Actelis Networks (OTCQB:ASNS) reported Q1 2026 revenue of $958,000, a 33% increase from $721,000 last year.
The company provides networking solutions for IoT and broadband, attributing growth to deliveries to cities and telecoms in the U.S. and Asia. North America revenue rose 25%; EMEA grew 27%.
Analysts forecast 123% revenue growth for fiscal 2026.
Net loss widened to $2.46 million ($0.16 per share) from $1.86 million ($2.18 per share).
Gross profit fell to $235,000 (25% of revenue) from $251,000 (35%), due to a low-margin deal of ~$200,000 in the U.S. and higher indirect costs.
Operating expenses were $2.1 million. Cost cuts were offset by ~$125,000 unfavorable FX impact from the strengthening Israeli shekel.
Cash stood at $7.5 million vs $4.4 million, boosted by $6.9 million in ATM sales. However, the company is burning cash quickly, with levered free cash flow at -$7.7 million over 12 months.
Shares were delisted from Nasdaq and now trade on OTCQB. The stock has fallen 98.87% over the past year, currently at $0.09.
Actelis has a binding term sheet to acquire Exaware Routing Ltd. in an all-stock deal.
