Ondas Holdings, Inc. ( (ONDS) ) has released its Q3 earnings. Here is a breakdown of the information Ondas Holdings, Inc. presented to its investors.
Ondas Holdings Inc. is a leading provider of private industrial wireless networks and commercial drone and automated data solutions through its business units, Ondas Networks and Ondas Autonomous Systems. The company operates in the technology sector, specializing in solutions for critical defense, infrastructure, and government applications.
In its third quarter of 2024, Ondas Holdings reported substantial progress, securing $14.4 million in drone platform purchase orders, marking the largest bookings in its history. This achievement includes a significant order from a major military customer for its Iron Drone Raider and Optimus System autonomous drone platforms, highlighting the company’s expansion into military markets.
Key financial metrics for the third quarter show a decrease in revenue to $1.5 million from $2.7 million in the previous year, attributed to delays in order activity at Ondas Networks. The company also reported an operating loss of $8.7 million, reflecting increased operating expenses. Despite these challenges, Ondas secured $3.5 million in capital and continues to strengthen its market presence through strategic partnerships and technological advancements.
Ondas Holdings’ management expresses optimism for the future, anticipating revenue growth recovery in the fourth quarter of 2024, driven by fulfilling backlogged orders, especially within its autonomous systems unit. The company remains confident about its growth prospects in 2025, focusing on expanding deployments and customer engagements across its business units.
