FREMONT, Calif. - Actelis Networks, Inc. (NASDAQ:ASNS), a provider of networking solutions for IoT applications, has secured a software and service order valued at approximately $1.5 million from a major North American customer.
The company, known for its cyber-hardened, rapid deployment networking products, has recently gained traction with notable wins in the military, energy, and intelligent transportation sectors.
The order centers around Actelis' Element Management Software System (EMS), designed to enhance the management and monitoring of large-scale network infrastructures. The EMS platform is recognized for its scalability and the ability to integrate with third-party network management systems, offering a variety of tools for configuration management and real-time network monitoring.
This agreement includes not only software licensing but also technical support and extended warranty services from Actelis' technical team. Tuvia Barlev, Chairman and CEO of Actelis, expressed confidence in the value their software technology and customer service bring to their clients' operations.
Actelis Networks continues to focus on providing solutions that facilitate safer connectivity and rapid deployment for a wide range of applications, from government to telecom. The company's portfolio includes hybrid fiber-copper switches, Ethernet devices, and advanced management software, all aimed at unlocking the potential of essential networks.
This announcement is based on a press release statement and does not reflect the personal views or opinions of the reporter. Actelis Networks has made forward-looking statements regarding the potential of their products and services, which involve risks and uncertainties that could cause actual results to differ from projections. These statements are not guarantees of future performance and should be evaluated accordingly.
In other recent news, Actelis Networks, Inc. has been actively expanding its operations through several significant deals and partnerships. The company has secured a $260,000 order to upgrade traffic systems in a significant Mid-Atlantic county, aiming to enhance safety and environmental goals.
Actelis has also landed a deal to supply a municipal utility company in Germany with its hybrid-fiber networking solution, marking its continued expansion into smart city infrastructure.
In Italy, Actelis has received an order exceeding $300,000 to support a national transportation infrastructure project. This project will utilize Actelis' technology for critical traffic monitoring, surveillance, and law enforcement applications.
On the financial front, Actelis has entered into a definitive agreement to exercise Series A-2 warrants, expected to generate gross proceeds of around $2.25 million. The company has also initiated an immediate exercise of outstanding warrants projected to generate approximately $3 million in gross proceeds for general corporate purposes.
In terms of partnerships, Actelis has teamed up with Carahsoft Technology Corp. for public sector distribution in the United States and Canada. This alliance 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. These are the recent developments in Actelis Networks' growth story.
InvestingPro Insights
Actelis Networks, Inc. (ASNS) has recently shown significant financial dynamics that could be of interest to investors following the announcement of their new $1.5 million software and service order. According to real-time data from InvestingPro, Actelis Networks has a market capitalization of $9.33 million, reflecting its position in the industry relative to its peers.
The company's aggressive growth is also evident in its recent price performance, with a one-month price total return of 37.78% and an even more impressive three-month price total return of 156.2%. These metrics underscore the company's strong performance in the short term and may suggest a positive market response to their strategic initiatives and product offerings.
Despite these gains, it is important to note that Actelis Networks does not pay a dividend to shareholders, which could be a consideration for income-focused investors. Additionally, the company's price-to-earnings (P/E) ratio stands at -0.99, indicating that the company is not currently profitable.
Investors looking for deeper insights will find that there are 11 additional InvestingPro Tips available for Actelis Networks, which can be accessed at https://www.investing.com/pro/ASNS. These tips provide a comprehensive analysis of the company's financial health and market performance.
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