Quarterly ResultMay 14, 2026, 05:02 PM
Actelis Networks Q1 Net Loss $2.46M; Nasdaq Delisted; Going Concern Doubt
AI Summary
Actelis Networks reported a net comprehensive loss of $2.46 million for Q1 2026, an increase from $1.86 million in Q1 2025, despite a rise in revenues to $958,000. The company's common stock was delisted from Nasdaq on April 10, 2026, and now trades on the OTCQB Venture Market. Management expressed substantial doubt about the company's ability to continue as a going concern due to significant losses and negative cash flows. The company also repurchased $1.04 million of its common stock.
Key Highlights
- Reported Q1 2026 net comprehensive loss of $2.46 million, up from $1.86 million in Q1 2025.
- Q1 2026 revenues increased to $958,000 from $721,000 in the prior year period.
- Company's common stock delisted from Nasdaq on April 10, 2026, now trades on OTCQB Venture Market.
- Management identified substantial doubt about the company's ability to continue as a going concern.
- Cash and cash equivalents rose to $7.55 million as of March 31, 2026.
- Accumulated deficit reached $54.78 million as of March 31, 2026.
- Repurchased 2,674,709 shares for $1.04 million in March 2026.
- Incurred $625,000 additional liability for commitment fees due to Nasdaq delisting.