Ondas Holdings Inc. - ONDS STOCK NEWS

Ondas Holdings (NASDAQ:ONDS) has received a new purchase order for its Iron Drone Raider counter-drone system from an Israeli defense company. The order is part of an integration process aimed at expanding distribution to military and homeland security users. During Q3 2024, Ondas Autonomous Systems secured defense market orders totaling $14.4 million, including $9.0 million in orders from a major government military customer for the Iron Drone Raider system. The system, commercially launched last year, has been enhanced to meet military requirements and is being deployed to protect critical infrastructure from hostile drones.

Ondas Holdings (NASDAQ:ONDS) has received a 180-day extension from Nasdaq to regain compliance with the minimum bid price requirement of $1.00. The extension was granted as the company meets all other continued listing requirements for the Nasdaq Capital Market, except for the bid price requirement. Compliance can be achieved if the stock price closes at or above $1.00 for a minimum of 10 consecutive business days during the extension period.

Ondas Holdings reported Q3 2024 financial results, marking its largest bookings quarter with $14.4 million in purchase orders from a major military customer for Iron Drone Raider and Optimus System platforms. Revenue was $1.5 million, down from $2.7 million in Q3 2023. The company secured a significant order from Metra, Chicago's commuter rail system, for a 900 MHz network upgrade through partner Siemens. Operating loss increased to $8.7 million from $5.9 million year-over-year. The company held $2.9 million in cash as of September 30, 2024, and raised an additional $3.55 million post-quarter.

Ondas Holdings announced that its subsidiary Airobotics has received a NIS 3.8 million (approximately $1 million) grant from the Israel Innovation Authority to enhance its Iron Drone Raider counter-drone system. The system, acquired in early 2023 through Iron Drone's assets, combines AI-driven detection and interception capabilities to counter unauthorized drones. The Iron Drone Raider integrates with existing detection systems and uses a specialized interception drone and docking station to manage multiple drone threats autonomously. The funding will support the development of new features to address growing security challenges against critical infrastructure, public spaces, and high-profile events.

Ondas Holdings (NASDAQ:ONDS), a provider of private industrial wireless networks and commercial drone and automated data solutions, has scheduled its Third Quarter 2024 financial results conference call for Tuesday, November 12, 2024, at 8:30 a.m. ET. The financial results will be released via press release before the conference call. The company will host a conference call with a Q&A session, offering both toll-free (844-883-3907) and international (412-317-5798) dial-in options. Listeners can pre-register for immediate access, and a replay will be available on the company's investor relations website.

Ondas Holdings Inc. (NASDAQ:ONDS) announced that its subsidiary, Ondas Autonomous Systems Inc. (OAS), has secured a $3.5 million investment in convertible notes. The investment, led by Ondas Chairman and CEO Eric Brock and Board Member Joe Popolo, aims to support OAS' growth in providing unmanned aerial security and intelligence to defense, security, and critical infrastructure markets.

The investment comes from Charles & Potomac Capital, and Privet Ventures , with Eric Brock personally investing $1.0 million through Privet Ventures. The convertible notes mature on September 30, 2025, and are convertible into OAS securities, not Ondas Holdings securities. This funding follows OAS' recent success in securing $14.4 million in orders in Q3 2024 for its Iron Drone Raider and Optimus System.

Ondas Holdings Inc. (NASDAQ:ONDS) has announced that Markus Nottelmann has joined the company as a Senior Advisor, focusing on commercial development and strategic activity for Ondas Networks Inc. Mr. Nottelmann will also serve as a board member for Ondas Networks. With extensive experience in introducing new technology into railroad markets and a background as a strategic financial and operating executive, Nottelmann is expected to accelerate Ondas Networks' commercial activities with railroad customers and partners, as well as assist with strategic financial matters.

Eric Brock, CEO of Ondas, expressed excitement about Nottelmann joining at a pivotal time for Ondas Networks, highlighting his experience in global railroad markets and his potential to drive adoption of the FullMAX wireless connectivity platform. Nottelmann's appointment aims to support the advancement of Ondas Networks' business priorities and the scaling of IEEE 802.16 technology for the benefit of the ecosystem and Ondas' investors.

Ondas Holdings Inc. (NASDAQ:ONDS) has announced that its subsidiary, Airobotics , received a $5.4 million order for multiple Optimus Systems from a major defense customer. The systems will be used for critical asset protection and border security. This order brings Ondas' total purchase orders for Q3 2024 to $14.4 million, including $9.0 million in orders for the Iron Drone Raider.

The Optimus System is a fully autonomous unmanned aerial surveillance platform capable of persistent remote operations in harsh, complex environments, including those with GPS and wireless connectivity. It has been extensively used by various governmental and commercial customers worldwide, conducting thousands of operational drone flights without human intervention.

This order signifies the further adoption of Ondas' autonomous drone platforms in the global defense sector, with both the Optimus System and Iron Drone Raider being deployed in military security operations.

Ondas Holdings Inc. (NASDAQ:ONDS) has received an $8.0 million purchase order for multiple Iron Drone Raider systems from a major military customer. This marks the largest order ever for the Iron Drone Raider systems and a significant milestone in Ondas Autonomous Systems Inc (OAS) business unit's expansion. The order includes Raider systems, associated elements, infrastructure, and supporting services for aerial protection against hostile drones.

The global market for counter-drone applications is expected to grow from $1.6 billion in 2023 to $14.9 billion by 2032, with a 27.8% CAGR. Ondas believes the Iron Drone Raider system is one of the most innovative technologies in the counter-drone market, featuring autonomous capabilities and cost-effective interception with minimal collateral damage.