Actelis Networks (ASNS) Q4 2025 earnings summary

Executive summary

• Fourth quarter 2025 revenue rebounded, more than doubling sequentially to $1.4 million, with improved gross margins and operational momentum despite a challenging year impacted by a prolonged U.S. government shutdown.

• Full-year 2025 revenue was $3.7 million, down from $7.8 million in 2024, mainly due to the absence of two large deals from the prior year and delays in federal and infrastructure projects.

• The company expanded its footprint in federal, transportation, utilities, and telecom sectors, securing new deployments and advancing cost discipline initiatives.

Financial highlights

• Q4 2025 revenue grew 113% sequentially to $1.4 million and was up 29% year-over-year; gross margin improved to 35% from 28% in Q3.

• Full-year 2025 revenue was $3.7 million, with cost of revenues at $2.5 million, and gross profit at $1.2 million.

• Operating loss for 2025 was $7.2 million, up from $3.8 million in 2024, mainly due to lower sales and higher operating expenses from currency effects.

• Net loss for 2025 was $8.3 million, compared to $4.4 million in 2024; adjusted EBITDA loss was $6.9 million versus $3.5 million prior year.

• Cash and cash equivalents at year-end were $4 million, with an additional $7.3 million raised post-year-end via ATM facility.

Outlook and guidance

• Management expects benefits from cost reduction initiatives to become more visible in 2026.

• The company is positioned to benefit from AI-driven bandwidth demand, federal modernization programs, and increasing cybersecurity requirements.