Actelis Networks Q1 revenue falls 61% YoY to $0.73M; net loss widens to $2.0M

ACTELIS NETWORKS INC

2024-Q1 EPS reported -$0.50 revenue$726,000

Revenue of $0.73M, down from $1.85M a year ago, due to delayed customer deliveries.
Net loss of $2.0M compared to $1.9M in Q1 2023; adjusted EBITDA loss of $1.8M.
Gross margin contracted to 30% from 37%; operating expenses down 20% to $2.09M.
Secured $2.3M order from Washington D.C. Department of Transportation for smart city upgrades.
CFO Yoav Efron promoted to Deputy CEO and CFO.

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, 2024 results: revenue $0.73 million, net income $2.0 million.

Period: fiscal first quarter ended March 31, 2024
Revenue: $0.73 million
Net income: $2.0 million
Result: reported results

Exact text from the filing

reported financial results for the fiscal first quarter ended March 31, 2024. First Quarter 2024 Financial Highlights: ● Strategic shift to IoT sales continues: Revenue at $0.73 million for the first quarter ended March 31, 2024 compared to $1.85 million in the year ago period, driven by delay in customer order delivery to the second quarter of 2024. ● Fixed

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Source: SEC EDGAR

accession 0001213900-24-043045

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