Actelis Networks reported strong financial results for Q3 2024, with revenues surging to $2.54 million, up from $845,000 in Q3 2023. The company significantly reduced its operating loss to $317,000 from $2.1 million year-over-year, while gross profit increased to $1.74 million from $226,000. The improvement was primarily driven by higher North American sales and improved regional revenue mix.The company continued to implement cost reduction measures across all departments, with research and development expenses decreasing to $543,000 from $691,000, and general and administrative costs declining to $790,000 from $971,000 year-over-year. For the nine months ended September 30, 2024, total revenues reached $6.7 million compared to $4.6 million in the same period last year.Despite the improved operational performance, Actelis faces ongoing liquidity challenges with negative working capital and an accumulated deficit of $42.2 million. The company raised funds through warrant exercises and an at-market offering program, generating approximately $5.25 million in gross proceeds during Q2-Q3 2024. Management continues to monitor cash flow projections and implement cost reduction measures while seeking additional financing options.

Actelis Networks reported strong financial results for Q3 2024, with revenues surging to $2.54 million, up from $845,000 in Q3 2023. The company significantly reduced its operating loss to $317,000 from $2.1 million year-over-year, while gross profit increased to $1.74 million from $226,000. The improvement was primarily driven by higher North American sales and improved regional revenue mix.The company continued to implement cost reduction measures across all departments, with research and development expenses decreasing to $543,000 from $691,000, and general and administrative costs declining to $790,000 from $971,000 year-over-year. For the nine months ended September 30, 2024, total revenues reached $6.7 million compared to $4.6 million in the same period last year.Despite the improved operational performance, Actelis faces ongoing liquidity challenges with negative working capital and an accumulated deficit of $42.2 million. The company raised funds through warrant exercises and an at-market offering program, generating approximately $5.25 million in gross proceeds during Q2-Q3 2024. Management continues to monitor cash flow projections and implement cost reduction measures while seeking additional financing options.