Actelis Networks reported strong Q2 2024 results with revenues increasing to $3.4 million, up from $1.9 million in Q2 2023. The company achieved an operating profit of $66,000 in Q2 2024, compared to an operating loss of $1.7 million in the same period last year. Net loss significantly narrowed to $78,000 from $1.6 million year-over-year.The improved performance was driven by increased North American sales and enhanced operational efficiency through cost reduction measures. Gross profit rose to $1.9 million in Q2 2024 from $632,000 in Q2 2023, while operating expenses decreased to $1.9 million from $2.4 million. The company also received a $163,000 government grant related to the Israel-Hamas conflict.Looking ahead, Actelis faces ongoing challenges including Nasdaq listing compliance requirements and geopolitical risks in Israel where its R&D facilities are located. The company's cash position stood at $3.3 million as of June 30, 2024, with management actively pursuing additional funding options while implementing strategic cost controls to support continued growth.

Actelis Networks reported strong Q2 2024 results with revenues increasing to $3.4 million, up from $1.9 million in Q2 2023. The company achieved an operating profit of $66,000 in Q2 2024, compared to an operating loss of $1.7 million in the same period last year. Net loss significantly narrowed to $78,000 from $1.6 million year-over-year.The improved performance was driven by increased North American sales and enhanced operational efficiency through cost reduction measures. Gross profit rose to $1.9 million in Q2 2024 from $632,000 in Q2 2023, while operating expenses decreased to $1.9 million from $2.4 million. The company also received a $163,000 government grant related to the Israel-Hamas conflict.Looking ahead, Actelis faces ongoing challenges including Nasdaq listing compliance requirements and geopolitical risks in Israel where its R&D facilities are located. The company's cash position stood at $3.3 million as of June 30, 2024, with management actively pursuing additional funding options while implementing strategic cost controls to support continued growth.