negocios: asociaciones clave

Operadores inalámbricos y operadores de redes móviles

Siyata Mobile ha establecido asociaciones con los siguientes operadores inalámbricos:

Transportador	Detalles de la asociación	Cobertura de red
AT&T	Certificación de dispositivos y compatibilidad de red	Estados Unidos en todo el país
Bell Canadá	Soluciones de distribución y empresa	Canadá en todo el país

Fabricantes de hardware de tecnología

Las asociaciones clave de fabricación de hardware incluyen:

• Qualcomm - Integración de tecnología de chipset y comunicación
• MediaTek - Desarrollo del procesador móvil

Socios de desarrollo de software

Pareja	Enfoque de software	Alcance de colaboración
Google	Integración del sistema operativo Android	Soluciones de movilidad empresarial
Microsoft	Compatibilidad de la plataforma en la nube	Herramientas de comunicación empresarial

Proveedores de infraestructura de telecomunicaciones

Asociaciones de infraestructura:

• Nokia Networks - Soporte de infraestructura 4G/5G
• Ericsson - Compatibilidad de equipos de red

Integradores de soluciones de movilidad empresarial

Integrador	Tipo de solución	Segmento de mercado
Negocio de Verizon	Soluciones móviles empresariales	Grandes clientes corporativos
Rogers Communications	Sistemas de comunicación de seguridad pública	Gobierno y servicios de emergencia

Siyata Mobile Inc. (SYTA) - Modelo de negocio: actividades clave

Diseño de dispositivos de comunicación móvil resistentes

Siyata Mobile se centra en desarrollar dispositivos móviles resistentes especializados para los mercados empresariales y de seguridad pública. En 2023, la compañía informó inversiones de desarrollo de dispositivos de $ 2.1 millones.

Categoría de dispositivo	Inversión de desarrollo anual	Mercado objetivo
Dispositivos de comunicación de vehículos	$850,000	Socorristas
Teléfonos inteligentes resistentes	$750,000	Sectores industrial
Push-to-Talking Terminales	$500,000	Servicios de emergencia

Desarrollo de software especializado de comunicación empresarial

Siyata Mobile asigna recursos significativos para el desarrollo de software para plataformas de comunicación.

• Presupuesto anual de desarrollo de software: $ 1.5 millones
• Equipo de ingeniería de software: 12 desarrolladores a tiempo completo
• Plataformas de software primarias: UV350, sistemas de comunicación UV500

Proporcionar soluciones de comunicación Push-to-Talk (PTT)

Las soluciones PTT representan un segmento comercial central con $ 3.2 millones en ingresos durante 2023.

Tipo de solución PTT	Ingresos anuales	Clientes principales
Sistemas PTT Enterprise	$ 1.8 millones	Grandes corporaciones
PTT de seguridad pública	$ 1.4 millones	Agencias gubernamentales

Sistemas de comunicación de vehículos de fabricación

La producción del sistema de comunicación del vehículo es una actividad crítica para Siyata Mobile.

• Instalaciones de fabricación: 2 ubicaciones
• Capacidad de producción anual: 50,000 unidades de comunicación de vehículos
• Inversión de fabricación en 2023: $ 1.7 millones

Entrega de soluciones de tecnología móvil personalizadas

Los servicios de personalización generaron $ 2.5 millones en ingresos durante 2023.

Servicio de personalización	Ingresos anuales	Enfoque de la industria
Soluciones de gestión de flotas	$ 1.2 millones	Transporte
Personalizaciones de seguridad pública	$900,000	Servicios de emergencia
Soluciones de comunicación industrial	$400,000	Fabricación

Siyata Mobile Inc. (SYTA) - Modelo de negocios: recursos clave

Patentes de tecnología de comunicación patentadas

A partir de 2024, Siyata Mobile posee 7 Patentes de tecnología de comunicación activa Registrado en la Oficina de Patentes y Marcas de los Estados Unidos.

Categoría de patente	Número de patentes	Duración de protección de patentes
Sistemas de comunicación de vehículos	3	Hasta 2035
Comunicación de seguridad pública	2	Hasta 2037
Tecnología de dispositivos móviles resistentes	2	Hasta 2036

Equipo de ingeniería e I + D

El equipo de ingeniería de Siyata Mobile comprende 24 profesionales a tiempo completo.

• Titulares de doctorado: 5
• Titulares de maestría: 12
• Titulares de licenciatura: 7

Cartera estratégica de propiedad intelectual

Valoración total de propiedad intelectual: $ 3.2 millones.

Capacidades de fabricación

Ubicación de fabricación	Capacidad de producción anual	Tipo de producción
Taiwán	120,000 unidades	Dispositivos móviles resistentes
Porcelana	85,000 unidades	Terminales de comunicación

Infraestructura de soporte técnico

Tamaño del equipo de soporte técnico: 18 especialistas en apoyo a tiempo completo.

• Cobertura de soporte global 24/7
• Tiempo de respuesta promedio: 37 minutos
• Idiomas de apoyo: inglés, español, francés

Siyata Mobile Inc. (SYTA) - Modelo de negocio: propuestas de valor

Dispositivos móviles resistentes especializados para mercados empresariales

Especificaciones del dispositivo UV350 de Siyata Mobile:

Especificación	Detalles
Tamaño de pantalla	5.5 pulgadas
Calificación de durabilidad	IP68 impermeable
Capacidad de batería	4000 mAh
Rango de temperatura de funcionamiento	-20 ° C a 60 ° C

Soluciones de comunicación mejoradas para sectores de seguridad pública

Características de la plataforma de comunicación clave:

• Canales de comunicación prioritaria
• Protocolos de transmisión cifrados
• Comunicación grupal en tiempo real

Plataformas de comunicación de Push Push-to-Talk Integrated

Métricas de conectividad de plataforma:

Métrico	Valor
Cobertura de red	95% de cobertura norteamericana
Conexiones de usuario simultáneas	Hasta 250 usuarios
Estado latente	Menos de 300 milisegundos

Tecnología móvil duradera para entornos de trabajo desafiantes

Estadísticas de confiabilidad del dispositivo:

• Resistencia a la prueba de caída: 1.8 metros
• Resistencia a la vibración: MIL-STD-810G certificado
• Vida operativa: más de 5 años en condiciones duras

Soluciones de movilidad integrales para la gestión de la flota

Capacidades de la plataforma de gestión de flota:

Característica	Capacidad
Seguimiento de vehículos	Monitoreo del GPS en tiempo real
Análisis de rendimiento del conductor	Informes integrales
Integración de la comunicación	Sistemas de despacho sin costuras

Siyata Mobile Inc. (SYTA) - Modelo de negocios: relaciones con los clientes

Soporte de ventas directo para clientes empresariales

A partir del cuarto trimestre de 2023, Siyata Mobile Inc. informó que el soporte de ventas de clientes empresariales directos se centró en los sectores de seguridad pública, transporte y servicios públicos.

Segmento de clientes	Nivel de soporte	Tiempo de respuesta promedio
Seguridad pública	Toque alto	2-4 horas
Transporte	Toque medio	6-8 horas
Servicios de servicios públicos	Apoyo crítico	1-2 horas

Servicios de consulta técnica

Los servicios de consulta técnica proporcionados por Siyata Mobile incluyen:

• Evaluación de infraestructura previa al despliegue
• Análisis de compatibilidad de la red
• Estrategia de integración personalizada

Soporte de implementación personalizado

Métricas de soporte de implementación para 2023:

Tipo de servicio	Duración promedio	Clientes atendidos
Integración completa del sistema	45-60 días	12 clientes empresariales
Implementación del sistema parcial	15-30 días	24 clientes empresariales

Actualizaciones continuas de software y firmware

Frecuencia de actualización: Lanzamientos de software trimestrales

• Ciclo de actualización promedio: cada 90-120 días
• Cumplimiento de los estándares de seguridad de la industria
• Administración automática de parches

Gestión dedicada del éxito del cliente

Composición del equipo de éxito del cliente a partir de 2024:

Rol de equipo	Número de profesionales	Cartera promedio de clientes
Gerentes de cuentas senior	4	5-7 clientes empresariales
Especialistas en soporte técnico	8	10-12 clientes empresariales

Siyata Mobile Inc. (SYTA) - Modelo de negocios: canales

Equipo de ventas directas

A partir de 2024, el equipo de ventas directas de Siyata Mobile comprende 12 representantes de ventas a tiempo completo centrados en los mercados empresariales y de seguridad pública.

Categoría de canal de ventas	Número de representantes	Segmento del mercado objetivo
Ventas empresariales	7	Gestión de flota comercial
Ventas de seguridad pública	5	Redes de primeros respondedores

Plataforma de comercio electrónico en línea

Siyata Mobile opera una plataforma de comercio electrónico B2B dedicada con las siguientes métricas:

• Tráfico del sitio web: 45,000 visitantes únicos mensuales
• Tasa de conversión en línea: 3.2%
• Valor de transacción promedio: $ 4,750

Redes de distribuidores de telecomunicaciones

Siyata Mobile mantiene asociaciones con 17 distribuidores de telecomunicaciones en América del Norte.

Región	Número de distribuidores	Volumen de distribución anual
Estados Unidos	9	12,500 unidades
Canadá	8	7.800 unidades

Ferias y conferencias comerciales de la industria

En 2024, Siyata Mobile participa en 6 eventos principales de la industria:

• IWCE (Expo International de Comunicaciones inalámbricas)
• Conferencia internacional de APCO
• CTIA Super Mobility
• Conferencia de comunicaciones de seguridad pública
• Cumbre de transformación de movilidad empresarial
• Conferencia de respondedor de FirstNet

Marketing digital y generación de leads basada en la web

Métricas de rendimiento de marketing digital para 2024:

Canal digital	Impresiones mensuales	Tasa de generación de leads
LinkedIn	85,000	2.1%
Ads de Google	120,000	1.8%
Seminarios web de la industria	35,000	3.5%

Siyata Mobile Inc. (SYTA) - Modelo de negocios: segmentos de clientes

Organizaciones de seguridad pública

Siyata móvil se dirige a organizaciones de seguridad pública con soluciones de comunicación especializadas.

Segmento	Tamaño del mercado	Clientes potenciales
Departamentos de policía	Más de 18,000 agencias en América del Norte	Aplicación de la ley municipal y estatal
Departamentos de bomberos	Más de 27,000 departamentos en Estados Unidos	Servicios de emergencia urbanos y rurales

Empresas de transporte y logística

Dispositivos de comunicación especializados para la gestión de la flota y la seguridad del conductor.

Segmento	Vehículos de flota total	Mercado potencial
Compañías de camiones	3.5 millones de camiones comerciales en EE. UU.	Transporte de larga distancia y regional
Servicios de entrega	1.2 millones de vehículos de entrega	Proveedores de última milla y logística

Construcción e empresas industriales

• Dispositivos de comunicación resistente para entornos duros
• Soluciones de coordinación de la fuerza laboral en tiempo real
• Seguimiento de seguridad y productividad

Segmento de la industria	Enterprisas totales	Necesidades de comunicación
Construcción	680,000 empresas de construcción	Comunicación del sitio de trabajo
Fabricación	290,000 instalaciones de fabricación	Coordinación operacional

Agencias gubernamentales

Sectores gubernamentales clave para soluciones de comunicación:

• Agencias federales
• Departamentos a nivel estatal
• Unidades del gobierno municipal

Nivel gubernamental	Total de clientes potenciales	Requisitos de comunicación
Agencias federales	430 departamentos federales principales	Plataformas de comunicación seguras
Agencias estatales	50 gobiernos estatales	Soluciones de interoperabilidad

Equipos de respuesta a emergencias

Dispositivos de comunicación especializados para escenarios de respuesta crítica.

Tipo de respuesta	Total de equipos	Necesidades de comunicación
Servicios médicos de emergencia	Más de 21,000 servicios de ambulancia	Coordinación en tiempo real
Buscar y rescate	Más de 3,500 equipos especializados	Dispositivos de comunicación ruggados

Siyata Mobile Inc. (SYTA) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal que finaliza el 31 de diciembre de 2023, Siyata Mobile Inc. reportó gastos de I + D de $ 2,153,000.

Año fiscal	Gastos de I + D	Porcentaje de ingresos
2023	$2,153,000	28.4%
2022	$1,879,000	25.6%

Costos de fabricación y producción

Los costos totales de fabricación para 2023 fueron de $ 4,687,000.

• Costos de material directo: $ 2,345,000
• Costos laborales directos: $ 1,456,000
• Sobrecoss de fabricación: $ 886,000

Inversiones de ventas y marketing

Los gastos de ventas y marketing para 2023 totalizaron $ 3,214,000.

Canal de marketing	Asignación de gastos
Marketing digital	$1,087,000
Ferias comerciales	$456,000
Compensación del equipo de ventas	$1,671,000

Mantenimiento de la infraestructura tecnológica

Los costos de mantenimiento de la infraestructura tecnológica para 2023 fueron de $ 987,000.

• Servicios en la nube: $ 345,000
• Licencias de software: $ 276,000
• Mantenimiento de hardware: $ 366,000

Adquisición de personal y talento

Los gastos totales relacionados con el personal en 2023 ascendieron a $ 5,643,000.

Categoría de personal	Gastos
Salarios base	$4,123,000
Beneficios	$876,000
Costos de reclutamiento	$644,000

Siyata Mobile Inc. (SYTA) - Modelo de negocios: flujos de ingresos

Ventas de dispositivos de hardware

Para el año fiscal 2023, Siyata Mobile reportó ingresos por ventas de dispositivos de hardware de $ 3.47 millones.

Categoría de productos	2023 ingresos
Dispositivos ultra resistentes	$ 1.85 millones
Dispositivos de comunicación en el vehículo	$ 1.62 millones

Tasas de licencia de software

Los ingresos por licencia de software para 2023 totalizaron $ 0.92 millones.

Servicios de comunicación basados ​​en suscripción

Los ingresos por suscripción para 2023 alcanzaron $ 1.25 millones.

Tipo de suscripción	2023 ingresos
Plataforma de comunicación empresarial	$ 0.75 millones
Gestión de dispositivos móviles	$ 0.50 millones

Desarrollo de soluciones personalizadas

Los ingresos por desarrollo de soluciones personalizadas para 2023 fueron de $ 0.68 millones.

Contratos de soporte técnico y mantenimiento

Soporte técnico y ingresos por contrato de mantenimiento para 2023 ascendieron a $ 0.55 millones.

Tipo de servicio de soporte	2023 ingresos
Contratos de soporte anual	$ 0.35 millones
Servicios de garantía extendidos	$ 0.20 millones

Flujos de ingresos totales para 2023: $ 6.82 millones

Siyata Mobile Inc. (SYTA) - Canvas Business Model: Value Propositions

For mission-critical users, the value proposition centers on providing dependable communication where traditional systems fail or are too costly to maintain.

• Mission-Critical Communications: Reliable, rugged LMR replacement on 4G/5G networks (SD7, SD7 ULTRA).
• The SD7 ULTRA is recognized as the first land mobile radio (LMR) replacement in the U.S. offering mission-critical push-to-talk capabilities on a 5G network.
• The SD7 ULTRA is part of T-Mobile's initiative to enhance communication tools for first responders.
• A public utility in the US deployed SD7 handsets to replace its aging two-way radios in 2024.
• Siyata Mobile received an order from a major transit authority for over two thousand SD7 handsets and accessories, expected for delivery in the first quarter of 2025.
• The company is a global developer and vendor of Push-to-Talk over Cellular (PoC) handsets and accessories used by police, fire, ambulance organizations, schools, and hospitals.

The cost advantage over legacy systems is a significant driver for adoption.

Metric	Value Proposition Data Point	Source Context
LMR Replacement TCO Savings	At least 70% savings compared to LMR Total Cost of Ownership (TCO)
PoC Market Size (Projected)	$5 billion market for PoC, projected to grow at 12% CAGR through 2030
Q2 2025 Standalone Revenue	$2.0 million
Q2 2025 Standalone Net Loss	$3.8 million (down from $12.9 million year-ago period)
Pro Forma 2025 Revenue Projection	$100 million (combined entity)

For in-vehicle operations, connectivity reliability is paramount.

• In-Vehicle Connectivity: Cellular booster systems and vehicle kits for improved signal.
• Siyata Mobile also sells Cellular Boosters to improve signal in buildings or vehicles.
• The company received a U.S. patent for its innovative Push-to-Talk Vehicle Kit in May 2024.
• In June 2023, Siyata Mobile received an order of $1.2 million for In-Vehicle devices.

The strategic merger with Core Gaming introduces high-engagement digital entertainment as a new value stream.

• AI-Driven Entertainment: Vast library of mobile games with high user engagement.
• Core Gaming brings 43 million monthly active users (MAUs).
• The platform has driven over 790 million cumulative downloads.
• The AI COMIC App achieved rapid user growth, reaching nearly 300k users.
• Core Gaming had unaudited gross revenues of approximately $80 million in fiscal year 2024.
• The AI gaming market is projected to reach $28 billion by 2033.

The developer platform offers efficiency gains through proprietary technology.

• Developer Platform: AI tools for content creation and monetization for third-party developers.
• Core Gaming's AI tools using text, language, image, and video models achieve a 50% boost in content production.
• This AI integration reduces content production time by over 40%.

Finance: review Q3 2025 pro forma projections by end of next week.

Siyata Mobile Inc. (SYTA) - Canvas Business Model: Customer Relationships

You're looking at how Siyata Mobile Inc. (SYTA), especially post-merger with Core Gaming, structures its interactions with its diverse customer base as of late 2025. The relationships are clearly segmented, moving from deep, direct engagement for mission-critical hardware sales to a more scalable, digital approach for the newly integrated gaming segment.

Dedicated B2B sales and technical support for enterprise/first responder contracts

For the core Push-to-Talk over Cellular (PoC) business, the relationship is intensely focused on reliability and mission readiness. This requires a dedicated sales force capable of consultative selling to public safety and enterprise clients. The devices, like the SD7 handset, are trusted by first responders across North America, which necessitates robust technical support to ensure seamless operation in high-pressure environments. This segment is validated by significant contract wins.

• Order from an existing international EMS organization valued at $2.5 million, delivered in Q1 2025.
• Order from a major transit authority for over two thousand SD7 handsets, slated for Q1 2025 delivery.
• The SD7 device earned the prestigious "Verizon Frontline Verified" designation, a key relationship milestone.

Direct relationship management with Tier-1 cellular carriers

Managing relationships with major carriers is crucial because Siyata Mobile sells its portfolio through these channels. These partnerships ensure network compatibility and access to large enterprise pools. The relationship with T-Mobile's T-Priority program, for instance, included up to $1 million in milestone payments in 2025. Siyata Mobile's SD7 is now positioned as a key communications partner across all three major U.S. wireless carriers: Verizon, AT&T, and T-Mobile.

High-touch, consultative sales for large government/utility contracts

Securing large public sector and utility deals demands a high-touch approach, often involving rigorous vetting processes, as seen with the U.S. federal government order for Hero Series cellular boosters announced in late 2023. These sales involve understanding specific operational needs, such as creating a "connectivity bubble" for remote operations, as seen in the partnership with IP Access International. This consultative model is what drives multi-million dollar orders.

The nature of these relationships, spanning from direct carrier integration to large-scale public safety deployments, underpins the hardware side of the business, which is now aiming for a combined $100 million in revenue for 2025 with the gaming segment.

Automated, in-app customer service and community management for gaming users

The merger with Core Gaming introduces a completely different customer relationship dynamic centered on digital engagement. Core Gaming brings a massive user base, which requires scalable, automated support structures typical of the mobile gaming industry. This contrasts sharply with the bespoke support for first responders. The gaming segment's scale is substantial, providing the foundation for this relationship type.

Customer Segment	Relationship Type Focus	Key Metric/Value (as of late 2025)
First Responders/Enterprise (PoC)	Dedicated B2B Sales & Technical Support	SD7 device is "Verizon Frontline Verified"
Tier-1 Cellular Carriers	Direct Management & Integration	Up to $1 million in T-Priority milestone payments in 2025
Government/Utility (Large Contracts)	High-Touch, Consultative Sales	Secured $2.5 million EMS order (Q1 2025 delivery)
Gaming Users (Post-Merger)	Automated, In-App Service	43 million Monthly Active Users (MAUs) from Core Gaming

The gaming user base, with 780 million cumulative downloads, relies on digital channels, which is a different kind of relationship management than the hardware sales. Honestly, managing both simultaneously is the real challenge here.

Finance: draft pro-forma cash flow incorporating Q2 2025 results by Monday.

Siyata Mobile Inc. (SYTA) - Canvas Business Model: Channels

Siyata Mobile Inc. primarily moves its portfolio of mission-critical Push-to-Talk over Cellular (PoC) handsets, accessories, and in-vehicle solutions through established telecommunications partnerships.

Direct sales to government and enterprise organizations are a key focus, with products used by Police, fire, and ambulance organizations, as well as schools, utilities, security companies, hospitals, waste management companies, and resorts. While specific direct sales revenue figures for 2025 are not broken out, the company's overall revenue growth reflects the demand from these sectors. For instance, in the quarter ended June 30, 2025, Siyata Mobile Inc. reported total revenues of $2.0 million.

The company relies heavily on North American and international cellular carrier sales teams. Siyata Mobile Inc. markets its devices through leading North American cellular carriers and international carriers. This channel strategy allows Siyata Mobile Inc. to maintain a lean operating cost structure by leveraging the carriers' broad customer base. Furthermore, Siyata Mobile Inc. gives these carriers the ability to activate a SIM card, generating income otherwise not captured from customers using traditional Land Mobile Radio (LMR) systems. The U.S. market was a significant contributor, generating $4.8 million in revenue during the third quarter of 2024, representing 81% of the total revenue for that period. The company has also been working toward launching its 5G product portfolio in 2025, with T-Mobile cited as the first carrier partner for this new line.

The global network of specialized distributors and resellers complements the carrier channel, particularly in international markets. Siyata Mobile Inc. has completed signed distribution contracts to support this network. This network helps distribute the rugged PTT handsets, accessories, enterprise-grade In-Vehicle solutions, and Cellular Booster systems across various geographies. The company's revenue for the last twelve months ending June 30, 2025, reached $11.88 million, marking a year-over-year growth of 49.13%.

Regarding mobile application stores (App Store, Google Play) for gaming content, Siyata Mobile Inc. has taken a strategic step that impacts its future channel strategy. The company signed a definitive merger agreement in February 2025 with Core Gaming Inc., an international AI-driven mobile games developer and publisher. However, the financial results reported for the first half of 2025, such as the Q1 2025 revenue of $2.47 million and the Q2 2025 revenue of $2.0 million, explicitly exclude the financial information or performance of Core Gaming Inc. pending the closing of the merger. This suggests that direct revenue generation through app stores for gaming content, if it becomes a Siyata Mobile Inc. channel, is expected post-merger completion.

Here's a look at the recent revenue performance across the periods available for 2025:

Metric	Q1 2025 Revenue	Q2 2025 Revenue	LTM Revenue (as of Q2 2025)	Full Year 2024 Revenue
Amount	$2.47 million	$2.0 million	$11.88 million	$11.63 million
Year-over-Year Growth	4.7%	5.3%	49.13%	41.25%

The primary customer base served through these channels includes:

• First responders and enterprise workers.
• Organizations such as schools, utilities, and security companies.
• Mobile workers in construction and transportation sectors.

The success of these channels is tied to product certification, as products must be tested and certified by wireless carriers before deployment. If onboarding takes 14+ days, churn risk rises.

Finance: draft 13-week cash view by Friday.

Siyata Mobile Inc. (SYTA) - Canvas Business Model: Customer Segments

You're looking at the customer segments for what is now Core AI Holdings, Inc., following the October 3, 2025, merger. The data here reflects the legacy Siyata Mobile business as of its last reported figures before the merger, alongside the figures brought in by the Core Gaming acquisition.

Public Safety and First Responders (Police, Fire, EMS)

This segment utilizes the mission-critical Push-to-Talk over Cellular (PoC) handsets and in-vehicle systems for reliable communication. These customers require ruggedized 4G LTE devices that work over nationwide cellular networks.

• Targeted organizations include Police, Fire, and Ambulance services.
• The legacy Siyata Mobile business saw its U.S. market sales account for 81% of total revenue in the third quarter of 2024.
• Legacy Siyata Mobile reported Q2 2025 revenues of $2.0 million.

Enterprise Fleets (Utilities, Transportation, Waste Management, Construction)

Enterprise customers use the rugged PTT devices and in-vehicle solutions to maintain situational awareness and connectivity in harsh environments. This segment includes a diverse set of organizations.

Enterprise Sub-Segment	Example SYTA Customer Type	Latest Available Revenue Context
Utilities	Utility companies	Legacy SYTA Q2 2025 Revenue: $2.0 million
Transportation	Transportation fleets, logistics operators	Legacy SYTA 2024 Annual Revenue: $11.63 million
Waste Management	Waste management companies	Legacy SYTA Q3 2024 Revenue: $5.9 million (quarterly)
Construction	Construction crews	Core Gaming 2024 Revenue: $80 million (post-merger context)

The company also offers enterprise-grade In-Vehicle solutions and Cellular Booster systems to these groups.

Global Mobile Gaming Users (Core Gaming's 43 million MAUs)

This segment represents the massive user base acquired through the merger with Core Gaming, which closed in October 2025. This is a significant shift in the customer base scale for the combined entity.

• Core Gaming reported a global footprint of over 40 million users from over 140 countries as of their last reported figures.
• The reported Monthly Active Users (MAUs) for Core Gaming was 43 million.
• Core Gaming generated $80 million in revenue in the 2024 fiscal year.
• The mobile gaming market size was valued at approximately $126 billion in 2025 estimates.

Third-party mobile game developers utilizing the AI platform

This segment consists of developers who use the AI-driven creative technologies platform brought in by the Core Gaming merger to deliver player-focused apps and games. Specific financial contribution data for this developer segment for the post-merger entity as of late 2025 is not yet publicly separated in the legacy Siyata Mobile filings.

• Core Gaming stated it has developed and co-developed over 2,100 games since its launch.
• The platform aims to empower developers to deliver apps to enthusiasts.

Siyata Mobile Inc. (SYTA) - Canvas Business Model: Cost Structure

You're looking at the cost side of the business model for Siyata Mobile Inc. (SYTA), now operating as a hybrid entity following the October 2025 merger with Core Gaming to form Core AI Holdings, Inc. The cost structure is a blend of the legacy, lower-margin hardware business and the high-growth, potentially higher-margin AI/gaming segment.

Cost of Goods Sold (COGS) and Hardware Margins

For the legacy Push-to-Talk over Cellular (PoC) hardware business, the cost structure has been characterized by tight margins. The gross margin for hardware sales was in the low range of approximately 14% to 18.4% for legacy SYTA in Q1/Q2 2025. This low margin is typical for hardware sales, especially when relying on carrier distribution channels. For context, Q1 2025 revenue for the legacy business was reported at $2.47 million, and Q2 2025 revenue was $2.0 million, with both periods showing significant pressure on profitability before the merger fully integrated.

R&D and Engineering Investment

There are significant Research and Development and engineering costs baked into the structure, driven by two major initiatives. First, the commitment to next-generation hardware, including the development and planned U.S. manufacturing relocation starting in Q1 2025 for 5G PoC handsets and accessories, requires sustained engineering spend. Second, the post-merger focus on the AI platform necessitates investment in Core Gaming's proprietary infrastructure, such as the Dynamic Compute Pool System (CPS) and multimodal generative models. The overall operating expenses rose in Q1 2025, reflecting these ongoing development and transition costs.

Sales, General, and Administrative (SG&A) Expenses

SG&A expenses, which include costs associated with maintaining public company status and sales channel costs, are a major component. The reliance on channel partners, primarily wireless carriers, means a significant portion of revenue is tied up in commissions and distribution agreements. For the three months ended March 31, 2024, more than 50% of revenues were generated through these channel partners. Furthermore, the company noted it will continue to incur significant increased costs as a result of operating as a public company in the United States. Finance expenses for the three-month period ended March 31, 2025, specifically included $1,117,622, which covered items like commitment fees for the equity line of credit.

Here's a quick look at some of the reported 2025 financial metrics that illustrate the cost burden:

Metric	Value / Period	Context
Net Loss (Q1 2025)	$3.79 million	Legacy SYTA before full merger impact.
Net Loss (Q2 2025)	$3.8 million	Legacy SYTA before full merger impact.
Finance Expenses (Q1 2025)	$1,117,622	Includes commitment fees and interest on factoring.
Merger Transaction Value	$185 million	Value of the Core Gaming acquisition closed in October 2025.

User Acquisition and Marketing Costs for Mobile Gaming

The mobile gaming segment, now central to the combined entity, has its own distinct cost profile centered on user acquisition (UA) and content delivery. Core Gaming's AI COMIC app success in markets like Japan and South Korea was driven by targeted localization efforts and leveraging virality through platforms like TikTok and Facebook, which implies direct marketing and UA spend. The cost efficiency of this segment is suggested by its monetization metrics; the AI COMIC App is already seeing subscription adoption with ARPU levels outperforming many top-50 mobile games. To benchmark this, the average ARPU for mobile games in the U.S. is projected to be $60.58 in 2025. The goal for the consolidated company in 2025 is to exceed $100 million in revenue and achieve profitability, which will depend on scaling the gaming segment's revenue streams-in-app purchases, AI subscriptions, and advertising-to absorb the fixed and transition costs of the legacy business.

• The shift aims to escape the constraints of the low-margin hardware business.
• The legacy PoC business continues as a subsidiary under Marc Seelenfreund.
• Core Gaming shareholders are projected to hold up to 90% of the merged company.
• Legacy Siyata shareholders are guaranteed at least 10% ownership post-merger.

Siyata Mobile Inc. (SYTA) - Canvas Business Model: Revenue Streams

You're looking at the revenue streams for Siyata Mobile Inc. as it transitions through its merger with Core Gaming Inc. The model is clearly bifurcating into the established hardware business and the high-growth, software-centric gaming/AI business, which is expected to dominate the combined entity's top line.

The legacy Siyata Mobile hardware segment revenue for the second quarter of 2025 was reported at $2.0 million, which is slightly above the $1.9 million posted in the same period last year. This segment is built on the sales of PoC handsets, accessories, and in-vehicle kits. For context on the legacy business's scale, the revenue for the last twelve months ending June 30, 2025, was $11.88 million.

The primary driver for the future revenue projection comes from the pending merger with Core Gaming Inc. The combined entity has set an internal goal to exceed $100 million in revenue for 2025. This aggressive target is mostly driven by the Core Gaming segment, which had unaudited gross revenues of $80 million in 2024.

The revenue streams from the Core Gaming side are diverse and software-focused, which is a significant shift from the hardware focus of legacy Siyata Mobile. These streams include:

• Mobile game monetization via in-app purchases and advertising revenue.
• Service revenue from software subscriptions, such as those from Core Gaming\'s AI-powered platforms.
• Licensing fees from third-party developers using the AI content platform.

Core Gaming already has substantial scale, with its cross-platform ecosystem including over 2,100+ mobile games and apps and 43 million monthly active users (MAUs). The AI COMIC App, a component of this, is already showing subscription adoption with ARPU levels outperforming many top-50 mobile games.

Here is a quick comparison showing the scale shift in revenue focus:

Revenue Stream Component	Latest Reported/Projected Figure	Period/Context
Sales of PoC handsets, accessories, and in-vehicle kits (Legacy SYTA)	$2.0 million	Q2 2025
Legacy SYTA Revenue (Last Twelve Months)	$11.88 million	LTM ending June 30, 2025
Core Gaming Unaudited Gross Revenue	$80 million	2024
Combined Entity Revenue Goal	Exceed $100 million	2025

The legacy Siyata Mobile business is also positioned to benefit from the growing mission-critical Push-to-Talk over Cellular (PoC) market, which is valued at $5 billion and projected to grow at a 12% CAGR through 2030. Furthermore, the company is shifting its 4G and 5G PTT handset production to the U.S. to tap into domestic incentives within the $150 billion U.S. telecom equipment market.

The service revenue from PTT platform access for the legacy business is not explicitly quantified separately from the hardware sales in the Q2 2025 results, as the reported $2.0 million revenue is generally attributed to the PoC product sales. The future revenue from software subscriptions and licensing fees will be consolidated under the Core Gaming structure, which is the main engine for the $100 million target.

Finance: draft 13-week cash view by Friday.