Actelis Networks, Inc. Stock Price, News & Analysis

Actelis Networks (NASDAQ: ASNS) reported strong Q2 2024 results, showcasing 372% sequential revenue growth and 81% year-over-year increase. Revenue reached $3.43 million, up from $1.9 million in Q2 2023. The company achieved positive EBITDA of $11,000, marking the first profitable quarter since 2022. Gross margin improved significantly to 57%, driven by increased revenue and a more profitable geographical mix. Operating expenses were reduced by 20% to $1.88 million. Actelis secured a $2.3 million order from Washington D.C.'s Department of Transportation and successfully deployed its solution in Bakersfield, CA. The company raised nearly $5 million in June 2024, strengthening its liquidity position.

Actelis Networks, Inc. (NASDAQ:ASNS) has secured new orders to deploy cyber-hardened network solutions for two major German utility providers. The orders include supplying the MetaLIGHT 684D networking solution to a large regional water supply company and a natural gas provider. Actelis' technology offers rapid deployment of fiber-grade connectivity over existing infrastructure, making it attractive for critical IoT networks in the utility sector.

The company's solution addresses the growing need for enhanced cybersecurity in utility networks, particularly in light of recent cyberattacks on water infrastructure. Actelis' advanced encryption protocols provide robust protection against threats such as ransomware, phishing, and hacking, aligning with concerns raised by agencies like the U.S. EPA regarding the vulnerability of water systems to cyber threats.

Actelis Networks (NASDAQ: ASNS) has received new orders exceeding $150,000 from a tier-1 military contractor for its latest cyber-hardened networking solution, the GigaLine 800 (GL800). This marks the first major deployment of the GL800 on U.S. military bases, following its NIST certification for FIPS standard and JITC certification. The GL800 is designed to deliver higher bandwidth to buildings and IoT devices, providing secure multi-gigabit fiber-grade connectivity over existing wiring. This hybrid-fiber solution enables rapid, overnight deployment while saving costs by avoiding new construction. The GL800 features high-end security protocols, including 256-bit MACsec encryption, making it attractive to government agencies seeking enhanced network security and quick connectivity.

Actelis Networks, Inc. (NASDAQ:ASNS) has secured a software and service contract renewal worth nearly $1.5 million from a major North American customer. The agreement primarily covers licensed access to Actelis' Element Management Software System (EMS), a scalable platform for remote network management and device provisioning. The EMS solution offers:

- Automated configuration and software upgrades
- Robust configuration management
- Real-time event notifications and email alerts
- Support for various network configurations
- Integration with third-party systems

The contract also includes technical support and extended warranty services. This renewal follows recent wins in the military, energy, and intelligent transportation sectors, showcasing Actelis' ability to support large-scale critical IoT infrastructure networks.

Actelis Networks, a market leader in networking solutions for IoT applications, announced a $260,000 order to modernize the traffic systems in a major Mid-Atlantic county. This project leverages Actelis' hybrid-fiber technology to improve traffic management, safety, and environmental initiatives. The County, home to over 1 million residents, is important for the region's economy and infrastructure. Actelis' advanced Ethernet aggregators and access devices will enhance the operational efficiency of traffic signals and safety cameras, aligning with the County's long-term goals of eliminating severe collisions by 2030 and promoting climate resilience.

Actelis Networks (NASDAQ: ASNS) has closed the exercise of its Series A-2 warrants, raising approximately $2.25 million in gross proceeds. These warrants, originally issued in June 2024, allowed for the purchase of up to 999,670 shares of common stock at $2.00 per share. The company issued new unregistered warrants to buy 1,999,340 shares of common stock at an exercise price of $1.75 per share, with a 24-month term.

H.C. Wainwright & Co. acted as the exclusive placement agent. The proceeds will be used for general corporate purposes. The new warrants and the shares issued upon their exercise are not registered under the Securities Act of 1933 and will require registration with the SEC before they can be resold in the U.S.

Actelis Networks (NASDAQ:ASNS) announced a definitive agreement for the immediate exercise of certain Series A-2 warrants, resulting in gross proceeds of approximately $2.25 million. These warrants allow the purchase of up to 999,670 shares at $2.00 per share. H.C. Wainwright & Co. is the exclusive placement agent. Additionally, the company will issue new unregistered warrants for 1,999,340 shares at $1.75 per share, effective immediately and valid for 24 months. The offering is expected to close by July 2, 2024, with proceeds used for general corporate purposes.

Actelis Networks (NASDAQ: ASNS) announced an initial order from a major German municipal utilities company. This order, part of a larger project, involves deploying Actelis' advanced hybrid-fiber networking solution to enhance smart city critical infrastructure. This solution will enable gigabit speeds using existing copper or fiber infrastructure, facilitating immediate deployment without new wiring. Additionally, it offers strong encryption to protect against cyber-attacks. Actelis' technology supports the growing need for secure and efficient IoT infrastructures, particularly in energy and utilities networks.

Actelis Networks (NASDAQ: ASNS) has secured a $300,000 order from a new Italian channel partner for a national transportation infrastructure project. This order highlights Actelis' continued international expansion and its reputation for providing cost-effective, scalable, and secure networking solutions. Actelis' technology allows for gigabit speeds over existing wireline mediums, making it a cost-effective alternative to extensive engineering and construction projects. The company's solutions are deployed in various sectors, including recent projects for the UK National Highways and the Washington D.C. Department of Transportation. Actelis’ ML684Dx device, used in this project, is designed for hybrid fiber and copper networks and features advanced security measures, making it ideal for transportation applications.