8-K
filed February 26, 2024, 6:59 PM ET
ticker ONDS
CIK 0001646188
earnings
confidence high
sentiment positive
materiality 0.70
Ondas reports preliminary 2023 revenue $15.7M, up 7x YoY; secures $8.6M investment
Ondas Inc.
2023-FY EPS reported
-$0.88
revenue$15,691,430
- Record preliminary revenue $15.7M for FY2023, up from $2.1M in FY2022; Q4 revenue $5M, up from $0.5M.
- Net loss narrowed to $44.8M in FY2023 from $73.2M; adjusted EBITDA loss $29.6M vs $40.1M.
- Raised $8.6M from investor group including Charles & Potomac Capital: $4.1M common stock and OAH warrants, $4.5M Networks preferred stock and Holdings warrants.
- Formed new wholly owned subsidiary Ondas Autonomous Holdings (OAH) to hold drone businesses (American Robotics, Airobotics).
- Cash $15.0M at Dec 31, 2023 vs $29.8M; convertible notes $28.5M.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Ondas Inc. reported fourth quarter ended December 31, 2023 results: revenue $5.0 million.
- Period
- fourth quarter ended December 31, 2023
- Revenue
- $5.0 million
- Result
- preliminary results
Exact text from the filing
Ondas expects revenue of $5.0 million for the fourth quarter ended December 31, 2023
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Ondas Inc. reported year ended December 31, 2023 results: revenue $15.7 million, net income -$44.8 million.
- Period
- year ended December 31, 2023
- Revenue
- $15.7 million
- Net income
- -$44.8 million
- Result
- preliminary results
Exact text from the filing
On a preliminary, unaudited basis, Ondas expects record revenue of $15.7 million for the year ended December 31, 2023.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Ondas Inc. entered into Preferred Stock Purchase Agreement with the purchasers named therein valued at $4.50 million (effective 2024-02-26).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- the purchasers named therein
- Value
- $4.50 million
- Effective
- 2024-02-26
Exact text from the filing
Also on February 26, 2024, Ondas Networks Inc., a Delaware corporation ("Networks") and subsidiary of the Company, entered into a Preferred Stock Purchase Agreement (the "Networks Agreement") for an investment of $4.50 million in Networks (the "Networks Offering," and together with the Ondas Offering, the "Offerings").
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Ondas Inc. entered into Securities Purchase Agreement with certain purchasers named therein valued at approximately $4.1 million (effective 2024-02-26).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- certain purchasers named therein
- Value
- approximately $4.1 million
- Effective
- 2024-02-26
Exact text from the filing
On February 26, 2024, the Company entered into a Securities Purchase Agreement (the "Ondas Agreement") with certain purchasers named therein (the "Ondas Purchasers") for the purchase and sale of (i) an aggregate of 3,616,071 shares (the "Holdings Shares") of the Company's common stock, $0.0001 par value per share ("Holdings Common Stock") and (ii) warrants to purchase an aggregate of 3,616,071 shares of Ondas Autonomous Holdings Inc.'s, a subsidiary of the Company, common stock $0.0001 par value per share, at an exercise price described in the OAH Warrant (as defined below) and exercisable commencing ninety days following the date of issuance through the fifth anniversary of the date of issuance (the "OAH Warrants," and together with the Holdings Shares, the "Ondas Offering Securities"), for gross proceeds of approximately $4.1 million (the "Ondas Offering").
View on SEC.gov
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