FREMONT, Calif. - Actelis Networks, Inc. (NASDAQ:ASNS), known for its cyber-hardened networking solutions, has recently completed an order for Bakersfield, California, to enhance the city's traffic management system. The technology provided by Actelis is designed to facilitate fiber-grade network connectivity to traffic intersections across the city, an integral part of Bakersfield's traffic system modernization.
This new deployment utilizes Actelis' patented hybrid-fiber technology, enabling high-speed, real-time data transmission between the traffic operations center and traffic controllers at various intersections. This upgrade is aimed at supporting adaptive signal timing, which is expected to improve travel experiences and reduce traffic congestion.
The choice of Actelis for this project is particularly noteworthy due to the existing infrastructure in Bakersfield, which includes a combination of fiber and copper wiring. The hybrid-fiber solution by Actelis offers a cost-effective alternative to the complete replacement of copper with fiber, eliminating significant expenses and engineering efforts.
Tuvia Barlev, Chairman and CEO of Actelis, emphasized the dual benefit of their technology, which not only enhances the performance of existing copper infrastructure but also prepares the city for a future transition to fiber.
The installation of this technology was managed by Crosstown Electrical & Data, a seasoned network integrator specializing in transportation department projects throughout California.
Actelis Networks, headquartered in Fremont, serves a wide range of applications with its networking solutions, including government, transportation, and utility sectors, among others. Their portfolio includes environmentally hardened aggregation switches, Ethernet devices, management software, and cybersecurity capabilities.
This initiative is part of Bakersfield's broader plans for the 2023/2024 period to improve its traffic systems and is in line with the city's goal to enhance road safety for its population exceeding 400,000 residents.
The information for this article is based on a press release statement from Actelis Networks, Inc.
InvestingPro Insights
As Actelis Networks, Inc. (NASDAQ:ASNS) moves forward with its latest project in Bakersfield, it's important for investors to consider the company's financial health and market performance. According to InvestingPro data, Actelis has a market capitalization of just 1.9 million USD, reflecting its status as a small-cap company. Despite the innovative solutions it provides, the company faces significant financial challenges, as evidenced by a negative price-to-earnings (P/E) ratio of -0.3 for the last twelve months as of Q4 2023. This metric suggests that the company is not currently profitable.
Additionally, Actelis' revenue has decreased by 36.52% over the last twelve months as of Q4 2023, indicating a contraction in its business operations during this period. This is further compounded by a substantial price decline, with the stock's one-year total return plummeting by -85.06% as of the same period.
InvestingPro Tips highlight several concerns for potential investors. Actelis operates with a significant debt burden and is quickly burning through cash, which are critical factors to consider when evaluating the company's long-term viability. Moreover, the stock has fared poorly over the last month and year, with its price falling significantly, which could be indicative of underlying issues or market sentiment.
For those interested in a deeper analysis, there are additional InvestingPro Tips available that can provide more insight into Actelis' financial situation and stock performance. With these tools, investors can make more informed decisions about whether to invest in Actelis Networks. To access these tips and take advantage of a special offer, use coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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