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Midas Edge

ACTELIS NETWORKS INC

For the period ended Jun 30, 2025. Filed Aug 14, 2025.

View on SEC.gov

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2025 · Filed Aug 14, 2025

ASNS$0.04+15.5%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits
Contents

Item 1. Condensed Consolidated Balance Sheets

( U. S. dollars in thousands except for share and per share amounts)

June 30, 2025December 31, 2024
Assets
CURRENT ASSETS:
Cash and cash equivalents3931,967
Restricted cash equivalents302300
Restricted bank deposits71-
Trade receivables, net of allowance for credit losses of $168 as of June 30, 2025, and December 31, 2024.9431,616
Inventories2,5192,436
Prepaid expenses and other current assets, net of allowance for doubtful debts of $181 as of June 30, 2025, and December 31, 2024.600584
TOTAL CURRENT ASSETS4,8286,903
NON-CURRENT ASSETS:
Property and equipment, net3338
Prepaid expenses and other534492
Restricted bank deposits3091
Severance pay fund223205
Operating lease right of use assets241410
Long-term deposits9386
TOTAL NON-CURRENT ASSETS1,1541,322
TOTAL ASSETS5,9828,225

CONDENSED CONSOLIDATED BALANCE SHEETS (continued)

(U. S. dollars in thousands)

June 30, 2025December 31, 2024
Liabilities, Mezzanine Equity and shareholders’ equity
CURRENT LIABILITIES:
Credit line236774
Short-term loan305-
Trade payables1,020982
Deferred revenues325246
Employee and employee-related obligations858688
Accrued royalties731673
Current maturities of operating lease liabilities229415
Other current liabilities535805
TOTAL CURRENT LIABILITIES4,2394,583
NON-CURRENT LIABILITIES:
Long-term loan150150
Deferred revenues7492
Accrued severance250229
Other long-term liabilities17186
TOTAL NON-CURRENT LIABILITIES491657
TOTAL LIABILITIES4,7305,240
COMMITMENTS AND CONTINGENCIES (Note 5)
MEZZANINE EQUITY
Redeemable convertible preferred stock - $0.0001 par value, 10,000,000 authorized as of June 30, 2025 and December 31, 2024. None issued and outstanding as of June 30, 2025 and December 31, 2024.--
WARRANTS TO PLACEMENT AGENT228228
SHAREHOLDERS’ EQUITY:
Common stock, $0.0001 par value: 30,000,000 shares authorized: 9,540,221 and 7,623,159 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively.11
Non-voting common stock, $0.0001 par value: 2,803,774 shares authorized as of June 30, 2025, and December 31, 2024, None issued and outstanding as of June 30, 2025 and December 31, 2024.--
Additional paid-in capital48,84646,818
Accumulated deficit(47,823)(44,062)
TOTAL SHAREHOLDERS’ EQUITY1,0242,757
TOTAL LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ EQUITY5,9828,225

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(U. S. dollars in thousands)

Six months ended June 30,Three months ended June 30,
2025202420252024
REVENUES1,6624,1579413,431
COST OF REVENUES1,1061,9946361,488
GROSS PROFIT5562,1633051,943
OPERATING EXPENSES:
Research and development expenses1,3561,250675603
Sales and marketing expenses1,3661,274700647
General and administrative expenses1,4191,607703790
Other income-(163)-(163)
TOTAL OPERATING EXPENSES4,1413,9682,0781,877
OPERATING INCOME (LOSS)(3,585)(1,805)(1,773)66
Interest expense(56)(344)(22)(137)
Other Financial income (expense), net(120)85(106)(7)
NET COMPREHENSIVE LOSS FOR THE PERIOD(3,761)(2,064)(1,901)(78)
Net loss per share attributable to common shareholders – basic and diluted(0.43)(0.51)(0.21)(0.01)
Weighted average number of common stocks used in computing net loss per share – basic and diluted8,837,4414,000,9949,144,1254,257,674

CONDENSED CONSOLIDATED STATEMENTS OF MEZZANINE EQUITY AND SHAREHOLDERS’ EQUITY

U.S. dollars in thousands (except number of shares)

Redeemable Convertible Preferred Stock · Warrants To Placement Agent · Common Stock · Non-voting Common Stock · Additional · Total
Six months ended · Amount · Amount · Number of shares · Amount · Number of shares · Amount · paid-in capital · Accumulated deficit · shareholders’ equity
BALANCE AS OF JANUARY 1, 2024-1593,007,7451--39,916(39,688)229
Share based compensation------179-179
Exercise of options into common stock21,225*32-32
Vesting of RSUs--18,495*--(*)--
Warrant inducement agreement, net of offering costs-42999,670*--2,560-2,560
Exercise of Pre funded warrants into common stock--970,187*----*
Net comprehensive loss for the period-------(2,064)(2,064)
BALANCE AS OF JUNE 30, 2024-2015,017,3221--42,687(41,752)936
BALANCE AS OF JANUARY 1, 2025-2287,623,1591--46,818(44,062)2,757
Share based compensation------129-129
Vesting of RSUs--15,763*--(*)--
Issuance of common stock, net of offering costs--1,901,299*--1,8771,877
Warrants to lender------22-22
Net comprehensive loss for the period-------(3,761)(3,761)
BALANCE AS OF June 30, 2025-2289,540,2211--48,846(47,823)1,024
*Represents an amount less than $1 thousand.

The accompanying notes are an integral part of these condensed consolidated financial statements (Unaudited)

CONSOLIDATED STATEMENTS OF MEZZANINE EQUITY AND SHAREHOLDERS’ EQUITY (CAPITAL DEFICIENCY)

U.S. dollars in thousands (except number of shares)

Redeemable Convertible Preferred Stock · Warrants To Placement Agent · Common Stock · Non-voting Common Stock · Additional · Total shareholders’
Three Months Ended · Amount · Number of shares · Amount · Number of shares · Amount · paid-in capital · Accumulated deficit · equity (capital deficiency)
BALANCE AS OF APRIL 1, 2024-1593,010,2441--40,005(41,674)(1,668)
Share based compensation------90-90
Vesting of RSUs--15,996*--(*)--
Exercise of options into common stock--21,225---32-32
Exercise of Pre funded warrants into common stock--970,187*----*
Warrant inducement agreement, net of offering costs-42999,670---2,560-2,560
Net comprehensive loss for the period-------(78)(78)
BALANCE AS OF JUNE 30, 2024-2015,017,3221--42,687(41,752)936
BALANCE AS OF APRIL 1, 2025-2289,019,7581--48,499(45,922)2,578
Share based compensation------50-50
Vesting of RSUs--14,098*--(*)--
Issuance of common stock, net of offering costs--506,365*--297-297
Net comprehensive loss for the period-------(1,901)(1,901)
BALANCE AS OF June 30, 2025-2289,540,2211--48,846(47,823)1,024
*Represents an amount less than $1 thousand.
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.