Ondas Q1 revenue falls to $0.6M; net loss narrows to $9.9M; secures $2.8M rail order

Ondas Inc.

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

Revenue $0.6M, down 77% YoY from $2.6M; gross margin negative due to low revenue and cost overruns.
Net loss narrowed to $9.9M from $14.5M YoY; operating loss improved 28% to $9.1M.
Ondas Networks secured $2.8M agreement to develop 220 MHz PTC radio for Northeast Corridor railroad.
Initial system-wide order for 900 MHz wireless network upgrade received from commuter railroad in Southwest.
Initial Iron-Drone Raider order from major Israeli defense company; additional orders expected in Q2/Q3 2024.

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 financial results for first quarter ended March 31, 2024.

Period: first quarter ended March 31, 2024
Result: reported results

Exact text from the filing

On May 15, 2024, Ondas Holdings Inc. (the "Company"), issued a press release announcing its financial results for the first quarter ended March 31, 2024.

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Ondas Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-043214

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