Highlights

    • Q2 revenue and EPS were in line with our forecasts. Revenue was up 179% YoY (116% YoY in Q1). EPS improved YoY, from -$29 to -$3.
    • Revenue growth came from the company’s flagship product (SD7: a next-gen rugged handheld device), launched in Q2-2022
    • Last month, SYTA secured its largest single order for $1.4M. The company has announced $6.1M in orders YTD, already surpassing its full-year sales of $6M in 2022
    • In the coming months, SYTA is launching a new version of the SD7, which will have additional features, including a body camera.
    • The company has been gaining traction in new sectors, notably waste management and education. Note that SYTA’s devices find utility across diverse user groups, including first responders, government agencies, public utilities, delivery companies, truckers, and security firms.
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