Actelis Networks Q2 revenue rises, gross margin expands
Actelis Networks Q2 revenue rises, gross margin expands
Overview
US networking solutions provider's Q2 revenue rose 20% yr/yr, driven by software and services
Gross margin expanded to 51% in Q2, reflecting improved software and services mix
Company implemented cost-reduction and operational-efficiency actions amid its Nasdaq relisting efforts
Outlook
Company expects annualized cost savings of about $1 mln from recent efficiency initiatives
Actelis continues to pursue relisting on Nasdaq, advancing structural steps as market conditions allow
Result Drivers
SOFTWARE AND SERVICES MIX - Revenue growth and gross margin expansion attributed to improved software and services mix, including a large renewal from a North American carrier
COST REDUCTION MEASURES - Company executed cost-reduction and operational-efficiency initiatives, including facility downsizing and outsourcing certain functions
ITS AND GL800 MARKET EXPANSION - Continued expansion in Intelligent Transportation Systems markets and new orders for GL800 platform in Europe supported sales
Company press release: ID:nGNXbS9rzh
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| $1.13 mln |
|
Q2 Net Loss |
| $1.39 mln |
|
Q2 Adjusted EBITDA |
| -$1.5 mln |
|
Q2 Gross Margin |
| 51% |
|
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the construction & engineering peer group is "buy"
Wall Street's median 12-month price target for Actelis Networks Inc is $3.00, about 6,718.2% above its August 12 closing price of $0.04
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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See all newsActelis Networks Q2 revenue rises, gross margin expands
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