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.
Actelis Networks, Inc. (NASDAQ: ASNS) has announced a $1 million share repurchase program, reflecting the Board's confidence in the company's growth potential and commitment to enhancing shareholder value. The program allows for stock buybacks through various means, funded by existing cash balances. CEO Tuvia Barlev highlighted a disconnect between the current share price and the stock's fair value, linking the buyback to their growth trajectory and operational cash flow. There is no set termination date for this program, which may be adjusted as needed.
Actelis Networks (ASNS) announced its Q3 and nine-month financial results for 2022, revealing total revenue of $6.3 million, a 5% increase year-over-year. IoT customer sales surged 45% compared to the prior year. However, gross margin fell to 48.3% due to inflation and supply-chain issues. The company reported a net loss of $2.2 million for Q3, widening from $1.2 million a year earlier. Despite these challenges, Actelis has expanded its sales and marketing teams, enhancing its market presence while working to clear a backlog of $3.9 million in orders.
Actelis Networks (NASDAQ: ASNS) will hold a conference call on November 11, 2022, at 4:30 p.m. Eastern Time to discuss its financial results for the fiscal third quarter ending September 30, 2022. The call will be hosted by CEO Tuvia Barlev and CFO Yoav Efron. Interested parties 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 6957723. A replay of the conference will be available until November 18, 2022.
Actelis Networks has partnered with Norseman Defense Technologies to provide its networking solutions under the NASA SEWP US government-wide acquisition contract. This collaboration allows Actelis to offer its cyber-hardened, rapid deployment connectivity solutions to federal, state, and local government agencies, enhancing network reliability for mission-critical installations.
Actelis' solutions are designed for quick deployment, utilizing both fiber and copper lines, facilitating high-speed connectivity without extensive civil works.
Actelis Networks (NASDAQ: ASNS) has launched its new ML600DM product line, designed for rapid IoT networking deployment at Gigabit speeds with enhanced cyber-hardened security. This product family facilitates the integration of existing fiber, copper, or coaxial infrastructures, enabling quick and cost-effective IoT implementations across various sectors, including Smart Cities and utilities. The ML600DM series supports up to 10Gbps switching capacity and provides power feeding up to 90 Watts for IoT devices, significantly improving operational efficiency.
Actelis Networks (NASDAQ: ASNS) has been selected by San Jose to modernize its Intelligent Transportation System (ITS), part of a $3 million multi-year initiative. This choice follows rigorous testing, highlighting Actelis’ hybrid fiber-copper technology that facilitates rapid deployment and high reliability. Currently, less than 15% of San Jose's intersections are fiber enabled, and Actelis aims to enhance network capabilities swiftly, allowing real-time traffic data management and surveillance. The project underscores the city's commitment to improving transportation infrastructure in a rapidly evolving environment.
Actelis Networks (NASDAQ: ASNS) announced that CEO Tuvia Barlev and CFO Yoav Efron will present at the H.C. Wainwright 24th Annual Global Investment Conference, scheduled for September 12-14, 2022. This event will feature both virtual and in-person participation at the Lotte New York Palace Hotel in New York City. Actelis’ management will also hold one-on-one meetings with qualified investors during the conference. The company is a leader in cyber-hardened networking solutions for wide-area IoT applications, focusing on sectors like government, military, and telecommunications.
Actelis Networks (NASDAQ: ASNS) announced the receipt of $312,000 in orders related to a multi-year contract with a global airport operations management leader. This initiative is set to modernize networks across hundreds of airports in 39 countries, with new orders anticipated as deployment expands. The project facilitates rapid deployment of fiber-grade networks using existing copper infrastructure, enhancing IoT connectivity, freight monitoring, and overall airport operation efficiency. Actelis’ solutions ensure secure, reliable communications, enabling real-time data sharing necessary for improved safety and efficiency in airport operations.
Actelis Networks (ASNS) reported an 8% year-over-year revenue increase, totaling $4.9 million for the first half of 2022. Sales to IoT customers surged 51%, bolstered by a backlog of $4.0 million, primarily from IoT clients. Gross margin rose to 62%, despite supply chain challenges. However, the company noted an operating loss of $0.7 million for Q2 and a net loss of $1.7 million, attributed to increased financial and operating expenses linked to its recent IPO. Adjusted EBITDA was $79,000 for Q2 but showed a loss of $888,000 for the six months, reflecting elevated costs in R&D and marketing.
Actelis Networks, Inc. (NASDAQ: ASNS) will host a conference call on August 11, 2022, at 4:30 p.m. Eastern time to discuss its fiscal second-quarter financial results ending June 30, 2022. The call will feature CEO Tuvia Barlev and CFO Yoav Efron. Participants can join via dial-in numbers provided or listen to the live broadcast on the company's Investor Relations website. A telephonic replay will be available after the call until August 18, 2022.