Ondas Q1 rev $2.6M (+533% YoY); net loss $14.5M; FY rev guide $26-30M (low end)

Ondas Inc.

2023-Q1 EPS reported -$0.30 revenue$2,595,991

Q1 revenue $2.6M (vs $0.4M YoY, +533%); gross margin 39.5% (vs 29.8%).
Net loss $14.5M vs $10.0M YoY; operating loss $12.7M; EBITDA loss $10.2M.
Cash $14.1M at Mar 31 (down from $29.8M Dec 31); Q1 cash burn $12.7M.
FY2023 revenue target reaffirmed $26-30M but at low end; EBITDA loss expected above prior outlook.
AAR adopts IEEE 802.16 standard for 900 MHz rail band; Ondas delivering from $7.4M Siemens backlog.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Ondas Inc. reported first quarter ended March 31, 2023 results: revenue $2.6 million.

Period: first quarter ended March 31, 2023
Revenue: $2.6 million
Result: reported results

Exact text from the filing

reported financial and operating results for the first quarter ended March 31, 2023. “The first quarter marked the beginning of commercial platform adoption and gives us great optimism about the road ahead for our Ondas Networks and Ondas Autonomous Systems (OAS) businesses,” said Eric Brock, Ondas’ Chairman and CEO. “Each contributed to the total $2.6 million in first quarter revenues, exceeding the $2.1 million we reported for the entire year of 2022, demonstrating we are on track to meet our 2023 goals.”

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Source: SEC EDGAR

accession 0001213900-23-039288

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