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

Financial Performance & Outlook - Ondas reported revenue of $63 million in Q2 2025, a 555% increase compared to $957851 in Q2 2024[19,35] - The company is targeting at least $25 million in revenue for the full year 2025[19] - Ondas' consolidated backlog has grown to $22 million, up from $10 million at the end of Q4 2024[22] - The company's cash balance as of Q2 2025 was $686 million[22,37] - Adjusted EBITDA improved by $905k year-over-year[36] Ondas Autonomous Systems (OAS) - OAS generated $61 million in revenues for Q2 2025 and captured $233 million in orders year-to-date[58] - OAS secured $38 million in orders for the Optimus Drone Network in the UAE[58] - OAS secured $143 million Optimus System order from a major defense customer[58] Ondas Networks & dot16 Technology - IEEE 80216t (dot16) wireless standard was ratified, with Ondas leading the development[19,46] - dot16 was selected as the NGHE communications platform by the AAR[19] - The company is launching a field trial in Q3 2025 to demonstrate converting a 160 MHz network to dot16[51]

Industry Overview - The drone technology sector is experiencing significant advancements due to autonomous technology and AI-powered navigation, making modern drones faster and more versatile [2] - The global drone tech market is projected to grow at a CAGR of 14.3% from 2025 to 2030, while the commercial drone market is expected to grow at a CAGR of 20.8% from 2025 to 2032 [4] Commercial Applications - Drones are being utilized across various sectors, including aerial photography, agricultural mapping, military surveillance, and last-mile delivery, with companies like Walmart and Amazon leading in logistics [3] - Amazon's drone delivery service can deliver packages weighing up to five pounds in less than an hour during daylight, emphasizing its electric and emission-free fleet [3] Key Companies - Draganfly Inc. is a Canadian drone solutions developer with products aimed at military and public safety markets, including the Apex drone, which features dual payload capabilities and AI computing [6][7] - Unusual Machines focuses on manufacturing small drones and essential components, having acquired Fat Shark and Rotor Riot businesses in 2024 [9] - Ondas Holdings designs and markets commercial drone solutions for critical applications, recently securing a $14.3 million order for its Optimus Systems [12][13] Regulatory Environment - The Drones for America Act aims to phase out drones with Chinese components by 2028, benefiting U.S.-based companies and reshaping the industry in favor of domestic producers [10] Financial Highlights - Unusual Machines closed a $40 million equity financing, enhancing its cash position to over $40 million with zero debt, and plans to invest in a drone motor factory in Orlando [11] - Ondas Holdings expects revenues of at least $25 million for the full year, with a significant portion coming from its Ondas Autonomous Systems business unit [13][14]

Financial Highlights - Ondas expects to report approximately $6 million in revenue for Q2 2025, a 6-fold increase compared to Q2 2024[29] - The company estimates its backlog at $22.8 million, adjusted for the expected Q2 2025 revenue[29] - Ondas anticipates total revenue of $25 million for Ondas Holdings in 2025, with at least $20 million expected from OAS[29] - Convertible notes outstanding were reduced to $5.4 million at the end of Q2 2025[29] - The company's cash position is fortified with over $67 million as of Q2 2025[29] Market and Growth Strategy - NATO's commitment to increase defense spending to 5% of GDP by 2035 represents a significant shift, potentially leading to $1.2 trillion in annual defense outlays[40, 41] - The FY2025 bill allocates approximately $21.2 billion to programs relevant to Ondas' capabilities and services for governmental defense and security applications in the U.S[44] - The Optimus drone-in-a-box market is projected to reach $1.5 billion in 2025[118] - The counter-drone market, relevant to Iron Drone Raider, is projected to reach $3 billion in 2025[121] Future Outlook - OAS targets revenue of $40 million in 2026[176] - OAS aims to achieve positive EBITDA in the second half of 2026[174, 180] - OAS projects revenue between $140 million and $150 million and EBITDA between $40 million and $45 million by 2030[180]

Summary of Ondus Autonomous Systems (OAS) Investor Day Conference Company Overview - **Company**: Ondus Holdings, specifically its subsidiary Ondus Autonomous Systems (OAS) - **Headquarters**: Baltimore, Maryland, and Petit Tikva, Israel, with commercial locations in Dubai and Singapore - **Employee Count**: 117 employees - **Investment**: Over $165 million invested in advanced autonomous drone platforms serving military, homeland security, public safety, and critical infrastructure customers [8][10] Core Technologies and Solutions - **Flagship Platforms**: - **IronDrone Raider**: A counter UAS system designed for securing critical locations against intruder drones - **Optimus System**: Provides autonomous aerial security inspection and emergency response [9][10] - **Operational Capabilities**: Both platforms are fully autonomous, military-grade, and designed for 24/7 deployment in complex environments [16][41] Financial Performance - **Revenue Projections**: Expected to report $6 million in revenue for Q2 2025, a more than six-fold increase from the previous year [14] - **Backlog Growth**: Increased from approximately $10 million at the end of 2024 to an estimated $22.8 million [15] - **Liquidity Position**: Over $67 million in cash as of the end of Q2 2025, indicating a strong financial foundation for growth [16] Market Dynamics - **Defense Spending Growth**: Non-U.S. NATO members committed to increasing defense spending to 5% of GDP by 2035, potentially growing annual defense spending from $440 billion to over $1.2 trillion [25] - **Demand for Autonomous Systems**: Accelerating procurement cycles and expanding budgets for AI-enabled defense and security technologies [13][26] Strategic Initiatives - **M&A Program**: Targeting high-quality, synergistic businesses to deepen technology portfolio and expand market presence [20] - **Go-to-Market Strategy**: Focused on high-value sectors like defense, homeland security, public safety, and critical infrastructure [21][84] Technology and Innovation - **Full Stack Physical AI**: Integrates hardware and software for autonomous decision-making and mission execution [30][39] - **Kestrel System**: An integrated airspace awareness platform enabling safe drone operations without visual observers [73] Market Opportunities - **Total Addressable Market (TAM)**: - **Optimus**: Projected growth from $1.5 billion in 2025 to over $3.5 billion by 2030 [89] - **IronDrone Raider**: Expected to grow from approximately $3 billion today to over $10 billion by 2030 [90] - **Serviceable Available Market (SAM)**: Estimated at $2.1 billion for IronDrone in military and security use cases, and $3.2 billion for Optimus [95][97] Conclusion - **Positioning**: Ondus Autonomous Systems is strategically positioned to capitalize on significant macroeconomic and policy tailwinds, with a strong focus on scalability and operational efficiency in the defense and security sectors [20][26][86]

[Announcement of Investor Day and Preliminary Q2 2025 Financial Results](index=2&type=section&id=Item%202.02.%20Results%20of%20Operations%20and%20Financial%20Condition) Ondas Holdings Inc. announced a virtual Investor Day and preliminary unaudited Q2 2025 financial results - The company announced a virtual Investor Day to be held on July 9, 2025, at 1:00 p.m. Eastern Time[5](index=5&type=chunk) - Simultaneously, the company reported preliminary select financial results for the quarter ended June 30, 2025, via a press release (Exhibit 99.1)[5](index=5&type=chunk) - The financial information provided is explicitly stated as unaudited, preliminary, and not fully representative of the company's financial condition or operational results for Q2 2025[6](index=6&type=chunk) - The information furnished under Item 2.02, including the press release, is not considered "filed" for the purposes of Section 18 of the Exchange Act[7](index=7&type=chunk) [Forward-Looking Statements](index=2&type=section&id=Forward-Looking%20Statements) The report includes forward-looking statements, subject to risks and uncertainties, with no commitment to future updates - Statements in the report that are not historical facts are defined as "forward-looking statements" under the Private Securities Litigation Reform Act of 1995[8](index=8&type=chunk) - The company cautions that actual results may differ materially from those expressed in forward-looking statements due to various risk factors detailed in its Form 10-K and 10-Q filings[8](index=8&type=chunk) [Financial Statements and Exhibits](index=2&type=section&id=Item%209.01.%20Financial%20Statements%20and%20Exhibits) This section lists exhibits filed with the Form 8-K, including the press release with preliminary financial results Exhibits | Exhibit No. | Description | | :--- | :--- | | 99.1 | Press Release, dated July 9, 2025 | | 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

Ondas Autonomous Systems (OAS) - OAS is positioned to achieve at least $20 million in expected revenues for 2025, entering the year with a $10 million backlog[22] - The company anticipates generating $25 million in revenue in 2025[23] - The combined Total Addressable Market (TAM) for Iron Drone Raider and Optimus System is estimated at $53 billion and $22 billion, respectively[27] - Initial Obtainable Market (SOM) through 2026 for Iron Drone is $70 million and for Optimus is $50 million[31] - Secured ~$144 million in purchase orders in Q3 2024[32] Ondas Networks - The total addressable market for private wireless Rail networks in North America is in excess of $13 billion[78] - Railroads could potentially drive ~$5 billion of additional revenue with a ~5% productivity increase[75] Financial Performance (Q1 2025) - Net revenues increased to $4248182, a 580% increase compared to $625009 in the same period last year[103, 104] - The company has a cash balance of $254 million, compared to $146 million a year ago[105, 106] - Holdings Convertible Debt reduced by $192 million to $254 million at the end of Q1 2025[108]

Industry Overview - The Zacks Communication-Network Software industry includes companies providing software solutions for cloud, on-premise, and hybrid environments, as well as communication technology solutions like broadband and VoIP [2] - The industry supports the deployment of 5G and 6G networks and offers solutions for various sectors including telecommunications, technology, and government [2] Current Trends - There is an increased adoption of cloud-based solutions driven by digitalization, leading to higher demand for cloud applications and security solutions [3] - Automation tools are becoming essential as enterprises transition to the cloud, improving performance monitoring and reducing costs [4] - The rapid evolution of 5G and 6G networks is creating growth opportunities due to rising demand for data-intensive applications and reduced latency [5] Performance Metrics - The Zacks Communication-Network Software industry has outperformed the Zacks S&P 500 composite and its sector, appreciating 23% over the past year compared to 10.6% for the Zacks Computer and Technology sector and 11.6% for the S&P 500 [9] - The industry is currently trading at an EV/Sales ratio of 2.68X, lower than the S&P 500's 5.19X and the sector's 7.08X, indicating potential valuation opportunities [12] Notable Companies - A10 Networks (Zacks Rank 2) is a leading provider of security and infrastructure solutions, benefiting from strong demand in AI-related data centers and expected to see significant security revenue growth by 2025 [16][17] - Ondas (Zacks Rank 3) provides private wireless and drone solutions, with a strong order backlog of $16.8 million and projected revenues of at least $25 million for 2025 [19][20]

Core Viewpoint - Ondas Holdings Inc. is conducting its Q1 2025 earnings conference call, indicating a focus on financial performance and strategic direction for the upcoming quarter [1]. Company Participants - The call features key executives including Eric Brock (Chairman, President, and CEO), Neil Laird (Interim CFO), Oshri Lugassy (Co-CEO, Autonomous Systems), and Markus Nottelmann (CEO, Ondas Networks) [1]. Conference Call Structure - The conference call is structured to allow participants to listen only, with an emphasis on forward-looking statements that may contain risks and uncertainties [2]. - The company has provided a reconciliation of non-GAAP financial measures to GAAP measures, highlighting the importance of these metrics for understanding business trends [3].