FREMONT, Calif. - Actelis Networks, Inc. (NASDAQ:ASNS), a provider of cyber-hardened networking solutions, has received a $200,000 order from the United States Department of Military Affairs. The order, intended for a US Army National Guard base, includes the company's hybrid-fiber networking technology, which promises to deliver higher bandwidth without the need for new cabling infrastructure.
The recent order adds to Actelis' growing presence in the federal government sector, following a significant order from the Department of Aerial Transportation agency and a $150,000 order in July from a tier-1 military contractor. The technology is designed to instantly enhance network bandwidth, leveraging existing infrastructure to save on engineering and construction costs.
The National Guard base, which supports hundreds of employees and houses thousands of Army personnel, required a network upgrade to support essential operations, including internet services, VoIP systems, and surveillance. Actelis' solution is listed on the Department of Defense's Approved Products List for its compliance with JITC and NIST certifications for FIPS, ensuring a high standard of cybersecurity.
Tuvia Barlev, Chairman and CEO of Actelis, emphasized the immediate value of their technology for military bases, enabling fiber-grade connectivity and preparing networks for future technological integrations. The company's products are part of a portfolio designed for rapid deployment in wide-area IoT applications across various sectors, including government, military, and utilities.
Actelis Networks, Inc., headquartered in Fremont, California, positions itself as a leader in hybrid fiber-copper networking solutions with a focus on "Cyber Aware Networking," which includes AI-based cyber monitoring and protection for edge devices. The company's solutions aim to combine fiber-grade performance with the cost-efficiency of hybrid networks.
The information regarding Actelis' recent order and its products is based on a press release statement. The company's forward-looking statements involve risks and uncertainties, as detailed in their filings with the U.S. Securities and Exchange Commission.
In other recent news, Actelis Networks has made significant strides in its operations. The company has secured a new order from a major U.S. aerial transportation agency, further solidifying its influence in the intelligent transportation sector. This comes on the heels of several orders Actelis has received over the past few months, including a $2.3 million deal with Washington D.C.'s Department of Transportation and a $300,000 agreement for an Italian national transportation infrastructure project.
Additionally, Actelis has regained compliance with Nasdaq's listing requirements, ensuring its continued presence on the exchange. The company has also exercised Series A-2 warrants for approximately 999,670 shares of common stock, expected to generate around $2.25 million. Another noteworthy development includes plans to acquire a majority stake in Quality Industrial Corporation, a Dubai-based company, projected to yield a proforma revenue of $17 million in 2023.
In terms of technology, Actelis has announced a partnership to enhance the cybersecurity of Internet of Things (IoT) devices, introducing an AI-powered Software as a Service (SaaS) layer to its 'Cyber Aware Networking' architecture. The company has also received a new order from a New York City municipality to upgrade its traffic management system, in collaboration with partner Netceed. These are the recent developments in Actelis Networks' operations.
InvestingPro Insights
Actelis Networks, Inc. (NASDAQ:ASNS) has shown a large price uptick over the last six months, with a 43.69% increase, reflecting a potential market confidence in its technology and strategic orders such as the recent $200,000 order from the United States Department of Military Affairs. While the company's solutions are gaining traction, particularly in the government sector, it's important for investors to consider the financial health and market performance of Actelis Networks.
InvestingPro data indicates that Actelis Networks has a market capitalization of $9.51 million, which places it in the smaller spectrum of publicly traded companies. This can often mean higher volatility in stock price movements, which is consistent with the InvestingPro Tip that Actelis' stock generally trades with high volatility. Additionally, the company's Price / Book ratio as of the last twelve months ending Q2 2024 stands at 9.51, suggesting that the stock may be trading at a premium compared to its book value.
Despite seeing a significant revenue growth of 80.96% in the most recent quarter, the company is not profitable over the last twelve months, with a reported operating income margin of -95.53%. This aligns with another InvestingPro Tip indicating that Actelis is quickly burning through cash, which is a critical factor for investors to monitor.
For those interested in a deeper analysis, there are additional InvestingPro Tips available for Actelis Networks, Inc., which can provide further insights into the company's performance and outlook. These tips can be accessed through the InvestingPro platform, which offers a comprehensive suite of tools for investors looking to make informed decisions.
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