Welcome to our dedicated page for Actelis Networks news (Ticker: ASNS), a resource for investors and traders seeking the latest updates and insights on Actelis Networks stock.
Actelis Networks, Inc. (ASNS) is a leading provider of high-performance broadband solutions over hybrid fiber-copper networks. With a focus on enterprise connectivity, residential IPTV, mobile backhaul, and IoT infrastructure, Actelis transforms existing infrastructures into strategic assets optimized for cost, time to market, reliability, and security. The company’s advanced technology harnesses both new fiber deployments and existing copper/coaxial lines to deliver secure, efficient, and rapid network solutions.
Actelis Networks is committed to enabling communication for Internet of Things (IoT) projects across vast areas, including cities, campuses, airports, military bases, roads, and rail systems. Their portfolio offers end-to-end network security, ensuring the protection of critical IoT data through state-of-the-art coding and encryption technologies. This makes their solutions not only cost-effective but also highly secure.
Recently, Actelis has shifted its strategic focus towards IoT markets, a move bolstered by their latest achievements, including certification from the US Department of Defense (DoD) and the National Institute of Standards and Technologies (NIST) for cybersecurity and interoperability. The company's new multi-dwelling unit (MDU) solutions, like the GigaLine 800 and 900 series, are designed for multi-gigabit connectivity, offering superior performance at reduced costs and faster deployment times compared to fiber-only options.
In 2023, Actelis reported revenues of $5.6 million, down from $8.8 million in 2022, a change mainly due to a shift from telco to IoT customers and project delays. Despite this, the company has continued to reduce operational costs and improve efficiency, preparing for potential growth in 2024. They have expanded their network of strategic partnerships, including collaborations with Netceed, Carahsoft, and Swarco, aimed at enhancing market coverage and operational efficiency.
Financially, Actelis saw a decrease in operating loss to $7.4 million in 2023 from $6.1 million in 2022. The net loss also decreased significantly to $6.3 million from $11.0 million in 2022, due to lower revenue and gross margin but offset by a reduction in financial expenses following the conversion of certain financial instruments during their IPO in 2022.
Looking ahead, the company is poised for growth through strategic acquisitions, such as the integration with Quality Industrial Corp. (QIND). This move is expected to expand Actelis' reach into new geographies and verticals, such as energy, utilities, and public safety, providing reliable, secure networking to enhance operational efficiencies.
Actelis Networks, Inc. (NASDAQ: ASNS) announced a 1-for-10 reverse stock split effective April 18, 2023, to comply with the Nasdaq minimum bid requirement of $1.00 per share under Listing Rule 5550(a)(2). This action is aimed at maintaining the Company's listing on the Nasdaq Global Capital Market. Trading under the adjusted basis began on April 19, 2023. The reverse stock split will affect all shareholders proportionally, with no change to their percentage ownership of the Common Stock. Actelis Networks specializes in cyber-hardened networking solutions for IoT applications across various sectors, including government and utilities.
Actelis Networks, Inc. (NASDAQ:ASNS) announced a significant deployment of its Hybrid Fiber-Copper switches in West Sacramento, CA, to enhance the city's traffic signal network. This project, which involves a partnership with Econolite, aims to improve traffic management amid the city's 68% population growth since 2000. The advanced traffic solution utilizes existing infrastructure, allowing for rapid deployment and efficient connectivity at a lower cost compared to new fiber installations. The initiative has already demonstrated success in reducing traffic delays and improving emergency response times. Actelis' technology is poised to further boost operational efficiency for city staff.
Actelis Networks (ASNS) reported a 3.3% increase in total revenue for FY 2022, reaching $8.8 million, driven by a 31% growth in IoT customer sales. Operating expenses rose significantly from $5.8 million in 2021 to $10.2 million in 2022, mainly due to public company costs. The net loss expanded to $11.0 million from $5.3 million year-over-year. Despite these hurdles, the gross margin held steady at 47%. The company appointed Tzachy Givaty as Regional VP for Asia-Pacific, aiming to enhance market presence. Notably, Actelis engaged with SITA and the City of San Jose for major contracts, indicating positive market traction.
Actelis Networks, Inc. (NASDAQ: ASNS) announced a conference call on March 29, 2023, at 4:30 p.m. Eastern to discuss its financial results for the fiscal year ending December 31, 2022. CEO Tuvia Barlev and CFO Yoav Efron will host the call where they will address the company's performance and outlook. Interested investors can join via toll-free U.S. dial-in at (800) 715-9871 or international dial-in at +1(646) 307-1963, using Conference ID: 5824707. A replay will be available until April 5, 2023. Actelis is a leader in rapid-deployment networking solutions for IoT applications, providing essential networking for various sectors including military, telecom, and government.
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