Actelis Receives Software and Service Contract Renewal of Nearly $1.5 Million From Major North American Customer
Actelis Networks, Inc. (NASDAQ:ASNS) has secured a software and service contract renewal worth nearly $1.5 million from a major North American customer. The agreement primarily covers licensed access to Actelis' Element Management Software System (EMS), a scalable platform for remote network management and device provisioning. The EMS solution offers:
- Automated configuration and software upgrades
- Robust configuration management
- Real-time event notifications and email alerts
- Support for various network configurations
- Integration with third-party systems
The contract also includes technical support and extended warranty services. This renewal follows recent wins in the military, energy, and intelligent transportation sectors, showcasing Actelis' ability to support large-scale critical IoT infrastructure networks.
- Secured a $1.5 million contract renewal from a major North American customer
- Demonstrates customer trust and satisfaction with Actelis' software and services
- Provides recurring revenue through software licensing and support services
- Showcases ability to support large-scale critical networks across multiple states
- Recent wins in military, energy, and intelligent transportation sectors indicate market expansion
- None.
Actelis Networks' recent contract renewal of nearly
Short-term implications include an immediate boost to revenue, which could favorably impact upcoming quarterly earnings. Long-term, this renewal may enhance profitability due to recurring revenue and potential upsell opportunities for additional services or more extensive network solutions.
However, investors should note that the contract size is relatively modest compared to the company's overall financials. While it adds value and demonstrates client trust, it may not be transformative. Additionally, the deal's reliance on existing technology rather than new, innovative solutions suggests stability but not necessarily remarkable growth potential.
Understanding terms like Element Management Software (EMS) is crucial. EMS is a system that manages a network's functioning by enabling remote monitoring, configuration and upgrades. This minimizes the need for on-site technical support, reducing operational costs and increasing efficiency.
Investors may find reassurance in the company's ability to secure renewals, yet should remain cautious about expecting this alone to drive significant stock value increases.
Actelis' EMS platform is a cornerstone of their offering. This scalable and flexible system allows clients to manage diverse network configurations effectively. By providing tools for automated configuration and real-time monitoring, Actelis helps customers reduce their operational overheads and increase network reliability.
From a technical perspective, this renewal reinforces the platform's effectiveness and adaptability. The ability to integrate with third-party systems offers customers greater flexibility, which is a significant selling point. These features are particularly relevant in sectors requiring high reliability and robust cyber-security, such as military and energy.
While the EMS system's capabilities are impressive, it’s critical to note that continuous innovation will be essential to maintain and grow this client base. The industry is moving rapidly and competitors are constantly developing new solutions. Thus, relying heavily on existing technology may not be sustainable in the long run.
For retail investors, understanding the technological backing of a company's services can be enlightening. Knowing that Actelis’ EMS enables remote management and supports various network topologies shows the depth and flexibility of their technology, which is a positive indicator of the company’s technical leadership.
This contract renewal is a strategic win for Actelis, especially in the competitive landscape of networking solutions for IoT applications. The recurring nature of software and service agreements often leads to higher customer lifetime value and better margins compared to hardware sales.
The focus on IoT applications in critical sectors such as military and energy indicates that Actelis is well-positioned in markets that require high security and reliability. These sectors are expected to grow significantly, driven by increasing connectivity and the need for robust, secure network infrastructure.
However, investors should be aware that long-term growth will depend on Actelis' ability to expand its customer base and innovate in response to evolving market demands. The market for IoT networking solutions is highly competitive, with several players vying for a share. Therefore, while this renewal is a positive sign, it should be viewed within the context of the broader competitive landscape.
For a retail investor, understanding these dynamics is crucial. The ability of Actelis to secure renewals like this one speaks to customer satisfaction and trust, but ongoing success will require continuous technological advancement and strategic market positioning.
FREMONT, Calif., July 15, 2024 (GLOBE NEWSWIRE) -- Actelis Networks, Inc. (NASDAQ:ASNS) (“Actelis” or the “Company”), a market leader in cyber-hardened, rapid deployment networking solutions for IoT applications, today announced that it has received an approximately
This agreement provides software and support for a large network across several states. The core of the agreement is licensed access to Actelis’ Element Management Software System (EMS), a highly scalable platform that provides a host of tools to remotely and securely monitor and manage network devices, and remotely provision new devices for fast deployment. Actelis’ EMS solution enables fast “time to service” with automated configuration and software upgrades, as well as offering robust configuration management, helping customers easily manage inventory, firmware, and software backups. EMS also gives customers all the tools they need to monitor the status of their networks including real-time event notifications, email alerts, and a wide range of reports.
Actelis’ EMS supports a variety of network configurations including ring, star, and drop and continue, and gives clients multiple interfaces with which to manage their network, such as network tree and topology map views. The system can be easily integrated with third party network management systems to give customers even more flexibility to monitor and support their networks.
In addition to EMS, the agreement provides the customer with technical support from Actelis’ expert technical team, as well as extended warranty services.
“Once again, this renewal agreement demonstrates the trust that major customers have in us, and the value we bring to their operation,” said Tuvia Barlev, Chairman and CEO of Actelis. “Our software technology and best-in-class customer service has allowed us to achieve high customer satisfaction for some of the largest critical network operators around the world.”
About Actelis Networks, Inc.
Actelis Networks, Inc. (NASDAQ: ASNS) is a market leader in cyber-hardened, rapid-deployment networking solutions for wide-area IoT applications including federal, state and local government, ITS, military, utility, rail, telecom and campus applications. Actelis’ unique portfolio of hybrid fiber-copper, environmentally hardened aggregation switches, high density Ethernet devices, advanced management software and cyber-protection capabilities, unlocks the hidden value of essential networks, delivering safer connectivity for rapid, cost-effective deployment. For more information, please visit www.actelis.com.
Forward-looking Statements
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results to differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company's filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
Media Contact:
Sean Renn
Global VP Marketing & Communications
srenn@actelis.com
Investor Relations Contact:
Actelis Networks, Inc.
ASNS@actelis.com
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