Actelis Networks, Inc. Stock Price, News & Analysis

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.

Actelis Networks announced the appointment of Tzachy Givaty as Regional Vice President for Asia-Pacific to drive business development in IoT connectivity solutions.

With over 20 years of experience in sales and business development, Givaty previously expanded market presence at First Point Mobile Guard.

His expertise aligns with Actelis' focus on enhancing IoT networking and cybersecurity, particularly for smart city and governmental projects.

This leadership change is aimed at bolstering Actelis’ international strategy and responding to the growing demand for reliable IoT solutions.

Actelis Networks (NASDAQ:ASNS) announced its selection by the City of Eugene, Oregon, for a traffic management project using its hybrid fiber-copper networking solutions. This initiative is part of Eugene's goal to enhance transit by 2035. The project aims to modernize intersections by integrating IoT devices like traffic cameras and radar sensors, ensuring efficient traffic flow while prioritizing pedestrian safety. Actelis’ solutions utilize existing copper infrastructure for quick deployment and prepare the city for future fiber use. The company partners with Western Systems to implement these traffic solutions.

Actelis Networks, a leader in cyber-hardened networking solutions, will present at the Sidoti January Micro-Cap Virtual Conference on January 18, 2023, at 1:45 p.m. Eastern time. CEO Tuvia Barlev and CFO Yoav Efron will lead the presentation, which will be webcasted for later viewing. Actelis will also hold one-on-one meetings with qualified investors during the event. The conference runs from January 18-19, 2023, hosted virtually by Sidoti. Actelis specializes in rapid-deployment networking solutions for a variety of sectors, including government and telecommunications, and aims to enhance safe connectivity in IoT applications.

Actelis Networks, Inc. (NASDAQ:ASNS) has been selected by Northern Ireland Railways (NI Railways) to enhance connectivity for a vital project. This collaboration will utilize Actelis' hybrid fiber-copper solution to ensure high-speed data transfer from its main signaling center. NI Railways, part of Translink, serves over 1.5 million passengers weekly. Actelis aims to improve services such as customer information and CCTV feeds. The partnership demonstrates Actelis' expanding role in global railway systems, already operational in various countries.