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FREMONT, Calif. - Actelis Networks, Inc. (NASDAQ:ASNS), a networking solutions provider with a market capitalization of approximately $6 million and according to InvestingPro data, currently operating at a significant loss with -$3.8 million in EBITDA, announced Wednesday that its Board of Directors has approved a new treasury management strategy that includes allocating corporate funds to cryptocurrencies.
The networking solutions provider said the board has authorized management to diversify treasury holdings through investments in established digital assets meeting specific criteria. These include cryptocurrencies ranked within the top 100 by market capitalization, trading on major exchanges, with a minimum market capitalization of $500 million. This move comes as the company maintains a moderate debt level with a debt-to-equity ratio of 0.38, according to recent financial data.
"This strategic enhancement to our treasury management is part of our commitment to accelerating long-term value for shareholders through prudent diversification of our balance sheet," said Tuvia Barlev, Chairman and CEO of Actelis, in a press release statement.
The company indicated the cryptocurrency treasury strategy will complement its continued focus on its core networking solutions business across Federal/Military, Smart City/Intelligent Transportation, and Multi-Dwelling Unit markets.
Actelis stated it intends to implement this strategy while maintaining adequate working capital for operational requirements and continued investment in growth initiatives in its core business.
The company specializes in hybrid fiber-copper, cyber-hardened networking solutions for rapid deployment in wide-area IoT applications, including government, ITS, military, utility, rail, telecom, and campus networks. While the company has achieved impressive revenue growth of 73% in the last twelve months, InvestingPro analysis reveals several key metrics that subscribers can access, including detailed Fair Value estimates and 12 additional ProTips that provide crucial insights into the company’s financial health and market position.
In other recent news, Actelis Networks, Inc. has announced the closing of a private placement that raised approximately $1 million in gross proceeds. This offering included shares of common stock and warrants for additional shares, priced at-the-market under Nasdaq rules. Actelis has also secured an initial order from a major U.S. telecommunications carrier for its GigaLine connectivity solutions, specifically targeting multi-dwelling units. This marks the company’s first significant success with a large U.S. carrier, utilizing their GigaLine 800 and 900 products to provide high-speed connectivity without new fiber installations. Additionally, a member of a large Pan European Telecom Group has ordered Actelis’ GigaLine technology to enhance mobile base station backhaul. In a strategic move to expand its presence in federal and military markets, Actelis has appointed Jason Chasse as Director of Federal Sales. Chasse brings over 30 years of experience in federal sales and has held senior roles at several technology companies. These developments reflect Actelis Networks’ ongoing efforts to grow its market presence and product reach.
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