Ondas Holdings, Inc. OAS Investor Day Summary Company Overview - **Company Name**: Ondas Holdings, Inc. (renamed from Ondas Holdings) - **Core Mission**: Integrated autonomy delivering defense, security, and intelligence outcomes through operational systems designed for complex environments [4][6] Key Industry Insights - **Market Focus**: Defense, security, and intelligence are interconnected mission domains, with customers seeking integrated systems rather than individual products [4][5] - **Market Opportunity**: The total addressable market (TAM) for Ondas' core segments (Counter-UAS, UAS, UGV) is approximately **$117 billion** from 2025 to 2030, with significant growth driven by defense and security priorities globally [26][27] Financial Performance - **Q4 2025 Revenue Expectation**: Projected between **$27-$29 million**, representing a **51% increase** from earlier targets and a near six-fold increase from Q4 2024 [13] - **Full Year 2025 Revenue Expectation**: Anticipated between **$47.6-$49.6 million**, a **23% increase** from prior targets and also a near six-fold increase from fiscal 2024 [14] - **Backlog**: Estimated backlog of over **$65 million**, nearly triple the level at the end of Q3 2025, indicating strong demand and customer engagement [15] - **Liquidity Position**: Pro forma cash at year-end was over **$1.5 billion**, bolstered by a recent **$1 billion equity offering**, providing a strong foundation for growth [15][18] Strategic Growth Initiatives - **Growth Strategy**: Focus on disciplined investment and acquisition to enhance platform depth and scale, with a target revenue of **$170-$180 million** for 2026, reflecting a **3.5 times increase** from 2025 [16][17] - **Investment in Technology**: Emphasis on building a robust operating platform to support scaled deployments and multi-domain operations [16][19] - **Acquisition Strategy**: A robust pipeline for strategic investments aimed at expanding capabilities and enhancing the overall platform [17][23] Product and Technology Development - **Integrated Systems Approach**: Ondas is integrating multi-domain technologies into a scalable system-of-systems architecture, enhancing mission effectiveness and driving recurring growth [24][25] - **Counter-UAS Capabilities**: Development of a complete counter-drone architecture that includes detection, identification, tracking, and mitigation, designed for continuous operations in complex environments [31][34] - **UAS Portfolio**: Focus on flexibility and resilience, with platforms supporting ISR, assault, and other mission profiles, including the Optimus system for persistent availability [35][36] - **UGV Portfolio**: A broad range of unmanned ground vehicles designed for tactical, frontline, and infrastructure-level operations, addressing urgent needs in combat and public safety [38][39] Market Demand and Customer Engagement - **Active Programs**: Engagement in high-priority programs across defense, homeland security, and critical infrastructure, particularly in counter-UAS and autonomous UAS initiatives [62] - **Customer Relationships**: Strengthened relationships with long-cycle markets and significant growth in backlog and customer pipeline, providing visibility on future growth [14][15] Conclusion - **Positioning for Growth**: Ondas is positioned as a high-growth leader in the unmanned and autonomous systems market, with a strong balance sheet and a clear strategy to leverage market opportunities in defense and security [12][12][17]

Financial Performance & Outlook - Ondas' Q4 2025 revenue is estimated between $27 million and $29 million, a 51% upside compared to the prior target of $18.5 million[21] - The company's FY 2025 revenue is projected between $47.6 million and $49.6 million, a 23% increase from the previous target of $39.5 million[21] - Backlog reached $65.3 million by Q4 2025, a 180% increase from $23.3 million on November 13, 2025[25] - Ondas anticipates revenue between $170 million and $180 million in 2026, compared to a prior target of $140 million[27] Strategic Growth & Capital Allocation - Ondas has a pro forma cash balance exceeding $1.5 billion as of Q4 2025, adjusted for a $1 billion equity offering[25] - The company intends to use its capital to accelerate team growth, supply chain improvements, customer delivery, strategic programs, and overall ecosystem scaling[29] - Ondas Capital plans to deploy $150 million to accelerate the transition of unmanned and dual-use technologies into U S and European production[168] Market & Technology - The company estimates a global Total Addressable Market (TAM) of approximately $117 billion and a Serviceable Available Market (SAM) of around $7.5 billion for C-UAS, UAS, and UGV markets[47] - Ondas is involved in a $1 Billion DoW program to rapidly field small attack UAS at industrial scale[135, 140] - The company aims to create a unified "Systems of Systems" architecture integrating ISR, counter-UAS, robotics, and sensing into scalable, autonomous defense solutions[35]