FREMONT, Calif. - Actelis Networks, Inc. (NASDAQ:ASNS), a provider of networking solutions for IoT applications, has announced receipt of orders for its cyber-hardened technology to be implemented on three U.S. military bases. The orders come as a direct outcome of the company's recent cybersecurity certifications.
In early 2024, Actelis achieved certification from the Joint Interoperability Test Command and was placed on the Department of Defense Information Network (DoDIN) Approved Products List. Subsequently, in February, the company secured the U.S. Department of Commerce National Institute of Standards and Technology (NIST) certification for the FIPS 140-2 cryptographic standard. These milestones have been pivotal for the company's growth within the military network ecosystem.
Tuvia Barlev, Chairman and CEO of Actelis, expressed satisfaction with the progression, attributing the new orders to the company's investment in obtaining government security certifications.
Actelis' networking solution is designed to expedite base modernization for the military by providing immediate fiber-grade connectivity to IoT devices and systems. This is achieved without extensive engineering or construction work, potentially saving time and financial resources for military and federal installations.
The company's products stand out with features such as 256-bit MACsec encryption and data fragmentation, aimed at enhancing security, especially for IoT devices at the network edge.
This announcement is based on a press release statement by Actelis Networks, Inc. The company, listed on NASDAQ:ASNS, is recognized for its cyber-hardened, rapid-deployment networking solutions across various sectors, including government and military applications.
InvestingPro Insights
While Actelis Networks, Inc. (ASNS) has recently made strides in the military sector with its cyber-hardened technology, the company's financial health shows significant challenges. According to InvestingPro data, Actelis Networks has a market capitalization of just 1.41 million USD. This is indicative of a relatively small player within the industry, which could impact its ability to sustain large-scale operations and investments.
The company's financials further reveal a troubling picture: with a negative P/E ratio of -0.26 and an adjusted P/E ratio for the last twelve months as of Q1 2024 standing at -0.22, Actelis Networks is currently not profitable. Additionally, the revenue has seen a sharp decline of 49.11% over the last twelve months, signaling potential issues in maintaining sales growth.
InvestingPro Tips highlight that Actelis Networks operates with a significant debt burden and is quickly burning through cash. These factors, coupled with the fact that short-term obligations exceed liquid assets, suggest that the company may face liquidity challenges in the near future. Moreover, the stock has fared poorly over the last month with a price total return of -25.6%, reflecting investor concerns and market reactions to the company's financial position.
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