Ondas Inc · NASDAQ:ONDS
Ondas — FY2023 Earnings Presentation
29 slides from Ondas's earnings presentation, Apr 1, 2024
Slide 1: Fourth Quarter & Full Year Earnings Release
Fourth Quarter & Full Year 2024 Earnings Release Nasdaq : ONDS NASDAQ: ONDS | April 1, 2024 Copyright 2024. All rights reserved.
Slide 2: Disclaimer
Nasdaq: ONDS Disclaimer This presentation may contain "forward-looking statements" as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as "expects," "projects," "will," "may," "anticipates," "believes," "should,
Slide 3: Leadership Team
Nasdaq: ONDS Leadership Team ERIC BROCK CHAIRMAN & CEO Eric is an entrepreneur with over 25 years of management and investing experience. YISHAY CURELARU GUY SIMPSON MEIR KLINER TIM TENNE CFO PRESIDENT & COO PRESIDENT CEO Yishay is an experienced financial Meir is an entrepreneur with over Tim bring
Slide 4: Agenda
Nasdaq: ONDS Agenda Ondas on track to accelerate momentum in 2024 • Introduction • Financial Review & Outlook • Business Update • Ondas Networks • Ondas Autonomous Systems (OAS) • Closing Remarks • Q&A 4
Slide 5: Introduction
Nasdaq: ONDS Introduction Strengthening our business platform • Joe Popolo, CEO of Charles & Potomac Capital LLC joins Ondas Holdings Board of Directors • Largest single investor in the company • Experienced corporate executive; long history as operator and investor driving significant business grow
Slide 6: Overview
Nasdaq: ONDS Overview 2023 was a breakout year for Ondas • Platform adoption drove significant revenue growth • Generated $15.7 million in revenue (more than 7-fold growth YoY) • Ondas Networks generated $6.7 million of revenue • OAS generated $9.0 million of revenue • Ondas Networks growth driven b
Slide 7: Financial Review Q4 2023
Nasdaq: ONDS Financial Review KEY FINANCIAL INSIGHTS: Q4 2023 • P&L reflects early stage of initial platform SELECT P&L DATA Three Months Ended December 31, 2023 2022 adoption for Ondas Networks and OAS Revenues, net $ 4,961,285 $ 478,912 • Strong year-over-year growth driven by Cost of goods sold 3
Slide 8: Financial Review FY 2023
Nasdaq: ONDS Financial Review KEY FINANCIAL INSIGHTS: FY 2023 • Generated 7-fold revenue growth SELECT P&L DATA Twelve Months Ended December 31, • Growth driven by record revenue at both 2023 2022 business units Revenues, net $ 15,691,430 $ 2,125,817 • Ondas Networks growth driven by Cost of goods s
Slide 9: Financial Review: Cash Flow
Nasdaq: ONDS Financial Review FY 2023 KEY FINANCIAL INSIGHTS: • Cash balance of $15.0 million SELECT CASH FLOW DATA Twelve Months Ended December 31, 2023 2022 • Operating cash burn includes working capital investment of $3.9 million Net cash used in operating activities $ (34,019,519) $ (37,963,076)
Slide 10: Balance Sheet
Nasdaq: ONDS Balance Sheet FY 2023 KEY FINANCIAL INSIGHTS: • New investment at Ondas Holdings and SELECT BALANCE SHEET DATA December 31, December 31, 2023 2022 Ondas Networks ASSETS Cash and restricted cash $ 15,022,000 $ 29,775,096 • Convertible notes amortize monthly through maturity via equity To
Slide 11: Ondas Networks
ONDAS
Slide 12: Introduction
Nasdaq: ONDS Introduction Ondas Networks business focus moves squarely to platform adoption and service delivery • Appointed Guy Simpson President, in addition to his role as Chief Operating Officer • OPEX investments intently focused on driving our path to revenue growth and profitability • Greenfi
Slide 13: Driving 900 MHz Migration
Nasdaq: ONDS Driving 900 MHz Migration The dot16 adoption cycle starting in Rail and 900 MHz RAILROADS FOCUSED ON 900 MHz LAUNCH $6.7 MILLION RECORD CLASS I RAILS MOMENTUM VOLUME BUILDING Record Revenue in 2023 Record production and Advanced to final stages of Industry momentum building product ship
Slide 14: 900 MHz Update
Nasdaq: ONDS 900 MHz Update Substantial investments in technical and market development Timeline of Key Events Ondas begins Ondas and Siemens Product development dot16 MxV Rail Train operating groups engaged engagement with form partnership with Siemens Lab established for complex final field system
Slide 15: 900 MHz – ATCS & dot16
Nasdaq: ONDS 900 MHz – ATCS & dot16 2025 deadlines support expected order ramp • Ondas and Siemens engaged with final SYSTEM integration and migration activities • In late stages demonstrating the scalable processes related to ATCS systems integration and network migration to dot16 protocols • Addre
Slide 16: Outlook for Ondas Networks
Nasdaq: ONDS Outlook for Ondas Networks Transition to orders, backlog and delivery for 900 MHz New photo • Grow revenue and orders • Secure major volume orders in Q2 2024 • Grow order book and backlog through 2024 with more Rail customers • Drive broader adoption of dot16 platform / ecosystem • Acce
Slide 17: Autonomous Systems
AUTONOMOUS SYSTEMS AIR@BOTICS 1 [RON = L ROBOTICS
Slide 18: Optimus Ascension Begins
Nasdaq: ONDS Optimus Ascension Begins Record revenues during 2023 demonstrate strong product- market value for aerial security and data solutions • Strong market fit of Optimus Drone fleet is driving OAS growth • Optimus System fleet deployments, proof of value programs and system demonstrations con
Slide 19: Highlight: Dubai Emergency Response
Nasdaq: ONDS Highlight: Dubai Emergency Response Optimus System highlighted in Dubai • Dubai governmental customer continues with fleet expansion • Ondas has delivered eight systems to customer through 2023 • Optimus System and its value in public safety highlighted at World Police Summit in March •
Slide 20: Iron Drone Raider
Nasdaq: ONDS Iron Drone Raider Raider addresses urgent market need with high performance and unique capabilities • Accelerating commercialization of Iron-Drone Raider • Demand surging as defense and homeland security needs are transformed by the growing threat of hostile drones • Responding to urgen
Slide 21: US Customer & Strategic Activity
Nasdaq: ONDS US Customer & Strategic Activity American Robotics – is built to scale in 2024 • Customer pipeline deepening and maturing • Focused on fleet opportunities and shared infrastructure models • Executed successful POV with MassDOT Aeronautical; included Optimus System demonstrations at mult
Slide 22: Highlight: MassDOT Aeronautics
Nasdaq: ONDS Highlight: MassDOT Aeronautics Successful proof of value program; exploring expansion opportunities • Completed successful MassDOT Aeronautics POV • Potential proven in multi-requirements domain • Maritime, Environmental, Safety, Security, Inspection • Advanced regulatory solutions for
Slide 23: Outlook for OAS
Nasdaq: ONDS Outlook for OAS Revenue ramp continues; on track to achieve 2024 objectives • Grow revenue and orders • Continue to deliver on fleet deployments in UAE • Secure additional fleet customers engagement in both US and international markets • Marketing team is now deployed in Europe • Accele
Slide 24: Ondas Autonomous Holdings
Nasdaq: ONDS Ondas Autonomous Holdings Exceptional opportunity to define the delivery of automated drone services on global scale ($ONDS) • Formation of Ondas Autonomous Holdings (OAH) • 100% owned by Ondas Holdings ($ONDS) 100% • OAH owns 100% of drone businesses and brands • Provides operational a
Slide 25: Outlook 2024
Nasdaq: ONDS Outlook 2024 Focus on deployments and operational scale • Expect significant revenue growth in both Ondas Networks and OAS • Targeting orders on 900 MHz with Class Is • Inventory delivery drives new customer announcements • Visibility limited in early 2024 • Focus on operation scale to
Slide 26: Q&A
Q&A NASDAQ: ONDS | April 1, 2024 Fourth Quarter & Full Year 2024 Earnings Release Copyright 2024. All rights reserved.
Slide 27: Appendix: EBITDA Reconciliation
Nasdaq: ONDS Appendix EBITDA RECONCILIATION Twelve Months Ended December 31, Three Months Ended December 31, (Unaudited) 2023 2022 2023 2022 Net loss $(44,844,872) $(73,241,805) $(14,138,774) (38,261,640) Depreciation expense 844,833 449,458 196,209 169,263 Other income (expense), net 5,115,572 3,81
Slide 28: Non-GAAP Financial Measure
Nasdaq: ONDS Non-GAAP Financial Measure As required by the rules of the Securities and Exchange Commission (“SEC”), we provide a reconciliation of EBITDA, the non-GAAP financial measure, contained in this presentation to the most directly comparable measure under GAAP, which reconciliation is set fo
Slide 29: Thank You
Nasdaq: ONDS THANK YOU NASDAQ: ONDS | April 1, 2024 Copyright 2024. All rights reserved. Nasdaq : ONDS 29