Actelis Networks Reports First Quarter 2025 Financial Results With Stable Revenues Alongside Increased Global Partners Coverage And Operational Efficiency
- Gross margin expanded to 35% from 30% year-over-year - Operating loss improved to $1.81 million from $1.87 million - Net loss per share decreased to $(0.22) from $(0.50), a 56% improvement - Strengthened balance sheet with shareholders' equity of $2.61 million
The company secured new orders across the Nordic region, Hungary, US, UK, and Japan, focusing on three main business areas: Federal and Military, Multi-Dwelling Units, and Intelligent Transportation Systems. Notable achievements include military base modernization projects, municipal infrastructure upgrades, and partnerships with global distributors and integrators.
- Margine lordo aumentato al 35% dal 30% su base annua - Perdita operativa ridotta a 1,81 milioni di dollari da 1,87 milioni - Perdita netta per azione diminuita a $(0,22) da $(0,50), con un miglioramento del 56% - Rafforzamento del bilancio con un patrimonio netto di 2,61 milioni di dollari
L’azienda ha ottenuto nuovi ordini nelle regioni nordiche, Ungheria, Stati Uniti, Regno Unito e Giappone, concentrandosi su tre principali settori: Federale e Militare, Edifici Residenziali Multipli e Sistemi di Trasporto Intelligenti. Tra i risultati degni di nota figurano progetti di ammodernamento di basi militari, aggiornamenti delle infrastrutture municipali e collaborazioni con distributori e integratori globali.
- Margen bruto ampliado al 35% desde el 30% interanual - Pérdida operativa mejorada a 1,81 millones de dólares desde 1,87 millones - Pérdida neta por acción reducida a $(0,22) desde $(0,50), una mejora del 56% - Balance fortalecido con un patrimonio neto de 2,61 millones de dólares
La compañía aseguró nuevos pedidos en la región nórdica, Hungría, EE.UU., Reino Unido y Japón, enfocándose en tres áreas principales de negocio: Federal y Militar, Unidades Multifamiliares y Sistemas de Transporte Inteligente. Logros destacados incluyen proyectos de modernización de bases militares, mejoras en infraestructuras municipales y asociaciones con distribuidores e integradores globales.
- 연간 대비 35%로 확대된 총이익률 (이전 30%) - 영업손실이 181만 달러로 개선 (이전 187만 달러) - 주당 순손실이 $(0.22)로 감소 (이전 $(0.50)), 56% 개선 - 261만 달러의 자본총계로 재무구조 강화
회사는 노르딕 지역, 헝가리, 미국, 영국, 일본에서 신규 주문을 확보했으며, 연방 및 군사, 다세대 주택, 지능형 교통 시스템 세 가지 주요 사업 분야에 집중하고 있습니다. 주요 성과로는 군사 기지 현대화 프로젝트, 지방 인프라 개선, 글로벌 유통업체 및 통합업체와의 파트너십이 포함됩니다.
- Marge brute étendue à 35% contre 30% en glissement annuel - Perte d'exploitation réduite à 1,81 million de dollars contre 1,87 million - Perte nette par action diminuée à $(0,22) contre $(0,50), soit une amélioration de 56% - Renforcement du bilan avec des capitaux propres de 2,61 millions de dollars
L'entreprise a obtenu de nouvelles commandes dans la région nordique, en Hongrie, aux États-Unis, au Royaume-Uni et au Japon, en se concentrant sur trois principaux secteurs d'activité : Fédéral et Militaire, Immeubles collectifs et Systèmes de transport intelligents. Parmi les réalisations notables figurent des projets de modernisation de bases militaires, des mises à niveau d'infrastructures municipales et des partenariats avec des distributeurs et intégrateurs mondiaux.
- Bruttomarge stieg auf 35% von 30% im Jahresvergleich - Operativer Verlust verbesserte sich auf 1,81 Millionen US-Dollar von 1,87 Millionen - Nettoverlust je Aktie sank auf $(0,22) von $(0,50), eine Verbesserung um 56% - Stärkung der Bilanz mit einem Eigenkapital von 2,61 Millionen US-Dollar
Das Unternehmen sicherte sich neue Aufträge in der nordischen Region, Ungarn, den USA, Großbritannien und Japan und konzentriert sich auf drei Hauptgeschäftsbereiche: Bundes- und Militärbereich, Mehrfamilienhäuser und Intelligente Verkehrssysteme. Bemerkenswerte Erfolge umfassen die Modernisierung von Militärstützpunkten, kommunale Infrastrukturverbesserungen sowie Partnerschaften mit globalen Distributoren und Integratoren.
- Gross margin improved to 35% from 30% year-over-year
- Operating loss reduced by 3% to $1.81M from $1.87M
- Net loss per share improved 56% to $(0.22) from $(0.50)
- Strengthened balance sheet with $2.61M shareholders' equity, maintaining Nasdaq compliance
- 23% increase in North America revenues
- Operating expenses decreased 1.5% to $2.06M
- Significant reduction in interest expenses due to becoming nearly debt-free
- Flat revenues at $0.72M compared to Q1 2024
- 31% decline in EMEA region revenues
- Continued operating losses of $1.81M despite improvements
- Increased R&D expenses to $681K from $647K
- Higher sales and marketing expenses at $666K vs $627K
Insights
Actelis shows marginal operational improvements despite flat revenue, with better margins but continued substantial losses.
Actelis Networks' Q1 2025 results present a mixed picture that deserves careful examination. The company maintained essentially flat revenue at
The gross margin improvement from
Cost discipline appears solid with operating expenses decreasing by
However, investors should note that despite these incremental improvements, Actelis continues to operate with substantial losses. The quarterly net loss of
The company's efforts to expand its global footprint through new partnerships in Nordic regions, Hungary, Japan, and military contracts in the US show potential for future growth. The focus on three key verticals – Federal/Military, Multi-Dwelling Units, and Intelligent Transportation Systems – provides some strategic clarity, but the company acknowledges Q1 was focused on "growing the pipeline" rather than immediate sales results.
The strengthened balance sheet with shareholders' equity at
Strategic focus on growing deal pipeline and high-margin wins drive gross margin expansion to
FREMONT, Calif., May 13, 2025 (GLOBE NEWSWIRE) -- Actelis Networks, Inc. (NASDAQ: ASNS) ("Actelis" or the "Company"), a market leader in cyber-hardened, rapid deployment networking solutions for IoT and broadband applications, today reported financial results for the first quarter ended March 31, 2025.
"Our first quarter results are driven by both the continued execution of our focus on growing our pipeline for the remainder of the year, particularly in Federal, Military, our Multi-Dwelling Units business and in Intelligent Transportation, as well as on delivering improved margins and operational efficiency while working on the expansion of our presence in those key markets," said Tuvia Barlev, Chairman and CEO of Actelis. "We're particularly encouraged by our growing global footprint with this quarter seeing new orders from across the Nordic region, Hungary as well as others from the US, UK and Japan. These new orders validate the value proposition of our cyber-hardened, rapid deployment networking solutions and solidifies new business relationships we have established with major partners, integrators and distributors operating globally in NA, Europe, and Japan. Our ability to provide immediate fiber-grade connectivity over existing infrastructure, combined with our industry-leading security capabilities, continues to resonate strongly with customers seeking rapid, cost-effective solutions, enabling modernization and security for mission critical operations. We are properly focused on our growth areas and are geared towards an exciting year ahead."
First Quarter 2025 Financial Highlights:
- Stable Revenues: Revenues were flat vs. the first three months ending March 31, 2024 at
$0.72 million . Typically a lighter quarter seasonally, driven by the focus on growing the pipeline in advance of the remainder of the year. - Better Gross Margin: Gross margin improved to
35% for the first quarter ended March 31, 2025, compared to30% for the first quarter ended March 31, 2024, reflecting higher gross margin across Federal and Military, higher US regional revenue weight, while maintaining operating cost discipline. - Operating expenses: 2.06 million for the three months ended March 31, 2025,
1.5% lower than$2.09 million for the three months ended March 31, 2024, reflecting the consistent efforts to reduce expenses. - Reduced Operating Loss: Operating loss improved to
$1.81 million for the first quarter ended March 31, 2025, compared to$1.87 million in the year-ago period or a3% improvement, driven by enhanced gross margins and continued expense control measures. - Strengthened Balance Sheet: The Company successfully improved its capital position during the quarter, bolstering shareholders' equity to
$2.61 million , maintaining compliance with Nasdaq listing requirements. - Improved Net Loss Per Share: Net loss per share decreased to
$(0.22) for the first quarter ended March 31, 2025, compared to$(0.50) in the year-ago period, a56% improvement.
Recent Business and Operational Highlights:
- Continued focus on our three main business areas of Federal and Military, Multi-Dwelling Units (MDU) and Intelligent Transportation Systems (ITS). Attention is particularly given to growing the pipeline in advance of the remainder of the year.
- Global partners signed-up: Engaged with multi-billion Dollar partners - one global reseller and distributor, one multi-national pan European integrator and one Asian based multi-national large manufacturer and distributor to the transportation industry, generating opportunities for our ITS markets.
- Progressed in resource strengthening: In our target verticals’ sales and marketing, as well as in executing our off-shore, outsource strategy for better and lower cost operations, impacting R&D and G&A.
- Military wins: Received new orders to deliver advanced GigaLine 800 (GL800) networking solution to help multi-billion dollar federal contractor modernize and cyber-harden military bases’ operations for barracks, information centers, and other base-wide installations.
- Nordic Municipal Expansion: Secured a new order to help modernize the communications infrastructure for a major city in the Nordic region, the second largest city in a prominent Nordic country with over 300,000 residents.
- Hungarian Utility Project: Received a follow-on order from a Hungarian utility provider to support the continued modernization of its communications network, building upon the Company's previously announced engagement.
- Japanese Market Growth: Received a new order to supply advanced networking technology to support critical infrastructure modernization in Japan through a leading Japanese distributor and developer of communications equipment.
- Continued Military veteran consulting helps attract significant attention and build pipeline of opportunities in various DoD arms, particularly in the Air-Force
- Pan-European sales presence expanding: MDU, ITS large pipeline opportunities progressing with agents deployed in various countries (Italy, Germany, France, UK, Finland, Italy and Poland)
- Multi Dwelling Unit products completing successful trials and starting initial deployments with multiple carriers, ISP, and developers in multiple countries.
Yoav Efron, Deputy CEO and CFO of Actelis remarked: "We continue to strengthen our financial position through disciplined cost and expense management and strategic capital deployment. Our efforts to optimize operations are yielding results as seen in our improved margins and reduced expenses while effectively doing more in the market. We significantly decreased interest expenses as a result of becoming nearly debt free. We continue to focus on growing our recurring revenues and driving further margin expansion through our software and services as well as more profitable verticals’ focus.”
Fiscal First Quarter 2025 Financial Results:
Revenues for the three months ended March 31, 2025, amounted to
Cost of revenues for the three months ended March 31, 2025, amounted to
Gross profit for the three months ended March 31, 2025, amounted to
Research and development expenses for the three months ended March 31, 2025, amounted to
Sales and marketing expenses for the three months ended March 31, 2025, amounted to
General and administrative expenses for the three months ended March 31, 2025, amounted to
Operating loss for the three months ended March 31, 2025, was
Financial expenses and interest expenses for the three months ended March 31, 2025, were
Net loss for the three months ended March 31, 2025, was
Adjusted EBITDA loss, a non-GAAP measurement of operating performance (reconciled below to Net Loss), for the three months ended March 31, 2025, was
About Actelis Networks, Inc.
Actelis Networks, Inc. (NASDAQ: ASNS) is a market leader in hybrid fiber-copper, cyber-hardened networking solutions for rapid deployment in wide-area IoT applications, including government, ITS, military, utility, rail, telecom, and campus networks. Actelis’ innovative portfolio offers fiber-grade performance with the flexibility and cost-efficiency of hybrid fiber-copper networks. Through its “Cyber Aware Networking” initiative, Actelis also provides AI-based cyber monitoring and protection for all edge devices, enhancing network security and resilience. For more information, please visit www.actelis.com.
Use of Non-GAAP Financial Information
Non-GAAP Adjusted EBITDA, and backlog of open orders are non-GAAP financial measures. In addition to reporting financial results in accordance with GAAP, we provide non-GAAP operating results adjusted for certain items, including: financial expenses, which are interest, financial instrument fair value adjustments, exchange rate differences of assets and liabilities, stock based compensation expenses, depreciation and amortization expense, tax expense, and impact of development expenses ahead of product launch. We adjust for the items listed above and show non-GAAP financial measures in all periods presented, unless the impact is clearly immaterial to our financial statements.
Cautionary Statement Concerning Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. Forward-looking statements are not historical facts, and are based upon management’s current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management’s expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at http://www.sec.gov.
Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Actelis is not responsible for the contents of third-party websites.
Contact
ARX | Capital Markets Advisors
North American Equities Desk
actelis@arxadvisory.com
-Financial Tables to Follow-
ACTELIS NETWORKS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(U. S. dollars in thousands except for share and per share amounts)
| March 31, 2025 | December 31, 2024 | |||||||
| Assets | ||||||||
| CURRENT ASSETS: | ||||||||
| Cash and cash equivalents | 1,122 | 1,967 | ||||||
| Restricted cash equivalents | 302 | 300 | ||||||
| Trade receivables, net of allowance for credit losses of | 1,234 | 1,616 | ||||||
| Inventories | 2,508 | 2,436 | ||||||
| Prepaid expenses and other current assets, net of allowance for doubtful debts of | 681 | 584 | ||||||
| TOTAL CURRENT ASSETS | 5,847 | 6,903 | ||||||
| NON-CURRENT ASSETS: | ||||||||
| Property and equipment, net | 35 | 38 | ||||||
| Prepaid expenses and other | 538 | 492 | ||||||
| Restricted bank deposits | 91 | 91 | ||||||
| Severance pay fund | 201 | 205 | ||||||
| Operating lease right of use assets | 310 | 410 | ||||||
| Long-term deposits | 85 | 86 | ||||||
| TOTAL NON-CURRENT ASSETS | 1,260 | 1,322 | ||||||
| TOTAL ASSETS | 7,107 | 8,225 | ||||||
F-3
ACTELIS NETWORKS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS (continued)
UNAUDITED
(U. S. dollars in thousands)
| March 31, 2025 | December 31, 2024 | |||||||
| Liabilities, Mezzanine Equity and shareholders’ equity | ||||||||
| CURRENT LIABILITIES: | ||||||||
| Credit line | 444 | 774 | ||||||
| Short-term loans | 75 | - | ||||||
| Trade payables | 903 | 982 | ||||||
| Deferred revenues | 281 | 246 | ||||||
| Employee and employee-related obligations | 738 | 688 | ||||||
| Accrued royalties | 520 | 673 | ||||||
| Current maturities of operating lease liabilities | 298 | 415 | ||||||
| Other current liabilities | 481 | 805 | ||||||
| TOTAL CURRENT LIABILITIES | 3,740 | 4,583 | ||||||
| NON-CURRENT LIABILITIES: | ||||||||
| Long-term loan | 150 | 150 | ||||||
| Deferred revenues | 69 | 92 | ||||||
| Accrued severance | 226 | 229 | ||||||
| Other long-term liabilities | 116 | 186 | ||||||
| TOTAL NON-CURRENT LIABILITIES | 561 | 657 | ||||||
| TOTAL LIABILITIES | 4,301 | 5,240 | ||||||
| COMMITMENTS AND CONTINGENCIES (Note 5) | ||||||||
| MEZZANINE EQUITY | ||||||||
| Redeemable convertible preferred stock - | - | - | ||||||
| WARRANTS TO PLACEMENT AGENT | 228 | 228 | ||||||
| SHAREHOLDERS’ EQUITY: | ||||||||
| Common stock, | 1 | 1 | ||||||
| Non-voting common stock, | - | - | ||||||
| Additional paid-in capital | 48,499 | 46,818 | ||||||
| Accumulated deficit | (45,922 | ) | (44,062 | ) | ||||
| TOTAL SHAREHOLDERS’ EQUITY | 2,578 | 2,757 | ||||||
| TOTAL LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ EQUITY | 7,107 | 8,225 | ||||||
The accompanying notes are an integral part of these condensed consolidated financial statements (Unaudited).
F-4
ACTELIS NETWORKS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
(UNAUDITED)
(U. S. dollars in thousands)
| Three months ended March 31, | ||||||||
| 2025 | 2024 | |||||||
| REVENUES | 721 | 726 | ||||||
| COST OF REVENUES | 470 | 506 | ||||||
| GROSS PROFIT | 251 | 220 | ||||||
| OPERATING EXPENSES: | ||||||||
| Research and development expenses | 681 | 647 | ||||||
| Sales and marketing expenses | 666 | 627 | ||||||
| General and administrative expenses | 716 | 817 | ||||||
| TOTAL OPERATING EXPENSES | 2,063 | 2,091 | ||||||
| OPERATING LOSS | (1,812 | ) | (1,871 | ) | ||||
| Interest expense | (34 | ) | (207 | ) | ||||
| Other Financial income (expense), net | (14 | ) | 92 | |||||
| NET COMPREHENSIVE LOSS FOR THE PERIOD | (1,860 | ) | (1,986 | ) | ||||
| Net loss per share attributable to common shareholders – basic and diluted | $ | (0.22 | ) | $ | (0.50 | ) | ||
| Weighted average number of common stocks used in computing net loss per share – basic and diluted | 8,520,110 | 3,978,828 | ||||||
The accompanying notes are an integral part of these condensed consolidated financial statements (Unaudited).
F-5
ACTELIS NETWORKS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF MEZZANINE EQUITY AND SHAREHOLDERS’ EQUITY
(UNAUDITED)
U.S. dollars in thousands (except number of shares)
| Redeemable Convertible Preferred Stock | Warrants To Placement Agent | Common Stock | Non-voting Common Stock | Additional | Total | |||||||||||||||||||||||||||||||
| Three months ended | Amount | Amount | Number of shares | Amount | Number of shares | Amount | paid-in capital | Accumulated deficit | shareholders’ equity | |||||||||||||||||||||||||||
| BALANCE AS OF JANUARY 1, 2024 | - | 159 | 3,007,745 | 1 | - | - | 39,916 | (39,688 | ) | 229 | ||||||||||||||||||||||||||
| Share based compensation | - | - | - | - | - | - | 89 | - | 89 | |||||||||||||||||||||||||||
| Vesting of RSUs | - | - | 2,499 | * | - | - | (* | ) | - | - | ||||||||||||||||||||||||||
| Net comprehensive loss for the period | - | - | - | - | - | - | - | (1,986 | ) | (1,986 | ) | |||||||||||||||||||||||||
| BALANCE AS OF MARCH 31, 2024 | - | 159 | 3,010,244 | 1 | - | - | 40,005 | (41,674 | ) | (1,668 | ) | |||||||||||||||||||||||||
| BALANCE AS OF JANUARY 1, 2025 | - | 228 | 7,623,159 | 1 | - | - | 46,818 | (44,062 | ) | 2,757 | ||||||||||||||||||||||||||
| Share based compensation | - | - | - | - | - | - | 79 | - | 79 | |||||||||||||||||||||||||||
| Vesting of RSUs | - | - | 1,665 | * | - | - | (*) | - | - | |||||||||||||||||||||||||||
| Issuance of common stock, net of offering costs | - | - | 1,394,934 | * | - | - | 1,580 | 1,580 | ||||||||||||||||||||||||||||
| Warrants to lender | - | - | - | - | - | - | 22 | - | 22 | |||||||||||||||||||||||||||
| Net comprehensive loss for the period | - | - | - | - | - | - | - | (1,860 | ) | (1,860 | ) | |||||||||||||||||||||||||
| BALANCE AS OF March 31, 2025 | - | 228 | 9,019,758 | 1 | - | - | 48,499 | (45,922 | ) | 2,578 | ||||||||||||||||||||||||||
| * | Represents an amount less than |
The accompanying notes are an integral part of these condensed consolidated financial statements (Unaudited)
F-6
ACTELIS NETWORKS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
| Three months ended March 31, | ||||||||
| 2025 | 2024 | |||||||
| U.S. dollars in thousands | ||||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||
| Net loss for the period | (1,860 | ) | (1,986 | ) | ||||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
| Depreciation | 6 | 4 | ||||||
| Inventories write-downs | 5 | - | ||||||
| Financial expenses (income) | 15 | (131 | ) | |||||
| Share-based compensation | 79 | 89 | ||||||
| Financial income from short and long term bank deposit | - | (1 | ) | |||||
| Changes in operating assets and liabilities: | ||||||||
| Trade receivables | 382 | 131 | ||||||
| Net change in operating lease assets and liabilities | (22 | ) | 6 | |||||
| Inventories | (76 | ) | (83 | ) | ||||
| Prepaid expenses and other current assets | (94 | ) | 91 | |||||
| Trade payables | (128 | ) | 490 | |||||
| Deferred revenues | 11 | (87 | ) | |||||
| Advances from reseller | - | 1,143 | ||||||
| Other current liabilities | (488 | ) | 131 | |||||
| Other long-term liabilities | (4 | ) | - | |||||
| Net cash used in operating activities | (2,174 | ) | (203 | ) | ||||
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||
| Short term deposits | 1 | - | ||||||
| Purchase of property and equipment | - | (1 | ) | |||||
| Net cash provided by (used in) investing activities | 1 | (1 | ) | |||||
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||
| Proceeds from issuance common stock | 1,750 | - | ||||||
| Offering cost from issuance of common stock | (170 | ) | - | |||||
| Credit lines with bank, net | (324 | ) | 574 | |||||
| Proceeds from short term loans | 75 | - | ||||||
| Early repayment of long term loan | - | (545 | ) | |||||
| Repayment of long-term loan | - | (193 | ) | |||||
| Net cash provided by (used in) financing activities | 1,331 | (164 | ) | |||||
| EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS | (1 | ) | (2 | ) | ||||
| DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS | (843 | ) | (370 | ) | ||||
| BALANCE OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS AT BEGINNING OF THE PERIOD | 2,267 | 5,515 | ||||||
| BALANCE OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS AT END OF THE PERIOD | 1,424 | 5,145 | ||||||
The accompanying notes are an integral part of these condensed consolidated financial statements (Unaudited).
F-7
ACTELIS NETWORKS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (continued)
(UNAUDITED)
| March 31 | ||||||||
| 2025 | 2024 | |||||||
| U.S. dollars in thousands | ||||||||
| RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH: | ||||||||
| Cash and cash equivalents | 1,122 | 1,211 | ||||||
| Restricted cash equivalents, current | 302 | 1,392 | ||||||
| Restricted cash and cash equivalents, non-current | - | 2,542 | ||||||
| Total cash, cash equivalents and restricted cash | 1,424 | 5,145 | ||||||
| Three months ended March 31, | ||||||||
| 2025 | 2024 | |||||||
| U.S. dollars in thousands | ||||||||
| SUPPLEMENTARY DISCLOSURE OF CASH FLOW INFORMATION: | ||||||||
| Cash paid for interest | 167 | 273 | ||||||
| SUPPLEMENTARY INFORMATION ON INVESTING AND FINANCING ACTIVITIES NOT INVOLVING CASH FLOWS: | ||||||||
| Warrant to lender | 22 | - | ||||||
| Other non-current assets | 50 | - | ||||||
The accompanying notes are an integral part of these condensed consolidated financial statements (Unaudited).
F-8
Non-GAAP Financial Measures
| (U.S. dollars in thousands) | Three months Ended March 31, 2025 | Three months Ended March 31, 2024 | ||||||
| Revenues | $ | 721 | $ | 726 | ||||
| GAAP net loss | (1,860 | ) | (1,986 | ) | ||||
| Interest Expense | $ | 34 | $ | 207 | ||||
| Other financial (income) expenses, net | 14 | (92 | ) | |||||
| Tax Expense | 32 | 17 | ||||||
| Fixed asset depreciation expense | 6 | 4 | ||||||
| Stock based compensation | 79 | 89 | ||||||
| Research and development, capitalization | - | - | ||||||
| Other one time costs and expenses | - | (26 | ) | |||||
| Non-GAAP Adjusted EBITDA | (1,695 | ) | $ | (1,787 | ) | |||
| GAAP net loss margin | (257.97 | )% | (273.55 | )% | ||||
| Adjusted EBITDA margin | (235.09 | )% | (246.14 | )% | ||||
FAQ
What were ASNS's Q1 2025 revenue and gross margin?
How much did Actelis Networks (ASNS) reduce its net loss per share in Q1 2025?
What are the main business areas ASNS is focusing on in 2025?
Which geographical markets did ASNS expand into during Q1 2025?
What is Actelis Networks' (ASNS) current shareholders' equity?
