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Ondas Holdings Inc. (NASDAQ: ONDS) stands as a leader in providing private industrial wireless networks and commercial drone and automated data solutions. The company operates two primary business segments: Ondas Networks and Ondas Autonomous Systems, each contributing significantly to the company's revenue and market presence.
Ondas Networks focuses on designing, developing, manufacturing, and supporting proprietary, software-based wireless broadband technology. Their flagship product, the FullMAX Software Defined Radio (SDR) platform, is used across various sectors, including railroads, utilities, oil and gas, transportation, and government entities. This technology enables Mission-Critical IoT (MC-IoT) applications by overcoming the bandwidth limitations of legacy private licensed wireless networks. The recent milestones include a $2.8 million agreement to upgrade on-locomotive radios and successful integration milestones in the 900 MHz frequency band with several railroad customers.
Ondas Autonomous Systems encompasses their commercial drone solutions, primarily through their subsidiaries American Robotics, Inc. and Airobotics Ltd.. Their flagship product, the Optimus System™, is the world's first FAA-certified small UAS developed for aerial security and data capture. It operates as a drone-in-a-box turnkey data solution service, focusing on critical industrial and government applications. The Optimus System has seen extensive use in Dubai, demonstrating faster emergency response times and significant interest from cities worldwide. Additionally, the Iron-Drone Raider™ platform, a counter-UAS system, has received initial purchase orders from defense companies, indicating a growing market for autonomous drone solutions.
Recent news highlights include a strategic partnership between American Robotics and ResilienX, Inc. to enhance the safety and reliability of autonomous systems, particularly for beyond visual line-of-sight (BVLOS) applications. Ondas has also achieved record revenues of $15.7 million in 2023, driven by the commercial adoption of the Optimus System and product revenues at Ondas Networks. The company is poised for significant growth in 2024, with ongoing projects and expanding customer bases in the U.S., Europe, and the Middle East.
For more information, visit www.ondas.com or follow Ondas Holdings on X (formerly Twitter) and LinkedIn.
Ondas Holdings Inc. (NASDAQ:ONDS) has received an initial purchase order for several Iron Drone Raider counter-drone systems from a military customer. The Raider systems will be deployed to protect borders, critical locations, and populations from hostile drones. This order positions Ondas as a prime defense contractor in the $1.6 billion counter-drone market.
The Iron Drone Raider system uses an autonomous AI-guided interception drone launched from a designated docking station. It can tackle all types of hostile drones, regardless of their navigation methods. The system operates by deploying a high-speed interceptor drone that identifies and 'locks on' to incoming hostile drones using sophisticated AI-enabled sensor technology.
Ondas anticipates additional follow-on orders and deployments to meet urgent security needs related to ongoing geopolitical conflicts. The company is building manufacturing capacity to support adoption of the Iron Drone Raider in the rapidly growing counter-drone solutions market.
Ondas Holdings announced the grand opening of American Robotics' new Maryland headquarters on June 12-13, 2024. This event will feature live demonstrations of the drone-in-a-box Optimus System and the Kestrel integration. The new center aims to be a hub for demonstrations, training, testing, and development, offering 24/7 operations in unrestricted airspace. The location is within an hour of key clients like the Department of Defense and federal government agencies. The Optimus System and Kestrel solution provide advanced AI and sensor technology for data collection, inspection, and surveillance across multiple industries.
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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