WASHINGTON, D.C. - Actelis Networks, Inc. (NASDAQ:ASNS), known for its networking solutions for IoT applications, has received additional orders from the Washington DC Department of Transportation (DDOT). These new orders build on a prior $2.3 million project from May 2024 aimed at upgrading the city's network infrastructure to improve traffic flow and safety.
The collaboration with M.C. Dean, a prominent integrator for DDOT, leverages Actelis' expertise in cyber-hardened, rapid deployment networking to address traffic congestion in one of the United States' most crowded cities. Factors contributing to Washington, D.C.'s traffic issues include high population density and a significant number of commuters and tourists.
Tuvia Barlev, Chairman and CEO of Actelis, highlighted the critical role of robust network connectivity in effective traffic management systems. Actelis' technology has enabled DDOT to implement solutions like optimized signal timing and advanced traffic cameras, enhancing the city's traffic management capabilities.
Actelis' hybrid-fiber networking solutions are particularly beneficial as they provide fiber-grade performance over existing wiring, which helps cities avoid the costs and disruptions associated with laying new cables. Barlev emphasized that Washington, D.C. serves as an example for other cities on how to efficiently modernize traffic infrastructure and manage dense roadway systems.
The company's offerings are designed to transform legacy copper or other low-bandwidth wiring into infrastructure capable of supporting high-demand applications. This approach has demonstrated potential cost savings for cities, while achieving the necessary performance for complex traffic systems.
Actelis Networks, Inc. positions itself as a market leader in hybrid fiber-copper, cyber-hardened networking solutions, catering to a variety of sectors including government, ITS, military, utility, rail, telecom, and campus networks. The company also focuses on network security and resilience through its "Cyber Aware Networking" initiative, which includes AI-based cyber monitoring and protection for edge devices.
The information presented in this article is based on a press release statement from Actelis Networks, Inc.
In other recent news, Actelis Networks, a provider of networking solutions, has been making significant strides in its operations. The company recently secured a follow-on order from a major German municipality, expanding its hybrid-fiber networking technology in the intelligent transportation systems market. The company's technology is designed to upgrade networks rapidly while providing protection against emerging cyber threats. In addition, Actelis has received orders from the United States Department of Military Affairs and a significant Italian motorways operator, demonstrating growing trust in their technology.
Furthermore, Actelis has exercised Series A-2 warrants for approximately 999,670 shares of common stock, which is expected to generate around $2.25 million. This financial move ensures the company's continued presence on the Nasdaq exchange. On the technology front, Actelis has been enhancing its cybersecurity offerings, developing an AI-powered SaaS product as part of its 'Cyber Aware Networking' initiative. This service aims to provide real-time threat identification and protection for IoT networks.
However, the company has terminated a term sheet for a potential acquisition of Quality Industrial Corp. Despite this, Actelis Networks continues to expand its presence in the intelligent transportation systems space and the federal government sector, signaling its commitment to growth and innovation. It's important to note that these are recent developments and should be considered for their potential impact on the company's future operations.
InvestingPro Insights
As Actelis Networks, Inc. (NASDAQ:ASNS) secures additional orders from the Washington DC Department of Transportation, investors might be interested in some key financial metrics and insights from InvestingPro.
According to InvestingPro data, Actelis has shown impressive revenue growth, with a 200.71% increase in quarterly revenue as of Q3 2024. This aligns well with the company's recent success in securing new orders and expanding its presence in the smart city infrastructure market.
However, it's important to note that despite this growth, the company is not currently profitable. An InvestingPro Tip highlights that Actelis has not been profitable over the last twelve months, with an operating income margin of -51.08% for the same period.
Another relevant InvestingPro Tip indicates that the company's stock price movements are quite volatile. This volatility is reflected in the contrasting price performance over different timeframes: while there has been a significant 122.02% price increase over the last six months, the stock has also experienced a 23.9% decline in the past three months.
For investors seeking a more comprehensive analysis, InvestingPro offers 8 additional tips for Actelis Networks, providing a deeper understanding of the company's financial health and market position.
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