FREMONT, Calif. - Actelis Networks, Inc. (NASDAQ:ASNS), a provider of cyber-hardened networking solutions, has received a follow-on order for its temperature-hardened networking technology from a major Italian motorways operator. This order, announced today, builds upon a previous order in June for an Italian National Transportation Infrastructure Project valued at over $300,000.
The company's technology is designed to enhance road safety by enabling the rapid modernization of network infrastructure, facilitating the use of safety tools such as CCTV, speed cameras, and digital signage. Actelis' solution leverages existing copper, fiber, or coaxial wiring to deliver robust connectivity across extensive road networks, offering a cost-effective alternative to laying new cables.
Actelis' Chairman and CEO, Tuvia Barlev, expressed pride in the company's role in advancing intelligent transportation systems and the trust placed in their solutions by transportation operators. The technology is engineered to withstand various climates, ensuring reliable operation and transmission of critical data for real-time traffic management and safety improvements.
The firm's networking solutions are already in use across thousands of miles of highways in the United Kingdom and Japan, as well as in urban traffic systems worldwide. Actelis continues to expand its presence in the Intelligent Transportation Systems (ITS) market, offering hybrid-fiber networking technology that combines the benefits of fiber and copper wiring for long-distance connectivity.
Actelis Networks, Inc. is known for its hybrid fiber-copper, cyber-hardened networking solutions tailored for wide-area IoT applications in various sectors. The company also emphasizes cybersecurity through its "Cyber Aware Networking" initiative, which includes AI-based monitoring and protection for network edge devices.
This article is based on a press release statement and includes forward-looking statements subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those anticipated.
In other recent news, Actelis Networks has been making strides with several notable developments. The company has secured a $200,000 order for its hybrid-fiber networking technology from the United States Department of Military Affairs for a US Army National Guard base. This follows a significant order from the Department of Aerial Transportation agency and another $150,000 order from a tier-1 military contractor.
Actelis Networks has also secured a new order from a major U.S. aerial transportation agency, adding to a series of orders 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. The company has regained compliance with Nasdaq's listing requirements and has exercised Series A-2 warrants for approximately 999,670 shares of common stock, expected to generate around $2.25 million.
In terms of technology, Actelis Networks 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 recent developments in Actelis Networks' operations.
InvestingPro Insights
Actelis Networks' recent follow-on order from a major Italian motorways operator underscores the company's growing presence in the Intelligent Transportation Systems market. However, investors should be aware of some key financial metrics and insights provided by InvestingPro.
As of the latest data, Actelis Networks has a market capitalization of $8.72 million USD, reflecting its position as a small-cap company in the networking solutions sector. The company's revenue for the last twelve months as of Q2 2024 stands at $6.02 million USD, with a notable quarterly revenue growth of 80.96% in Q2 2024. This significant quarterly growth aligns with the company's recent contract wins and expansion in the ITS market.
Despite these positive developments, InvestingPro Tips highlight some challenges. The company is "quickly burning through cash" and is "not profitable over the last twelve months." These factors may explain why the stock "has fared poorly over the last month," with a 1-month price total return of -15.7%.
It's worth noting that while Actelis Networks is making strides in securing new contracts, its financial health requires careful consideration. The company operates with a moderate level of debt, and its valuation "implies a poor free cash flow yield," according to InvestingPro Tips.
For investors seeking a more comprehensive analysis, InvestingPro offers 10 additional tips for Actelis Networks, providing a deeper understanding of the company's financial position and market performance.
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