Business
Ondas Holdings Reports First Quarter 2022 Financial and Operational Results
Ondas Holdings Affirms 2022 Financial and Operational OutlookOndas Networks Prepares for FullMAX™ Platform Deployment with North American Class I Rails in 900
About this update from Ondas Inc
[{"type":"text","content":"Ondas Holdings Affirms 2022 Financial and Operational OutlookOndas Networks Prepares for FullMAX™ Platform Deployment with North American Class I Rails in 900 MHz NetworkAmerican Robotics Building Strong Foundation and Demonstrating Value of Drone Platform to Key Customers Ahead of Larger, Potential Fleet OrdersCompletes Acquisition of Rail Inspection Analytics Platform, Ardenna, on April 5, 2022Conference Call Scheduled for Today at 8:30 a.m. ETWALTHAM, MA / ACCESSWIRE / May 11, 2022 / Ondas Holdings Inc. (NASDAQ:ONDS) (\"Ondas\" or the \"Company\"), a leading provider of private wireless, drone and automated data solutions through its wholly owned subsidiaries, Ondas Networks Inc. (\"Ondas Networks\") and American Robotics, Inc. (\"American Robotics\" or \"AR\"), reported financial and operating results for the first quarter ended March 31, 2022.\"The first quarter marked another period of solid progress as we continue to execute on our key priorities and prepare for expected growth in orders and revenue across our business segments in 2022 and beyond,\" said Eric Brock, Ondas' Chairman and CEO. \"Our work at Ondas Networks this quarter continued to reflect our transition from market development to platform delivery. We successfully delivered the second launch order to a Class I railroad, while beginning the initial, pre-order field work with an additional Class I railroad and working with contract manufacturers to ensure we are in a strong position to execute on the anticipated purchase orders over the course of the year. At American Robotics, we made notable headway executing on our initial customer installations. We advanced our strategic initiatives, including growing our patent portfolio and establishing critical relationships with vendors to establish a reliable supply chain ahead of our expected growth. We also recently expanded our FAA approvals for automated drone operations at seven additional sites and completed the acquisition of Ardenna, a leading provider of rail infrastructure monitoring solutions, which we believe enhances American Robotics' ability to penetrate rail markets with our Scout System™.\"As we enter the second half of 2022, we expect to gain traction in the field across all segments. The progress we are making today gives us confidence that we will be able to meet our customers' expectations and del...