Business
Ondas Holdings Reports Fourth Quarter and Full Year 2022 Financial Results
Reaffirms operating and financial outlook shared at Virtual Investor Event on February 14, 2023Conference Call Scheduled for Today at 8:30 a.m. ETWALTHAM, MA
About this update from Ondas Inc
[{"type":"text","content":"Reaffirms operating and financial outlook shared at Virtual Investor Event on February 14, 2023Conference Call Scheduled for Today at 8:30 a.m. ETWALTHAM, MA / ACCESSWIRE / March 14, 2023 / Ondas Holdings Inc. (NASDAQ:ONDS) (\"Ondas\" or the \"Company\"), a leading provider of private industrial wireless networks and commercial drone and automated data solutions, reported financial and operating results for the fourth quarter and the full year ended December 31, 2022.\"Ondas entered 2023 with momentum across all business segments. Our high-value, proprietary technology platforms have now transitioned to commercial adoption as we execute on the opportunities in the large critical markets we target including rail, O&G and public safety,\" said Eric Brock, Ondas' Chairman and CEO. \"We are delivering near-term revenue in both our Ondas Networks and Ondas Autonomous Systems (OAS) businesses and defining the new, emerging industries around autonomous drones, data, and AI.\"The immediate opportunity for Ondas Networks is to deploy our FullMAX wireless data platform to support critical train operations and rail safety initiatives to a growing number of Class I U.S. railroads. Demand for our wireless networking technology is accelerating as regulatory deadlines near in the 900 MHz frequency band and awareness grows of the requirements for robust, secure private wireless systems to support the adoption of existing and new rail safety applications. We are proud of the work we are doing to provide a wireless backbone supporting existing and new advanced technologies required as the railroads continue to invest in efficient and safe train operations. We believe Ondas Networks wireless systems will be an important component adding to US rail safety upgrades.\"We see momentum building in our drone businesses as we transition our Optimus platform to fleet deployments, including the building of Urban Drone Infrastructure across densely populated cities. We have integrated American Robotics, Airobotics, and now Iron Drone's operations into our OAS business unit to create a global player in autonomous drone platforms, unifying R&D and sales efforts to deliver several early successes. We believe OAS is positioned to lead the growth of a winner-take-most drone market that is by some estimates forecast to grow to over $100 billion. OAS's technical l...