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Ondas Inc. develops autonomous systems, robotics and mission-critical connectivity solutions for defense, security and industrial markets. Its operating focus spans Ondas Autonomous Systems, Ondas Networks and Ondas Capital, with products and services tied to aerial and ground-based intelligence, sensing, mobility and communications in complex operating environments.
Recurring Ondas news covers defense and public-safety orders, counter-drone deployments, robotic demining programs, heavy engineering equipment, European joint-venture activity, acquisition integration and quarterly financial reporting. Company updates also reference the FullMAX software-defined broadband platform for industrial IoT networks, Sentrycs cyber-over-RF counter-drone technology, 4M Defense demining systems, INDO Earth Moving equipment programs and the completed Mistral merger, which added U.S.-based manufacturing, integration and federal contracting infrastructure.
Ondas Holdings (NASDAQ: ONDS) reported its Q1 2024 financial results. The company achieved revenues of $0.6 million, a significant decrease from $2.6 million in Q1 2023, due to 900 MHz activity delays and supply chain issues linked to the Gaza conflict. Gross profit turned negative at ($0.4) million versus $1.0 million in Q1 2023. Operating expenses reduced to $8.7 million, leading to a narrower operating loss of $9.1 million, down from $12.7 million in the prior year. Net loss also narrowed to $9.9 million from $14.5 million.
Ondas Networks secured a $2.8 million agreement for 220 MHz on-locomotive radios and achieved milestones in its 900 MHz integration. Ondas Autonomous Systems received initial orders for its Iron-Drone Raider and expanded in the US and Middle East markets. The company expects significant revenue growth in H2 2024, driven by the 900 MHz network integration and improved Optimus System inventory availability.
Ondas Holdings Inc. (Nasdaq:ONDS) will report its first quarter 2024 financial results on Wednesday, May 15, 2024, at 8:30 a.m. ET. The conference call will discuss the results with a Q&A session. Ondas is a leading provider of private industrial wireless networks and commercial drone solutions.
Ondas Holdings' Airobotics and HHLA Sky have partnered to offer advanced drone services for terminal operations and critical infrastructure in Germany. The collaboration combines Airobotics' autonomous drone technologies with HHLA Sky's integrated control center and business footprint in the region, aiming to revolutionize monitoring, maintenance, and protection of critical facilities.
Ondas Holdings Inc. (NASDAQ: ONDS) announced a reseller partnership with C-Astral Aerospace , expanding Airobotics' market reach into Europe, specifically targeting southeast European countries. Airobotics' Optimus Systems will be marketed by C-Astral to provide commercial drone solutions to customers in Europe. C-Astral's diverse customer base includes commercial UAS operators, government entities, and scientific users across over 70 countries. Airobotics' Optimus System, already deployed in the UAE and Israel, offers autonomous drones capable of various missions without on-the-ground human intervention.
Ondas Holdings Inc. (NASDAQ: ONDS) secured an initial purchase order for its Iron-Drone Raider counter-drone system from a major defense company in Israel. The system utilizes AI technology to neutralize hostile drones, with additional orders expected. The platform was enhanced to meet military requirements, offering a cost-effective solution to protect borders and critical infrastructure assets worldwide.
Ondas Holdings Inc. (NASDAQ: ONDS) subsidiary, Airobotics, secures a service agreement for additional Optimus Drone Systems from a local government entity in Dubai, UAE. The Optimus System fleet has been extensively utilized, with potential growth to over 20 systems in Dubai alone. The agreement covers ongoing maintenance and support services.
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