Ondas Holdings record FY23 revenue $15.7M (+638% YoY); narrows net loss; expects continued growth in 2024

Ondas Inc.

2024-Q1 EPS reported -$0.17 revenue$625,009

FY23 revenue $15.7M (up 638% YoY); Q4 revenue $5.0M (10x YoY). OAS segment $9.0M, Ondas Networks $6.7M.
Net loss narrowed to $44.8M for FY23 from $73.2M in FY22; Adjusted EBITDA loss $29.7M vs $40.1M.
Cash at Dec 31, 2023: $15.0M; pro forma $23.4M after subsequent equity and preferred stock raise of $8.6M.
Expects significant revenue growth in FY2024 driven by 900 MHz rail network deployments and OAS scaling.
FAA Type Certification for Optimus-1EX; first commercial order for urban drone fleets in Dubai and Abu Dhabi.

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 0.95

Ondas Inc. reported the fourth quarter and year ended December 31, 2023 results: revenue $15.7 million.

Period: the fourth quarter and year ended December 31, 2023
Revenue: $15.7 million
Result: reported results

Exact text from the filing

2 ea020288601ex99-1_ondas.htm PRESS RELEASE, DATED APRIL 1, 2024 Exhibit 99.1 Ondas Holdings Reports Fourth Quarter and Full Year 2023 Financial Results Record 2023 revenues of $15.7 million, an increase of 638% over 2022, driven by commercial adoption of the Optimus System and record product revenues at Ondas Networks Q4 2023 revenues were $5.0 million, a

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Source: SEC EDGAR

accession 0001213900-24-028229

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