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Siyata Mobile Q1 loss widens YOY

Siyata Mobile Inc. said its normalized net income for the first quarter came to a loss of C$742,110, compared with a loss of C$12,610 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 27.3% from negative 0.5% in the year-earlier period.

Total revenue climbed 17.4% on an annual basis to C$2.7 million from C$2.3 million, and total operating expenses increased 30.4% on an annual basis to C$3.0 million from C$2.3 million.

Reported net income totaled a loss of C$1.2 million, or a loss of 2 cents per share, compared to a loss of C$20,170 in the year-earlier period.