Financial Performance - The revenue for Q3 2024 was approximately $1.5 million, a decrease from $2.7 million in Q3 2023, primarily due to delays in order activity at Ondas Networks[32] - Gross profit for Q3 2024 was approximately $0.05 million, representing a gross margin of about 3%, down from 21% in Q3 2023[33] - Operating expenses increased to approximately $8.7 million in Q3 2024, compared to $6.5 million in Q3 2023[34] - Net loss for Q3 2024 was approximately $9.5 million, compared to a net loss of $7.3 million in Q3 2023[37] - Revenues for September 2024 were $1,480,792, a decrease of 44.7% compared to $2,665,190 in September 2023[61] - Gross profit for September 2024 was $47,560, down from $554,878 in the same period last year, indicating a significant decline[61] - Total operating expenses increased to $8,708,275 in September 2024, up 34.0% from $6,488,899 in September 2023[61] - Net loss attributable to common stockholders for September 2024 was $(10,671,912), compared to $(7,914,991) in September 2023, reflecting a 34.9% increase in losses[61] - Adjusted EBITDA for the three months ended September 2024 was $(7,103,109), compared to $(6,900,099) in the same period last year, indicating a worsening operational performance[66] - Cash operating expenses for September 2024 were $7,150,669, a decrease of 4.1% from $7,454,977 in September 2023[67] - The total stockholders' equity decreased to $14,918,792 as of September 2024, down from $33,135,127 in September 2023[61] Orders and Bookings - Ondas Holdings reported $14.4 million in purchase orders during Q3 2024, marking the largest bookings in the company's history[1] - Ondas Networks secured a $3.0 million order from Metra for a system-wide upgrade of the 900 MHz wireless network[6] - Airobotics received $9 million in purchase orders for the Iron Drone Raider system from a major military customer during Q3 2024[21] - Airobotics also secured a $5.4 million purchase order for the Optimus System to protect military bases and borders[23] Capital and Cash Flow - The company raised $10.5 million in capital during Q3 and Q4-to-date, indicating continued investor support[5] - As of September 30, 2024, the Company held cash and restricted cash of approximately $2.9 million, a decrease from approximately $15.0 million as of December 31, 2023[38] - The Company raised an additional $3.55 million in capital after September 30, 2024, including $3.5 million via a convertible note[40] - Cash flows used in operating activities for the nine months ended September 2024 were $(25,360,649), a slight improvement from $(28,108,744) in the same period last year[63] - Net cash flows provided by financing activities were $14,871,301 for the nine months ended September 2024, compared to $18,700,603 in the previous year[63] Future Outlook - Ondas expects a strong end to 2024 and significant growth in 2025, driven by a strengthening order book and customer pipeline[5] - The Company expects a recovery in revenue growth in Q4 2024, primarily driven by the OAS business unit fulfilling backlog, including military orders secured in Q3[41] - Revenue expectations for Ondas Networks in Q4 2024 are modest, limited to funded development programs, with growth anticipated in 2025[41] - Bookings and revenue growth are expected to fluctuate due to uncertainties around customer activity and the timing of deliveries of the Optimus and Iron Drone systems[42] Assets and Liabilities - Total current assets decreased from approximately $23.6 million as of December 31, 2023, to approximately $17.2 million as of September 30, 2024[58] - Total liabilities remained relatively stable at approximately $47.1 million as of December 31, 2023, compared to approximately $47.1 million as of September 30, 2024[59] Compliance and Operations - The Company has requested an additional 180-day compliance period from Nasdaq to regain compliance with the minimum bid price requirement of $1.00 per share[43] - The Company operates through subsidiaries that provide private wireless data solutions and commercial drone solutions, targeting various critical markets[45] - The Company’s Adjusted EBITDA and cash operating expenses are used to facilitate analysis of ongoing business operations, excluding non-core items[52]

Financial Data and Key Metrics Changes - In Q2 2024, revenues were approximately $1 million, down from approximately $5.5 million in Q2 2023, primarily due to extended timelines in the 900 megahertz activities and supply chain disruptions related to the Gaza war [18] - Gross profit was negative $190,000 for Q2 2024 compared to $3.1 million for Q2 2023, with a gross margin of negative 20% versus 56% in the prior year [18] - Operating expenses decreased to $8.1 million in Q2 2024 from $11.6 million in Q2 2023, reflecting strict cash expenditure controls and reduced R&D activity [19] - The operating loss narrowed to $8.3 million in Q2 2024 from $8.5 million in Q2 2023, while adjusted EBITDA loss was $6.7 million compared to $5.6 million in Q2 2023 [19] Business Line Data and Key Metrics Changes - Ondas Networks achieved important milestones, including live operations of Airlink wireless networks at 900 megahertz for two customers and a successful field trial with a third customer [7][8] - Ondas Autonomous Systems (OAS) saw significant demand for unmanned systems, particularly in defense and security markets, with the Iron Drone Raider securing initial orders from military customers [10][30] Market Data and Key Metrics Changes - The demand environment for aerial security platforms is strengthening, with expectations of a durable upcycle supporting long-term business plans [14] - American Robotics secured a fixed-price contract with the U.S. Coast Guard for emissions monitoring at the Port of Long Beach, marking a significant operational milestone [15][37] Company Strategy and Development Direction - The company is focused on expanding its presence in the defense sector, with the Iron Drone Raider positioned as a leading solution in the counter-drone market [12][13] - The strategy includes increasing production capacity and expanding marketing efforts to other defense and security customers globally [11] - The company aims to capitalize on the growing demand for drone technology in both commercial and government markets, particularly in the U.S. [41][42] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a disappointing start to 2024 from a revenue perspective but emphasized the importance of technical and operational milestones achieved [6] - The company expects a material recovery in revenue in the second half of 2024, driven by demand for the Optimus and Iron Drone platforms [41] - Management highlighted the supportive role of government initiatives in building the industrial drone manufacturing base, which is expected to amplify private sector investment [54] Other Important Information - The company ended Q2 2024 with $5 million in cash, down from $15 million at the end of 2023, and plans to improve cash utilization significantly in the second half of 2024 [20][21] - A planned Investor Day in September will focus on Ondas' Autonomous Systems, providing system demonstrations and an overview of the business plan [44] Q&A Session Summary Question: Can you provide insight into the scope of the Networks business and the migration plans? - The company is working on area-wide networks with three customers, focusing on smaller deployments while planning broader deployment strategies [46][47] Question: What is the potential for further deployments in the UAE? - The UAE government customer plans to deploy 22 systems by the end of 2025, with expectations for significant orders in the second half of 2024 [51] Question: How is the U.S. government supporting the drone manufacturing base? - There is major support from federal and state levels, recognizing the value of drones for security and inspection, which is encouraging private sector investment [54] Question: What is the status of bandwidth allocation in the EU for rail? - The opportunity in the EU is similar to the U.S., with private networks needed for mission-critical activities, though deployment is handled on an individual country basis [55][56] Question: Will more Iron Drone sales go directly to defense customers? - Direct sales to defense customers are expected to increase, allowing for better integration of technology and setting favorable economics for the system [61][62]

Company Performance - Ondas Holdings Inc. reported a quarterly loss of $0.14 per share, better than the Zacks Consensus Estimate of a loss of $0.17, and an improvement from a loss of $0.18 per share a year ago, resulting in an earnings surprise of 17.65% [1] - The company posted revenues of $0.96 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 13.37%, but down from $5.47 million in the same quarter last year [2] - Over the last four quarters, Ondas has exceeded consensus EPS estimates two times and topped consensus revenue estimates two times [2] Stock Performance - Ondas shares have declined approximately 54.8% since the beginning of the year, contrasting with the S&P 500's gain of 13.9% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.14 on revenues of $4.44 million, and for the current fiscal year, it is -$0.50 on revenues of $19.64 million [7] Industry Outlook - The Communication - Network Software industry, to which Ondas belongs, is currently ranked in the bottom 16% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Ondas' stock performance [5]

Financial Performance - Ondas generated approximately $1.0 million in revenue for Q2 2024, a decrease from $5.5 million in Q2 2023, primarily due to delays in order activity and slow commercial activity related to the Gaza conflict[19]. - Gross profit for Q2 2024 was approximately ($0.2) million, with a gross margin of approximately (20%), compared to a gross profit of $3.1 million and a margin of 56% in Q2 2023[20]. - Revenues for the three months ended June 30, 2024, were $957,851, a decrease of 83.9% compared to $5,468,964 for the same period in 2023[39]. - Gross profit for the three months ended June 30, 2024, was $(190,895), compared to a gross profit of $3,071,776 for the same period in 2023[39]. - Net loss narrowed to approximately $8.3 million for Q2 2024, compared to a net loss of $9.0 million for Q2 2023[21]. - Net loss attributable to common stockholders for the three months ended June 30, 2024, was $(9,378,230), compared to $(8,958,086) for the same period in 2023[39]. - Adjusted EBITDA for the three months ended June 30, 2024, was $(6,730,982), compared to $(5,636,760) for the same period in 2023[44]. Operational Highlights - Ondas secured initial purchase orders for the Iron Drone Raider from a major military customer, indicating an expansion of their engagement in counter-drone technology[2]. - The distribution partner of Ondas Networks received an initial commercial order for Airlink systems for deployment in the 900 MHz network, marking a significant milestone[3]. - Ondas Autonomous Systems generated approximately $300,000 in revenue during Q2 2024, with a key purchase order for the Iron Drone Raider from a global defense company[13]. - The company is establishing supply chain and production capabilities to meet expected demand for the Iron Drone Raider, which is emerging as a leading counter-drone solution[4]. - A $2.8 million agreement for the development of a 220 MHz Positive Train Control data radio program is expected to be completed by Q1 2025, with commercial deliveries slated for Q2 2025[8]. - The successful integration of Airlink systems into legacy 900 MHz networks has led to operational networks for both a Class I freight rail operator and a transit customer[7]. Future Outlook - Ondas anticipates significant revenue recovery in the second half of 2024, driven by a growing customer pipeline for both the Optimus and Iron Drone Raider systems[6]. - The company expects revenue growth recovery in the second half of 2024, primarily driven by the OAS business unit, with modest revenue expectations for Ondas Networks[23]. - Bookings and revenue growth are anticipated to fluctuate quarter-to-quarter due to uncertainties around customer activity and deployment plans for the 900 MHz rail network[23]. - Ondas is experiencing high engagement from potential customers and partners, indicating optimism for future revenue growth despite current low revenues[18]. - Ondas plans to host an "Investor Day" in September 2024 to provide system demonstrations and a detailed overview of the OAS business plan[25]. Financial Position - Cash and restricted cash decreased to approximately $5.0 million as of June 30, 2024, down from approximately $15.0 million as of December 31, 2023, due to $16.3 million used for operations[22]. - The total current assets decreased to approximately $15.1 million as of June 30, 2024, from $23.6 million as of December 31, 2023[34]. - Total assets decreased to approximately $82.5 million as of June 30, 2024, down from $92.2 million as of December 31, 2023[37]. - Total stockholders' equity decreased to approximately $19.4 million as of June 30, 2024, compared to $33.1 million as of December 31, 2023[38]. - Operating expenses decreased to approximately $8.1 million for Q2 2024, down from approximately $11.6 million in Q2 2023, reflecting cost savings from operational consolidation[21]. - The company reported an operating loss of approximately $8.3 million for Q2 2024, slightly improved from an operating loss of $8.5 million in Q2 2023, primarily due to lower operating expenses[21]. - Net cash flows used in operating activities for the six months ended June 30, 2024, were $(16,274,722), an improvement from $(21,864,777) in the same period of 2023[41]. - Cash, cash equivalents, and restricted cash at the end of the period on June 30, 2024, were $4,975,374, compared to $3,104,716 at the end of the same period in 2023[41]. - The company reported a decrease in cash flows from investing activities of $(2,314,873) for the six months ended June 30, 2024, compared to a positive cash flow of $695,484 in the same period of 2023[41]. - The company raised $4,375,035 from the sale of noncontrolling interest in Ondas Networks during the six months ended June 30, 2024[41]. - The weighted average number of common shares outstanding for the three months ended June 30, 2024, was 66,377,505, an increase from 51,112,218 in the same period of 2023[39].

Low-priced high-potential stocks are incredibly risky and yet people continue to buy them. Why? Really, it comes down to their tremendous upside potential. In sports gambling terms, these ideas are the equivalent of plus-money bets or plus odds. These wagers are associated with underdogs. The opposite situation is minus-money bets. They're tied to favorites or to use equity market terms, blue-chip stocks. These ideas will win more but they'll be less profitable. Of course, plus-money bets attract the spotli ...

Ondas Holdings (NASDAQ:ONDS) just reported results for the first quarter of 2024. Ondas Holdings reported earnings per share of -17 cents. This met the analyst estimate for EPS of -17 cents. The company reported revenue of $625,009. InvestorPlace Earnings is a project that leverages data from TradeSmith to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These arti ...

Ondas Holdings Inc. (ONDS) came out with a quarterly loss of $0.17 per share versus the Zacks Consensus Estimate of a loss of $0.16. This compares to loss of $0.30 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -6.25%. A quarter ago, it was expected that this company would post a loss of $0.16 per share when it actually produced a loss of $0.26, delivering a surprise of -62.50%. Over the last four quarters, the company has s ...

Nasdaq: ONDS This presentation may contain "forward-looking statements" as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as "expects," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Ondas Holdings Inc. ("Ondas" or the "Company") cautions readers that forward-looking statements are predictions based on its current expectations about future ev ...

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from________ to ___________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or Commission File Number: 001-39761 ONDAS HOLDINGS INC. (Exact name of registrant as specified in its charter) (State or other jurisdicti ...

Exhibit 99.1 Ondas Holdings Reports First Quarter 2024 Financial Results Ondas Networks entered into $2.8 million agreement with industry partner to provide on-locomotive radio upgrade in the 220 MHz frequency band to support Positive Train Control (PTC) safety applications for key Northeast Corridor passenger railroad Ondas Networks achieved successful systems integration milestones in 900 MHz with both a large Class I railroad customer and a regional commuter railroad; Initial system-wide order received b ...