Actelis partners with Carahsoft for public sector distribution By Investing.com

FREMONT, Calif. – Actelis Networks, Inc. (NASDAQ:ASNS), known for its rapid deployment networking solutions for Internet of Things (IoT) applications, announced today a partnership with Carahsoft Technology Corp., a recognized government IT solutions provider. This collaboration will enable Actelis to distribute its hybrid-fiber connectivity solutions through Carahsoft’s network of resellers and government contract vehicles in the United States and Canada.

The partnership aims to provide federal, state, local, and educational agencies with enhanced access to Actelis’ technology, which is designed to upgrade existing and coax infrastructure to near fiber-grade performance. Actelis’ solutions are seen as a means to reduce project timelines and costs for government agencies looking to deploy IoT devices and systems.

Tuvia Barlev, Chairman & CEO of Actelis, expressed that the alliance with Carahsoft represents a significant advancement in the company’s efforts to integrate its solutions into government networks. Carahsoft’s Sales Executive for Smart Cities Technology Solutions, Lacey Wean, also conveyed enthusiasm for the partnership, highlighting the flexibility of Actelis’ solutions in expediting government networking projects.

Actelis’ technology is already in use in various cities globally, supporting smart city initiatives, intelligent transportation, military base modernization, utilities monitoring, and high-speed internet connectivity.

The solutions offered by Actelis are now available through Carahsoft’s NASA Solutions for Enterprise-Wide Procurement (SEWP) V contracts and OMNIA Partners Contract. The partnership is expected to leverage Carahsoft’s established presence in the public sector and its extensive network of resellers and integrators to facilitate the distribution of Actelis’ networking solutions.

Actelis Networks, Inc. is recognized in the market for its cyber-hardened networking solutions, which include a mix of hybrid fiber-copper, environmentally hardened switches, high-density Ethernet devices, advanced management software, and cyber-protection capabilities.

In other recent news, Actelis Networks has been making significant strides in its operations. The company has entered into a definitive agreement for the immediate exercise of outstanding warrants, expected to generate approximately $3 million in gross proceeds. These funds are slated for use as working capital for general corporate purposes, with H.C. Wainwright & Co. serving as the exclusive placement agent for the offering.

In addition, Actelis Networks recently announced the receipt of orders for its cyber-hardened technology to be implemented at three U.S. military bases, following recent cybersecurity certifications. The company has also revealed plans to acquire a majority stake in Quality Industrial Corporation, a Dubai-based company specializing in industrial and energy solutions. This merger is projected to create a combined entity with a proforma revenue of $17 million in 2023, with substantial growth expected for 2024.

Furthermore, Actelis Networks completed a traffic network upgrade in Bakersfield, California, deploying its patented hybrid-fiber technology to facilitate high-speed, real-time data transmission across the city’s traffic intersections. The company also secured a $2.3 million contract with the Washington D.C. Department of Transportation to provide a hybrid-fiber intelligent networking solution, aiming to modernize the city’s transportation infrastructure. These are recent developments, demonstrating Actelis Networks’ continued growth and expansion in its field.

InvestingPro Insights

As Actelis Networks, Inc. (NASDAQ:ASNS) embarks on a strategic partnership with Carahsoft Technology Corp., it’s essential for stakeholders to understand the financial health and market performance of the company. Actelis, while expanding its footprint in the public sector, operates with a significant debt burden and is quickly burning through cash, as per InvestingPro Tips. This could impact the company’s ability to sustain its growth initiatives and may affect its long-term viability.

The company’s market capitalization stands at a modest 4.53M USD, reflecting a relatively small player within the industry. Actelis has experienced a substantial revenue decline over the last twelve months as of Q1 2024, with a -49.11% change, indicating challenges in maintaining sales growth. Moreover, the company’s stock has been highly volatile, with a noteworthy 159.12% return over the last month, yet a concerning -55.3% return over the last year. This volatility may attract certain investors, but it also suggests a degree of uncertainty regarding the company’s future performance.

For investors looking for more comprehensive analysis and additional insights, there are 11 more InvestingPro Tips available. These tips provide a deeper dive into Actelis Networks’ financial metrics and market behavior, which could be invaluable for making informed investment decisions. Interested readers can use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription, gaining access to data that could help navigate the complexities of investing in a company like Actelis Networks.

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