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FREMONT, Calif. - Actelis Networks, Inc. (NASDAQ: ASNS), a provider of cyber-hardened networking solutions showing strong revenue growth of 38.42% in the last twelve months, has won a contract to upgrade the communications infrastructure of a major Nordic city, the company announced today. The deal, which expands Actelis’ presence in Europe, involves collaboration with a top traffic technology firm in the region. According to InvestingPro data, the company maintains a healthy gross profit margin of 55.03% while holding more cash than debt on its balance sheet.
The city, with a population exceeding 300,000 and part of a larger metropolitan area, is advancing its smart city initiatives aimed at creating a more efficient and sustainable urban environment. Actelis will supply its advanced hybrid-fiber networking solutions to improve connectivity for municipal systems. InvestingPro analysis reveals 12 additional key insights about the company’s performance and prospects, available to subscribers.
"Our technology will help rapidly enhance communications capabilities while providing the security and reliability essential for smart city operations in one of Europe’s most technologically advanced regions," said Tuvia Barlev, Chairman and CEO of Actelis.
Actelis’ hybrid-fiber solutions deliver fiber-grade performance and leverage existing infrastructure, aiming to reduce deployment time and costs. The technology also offers military-grade security for critical urban systems.
This new order follows Actelis’ recent projects in Germany, Italy, Hungary, and the United Kingdom, demonstrating the company’s growing European market presence. Actelis specializes in hybrid fiber-copper, cyber-hardened networking solutions for wide-area IoT applications across various sectors.
The information for this article is based on a press release statement from Actelis Networks, Inc.
In other recent news, Actelis Networks reported a robust Q4 2024 performance with a 38% revenue increase, reaching $7.8 million, primarily driven by a 134% surge in North American sales. The company also managed to reduce operating expenses by 13%, contributing to a significant reduction in operating loss. Actelis Networks secured a $140,000 contract to modernize U.S. military bases with its GigaLine 800 solution, enhancing infrastructure for the Army, Navy, and Air Force. Additionally, the company received an order to upgrade Orange County’s intelligent transportation system, further solidifying its presence in the ITS market. In a strategic move, Actelis announced changes to its board of directors, with Julie Kunstler appointed as the new Chair of the Compensation Committee. The company also received a significant order from a major North American railway to enhance rail safety systems, supporting Positive Train Control technology. These developments highlight Actelis Networks’ ongoing efforts to expand its market presence and improve infrastructure across various sectors.
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