From GlobeNewswire: 2024-03-26 16:30:00

Actelis Networks, Inc. reported $5.6 million in revenue for fiscal year 2023, a decrease from $8.8 million in 2022. The strategic shift to IoT drove 77% of sales from IoT applications, resulting in a 43% decrease in net loss to $6.3 million. Operating expenses were reduced by 9% and Adjusted EBITDA loss was $6.1 million.

The Company achieved certification from the US Department of Defense and NIST for its cyber secure networking solutions. Actelis also launched new MDU solutions and fiber optic switching devices, and signed partnership agreements with Netceed and Carahsoft. Multiple IoT customer wins were secured, and strategic hires were made to expand global sales presence.

Fiscal year 2023 saw decreased revenues of $5.6 million and cost of revenues of $3.7 million, compared to $8.8 million and $4.7 million in 2022. Research and development expenses were $2.7 million, sales and marketing expenses were $3.0 million, and general and administrative expenses were $3.0 million. Key operational highlights included numerous IoT customer wins and certifications in cybersecurity and interoperability.



Read more at GlobeNewswire:: Actelis Networks Reports Fiscal Full Year 2023 Results