Actelis lands $260k deal to upgrade Mid-Atlantic traffic systems

FREMONT, Calif. - Actelis Networks, Inc. (NASDAQ:ASNS), a provider of networking solutions for IoT applications, has secured a $260,000 order to enhance the traffic infrastructure in a significant Mid-Atlantic county, the company announced today. The order aims to modernize the county's traffic systems, which is crucial for a region with over one million residents, government offices, research centers, and major corporations.

The project is a continuation of Actelis' involvement in intelligent transportation, following similar initiatives in Washington, DC, Bakersfield, CA, and Italy. According to Tuvia Barlev, Actelis' Chairman and CEO, the firm's hybrid-fiber technology will not only improve traffic flow but also bolster safety and support the county's environmental goals.

The county, responsible for maintaining thousands of lane miles and hundreds of traffic signals and safety cameras, will benefit from Actelis' solution that offers immediate fiber-grade connectivity using the existing network infrastructure. The technology will enable more efficient management of traffic signals and camera systems at intersections, enhancing safety for all road users.

Actelis' solution aligns with the county's key priorities, such as achieving zero serious or fatal collisions by 2030, advancing its aggressive climate action plan by reducing vehicle emissions, and fostering economic growth and equitable access by extending the lifespan of current infrastructure.

Actelis Networks, Inc. is recognized for its cyber-hardened, rapid-deployment networking solutions, serving various sectors including government, transportation, and utilities. The company's portfolio includes hybrid fiber-copper networking solutions, aggregation switches, Ethernet devices, and advanced management software.

This press release contains forward-looking statements regarding the expected benefits of Actelis' technology and its impact on traffic management and safety. However, these statements are subject to risks, uncertainties, and assumptions and should not be considered as guarantees of future performance.

The information provided is based on a press release statement from Actelis Networks, Inc.

In other recent news, Actelis Networks has made significant strides in its financial and operational activities. The company has entered into a definitive agreement to exercise Series A-2 warrants for approximately 999,670 shares of common stock at $2.00 per share, a transaction expected to generate gross proceeds of around $2.25 million. In addition, Actelis has initiated an immediate exercise of outstanding warrants projected to generate approximately $3 million in gross proceeds for general corporate purposes.

In recent developments, Actelis has secured a substantial order for a smart city network project in a major German city and a significant order exceeding $300,000 for an Italian transport project. The company has also received orders for its cyber-hardened technology to be implemented at three U.S. military bases.

Actelis has announced a partnership with Carahsoft Technology Corp. for public sector distribution in the United States and Canada. This collaboration will enable Actelis to distribute its hybrid-fiber connectivity solutions to federal, state, local, and educational agencies. Lastly, Actelis plans to acquire a majority stake in Quality Industrial Corporation, a Dubai-based company specializing in industrial and energy solutions. The merger is expected to create a combined entity with a proforma revenue of $17 million in 2023.

InvestingPro Insights

As Actelis Networks, Inc. (NASDAQ:ASNS) announces its latest traffic infrastructure project, investors may be examining the company's financial health and stock performance with keen interest. The recent order to enhance a Mid-Atlantic county's traffic systems highlights the company's ongoing involvement in intelligent transportation solutions, but what do the numbers say?

InvestingPro Data metrics reveal a challenging financial landscape for Actelis Networks. With a market capitalization of just 7.78M USD, the company's revenue has seen a significant decline over the last twelve months as of Q1 2024, dropping by 49.11%. Additionally, Actelis has reported a gross profit of 1.43M USD, yet struggles with an operating income margin of -164.38%, indicating expenses far exceed revenues.

The stock's performance also reflects a tumultuous journey, as noted by an InvestingPro Tip that highlights the stock's high price volatility. Indeed, the company's stock has taken a notable hit over the last week, with a 1-week price total return of -8.82%. However, looking at a broader timeframe, Actelis has experienced a strong return over the last three months, with a 70.33% increase.

For investors considering a deeper dive into the financials and future of Actelis Networks, there are additional InvestingPro Tips available that detail aspects such as the company's cash burn rate and the implications of its valuation on free cash flow yield. In total, there are 9 more tips available on InvestingPro, providing a comprehensive analysis for those seeking to make informed decisions.

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