Actelis Networks appoints Mark DeVol as chief revenue officer Americas

FREMONT, Calif. - Actelis Networks, Inc. (NASDAQ:ASNS), a $6.67 million market cap networking solutions provider with 73% revenue growth in the last twelve months, announced Monday the appointment of Mark DeVol as Chief Revenue Officer Americas, effective August 27, 2025. According to InvestingPro data, the company maintains a moderate debt level with a debt-to-equity ratio of 0.38.

DeVol brings over 30 years of experience in defense, government, and telecommunications sectors. He currently serves as Vice President of Federal Sales for Ericsson Enterprise Wireless Solutions. His appointment comes at a crucial time as InvestingPro analysis reveals the company is rapidly deploying capital for growth, though currently operating at negative EBITDA of -$3.83 million.

The new executive has held leadership positions at several technology companies including Ericsson/Ericsson Federal, Nokia, Verizon Wireless, and Oceus Networks. His background includes nearly 10 years of service in the U.S. Navy supporting information systems.

At Actelis, DeVol will focus on strengthening the company’s presence in Federal/Military, Local Government, and telecommunications markets. The appointment aligns with Actelis’ strategy to expand in sectors requiring rapid deployment networking solutions.

"I’m excited to join Actelis at this critical growth phase," DeVol said in the press release. "Having worked extensively with Federal, Military, and telecommunications customers throughout my career, I recognize both the urgent need and the extensive opportunity for solutions like those Actelis offers."

The appointment follows other recent additions to Actelis’ leadership team, including Jason Chasse as Director of Federal Sales in June, and the addition of Dr. Niel Ransom and Julie Kunstler to its Board of Directors earlier this year.

Actelis Networks provides hybrid fiber-copper networking solutions for IoT applications across government, transportation systems, military, utility, rail, telecom, and campus networks. The company’s products have received Department of Defense Information Network (DoDIN) approval and other security certifications. With a gross profit margin of 55.46%, the company shows promising operational efficiency despite current challenges. Discover more detailed insights and 10 additional key ProTips about ASNS’s potential through InvestingPro’s comprehensive research reports.

In other recent news, Actelis Networks has announced the completion of a private placement offering, raising approximately $1 million in gross proceeds. This offering included shares of common stock and warrants for additional shares, structured under Nasdaq rules. Additionally, Actelis Networks has secured an initial order from a major U.S. telecommunications carrier for its GigaLine solutions, aimed at enhancing multi-dwelling unit connectivity without the need for new fiber installations. This marks a significant achievement for Actelis, as it is their first order from a large U.S. telecom carrier. The company has also received a new order for its GigaLine technology from a member of a large Pan-European Telecom Group to support mobile base station backhaul.

Furthermore, Actelis Networks’ Board of Directors has approved a new treasury management strategy that includes investing in cryptocurrencies. The strategy involves diversifying treasury holdings through investments in digital assets that meet specific criteria. These recent developments reflect Actelis Networks’ strategic moves in both financial management and expansion of its technology solutions.

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