Ondas Holdings Inc.
Ondas Holdings Reports Second Quarter 2024 Financial Results and Operational Updates
Summary
Ondas Holdings Inc. reported financial and operating results for the second quarter of 2024. The company generated approximately $1.0 million in revenue, compared to $5.5 million in the same period of 2023. Gross profit was a loss of approximately $0.2 million, with gross profit as a percentage of revenues at (20%), compared to 56% in 2023. The company experienced an operating loss of approximately $8.3 million, slightly down from $8.5 million in 2023. Operational highlights included securing new contracts for their Iron Drone Raider and Optimus systems. Despite challenges from delays and market conditions, the company anticipates growth in the second half of 2024, particularly in its Ondas Autonomous Systems business unit.
Profitelligence Alerts
Get alerts for ONDS
Be first to know when Ondas Holdings Inc. files with the SEC.
Filing Categories
Exhibits (2)
Advertisement
About Ondas Holdings Inc.
Ondas Holdings Inc. is a technology company specializing in advanced wireless networking solutions. The company's primary function is to develop and provide mission-critical networking infrastructure for the Industrial Internet of Things (IIoT). Ondas Holdings offers its proprietary FullMAX radio platform, which is designed for secure, reliable, and extensive coverage networking in open and challenging environments, making it particularly suitable for industrial and commercial sectors. The industries it impacts include utilities, transportation, and public safety, among others, by providing robust wireless communication networks that enhance operational efficiencies and safety protocols. Ondas Holdings is significant in the market for its innovative approach to addressing the unique communication needs of large-scale enterprises, driving the digital transformation of traditional industries towards more connected and data-driven operations.
Official SEC Documents
Advertisement