Core Viewpoint - Actelis Networks has officially launched MetaShield, a Cyber Aware Networking product aimed at enhancing its portfolio and establishing a robust SaaS business model, thereby delivering increased value to customers and differentiating its networking solutions [1][3]. Product Features - MetaShield integrates with existing Actelis products, allowing for rapid deployment without extensive infrastructure changes, which is crucial for sectors like government, defense, transportation, and utilities [2]. - The product includes advanced features such as real-time anomaly detection, AI-driven threat mitigation, and automated network responses, ensuring continuous operation under challenging conditions [2][8]. Strategic Importance - The launch of MetaShield is a significant milestone in Actelis' strategy to enhance its networking portfolio with AI-based cybersecurity, protecting edge devices from within the network [3][9]. - The company has received strong industry feedback during the pre-launch phase and plans to expand sales activities to bring this innovative solution to market [3]. Market Positioning - MetaShield is designed to meet the increasing demand for integrated cybersecurity and operational continuity management within IoT and critical infrastructure networks, providing deep continuous monitoring and real-time protection [8]. - The product aims to safeguard networks against operational failures and sophisticated cyber threats, particularly at the vulnerable edge of the network [8][10]. Company Vision - The launch of MetaShield reflects Actelis' commitment to innovation and sets the stage for future growth, enhancing customer value while contributing to the long-term vision of establishing a strong SaaS business model [9].

Core Insights - Actelis Networks, Inc. has received new orders from the Washington DC Department of Transportation (DDOT) to enhance its network connectivity infrastructure, following a previous order worth approximately $2.3 million announced in May 2024 [1][4] - The collaboration with M.C. Dean, a key integrator for DDOT, focuses on advanced cyber-physical systems for critical infrastructure [2] - Washington DC is identified as one of the most congested cities in the U.S., necessitating innovative traffic management solutions [3] Company Overview - Actelis is a leader in hybrid fiber-copper networking solutions, providing rapid deployment capabilities for IoT applications across various sectors including government and transportation [5] - The company's technology allows for the transformation of legacy wiring into Gigabit-capable infrastructure, supporting high-demand applications like traffic monitoring systems [4][5] - Actelis' "Cyber Aware Networking" initiative enhances network security through AI-based monitoring and protection for edge devices [5] Industry Context - The traffic congestion in Washington DC is attributed to high population density and significant visitor traffic, highlighting the need for effective traffic management systems [3] - Actelis' solutions are positioned as a cost-effective alternative for cities looking to modernize their traffic management infrastructure without the need for extensive new cabling [4][5]

FREMONT, Calif., Nov. 14, 2024 (GLOBE NEWSWIRE) -- Actelis Networks, Inc. (NASDAQ: ASNS) ("Actelis" or the "Company"), a market leader in cyber-hardened, rapid deployment networking solutions for wide area IoT applications, today reported financial results for the fiscal third quarter ended September 30, 2024. Financial Highlights for the Third Quarter and nine months ending September 30: Robust Revenue Growth, Surpassing Full-Year 2023 in Nine Months: Revenue reached $2.54 million in Q3 2024, a 200% year-o ...

Exhibit 99.1 Actelis Networks Reports Q3 2024 Results: 200% Quarterly Revenue Growth; 46% Year-to-Date Growth Reaching $6.7 Million Strong revenue growth and a significant increase in gross margin from 34% to 58% for the nine months ending June 2024. Q3 2024 EBITDA loss narrowed to $0.2 million, reflecting ongoing momentum and successful cost reduction ef orts. FREMONT, Calif., November 14, 2024 — Actelis Networks, Inc. (NASDAQ: ASNS) ("Actelis" or the "Company"), a market leader in cyber-hardened, rapid de ...

Revenue Performance - Revenues for Q3 2024 reached $2.54 million, a significant increase from $0.85 million in Q3 2023, primarily driven by a $1.4 million increase in North America due to volume growth and contract renewals[139] - For the nine months ended September 30, 2024, revenues totaled $6.7 million, up from $4.6 million in the same period last year, with a $3.4 million increase in North America offset by a $1.3 million decrease in Asia Pacific and EMEA[140] - Revenue for the nine months ended September 30, 2024, was $6.7 million, a 46.0% increase from $4.6 million for the same period in 2023[155] Cost and Profitability - Cost of revenues for Q3 2024 was $0.8 million, compared to $0.6 million in Q3 2023, attributed to increased revenues and changes in product mix[141] - Gross profit for Q3 2024 was $1.74 million, a substantial increase from $0.23 million in Q3 2023, reflecting improved operational efficiency[138] - Operating loss for Q3 2024 was $0.32 million, significantly reduced from a loss of $2.13 million in Q3 2023, indicating better cost management[138] - Operating loss for the nine months ended September 30, 2024, was $2.1 million, a 63.2% improvement compared to an operating loss of $5.7 million for the same period in 2023[150] - Net loss for the nine months ended September 30, 2024, was $2.6 million, a 40.9% decrease from a net loss of $4.4 million for the same period in 2023[154] Expenses - Research and development expenses for Q3 2024 were $0.54 million, down from $0.69 million in Q3 2023, suggesting a focus on cost control[138] - Research and development expenses for the nine months ended September 30, 2024, were $1.7 million, down 19.0% from $2.1 million for the same period in 2023[144] - General and administrative expenses for the nine months ended September 30, 2024, were $2.4 million, a 14.3% decrease from $2.8 million for the same period in 2023[147] Cash Flow and Financial Position - Cash on hand as of September 30, 2024, was approximately $2.3 million, with additional long-term deposits and restricted cash of $300,000[166] - The company has incurred significant losses, with an accumulated deficit of $42.2 million as of September 30, 2024[165] - Net cash used in operating activities decreased to $4.7 million for the nine months ended September 30, 2024, from $5.2 million for the same period in 2023, primarily due to cost reduction measures[168] - Net cash provided by investing activities improved to $0.2 million for the nine months ended September 30, 2024, compared to cash used of $1.4 million in the prior year, mainly due to a reduction in short-term bank deposits[169] - Net cash provided by financing activities was $1.6 million for the nine months ended September 30, 2024, down from $2.6 million in the same period of 2023, attributed to long-term loan repayments offset by funds raised from an investor warrant exercise[170] - As of September 30, 2024, the company had cash, cash equivalents, and restricted cash totaling $2.5 million, a decrease from $3.1 million as of September 30, 2023[167] Strategic Initiatives - The company is focused on expanding its IoT business while maintaining commitments to existing telecommunications customers, with new product offerings introduced in 2023[133] - The company received a delist determination letter from Nasdaq in March 2024 but subsequently demonstrated compliance with listing requirements by August 2024[134][135] - The ongoing conflict in Israel has not impacted clinical and business development activities, which remain on track[135] - The company is exploring potential acquisitions, having entered into a term sheet for acquiring 61% to 75% of Quality Industrial Corp, although the term sheet was later terminated[136] Other Income - Other income for the nine months ended September 30, 2024, amounted to $163,000, compared to none for the same period in 2023, due to a government grant received[148] - Financial income, net for the nine months ended September 30, 2024, was $138,000, down from $1.9 million for the same period in 2023[152] Securities Offering - The company filed a shelf registration statement allowing for the potential offering of securities up to $50.0 million[164]

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FREMONT, Calif., Oct. 28, 2024 (GLOBE NEWSWIRE) -- Actelis Networks, Inc. (NASDAQ:ASNS) ("Actelis" or the "Company"), a market leader in cyber-hardened, rapid deployment networking solutions for IoT applications, today announced that it has received a follow-on order for the expansion of its hybrid-fiber networking technology for a Major German Municipality. This order further strengthens Actelis' footprint in Germany, and further bolsters its presence in the field of intelligent transportation systems (ITS ...

FREMONT, Calif., Oct. 15, 2024 (GLOBE NEWSWIRE) -- Actelis Networks, Inc. (NASDAQ:ASNS) (“Actelis” or the “Company”), a market leader in cyber-hardened, rapid deployment networking solutions for IoT applications, today announced that it has received a new follow-on order in new geographies from a major aerial transportation agency operating underneath the umbrella of the U.S. Department of Transportation. This follows the significant order previously announced by Actelis in September, for the same agency, d ...

FREMONT, Calif., Oct. 02, 2024 (GLOBE NEWSWIRE) -- Actelis Networks, Inc. (NASDAQ:ASNS) (“Actelis” or the “Company”), a market leader in cyber-hardened, rapid deployment networking solutions for IoT applications, today announced that it has received a new order for its cyber-hardened temperature hardened networking technology for a major Italian motorways operator. This order is an expansion of an order previously announced in June for an Italian National Transportation Infrastructure Project of over $300,0 ...

FREMONT, Calif., Sept. 26, 2024 (GLOBE NEWSWIRE) -- Actelis Networks, Inc. (NASDAQ:ASNS) (“Actelis” or the “Company”), a market leader in cyber-hardened, rapid deployment networking solutions for IoT applications, today announced that it has received a $200,000 order from the United States Department of Military Affairs to supply a US Army National Guard base with its cyber-hardened hybrid-fiber networking solution. Actelis continues to build on its momentum in the federal government sector, having just rec ...