Ondas Inc · NASDAQ:ONDS
Ondas — Q1 2024 Earnings Presentation
21 slides from Ondas's earnings presentation, May 15, 2024
Slide 1: First Quarter 2024 Earnings Release
First Quarter 2024 Earnings Release Nasdaq : ONDS NASDAQ: ONDS | May 15, 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: Overview
Nasdaq: ONDS Overview Ondas well positioned for long-term growth • Challenging Q1 2024 financial results • Extended timeline to commercial volume orders on 900 MHz • Gaza War deferred revenue generating business development activity • New order milestones demonstrate broadening technology adoption •
Slide 6: Financial Review
Nasdaq: ONDS Financial Review KEY FINANCIAL INSIGHTS: Q1 2024 • P&L reflects early stage of initial platform SELECT P&L DATA Three Months Ended March 31, adoption for Ondas Networks and OAS 2024 2023 Revenues, net $ 625,009 $ 2,595,991 • Weak revenue due to extended timelines Cost of goods sold 1,01
Slide 7: Financial Review
Nasdaq: ONDS Financial Review Q1 2024 KEY FINANCIAL INSIGHTS: • Cash balance of $14.6 million SELECT CASH FLOW DATA Three Months Ended March 31, • Cash provided by financing includes: 2024 2023 • $4.5 million gross proceeds raised Net cash used in operating activities $ (7,455,524) $ (12,832,263) du
Slide 8: Balance Sheet
Nasdaq: ONDS Balance Sheet Q1 2024 KEY FINANCIAL INSIGHTS: • Cash balance of $14.6 million SELECT BALANCE SHEET DATA March 31, 2024 December 31, 2023 • New investment at Ondas Holdings and ASSETS Ondas Networks Cash, cash equivalents and restricted cash $ 14,590,709 $ 15,022,000 • Convertible notes
Slide 9: Ondas Networks
ONDAS
Slide 10: 900 MHz – ATCS & dot16 Update
Nasdaq: ONDS 900 MHz – ATCS & dot16 Update Systems integration progressing • Completed 900 MHz systems integration effort in multiple deployments in both freight rail and passenger rail environments • Backwards compatibility with legacy train operating systems including back office demonstrated; new
Slide 11: 900 MHz Reaffirmed
Nasdaq: ONDS 900 MHz Reaffirmed AAR highlights dot16 and commitment to 900 MHz • AAR provided comment letter to FCC re: 900 MHz plans • Reiterated intent to clear the legacy 900 band in September 2025 • Stated that the “900 MHz network is a key component” of the industry’s “next-generation network p
Slide 12: dot16 Market Expansion
Nasdaq: ONDS dot16 Market Expansion Landmark order for 220 MHz PTC data radio • Order for on-locomotive and wayside radios from key Northeast Corridor passenger railroad operator • Upgrade of legacy PTC radio in 220 MHz frequency • Commercial delivery slated for Q1 2025 • Expanding 900 MHz use cases
Slide 13: Autonomous Systems
AUTONOMOUS SYSTEMS ; ~ IRON 2 AMERICAN AIRG@BOTICS DRONE R ROBOTICS
Slide 14: OAH Update
Nasdaq: ONDS OAH Update Leverage strength of aerial security and intelligence solutions in key vertical markets • OAH corporate structure provides operational and financial flexibility to support growth plan • Growing customer pipeline in U.S. and now Europe • Focused on key critical end markets and
Slide 15: Market, Customer and Product Expansion
Nasdaq: ONDS Market, Customer and Product Expansion Enhancing security and monitoring of critical facilities projects, public safety and military assets • Fleet expansion in UAE expected to continue • Governmental customer in Dubai points to 22 system fleet by end of 2025 • Potential for expanded co
Slide 16: US Customer & Strategic Activity
Nasdaq: ONDS US Customer & Strategic Activity American Robotics prepared for growth • Customer pipeline deepening and maturing • Focused on fleet opportunities and shared infrastructure models • Advanced marketing with additional customers to launch programs for 2024; pipeline highlights: • DOTs, Po
Slide 17: Outlook
Nasdaq: ONDS Outlook 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 OAS customer announcements • Visibility limited in first half 2024 • Focus on operation scale
Slide 18: Q&A
Q&A NASDAQ: ONDS | May 15, 2024 First Quarter 2024 Earnings Release Copyright 2024. All rights reserved.
Slide 19: Appendix
Nasdaq: ONDS Appendix ADJUSTED EBITDA RECONCILIATION Three Months Ended March 31, (Unaudited) 2024 2023 Net loss (9,876,084) (14,455,551) Depreciation expense 123,071 252,544 Other income (expense), net 748,889 1,802,872 Amortization of intangible assets 1,052,211 978,838 Stock-based compensation 26
Slide 20: 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 Earnings (Loss) before interest, depreciation, amortization, stock-based compensation and taxes (“Adjusted EBITDA”), the non-GAAP financial measure, cont
Slide 21: Thank You
Nasdaq: ONDS THANK YOU NASDAQ: ONDS | May 15, 2024 Copyright 2024. All rights reserved. Nasdaq : ONDS 21