Press release
Actelis Networks Expands Footprint with New Contract for Intelligent Traffic System Networking in NYC
Actelis continues to expand its market footprint with a new order [https://finance.yahoo.com/news/actelis-receives-order-intelligent-traffic-123000335.html] for intelligent traffic system (ITS) networking from a densely populated municipality in the New York City metropolitan area. The new order, facilitated through Actelis' strategic partnership with Netceed, a large and prominent provider in the IoT and ITS markets, is a testament to the company's innovative hybrid-fiber technology, which is designed to provide fiber-grade connectivity over existing copper/coax networks. Actelis' ability to enable rapid, overnight deployment allows municipalities to quickly and cost-effectively upgrade their traffic management systems without the need for extensive new infrastructure.
In heavily congested areas like the NYC metro, the ability to implement secure, high-speed networking solutions overnight is a game-changer. Actelis' hybrid-fiber devices will be installed at key intersections, allowing for real-time monitoring and adaptive control of traffic conditions. This technology is expected to enhance traffic flow and safety, addressing one of the most pressing challenges faced by urban centers today.
Tuvia Barlev, Chairman and CEO of Actelis, emphasized the importance of this deployment: "Our technology empowers cities to rapidly expand their IoT infrastructure, enabling real-time data capture and remote adjustments. This flexibility is crucial for cities as they adapt to the evolving needs of intelligent transportation systems."
Strong Financial Results in Q2 2024
This new order comes on the heels of Actelis' impressive [https://finance.yahoo.com/news/actelis-networks-reports-q2-2024-214500877.html] Q2 2024 financial results, where the company reported an 81% year-over-year revenue increase to $3.43 million and achieved positive EBITDA for the first time since 2022. This performance was driven by the successful execution of large contracts, including a significant deal with the Washington D.C. Department of Transportation, further demonstrating the company's ability to deliver on its strategic initiatives.
Actelis' financial discipline has also been evident in its cost management efforts. The company reduced operating expenses by 20% year-over-year in the second quarter, contributing to a substantial narrowing of net loss. These results underscore Actelis' commitment to driving growth while maintaining a lean operational structure.
'Cyber Aware Networking' - Expanding SaaS Vertical
In addition to its strong financial performance, Actelis has recently announced [https://finance.yahoo.com/news/actelis-announces-strategic-partnership-launch-200500116.html] a partnership to launch an AI-powered SaaS platform as part of its 'Cyber Aware Networking' initiative. This new solution integrates advanced AI and machine learning into Actelis' networking devices, providing real-time monitoring and threat detection for IoT edge devices, which are often vulnerable points in critical infrastructure. This move enhances Actelis' cybersecurity offerings and adds a recurring software revenue stream, aligning with the company's strategy to expand its presence in the growing IoT market.
The 'Cyber Aware Networking' architecture is designed to protect and manage IoT networks with enterprise-grade security, ensuring that cities and organizations can securely expand their smart infrastructure. This strategic initiative highlights Actelis' commitment to innovation and its ability to meet the evolving needs of the IoT sector.
Going Forward
As Actelis continues to build on its recent successes, the company is well-positioned to capitalize on the growing demand for intelligent transportation solutions. The strategic focus on hybrid-fiber technology, combined with a disciplined approach to financial management, places Actelis at the forefront of the smart city revolution.
With its ability to deliver secure, high-performance networking solutions quickly and cost-effectively, Actelis is not just meeting the current needs of urban centers-it's setting the standard for the future of urban infrastructure.
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This article is for informational purposes only and is not intended to serve as financial, investment or any form of professional advice, reccomendation or endorsement. Please review the full documentation [https://justpaste.it/ecto7/pdf] detailing financial compensation disclosures and disclaimers the article is subject to. https://justpaste.it/ecto7/pdf. Global Markets News Network is acompensated to publish and syndicate commentary and exploration into innovative companies and industries and it is subject to conflicts of interest.
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