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 reported a 21% year-over-year increase in revenues, reaching $1.9 million for Q1 2022, up from $1.5 million in Q1 2021. The customer backlog surged 121% to $4.2 million. However, net loss grew to $4.6 million from $0.7 million, driven primarily by increased financial expenses and operating costs. Adjusted EBITDA loss also widened to $957,000. Following a successful IPO in May 2022, net proceeds amounted to approximately $14.4 million to support future growth. Operational highlights include initial orders from global partners in airport and energy sectors.
Actelis Networks, Inc. (NASDAQ: ASNS) will host a conference call on June 22, 2022, at 4:30 p.m. ET to discuss its financial results for the fiscal first quarter ending March 31, 2022. CEO Tuvia Barlev and CFO Yoav Efron will lead the discussion. Interested participants should dial in 10 minutes before the start time. The call will also be broadcast live and available for replay after 7:30 p.m. ET on the same day until June 29, 2022. For more information, visit www.actelis.com.
Actelis Networks (NASDAQ: ASNS) announced the completion of its upsized initial public offering, selling 4,212,500 shares at $4.00 each, raising approximately $15.4 million in net proceeds. The funds will be allocated mainly towards research and development, sales and marketing, and working capital. Shares began trading on Nasdaq on May 13, 2022. Boustead Securities, LLC acted as the sole underwriter.
Actelis Networks, Inc. (NASDAQ:ASNS) announced the pricing of its initial public offering (IPO) of 3,750,000 shares at $4.00 each, aiming for total gross proceeds of $15 million. Boustead Securities, LLC serves as the sole underwriter. The shares are set to trade on the Nasdaq Capital Market starting May 13, 2022. Additionally, Boustead has a 45-day option to purchase an extra 562,500 shares. Proceeds from the offering will primarily support research and development, sales and marketing, and general corporate activities.