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FREMONT, CA – Actelis Networks Inc. (NASDAQ:ASNS), a leading manufacturer in the communications equipment sector with a market capitalization of $6.38 million, announced today significant changes to its board of directors. Israel Niv, a board member for a decade, retired effective today, with no disagreements with the company’s operations, policies, or practices prompting his departure. According to InvestingPro data, the company maintains a healthy balance sheet with more cash than debt.
Julie Kunstler has been appointed as the new Chair of the Compensation Committee and will also serve on the Governance and Nominating Committee. Additionally, Gideon Marks has joined the Compensation Committee. These appointments are part of the company’s ongoing commitment to strong corporate governance and effective board leadership. Despite challenging market conditions, the company has achieved impressive revenue growth of 38.42% over the last twelve months, maintaining a robust gross margin of 55.03%.
Actelis Networks, incorporated in Delaware and headquartered in Fremont, California, is recognized under the Standard Industrial Classification code 3669 for Communications Equipment, NEC. The company’s fiscal year-end is December 31.
The information in this article is based on a press release statement.
In other recent news, Actelis Networks reported a significant increase in its Q4 2024 financial performance, with total revenue rising by 38% to $7.8 million, largely driven by a 134% increase in North American sales. The company also achieved a 13% reduction in operating expenses, contributing to a notable reduction in operating loss. In addition to its financial results, Actelis secured a $140,000 contract to supply its GigaLine 800 solution for the modernization of U.S. military bases, emphasizing the rapid deployment and cost efficiency of their technology. Actelis also received an order from a major North American railway to enhance rail safety systems, supporting Positive Train Control systems designed to prevent accidents. The company continues to focus on expanding its market presence, with strategic initiatives including the introduction of its MetaShield cybersecurity solution. Actelis Networks is leveraging its hybrid fiber-copper solutions to serve multiple sectors, including government and transportation. Analyst firms have yet to release any upgrades or downgrades following these recent developments.
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