Ondas Holdings Announces Second Quarter Earnings
Ondas Holdings Inc., through its subsidiaries, Ondas Networks and American Robotics (“AR”), is a provider of private wireless, drone, and automated data solutions. The company announced its second quarter results on August 9, 2022.
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- Revenue for the second quarter was $600k compared to $900k for the three months ended June 30, 2021. However, revenue increased 50% quarter-over-quarter.
- Gross margin was 52.7% compared to 34.6% in Q2 2021.
- Net loss was around $11.3 million compared to a $2.8 million loss in Q2 2021.
- Cash balance at the end of June was about $28 million.
Ondas reaffirmed its 2022 financial outlook of at least $20 million in bookings for Ondas Networks, orders for at least 30 Scout Systems for AR and at least one customer reorder for fleet deployment.
“Across the UAS ecosystem, we see many companies who are small, under-resourced and undercapitalized. This results in parallel efforts and redundant investment in scale to deliver for customers in the field. With technology maturing, regulatory challenges being met and end-to-end solutions hardening, we believe the growth of the drone economy is poised to surge in the coming years and scale will become increasingly important…. We are positioned at Ondas Networks and AR to be a leader in these markets, which because of their complexity and their data-intensive nature, lend themselves to winner take most outcomes.”
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Miriam McNabb is the Editor-in-Chief of DRONELIFE and CEO of JobForDrones, a professional drone services marketplace, and a fascinated observer of the emerging drone industry and the regulatory environment for drones. Miriam has penned over 3,000 articles focused on the commercial drone space and is an international speaker and recognized figure in the industry. Miriam has a degree from the University of Chicago and over 20 years of experience in high tech sales and marketing for new technologies.
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