Actelis Networks Q2 revenue rises, gross margin expands
ASNS•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
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
Key details
| Metric | Actual |
|---|---|
| Q2 Revenue | $1.13 mln |
| Q2 Net Loss | $1.39 mln |
| Q2 Adjusted EBITDA | -$1.5 mln |
| Q2 Gross Margin | 51% |
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
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