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FREMONT, Calif. - Actelis Networks , Inc. (NASDAQ:ASNS), a provider of cyber-hardened networking solutions with a market capitalization of $6.23 million, has received a follow-on order from a Hungarian utility to further modernize its communications infrastructure. This latest order, building on a prior engagement from October 2023, aims to enhance the secure transmission of data essential for monitoring and controlling Hungary’s critical infrastructure. The company maintains a strong balance sheet, holding more cash than debt, according to InvestingPro data.
The company’s cyber-hardened networking solutions are designed to extend fiber-grade connectivity while utilizing existing infrastructure. This approach offers a cost-effective and scalable solution for upgrading large-scale utility networks. With a healthy gross profit margin of 55.22% and revenue growth of 8.31% in the last twelve months, Actelis’ technology is already in use across various sectors, including transportation, energy, government, and military, delivering robust and high-performance communication capabilities.InvestingPro analysis reveals 8 additional key insights about Actelis Networks’ financial health and market position. Unlock complete analysis with an InvestingPro subscription.
Tuvia Barlev, Chairman and CEO of Actelis, expressed satisfaction with the ongoing collaboration, stating, "This follow-on order underscores the continuous trust our customers place in Actelis to deliver secure, resilient, and rapidly deployable networking solutions that meet the demands of modern utility operations."
Actelis Networks, Inc. specializes in hybrid fiber-copper, cyber-hardened networking solutions for rapid deployment in wide-area IoT applications. The company also focuses on network security and resilience through its "Cyber Aware Networking" initiative, which offers AI-based cyber monitoring and protection for edge devices.
The information in this article is based on a press release statement. The forward-looking statements within the release involve risks and uncertainties that could cause actual results to differ materially from projected outcomes. Actelis Networks has not provided further details on the financial terms or specific timeline for the deployment of the expanded services in Hungary. Based on InvestingPro Fair Value analysis, the stock currently appears undervalued, though investors should note the company’s rapid cash burn rate when considering investment decisions.
In other recent news, Actelis Networks announced the launch of MetaShield, a new cybersecurity solution designed to enhance network security for IoT and critical infrastructure networks. This product marks a strategic shift towards a Software-as-a-Service (SaaS) business model and aims to provide continuous monitoring and real-time protection, particularly at network edges where vulnerabilities are highest. The launch follows positive feedback during its pre-launch phase and is anticipated to contribute to the company’s growth through additional recurring revenue streams. In addition to this product launch, Actelis Networks appointed Julie Kunstler as an independent director to its Board of Directors. Kunstler brings over thirty years of experience in communications technology and strategic corporate positioning, which is expected to strengthen the company’s strategic direction and governance. Her recent role as Chief Analyst for the Broadband Access Intelligence Service at Omdia highlights her deep understanding of the industry. Kunstler’s appointment is aligned with Actelis’ mission to innovate in secure networking solutions globally. These developments reflect Actelis Networks’ ongoing commitment to expanding its product offerings and enhancing its governance structure.
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