Business
Ondas Holdings Reports Third Quarter 2022 Financial and Operational Results
Ondas Networks will begin delivering on an initial volume order from Siemens Q4 2022Ondas Networks received first initial volume order for a major Asian
About this update from Ondas Inc
[{"type":"text","content":"Ondas Networks will begin delivering on an initial volume order from Siemens Q4 2022Ondas Networks received first initial volume order for a major Asian railway with multi-year delivery from SiemensAmerican Robotics partners with ICI to further develop fugitive gas emissions detection solution for Oil & Gas customersAirobotics acquisition on track to close Q1 2023Secured $30.0 million in growth capital via a convertible notes offeringConference call scheduled for today at 8:30 a.m. ETWALTHAM, MA / ACCESSWIRE / November 14, 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 third quarter ended September 30, 2022.\"We continued to make progress in advancing the adoption of our industrial technology platforms at Ondas Networks and American Robotics,\" said Eric Brock, Ondas' Chairman and CEO. \"As we look to close out 2022, we have built momentum with customers that we expect to lead to revenue growth beginning in 2023. We believe the revenue ramp will begin at Ondas Networks where the initial volume order we announced from Siemens in August marks the start of a multi-year rollout of our \"dot16\" compliant wireless connectivity platform with the Class I Railroads. In addition, our announcement today of the Siemens order for a major Asian railway demonstrates the global opportunity for our FullMAX technology. We are now scaling production to fulfill these orders while continuing to work with Siemens and our rail customers to expand the order book for 2023.\"At American Robotics, we recently announced a partnership with Infrared Cameras Inc. (ICI) to develop data-intensive inspection solutions for fugitive emissions detection in oil & gas operations. We believe this partnership will be instrumental in accelerating the development of a critical solution that caters to our core customers. Our ongoing development, with a targeted group of customers in the field and on the product roadmap, continues as we identify and define the scalable data solutions necessary to enable the eventual wide-scale fleet adoption of Scout Systems in critical industrial mar...