Group 1 - Ondas Holdings Inc. (NASDAQ:ONDS) experienced a significant stock price increase of 15.47%, closing at $6.42 after raising $217 million through a follow-on share offering that was fully subscribed by investors [1][2] - The company issued 46 million new shares, including 6 million shares under an overallotment option, to fund corporate development and strategic growth initiatives, including acquisitions and joint ventures [2] - Ondas launched a new business unit, Ondas Capital, aimed at accelerating the deployment of unmanned and autonomous systems in defense and security markets, with a focus on Eastern Europe and Ukraine [3][4] Group 2 - Ondas plans to invest at least $150 million in the new business unit over the next two years, with investments expected to commence in the fourth quarter of 2025 [4]

Core Viewpoint - Ondas Holdings Inc. has successfully closed an underwritten offering of 46 million shares of common stock, raising approximately $217 million in net proceeds after expenses [1] Group 1: Offering Details - The offering included 6 million shares sold due to the full exercise of the underwriters' over-allotment option [1] - The total number of shares offered was 46 million [1] Group 2: Financial Impact - Ondas estimates net proceeds from the offering to be around $217 million after deducting underwriting discounts, commissions, and estimated offering expenses [1]

Core Viewpoint - Safe Pro Group Inc. has secured a private placement with strategic investors to enhance its AI-powered defense solutions, particularly in the drone market, which is projected to grow significantly due to increased government funding and new legislation [1][4]. Company Summary - Safe Pro Group Inc. is a leader in AI-enabled defense and security solutions, focusing on drone imagery processing and advanced situational awareness tools for various sectors including defense and humanitarian applications [8][9]. - The company has developed patented technologies such as the Safe Pro Object Threat Detection (SPOTD) and the Navigation Observation Detection Engine (NODE), which are designed to improve operational efficiency in military and commercial markets [3][5]. Investment Details - The private placement involves the sale of 2,000,000 shares at $4.00 per share, along with warrants for an additional 2,000,000 shares at an exercise price of $6.00, potentially raising up to $20 million [3]. - This investment is expected to strengthen Safe Pro's financial position and facilitate the commercialization of its AI technologies [3]. Market Context - The U.S. Senate Appropriations Committee has proposed a $617 million increase in funding for small unmanned aircraft systems (SUAS), alongside the One Big Beautiful Bill Act (OBBBA) which allocates up to $30 billion for new drone and AI spending [4]. - The global drone accessories market is currently valued at $17.5 billion and is projected to exceed $115 billion by 2032, indicating a robust growth trajectory for the industry [11]. Strategic Partnerships - Safe Pro has partnered with Ondas Holdings Inc. and Unusual Machines Inc., both leaders in the drone industry, to enhance its technological capabilities and market reach [1][6]. - These partnerships aim to accelerate the development and deployment of advanced AI solutions in the unmanned systems sector, contributing to the removal of landmines and enhancing U.S. leadership in the global drone market [6].

Core Viewpoint - Ondas Holdings is strategically positioned to benefit from a significant boom in the drone industry, driven by increasing defense demand, new federal policies, and global adoption, with a projected revenue surge starting in 2025 [1] Group 1: Company Overview - Ondas Holdings is recognized as a leading U.S. pure-play drone manufacturer, expected to capitalize on a multi-year supercycle in unmanned aerial systems (UAS) [2][4] - The company offers a comprehensive portfolio that includes defense, homeland security, drones-as-a-first-responder, and critical infrastructure solutions [4] Group 2: Financial Projections - Revenue is projected to increase by 234% year-over-year to $24 million in 2025, primarily driven by defense orders and expanding U.S. pilots [6] - In 2026, revenues are expected to surge by 194% to $71 million, with significant contributions from the Autonomous Systems division [7] - Gross margins are anticipated to expand from 5% in 2024 to 43% in 2025, and further to 48% in 2026 as production scales [8] Group 3: Market Dynamics - The drone industry is entering a multi-year supercycle, supported by rising global demand for autonomous platforms and favorable U.S. legislation [4] - New U.S. executive orders are expected to expedite BVLOS approval and enhance federal procurement of U.S. drones, aligning Ondas with positive policy momentum [5]

Group 1: CoreWeave Inc Financial Results - CoreWeave reported a revenue of $1.21 billion for the second quarter, exceeding analysts' expectations of $1.08 billion [1] - The company's adjusted loss per share was 27 cents, which was worse than the anticipated loss of 17 cents per share [1] Group 2: Stock Movements - CoreWeave shares fell 8.8% to $135.72 in pre-market trading following the mixed quarterly results [2] - Profrac Holding Corp shares tumbled 29.4% to $4.46 after pricing a $75 million stock offering at $4 per share [4] - CAVA Group Inc shares dipped 24% to $64.26 after reporting worse-than-expected quarterly sales results [4] - Journey Medical Corp shares declined 20.5% to $6.79 after reporting disappointing second-quarter EPS results [4] - Ondas Holdings Inc shares fell 17.5% to $3.54 after announcing a proposed public offering [4] - KinderCare Learning Companies Inc shares dropped 16.4% to $8.20 after missing second-quarter earnings estimates and narrowing 2025 guidance [4] - Endeavour Silver Corp shares fell 13.9% to $4.95 after posting a loss for the second quarter [4] - Stratasys Ltd shares dipped 13.4% to $9.80 following second-quarter results [4] - Denison Mines Corp shares declined 8.8% to $1.97 as the company announced the pricing of upsized $300 million convertible senior notes offering [4] - Hanesbrands Inc shares fell 7.7% to $5.70 after a previous jump of 28% due to acquisition news [4] - Penguin Solutions Inc shares fell 5.8% to $22.84 in pre-market trading [4]

Core Points - Ondas Holdings Inc announced a proposed public offering of its common stock, with the size of the offering not disclosed, and plans to grant underwriters a 30-day option to purchase additional shares [1][2] - The net proceeds from the offering are expected to be used for working capital, general corporate purposes, and potential strategic transactions [2] - Ondas reported second-quarter revenue of $6.27 million, exceeding estimates of $4.97 million, and a quarterly loss of eight cents per share, better than the estimated loss of 10 cents per share [3] - The company ended the quarter with approximately $68.55 million in cash, cash equivalents, and restricted cash [3] - Ondas stated that it retired the remaining balance of its convertible notes in July, enhancing its financial position, and anticipates a record backlog and clear revenue visibility into 2026 [4] - Following the announcement, Ondas shares fell by 13.05% in after-hours trading, reaching $3.73 [5]

分组1 - Ondas Holdings Inc. reported a quarterly loss of $0.08 per share, better than the Zacks Consensus Estimate of a loss of $0.11, and improved from a loss of $0.14 per share a year ago, resulting in an earnings surprise of +27.27% [1] - The company achieved revenues of $6.27 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 11.92%, and significantly up from $0.96 million in the same quarter last year [2] - Ondas has outperformed the S&P 500, with shares increasing about 34% since the beginning of the year compared to the S&P 500's gain of 8.4% [3] 分组2 - The earnings outlook for Ondas is mixed, with the current consensus EPS estimate for the coming quarter at -$0.08 on revenues of $5.86 million, and -$0.36 on revenues of $22.52 million for the current fiscal year [7] - The Communication - Network Software industry, to which Ondas belongs, is currently ranked in the bottom 26% of over 250 Zacks industries, indicating potential challenges for stock performance [8]

Core Viewpoint - The drone sector in the U.S. stock market experienced significant gains, with Ondas Holdings reporting a substantial revenue increase in Q2, exceeding analyst expectations [1] Company Summaries - Ondas Holdings (ONDS.US) saw its stock price rise over 22% after reporting a sixfold increase in Q2 revenue, reaching $6.3 million, surpassing the FactSet analyst forecast of $5.8 million [1] - Archer Aviation (ACHR.US) experienced a stock price increase of over 5% [1] - Joby Aviation (JOBY.US) saw its stock price rise by over 6.7% [1] - Kratos Defense and Security Solutions (KTOS.US) had a stock price increase of over 3% [1]

Financial Data and Key Metrics Changes - The company reported record quarterly revenue of $6.3 million, a more than six-fold increase compared to the same period last year and up 50% sequentially [7][23] - Gross profit was $3.3 million, representing a 53% gross margin, compared to a gross loss of $200,000 in Q2 2024 [23] - Operating expenses increased to $12.6 million from $8.1 million in Q2 2024, primarily due to increased human resource costs [24][28] Business Line Data and Key Metrics Changes - Ondas Autonomous Systems (OAS) generated approximately $6.1 million in revenue, a more than six-fold increase from the same period in 2024 [43] - OAS secured over $39 million in orders in the last twelve months, with a backlog of $22 million at the end of Q2, up from $10 million at the end of 2024 [12][65] - Ondas Networks advanced its long-term strategy with significant milestones, including the selection of its DOT-16 protocol by the Association of American Railroads [11][33] Market Data and Key Metrics Changes - OAS is expanding its footprint in defense and homeland security markets in Europe, the Middle East, and the United States [8] - The company is experiencing strong interest in its Iron Drone radar system, which has been combat-proven with leading military customers [8][10] - The backlog growth is translating into revenue, with operational footprints expanding in the U.S. and Europe [12][28] Company Strategy and Development Direction - The company aims to build a scalable, well-capitalized operating platform, converting backlog into revenue and creating visibility for continued growth into 2026 [15][30] - The partnership with Mistral is expected to accelerate U.S. government adoption of IronDrone and Optimus [14] - The company is pursuing a strategic M&A program to enhance capabilities and market reach [14][60] Management's Comments on Operating Environment and Future Outlook - Management believes the drone sector is benefiting from significant policy tailwinds, including new FAA rulemaking processes [15][16] - The company anticipates a record year of revenue growth primarily driven by OAS, reaffirming its full-year revenue target of at least $25 million [7][65] - Management expressed confidence in capturing significant strategically important orders from new customers in 2025 [7][65] Other Important Information - The company ended Q2 with $68.6 million in cash and fully retired the remaining balance of convertible notes through equity conversion [12][28] - Shareholders' equity increased to $90.8 million as of June 30, 2025, compared to $16.6 million at the end of 2024 [29] Q&A Session Summary Question: Can you clarify the source of the $23 million bookings confidence and the balance between international and U.S. demand? - Management indicated that new customer programs typically start with small orders, which can expand into larger infrastructure build-outs over time, leading to larger orders in the future [71] Question: Are the two control acquisitions in addition to the recent acquisition of Zikle? - Yes, these acquisitions are in addition to the Zikle transaction and are expected to be revenue-generating [73] Question: Is the gross margin a good reflection of what the OAS business looks like at scale? - Management believes that while the current gross margin is strong, there is potential for improvement as the business scales [75] Question: Can you provide more details on the Kestrel win with the Urban Public Safety Agency? - The Kestrel system is part of a layered security approach, and there is significant demand for counter UAS technologies [79] Question: Are there other police departments in the U.S. interested in your technologies? - There is significant interest from various defense and public safety organizations, but specific names cannot be disclosed at this time [83]

[PART I - FINANCIAL INFORMATION](index=4&type=section&id=PART%20I%20-%20FINANCIAL%20INFORMATION) [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) The company's financial statements for the period ended June 30, 2025, show a significant increase in total assets to $152.0 million from $109.6 million at year-end 2024, primarily driven by a substantial rise in cash from financing activities. Revenues for the second quarter and first half of 2025 grew dramatically to $6.3 million and $10.5 million, respectively, compared to the prior year, leading to a positive gross profit. However, increased operating expenses resulted in a higher net loss of $24.9 million for the six-month period. Cash flow from financing activities was a strong inflow of $53.9 million, mainly from a public offering and warrant exercises, which significantly improved the company's liquidity position [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2025, the company's total assets increased to $152.0 million from $109.6 million at December 31, 2024, largely due to a significant rise in cash to $67.6 million. Total liabilities decreased to $39.3 million from $73.7 million, primarily from the repayment of convertible notes. Consequently, total stockholders' equity improved substantially to $90.8 million from $16.6 million Condensed Consolidated Balance Sheet Highlights (in thousands) | Balance Sheet Item | June 30, 2025 (Unaudited) | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash | $67,568 | $29,958 | | Total current assets | $91,210 | $47,521 | | Total assets | $151,951 | $109,622 | | **Liabilities & Equity** | | | | Total current liabilities | $31,490 | $50,577 | | Total liabilities | $39,293 | $73,678 | | Total stockholders' equity | $90,821 | $16,583 | | **Total liabilities and stockholders' equity** | **$151,951** | **$109,622** | [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) For the three and six months ended June 30, 2025, revenues significantly increased to $6.3 million and $10.5 million, respectively, compared to the same periods in 2024. This drove a shift from a gross loss to a gross profit of $3.3 million for the quarter and $4.8 million for the six-month period. Despite revenue growth, higher operating and interest expenses led to an increased net loss attributable to common stockholders of $12.0 million for the quarter and $27.4 million for the six months Statement of Operations Summary (in thousands) | Metric | Q2 2025 | Q2 2024 | 6 Months 2025 | 6 Months 2024 | | :--- | :--- | :--- | :--- | :--- | | Revenues, net | $6,273 | $958 | $10,522 | $1,583 | | Gross profit (loss) | $3,332 | $(191) | $4,821 | $(586) | | Operating loss | $(9,249) | $(8,304) | $(19,560) | $(17,431) | | Net loss | $(10,750) | $(8,270) | $(24,887) | $(18,146) | | Net loss attributable to common stockholders | $(12,019) | $(9,378) | $(27,362) | $(20,227) | | Net loss per share | $(0.08) | $(0.14) | $(0.21) | $(0.31) | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the six months ended June 30, 2025, net cash used in operating activities was $15.1 million, a slight improvement from $16.3 million in the prior year period. Investing activities used a minimal $0.3 million. Financing activities provided a substantial $53.9 million in cash, primarily from a $42.7 million public offering and $10.0 million from the exercise of options and warrants. This resulted in a significant increase in cash and restricted cash, which ended the period at $68.6 million Cash Flow Summary (in thousands) | Cash Flow Activity | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | $(15,063) | $(16,275) | | Net cash used in investing activities | $(306) | $(2,315) | | Net cash provided by financing activities | $53,921 | $8,543 | | **Increase (decrease) in cash** | **$38,552** | **$(10,047)** | | Cash, beginning of period | $29,999 | $15,022 | | **Cash, end of period** | **$68,551** | **$4,975** | [Notes to the Unaudited Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20the%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) The notes detail the company's business structure, comprising Ondas Networks and Ondas Autonomous Systems (OAS), and key accounting policies. A significant development is the alleviation of substantial doubt about the company's ability to continue as a going concern, following successful capital raises in Q2 2025. The notes also provide breakdowns of revenue by type and geography, details on debt instruments (many of which were repaid in 2025), equity transactions including a major public offering, segment performance showing strong revenue growth in the OAS segment, and related party transactions - The company operates through two business segments: Ondas Networks (private wireless connectivity) and Ondas Autonomous Systems (OAS), which provides drone and automated data solutions[22](index=22&type=chunk) - Management concluded that substantial doubt about the Company's ability to continue as a going concern no longer exists as of August 12, 2025, following capital raises of approximately **$42.7 million** from a public offering and **$9.0 million** from warrant/option exercises in Q2 2025[34](index=34&type=chunk)[35](index=35&type=chunk) - As of July 18, 2025, the 2022 Convertible Promissory Notes, 2023 Additional Notes, and 2024 Additional Notes have been repaid in full, significantly deleveraging the balance sheet[32](index=32&type=chunk) Disaggregated Revenue by Type (Six Months Ended June 30) | Revenue Type | 2025 | 2024 | | :--- | :--- | :--- | | Product revenue | $6,828,993 | $24,758 | | Service and subscription revenue | $3,304,768 | $608,140 | | Development revenue | $387,809 | $949,962 | | **Total revenue** | **$10,521,570** | **$1,582,860** | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=52&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes the significant revenue growth in the first half of 2025 to the Ondas Autonomous Systems (OAS) segment, which had multi-drone sales with associated services. This led to a substantial improvement in gross profit, turning a loss in H1 2024 into a $4.8 million profit in H1 2025. However, operating expenses also rose by 45% due to increased headcount, stock-based compensation, and R&D investment, resulting in a higher operating loss. The company's liquidity has been significantly strengthened by a $42.7 million public offering and nearly $10 million from warrant exercises, alleviating previous going concern doubts [Results of Operations](index=54&type=section&id=Results%20of%20Operations) Comparing the first six months of 2025 to 2024, revenue surged by $8.9 million to $10.5 million, driven by the OAS segment's product and service sales. This resulted in a gross profit of $4.8 million, a $5.4 million improvement from the prior year's loss. Operating expenses increased by $7.5 million, primarily due to higher human resource costs (including $2.8 million in stock-based compensation), professional fees, and R&D investments. The combination of these factors led to a net loss of $24.9 million, an increase from $18.1 million in the prior year Financial Performance Comparison (Six Months Ended June 30) | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Revenue, net | $10,521,570 | $1,582,860 | | Gross profit (loss) | $4,820,620 | $(585,877) | | Operating loss | $(19,559,542) | $(17,430,785) | | Net loss | $(24,886,500) | $(18,145,820) | - The increase in revenue was primarily driven by the OAS segment, which grew by **$9.5 million** year-over-year due to multi-drone orders. The Ondas Networks segment saw a revenue decrease of **$0.6 million**[273](index=273&type=chunk) - Operating expenses rose by **45%** (**$7.5 million**), with key drivers being a **$6.5 million** increase in human resource costs (including a **$2.8 million** increase in stock-based compensation) and an **$0.8 million** increase in professional fees[280](index=280&type=chunk) [Liquidity and Capital Resources](index=63&type=section&id=Liquidity%20and%20Capital%20Resources) The company's liquidity position has significantly improved. As of June 30, 2025, cash and restricted cash stood at $68.6 million. This was bolstered by financing activities in the first half of 2025, including approximately $42.7 million net proceeds from a public offering and $10.0 million from the exercise of stock options and warrants. These funds have alleviated the substantial doubt about the company's ability to continue as a going concern, and management believes there is sufficient capital to fund operations for the next twelve months - As of June 30, 2025, the company had cash and restricted cash of approximately **$68.6 million** and working capital of approximately **$59.7 million**[290](index=290&type=chunk) - Key financing activities in H1 2025 included raising **$42.7 million** from a registered public offering and **$10.0 million** from the exercise of stock options and warrants[292](index=292&type=chunk) - Management has concluded that substantial doubt about the Company's ability to continue as a going concern no longer exists[295](index=295&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=65&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company is a smaller reporting company and is not required to provide information under this item - As a smaller reporting company, Ondas Holdings Inc. is exempt from the requirement to provide quantitative and qualitative disclosures about market risk[303](index=303&type=chunk) [Controls and Procedures](index=65&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures and concluded they were effective as of June 30, 2025. There were no material changes to the company's internal control over financial reporting during the quarter - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of the end of the period covered by this report (June 30, 2025)[304](index=304&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[305](index=305&type=chunk) [PART II - OTHER INFORMATION](index=66&type=section&id=PART%20II%20-%20OTHER%20INFORMATION) [Legal Proceedings](index=66&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently involved in any legal proceedings that are expected to have a material adverse effect on its business, financial condition, or operating results - The company states it is not currently involved in any legal proceeding or investigation that it believes will have a material adverse effect on its business[308](index=308&type=chunk) [Risk Factors](index=66&type=section&id=Item%201A.%20Risk%20Factors) There have been no material changes to the risk factors previously disclosed in the company's Annual Report on Form 10-K for the year ended December 31, 2024, and the Quarterly Report on Form 10-Q for the period ended March 31, 2025 - No material changes to the Risk Factors have occurred since those disclosed in the 2024 Form 10-K and the Q1 2025 Form 10-Q[310](index=310&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=67&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) None - There were no unregistered sales of equity securities during the period[312](index=312&type=chunk) [Other Information](index=67&type=section&id=Item%205.%20Other%20Information) On August 11, 2025, the company's Compensation Committee approved an Amended and Restated Non-Employee Director Compensation Policy, which increased the quarterly cash retainer to $12,500 and the annual value of restricted stock units to $100,000 - The company amended its Non-Employee Director Compensation Policy to increase the quarterly cash retainer to **$12,500** and the annual RSU value to **$100,000**[315](index=315&type=chunk) [Exhibits](index=67&type=section&id=Item%206.%20Exhibits) The report lists several exhibits filed, including a Certificate of Amendment, Form of Pre-Funded Warrant, an employment agreement, an amendment to the 2021 Incentive Stock Plan, a letter agreement, the amended director compensation policy, and various officer certifications and XBRL data files