Financial Performance & Outlook - Ondas reported a significant revenue increase of 580% for Q1 2025, reaching $4,248,182 compared to $625,009 in Q1 2024[17, 18] - The company is targeting at least $25 million in revenue for the full year 2025[14] - Cash and restricted cash stood at $25.4 million at the end of Q1 2025, compared to $14.6 million a year ago[19, 20] - Convertible debt was reduced by $19.2 million to $25.4 million at the end of Q1 2025[22] Ondas Autonomous Systems (OAS) - OAS secured $9.3 million in new orders year-to-date, increasing the backlog to $16.8 million[14] - OAS generated $4.0 million in revenues for Q1 2025[38] - The company estimates a combined Total Addressable Market (TAM) of $5.3 billion for Iron Drone Raider and Optimus System in Defense & HLS markets[40] Ondas Networks - dot16 was selected as the communications protocol for future Next Generation Head-of-Train / End-of-Train (NGHE) devices[14, 28] - Ondas Networks is supporting 900 MHz system deployments, including a follow-on order from Metra[34] - The company expects delivery of PTC data radios for Amtrak in early Q3 2025[34]