Siyata Mobile Inc. (SYTA): Business Model Canvas [Jan-2025 Mise à jour]

Dans le paysage rapide des technologies de communication mobile, Siyata Mobile Inc. (SYTA) apparaît comme une force pionnière, transformant la façon dont les entreprises et les organisations de sécurité publique se connectent et collaborent. En créant méticuleusement des appareils mobiles robustes et des solutions de communication innovantes, cette entreprise dynamique a sculpté un créneau unique dans la fourniture d'une technologie spécialisée qui résiste aux environnements de travail les plus difficiles. Leur toile complète du modèle commercial révèle une approche stratégique qui va au-delà de la technologie mobile traditionnelle, offrant des plateformes intégrées qui redéfinissent l'efficacité de la communication pour les industries allant du transport et de la logistique aux équipes d'intervention d'urgence.

Siyata Mobile Inc. (SYTA) - Modèle d'entreprise: partenariats clés

Opérateurs sans fil et opérateurs de réseaux mobiles

Siyata Mobile a établi des partenariats avec les opérateurs sans fil suivants:

Transporteur	Détails du partenariat	Couverture réseau
AT&T	Certification de l'appareil et compatibilité réseau	États-Unis à l'échelle nationale
Bell Canada	Solutions de distribution et d'entreprise	Canada à l'échelle nationale

Fabricants de matériel technologique

Les principaux partenariats de fabrication de matériel comprennent:

• Qualcomm - Intégration des technologies du chipse et de la communication
• Mediatek - Développement de processeurs mobiles

Partenaires de développement de logiciels

Partenaire	Focus logiciel	Portée de collaboration
Google	Intégration Android OS	Solutions de mobilité d'entreprise
Microsoft	Compatibilité de la plate-forme cloud	Outils de communication d'entreprise

Fournisseurs d'infrastructures de télécommunications

Partenariats d'infrastructure:

• Nokia Networks - Support d'infrastructure 4G / 5G
• Ericsson - Compatibilité des équipements réseau

Intégrateurs de solutions de mobilité d'entreprise

Intégrateur	Type de solution	Segment de marché
Verizon Business	Solutions mobiles d'entreprise	GRANDES clients d'entreprise
Rogers Communications	Systèmes de communication de la sécurité publique	Services gouvernementaux et d'urgence

Siyata Mobile Inc. (SYTA) - Modèle d'entreprise: Activités clés

Concevoir des appareils de communication mobiles robustes

Siyata Mobile se concentre sur le développement d'appareils mobiles robustes spécialisés pour les marchés de la sécurité et de la sécurité publique. En 2023, la société a déclaré des investissements en développement d'appareils de 2,1 millions de dollars.

Catégorie d'appareil	Investissement annuel au développement	Marché cible
Dispositifs de communication de véhicule	$850,000	Premiers intervenants
Smartphones robustes	$750,000	Secteurs industriels
Terminaux push-talk	$500,000	Services d'urgence

Développer un logiciel de communication d'entreprise spécialisé

Le mobile Siyata alloue des ressources importantes au développement de logiciels pour les plateformes de communication.

• Budget annuel de développement de logiciels: 1,5 million de dollars
• Équipe d'ingénierie logicielle: 12 développeurs à temps plein
• Plateformes logicielles principales: UV350, UV500 Systèmes de communication

Fournir des solutions de communication push-to-talk (PTT)

Les solutions PTT représentent un segment commercial de base avec 3,2 millions de dollars de revenus en 2023.

Type de solution PTT	Revenus annuels	Clients principaux
Systèmes PTT d'entreprise	1,8 million de dollars	Grandes entreprises
PTT de sécurité publique	1,4 million de dollars	Agences gouvernementales

Systèmes de communication de véhicules de fabrication

La production du système de communication des véhicules est une activité critique pour Siyata Mobile.

• Installations de fabrication: 2 emplacements
• Capacité de production annuelle: 50 000 unités de communication de véhicules
• Investissement manufacturier en 2023: 1,7 million de dollars

Fournir des solutions technologiques mobiles personnalisées

Les services de personnalisation ont généré 2,5 millions de dollars de revenus en 2023.

Service de personnalisation	Revenus annuels	Focus de l'industrie
Solutions de gestion de la flotte	1,2 million de dollars	Transport
Personnalisation de la sécurité publique	$900,000	Services d'urgence
Solutions de communication industrielle	$400,000	Fabrication

Siyata Mobile Inc. (SYTA) - Modèle d'entreprise: Ressources clés

Brevets de technologie de communication propriétaire

En 2024, Siyata Mobile tient 7 brevets de technologie de communication active Enregistré auprès du Bureau des brevets et des marques des États-Unis.

Catégorie de brevet	Nombre de brevets	Durée de protection des brevets
Systèmes de communication de véhicules	3	Jusqu'en 2035
Communication de sécurité publique	2	Jusqu'en 2037
Technologie des appareils mobiles robuste	2	Jusqu'en 2036

Équipe d'ingénierie et de R&D

L'équipe d'ingénierie de Siyata Mobile comprend 24 professionnels à temps plein.

• Tapisseurs de doctorat: 5
• Titulaires de maîtres: 12
• Titulaires de baccalauréat: 7

Portfolio de propriété intellectuelle stratégique

Évaluation totale de la propriété intellectuelle: 3,2 millions de dollars.

Capacités de fabrication

Emplacement de fabrication	Capacité de production annuelle	Type de production
Taïwan	120 000 unités	Appareils mobiles robustes
Chine	85 000 unités	Terminaux de communication

Infrastructure de support technique

Taille de l'équipe de support technique: 18 spécialistes du soutien à temps plein.

• Couverture de support global 24/7
• Temps de réponse moyen: 37 minutes
• Langues de soutien: anglais, espagnol, français

Siyata Mobile Inc. (SYTA) - Modèle d'entreprise: propositions de valeur

Appareils mobiles robustes spécialisés pour les marchés d'entreprise

Spécifications de l'appareil UV350 de Siyata Mobile:

Spécification	Détails
Taille d'écran	5,5 pouces
Clôture de durabilité	IP68 imperméable
Capacité de la batterie	4000 mAh
Plage de température de fonctionnement	-20 ° C à 60 ° C

Solutions de communication améliorées pour les secteurs de la sécurité publique

Caractéristiques clés de la plate-forme de communication:

• Canaux de communication prioritaires
• Protocoles de transmission chiffrés
• Communication de groupe en temps réel

Plates-formes de communication push-talk intégrées

Métriques de connectivité de la plate-forme:

Métrique	Valeur
Couverture réseau	Couverture à 95% nord-américaine
Connexions utilisateur simultanées	Jusqu'à 250 utilisateurs
Latence	Moins de 300 millisecondes

Technologie mobile durable pour les environnements de travail difficiles

Statistiques de fiabilité de l'appareil:

• Résistance au test de chute: 1,8 mètre
• Résistance aux vibrations: certifié MIL-STD-810G
• Durée de vie opérationnelle: plus de 5 ans dans des conditions difficiles

Solutions complètes de mobilité pour la gestion de la flotte

Capitaires de plate-forme de gestion de flotte:

Fonctionnalité	Capacité
Suivi des véhicules	Surveillance GPS en temps réel
Analyse des performances du pilote	Reportage complet
Intégration de communication	Systèmes d'expédition sans couture

Siyata Mobile Inc. (SYTA) - Modèle d'entreprise: relations avec les clients

Assistance des ventes directes pour les clients d'entreprise

Depuis le quatrième trimestre 2023, Siyata Mobile Inc. a rapporté le soutien direct des ventes des clients d'entreprise en se concentrant sur les secteurs de la sécurité publique, des transports et des services publics.

Segment de clientèle	Niveau de soutien	Temps de réponse moyen
Sécurité publique	Touche élevée	2-4 heures
Transport	Toucher moyen	6-8 heures
Services publics	Soutien critique	1-2 heures

Services de consultation technique

Les services de consultation technique fournis par Siyata Mobile comprennent:

• Évaluation des infrastructures préalables
• Analyse de la compatibilité du réseau
• Stratégie d'intégration personnalisée

Prise en charge de l'implémentation personnalisée

Métriques de support de mise en œuvre pour 2023:

Type de service	Durée moyenne	Les clients servis
Intégration complète du système	45-60 jours	12 clients d'entreprise
Déploiement de système partiel	15-30 jours	24 clients d'entreprise

Mises à jour des logiciels et du micrologiciel en cours

Fréquence de mise à jour: Versions de logiciels trimestriels

• Cycle de mise à jour moyen: tous les 90 à 120 jours
• Conformité aux normes de sécurité de l'industrie
• Gestion automatique des patchs

Gestion de réussite client dédiée

Composition de l'équipe de réussite du client à partir de 2024:

Rôle d'équipe	Nombre de professionnels	Portefeuille de clients moyens
Sentiels de compte senior	4	5-7 clients d'entreprise
Spécialistes du support technique	8	10-12 clients d'entreprise

Siyata Mobile Inc. (SYTA) - Modèle d'entreprise: canaux

Équipe de vente directe

En 2024, l'équipe de vente directe de Siyata Mobile comprend 12 représentants des ventes à temps plein axés sur les marchés de la sécurité et de la sécurité publique.

Catégorie de canal de vente	Nombre de représentants	Segment du marché cible
Ventes d'entreprise	7	Gestion de la flotte commerciale
Ventes de sécurité publique	5	Réseaux de premiers répondeurs

Plateforme de commerce électronique en ligne

Siyata Mobile exploite une plate-forme de commerce électronique B2B dédiée avec les mesures suivantes:

• Trafic de site Web: 45 000 visiteurs uniques mensuels
• Taux de conversion en ligne: 3,2%
• Valeur de transaction moyenne: 4 750 $

Réseaux de distributeurs de télécommunications

Siyata Mobile maintient des partenariats avec 17 distributeurs de télécommunications en Amérique du Nord.

Région	Nombre de distributeurs	Volume de distribution annuel
États-Unis	9	12 500 unités
Canada	8	7 800 unités

Salons et conférences de l'industrie

En 2024, Siyata Mobile participe à 6 principaux événements de l'industrie:

• IWCE (International Wireless Communications Expo)
• Conférence internationale APCO
• CTIA Super Mobility
• Conférence des communications de la sécurité publique
• Sommet de transformation de la mobilité de l'entreprise
• Conférence de répondeurs FirstNet

Marketing numérique et génération de leads sur le Web

Métriques de performance du marketing numérique pour 2024:

Canal numérique	Impressions mensuelles	Taux de génération de leads
Liendin	85,000	2.1%
Publicités Google	120,000	1.8%
Webinaires de l'industrie	35,000	3.5%

Siyata Mobile Inc. (SYTA) - Modèle d'entreprise: segments de clientèle

Organisations de sécurité publique

Le mobile Siyata cible les organisations de sécurité publique avec des solutions de communication spécialisées.

Segment	Taille du marché	Clients potentiels
Services de police	Plus 18 000 agences en Amérique du Nord	Application de la loi municipale et de l'État
Services d'incendie	27 000 départements aux États-Unis	Services d'urgence urbains et ruraux

Sociétés de transport et de logistique

Dispositifs de communication spécialisés pour la gestion des flotte et la sécurité des conducteurs.

Segment	Véhicules de la flotte totale	Marché potentiel
Entreprise de camionnage	3,5 millions de camions commerciaux aux États-Unis	Transport long-courrier et régional
Services de livraison	1,2 million de véhicules de livraison	Provideurs de dernier mile et logistique

Construction et entreprises industrielles

• Appareils de communication robustes pour des environnements difficiles
• Solutions de coordination de la main-d'œuvre en temps réel
• Suivi de sécurité et de productivité

Segment de l'industrie	Total des entreprises	Besoins de communication
Construction	680 000 entreprises de construction	Communication du site d'emploi
Fabrication	290 000 installations de fabrication	Coordination opérationnelle

Agences gouvernementales

Secteurs gouvernementaux clés pour les solutions de communication:

• Agences fédérales
• Départements au niveau de l'État
• Unités du gouvernement municipal

Niveau du gouvernement	Clients potentiels totaux	Exigences de communication
Agences fédérales	430 départements fédéraux majeurs	Plateformes de communication sécurisées
Agences d'État	50 gouvernements des États	Solutions d'interopérabilité

Équipes d'intervention d'urgence

Dispositifs de communication spécialisés pour les scénarios de réponse critique.

Type de réponse	Total des équipes	Besoins de communication
Services médicaux d'urgence	21 000+ services d'ambulance	Coordination en temps réel
Recherche et sauvetage	3 500+ équipes spécialisées	Dispositifs de communication robustes

Siyata Mobile Inc. (SYTA) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice se terminant le 31 décembre 2023, Siyata Mobile Inc. a déclaré des dépenses de R&D de 2 153 000 $.

Exercice fiscal	Dépenses de R&D	Pourcentage de revenus
2023	$2,153,000	28.4%
2022	$1,879,000	25.6%

Coûts de fabrication et de production

Les coûts de fabrication totaux pour 2023 étaient de 4 687 000 $.

• Coûts de matériel direct: 2 345 000 $
• Coûts de main-d'œuvre directs: 1 456 000 $
• Fabrication des frais généraux: 886 000 $

Investissements de vente et de marketing

Les frais de vente et de marketing pour 2023 ont totalisé 3 214 000 $.

Canal de marketing	Allocation des dépenses
Marketing numérique	$1,087,000
Salons du commerce	$456,000
Compensation de l'équipe de vente	$1,671,000

Maintenance des infrastructures technologiques

Les coûts de maintenance des infrastructures technologiques pour 2023 étaient de 987 000 $.

• Services cloud: 345 000 $
• Licence de logiciel: 276 000 $
• Maintenance matérielle: 366 000 $

Acquisition du personnel et des talents

Le total des dépenses liées au personnel en 2023 s'élevait à 5 643 000 $.

Catégorie de personnel	Frais
Salaires de base	$4,123,000
Avantages	$876,000
Frais de recrutement	$644,000

Siyata Mobile Inc. (SYTA) - Modèle d'entreprise: Strots de revenus

Ventes de périphériques matériels

Pour l'exercice 2023, Siyata Mobile a déclaré un chiffre d'affaires de périphérique matériel de 3,47 millions de dollars.

Catégorie de produits	Revenus de 2023
Appareils ultra robustes	1,85 million de dollars
Dispositifs de communication sur véhicule	1,62 million de dollars

Frais de licence de logiciel

Les revenus de licences logicielles pour 2023 ont totalisé 0,92 million de dollars.

Services de communication basés sur l'abonnement

Le chiffre d'affaires de l'abonnement pour 2023 a atteint 1,25 million de dollars.

Type d'abonnement	Revenus de 2023
Plateforme de communication d'entreprise	0,75 million de dollars
Gestion des appareils mobiles	0,50 million de dollars

Développement de solutions personnalisées

Les revenus de développement de solutions personnalisés pour 2023 étaient de 0,68 million de dollars.

Contrats de support technique et de maintenance

Les revenus du contrat de soutien technique et de maintenance pour 2023 s'élevaient à 0,55 million de dollars.

Type de service d'assistance	Revenus de 2023
Contrats de soutien annuels	0,35 million de dollars
Services de garantie prolongés	0,20 million de dollars

Total des sources de revenus pour 2023: 6,82 millions de dollars

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.