On the heels of robust financial performance and announcements surrounding SAAS expansion, Actelis wins a crucial intelligent traffic system order in New York
Actelis Networks (NASDAQ: ASNS), a recognized leader in cyber-hardened networking solutions for IoT applications, continues to expand its influence in the intelligent transportation systems (ITS) market with a new order from a densely populated municipality in the New York City metropolitan area. This latest success follows an impressive second quarter where the company reported a remarkable 372% sequential revenue growth and a series of strategic product launches, solidifying its role as a key player in urban infrastructure modernization.
A New Milestone in Traffic Management
The new order, facilitated through Actelis’ strategic partnership with Netceed, a large and prominent provider in the IoT and ITS markets, is a testament to the company’s innovative hybrid-fiber technology, which is designed to provide fiber-grade connectivity over existing copper/coax networks. Actelis’ ability to enable rapid, overnight deployment allows municipalities to quickly and cost-effectively upgrade their traffic management systems without the need for extensive new infrastructure.
In heavily congested areas like the NYC metro, the ability to implement secure, high-speed networking solutions overnight is a game-changer. Actelis’ hybrid-fiber devices will be installed at key intersections, allowing for real-time monitoring and adaptive control of traffic conditions. This technology is expected to enhance traffic flow and safety, addressing one of the pressing challenges faced by urban centers today.
Tuvia Barlev, Chairman and CEO of Actelis, emphasized the importance of this deployment: “Our technology empowers cities to rapidly expand their IoT infrastructure, enabling real-time data capture and remote adjustments. This flexibility is crucial for cities as they adapt to the evolving needs of intelligent transportation systems.”
Building on a Strong Foundation: Q2 2024 Financial Results
\This new order comes on the heels of Actelis’ impressive Q2 2024 financial results, where the company reported an 81% year-over-year revenue increase to $3.43 million and achieved positive EBITDA for the first time since 2022. This performance was driven by the successful execution of large contracts, including a significant deal with the Washington D.C. Department of Transportation, further demonstrating the company’s ability to deliver on its strategic initiatives.
Actelis’ financial discipline has also been evident in its cost management efforts. The company reduced operating expenses by 20% year-over-year in the second quarter, contributing to a substantial narrowing of net loss. These results underscore Actelis’ commitment to driving growth while maintaining a lean operational structure.
Expanding SaaS Offerings and Strategic Partnerships
In addition to its strong financial performance, Actelis has recently announced a partnership to launch an AI-powered SaaS platform as part of its ‘Cyber Aware Networking’ initiative. This new solution integrates advanced AI and machine learning into Actelis’ networking devices, providing real-time monitoring and threat detection for IoT edge devices, which are often vulnerable points in critical infrastructure. This move enhances Actelis’ cybersecurity offerings and adds a recurring software revenue stream, aligning with the company’s strategy to expand its presence in the growing IoT market.
The ‘Cyber Aware Networking’ architecture is designed to protect and manage IoT networks with enterprise-grade security, ensuring that cities and organizations can securely expand their smart infrastructure. This strategic initiative highlights Actelis’ commitment to innovation and its ability to meet the evolving needs of the IoT sector.
Looking Ahead
As Actelis continues to build on its recent successes, the company is well-positioned to capitalize on the growing demand for intelligent transportation solutions. The strategic focus on hybrid-fiber technology, combined with a disciplined approach to financial management, places Actelis at the forefront of the smart city revolution.
With its ability to deliver secure, high-performance networking solutions quickly and cost-effectively, Actelis is not just meeting the current needs of urban centers—it’s setting the standard for the future of urban infrastructure.
Photo: Pixabay.com
This article is for informational purposes only and is not intended to serve as technological, professional or financial advice. Please refer to the Full Disclaimers and Financial Compensation Disclosures it is subject to.
Published by: Khy Talara
