Ondas reports Q1 EPS (15c) vs. (17c) last year

Reports Q1 revenue $4.25M, consensus $4.94M. “Ondas (ONDS) is entering 2025 with strong momentum, led by the outstanding performance of our Ondas Autonomous Systems business unit,” said Eric Brock, Chairman and CEO of Ondas Holdings. “OAS is executing effectively on existing programs while expanding its reach with new defense and homeland security customers in Europe and other regions. We ended Q1 with over $25 million in cash and are actively fulfilling our $10 million backlog from 2024. In addition, we are seeing strong demand growth, with $9.3 million in new OAS orders, and we believe visibility on a robust pipeline that now totals $16.8 million positions us to meet or exceed our $25 million revenue goal for the year. These early results justify our investments in scaling our operating platform and reaffirm our confidence in the long-term growth trajectory of our business outlook. Our team at OAS is advancing key programs in Israel and the UAE with successful deployments of our Iron Drone Raider and Optimus platforms that are now opening new markets in Europe and other regions. These field operations are validating the systems’ effectiveness and demonstrating their combat-readiness in live security environments, while helping establish the Raider as the category leader in low-kinetic counter-UAS solutions. In fact, we recently secured our third Iron Drone customer, a governmental entity that will use the Raider for border security. At the same time, we are investing in global scalability by expanding our production capacity, building regional support capabilities, and reinforcing our supply chain to meet growing customer demand. With both Optimus and Raider gaining traction, OAS is transitioning from early customer adoption to attack the large, rapidly growing global defense and security end markets. At Ondas Networks, we continue to strengthen our position as a key technology provider for next-generation rail communications. The recent selection of our dot16 wireless protocol by the Association of American Railroads for the NGHE system represents a major milestone and validates years of focused development. With dot16 now positioned across 900 MHz, 220 MHz, and 450 MHz networks, we are strategically aligned with the industry’s long-term modernization plans. Our priority now is to convert this market validation into commercial adoption and build a scalable, high-value business serving critical infrastructure operators across North America. Lastly, on behalf of the Board and the entire Ondas team, I want to thank Joe Popolo for his dedicated service and strategic guidance during a pivotal period of growth for our company. Joe brought thoughtful leadership to the boardroom, and we are grateful for his many contributions. We congratulate him on his appointment as U.S. Ambassador to the Kingdom of The Netherlands and wish him great success in this important public service role,” Brock concluded.