Actelis Networks Q1 revenue $1.85M, net loss narrows to $1.9M; launches expense reduction plan

ACTELIS NETWORKS INC

2023-Q1 EPS reported -$1.09 revenue$1,848,000

Revenue $1.85M, down 1.1% YoY; gross margin improved to 37% from 31%.
Net loss improved 59% YoY to $1.9M; non-GAAP adjusted EBITDA loss widened to $1.6M from $1.0M.
Launched expense reduction program targeting ~15% of 2022 operating expenses on annualized basis.
Closed $3.5M private placement (944,670 shares + warrants) to support growth and reduce cash burn.
Received ~$210K in new orders from nine airports under SITA contract; continues FIPS certification.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ACTELIS NETWORKS INC reported fiscal first quarter ended March 31, 2023 results: revenue $1.85 million, net income $1.9 million (net loss).

Period: fiscal first quarter ended March 31, 2023
Revenue: $1.85 million
Net income: $1.9 million (net loss)
Result: reported results

Exact text from the filing

today reported financial results for the fiscal first quarter ended March 31, 2023. First Quarter 2023 Financial Highlights: ● Revenue decreased 1.1% year-over-year to $1.85 million for the first quarter ended March 31, 2023, due to a logistical and regulatory delay in product delivery to a first-time customer destination. ● Gross Margin increased to 37%

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Source: SEC EDGAR

accession 0001213900-23-038738

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