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 reports developments in cyber-hardened, rapid-deployment networking solutions for IoT and broadband applications. Company news centers on hybrid fiber-copper and hybrid-fiber Ethernet deployments that use existing infrastructure to extend fiber-grade connectivity across intelligent transportation systems, rail networks, defense sites, utilities, telecom and other critical-infrastructure environments.
Recurring updates include new and follow-on customer orders, municipal and state transportation projects, trackside network expansions, federal and defense deployments, and changes in the trading venue for ASNS common stock, including its move to the OTCQB Venture Market.
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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.