Slide 1: Second Quarter 2025 Earnings Release
Nasdaq: ONDS Second Quarter 2025 Earnings Release Nasdaq : ONDS NASDAQ: O NDS | August 12, 2025 1 Cop yright 2025. 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 Oshri Lugassy Co-CEO Oshri is a defense and technology leader with decades of Eric Brock experience in autonomous systems, global business CHAIRMAN & CEO development, and military command. Eric is an entrepreneur with over 25 years of management and investing experience.
Slide 4: Agenda
Nasdaq: ONDS Agenda • Introduction • Financial Review • Business Update • Ondas Autonomous Systems (OAS) • Ondas Networks • Closing Remarks • Q&A 4
Slide 5: Overview
Nasdaq: ONDS Overview Momentum continues in Q2—Record year expected • Advancing multi-year growth plan; reiterate target for at least $25 million in revenue for 2025 • Generated $6.3 million in revenue in Q2 2025, a 555% increase from Q2 2024 • OAS delivering on and expanding existing customer progr
Slide 6: Executing our Plan
Nasdaq: ONDS Executing our Plan Demonstrating traction with our financial model • Executing multiple programs for Optimus and Iron Drone with military and public safety • OAS has secured $39 million of orders in last 12 months • Consolidated backlog has grown to $22 million from $10 million at Q4 20
Slide 7: Favorable Policy Remains a Tailwind
Nasdaq: ONDS Favorable Policy Remains a Tailwind FAA ushers in BVLOS rulemaking intended to open the skies • BVLOS (Beyond Visual Line if Sight) Enablement – FAA rulemaking supports nationwide deployment of autonomous drones like Optimus and Iron Drone Raider • Infrastructure Airspace Access – Secti
Slide 8: Rift Dynamics
Nasdaq: ONDS Rift Dynamics Ondas' investment in Rift Dynamics strengthens its positioning in the defense drone space • Wåsp adds a low-cost, attritable drone to Ondas' existing portfolio MASS LETHALITY • Complements Optimus and Iron Drone Raider with loitering strike capability • Establishing a Euro
Slide 9: Financial Review
Nasdaq: ONDS FINANCIAL REVIEW NASDAQ: O NDS | August 12, 2025 Second Quarter 2025 Earnings Release Copyright 2025. All rights reserved. 9
Slide 10: Financial Review
Nasdaq: ONDS Financial Review Q2 2025 KEY FINANCIAL INSIGHTS: SELECT P&L DATA Three Months Ended June 30, • P&L reflects early stage of initial platform (Unaudited) 2025 2024 adoption for Ondas Networks and OAS • Expect gross margin to remain variable as Revenues, net $ 6,273,388 $ 957,851 product m
Slide 11: Financial Review
Nasdaq: ONDS Financial Review Q2 2025 KEY FINANCIAL INSIGHTS: SELECT CASH FLOW DATA Six Months Ended June 30, (Unaudited) 2025 2024 • Cash balance of $68.6 million • Cash provided by financing includes: Net cash used in operating activities $ (15,062,923) $ (16,274,722) • $42.7 million from the sale
Slide 12: Balance Sheet
Nasdaq: ONDS Balance Sheet Q2 2025 KEY FINANCIAL INSIGHTS: SELECT BALANCE SHEET DATA Jun. 30, 2025 Dec. 31, 2024 (Unaudited) • Cash position reflects the equity offering and ASSETS warrant exercises Cash and restricted cash $ 68,551,300 $ 29,999,321 • Holdings convertible debt outstanding reduced fr
Slide 13: Capitalization
Nasdaq: ONDS Capitalization Description of Shares Issued since May 14, 2025: Shares Outstanding Rollforward # of Shares • Ondas executed a public equity offering on June Shares Outstanding as of May 14, 2025 137,426,546 11, 2025, that raised $42.7 million and included: • 27.2 million common shares C
Slide 14: Ondas Networks
ONDAS
Slide 15: 802.16t Acceptance Broadening
Nasdaq: ONDS 802.16t Acceptance Broadening dot16 relevant for all private railroad networks • 900 MHz field trials are rapidly progressing with several Class 1 railroads, as dot16 enables massive capacity are full-scale deployments on several transit agencies increases for legacy networks • Class I
Slide 16: dot16 over 160 MHz
Nasdaq: ONDS dot16 over 160 MHz Demonstrating the value of connecting multiple applications, including Voice, over a dot16 network • We are launching a field trial in Q3 2025 to demonstrate the versatility of converting a 160 MHz network to dot16 on a large railroad network • Project will convert a
Slide 17: Gaining Momentum
Nasdaq: ONDS Gaining Momentum Progress on ongoing projects and responding to new customer opportunities • Continuing support for 900 MHz system deployments • Migration to new 900 MHz A-Block for primary use progressing • 900 MHz as an alternative path for 220 MHz applications • Field testing 900 MHz
Slide 18: Autonomous Systems
AUTONOMOUS SYSTEMS AIR@BOTICS RS NE RR RodNCs
Slide 19: OAS Highlights
Nasdaq: ONDS OAS Highlights Defense and Homeland Security Expansion Continues • Generated $6.1 million in revenues for Q2 2025; captured $23.3 million in orders YTD • More than 6-fold increase from the same period in 2024 • OAS backlog growth continued; supported by growing global demand for the Opt
Slide 20: Expansion Highlights
Nasdaq: ONDS Expansion Highlights World Tour Continues Plans for new demos with key US entities such as USAF, NYPD and others... participating in Interpol San Diego / US Southern Border CUAS Expo in September • Iron Drone’s demonstration tour continued opening many new opportunities in global market
Slide 21: Operating Platform Expansion
Nasdaq: ONDS Operating Platform Expansion Enabling Rapid Growth • Supported by talent acquisition, building OAS as a full operating platform – not just great products, but the infrastructure to deploy them • Established new Advisory Board and appointment of Brigadier General (Res.) Yaniv Rotem • Lev
Slide 22: Product Roadmap and Production
Nasdaq: ONDS Product Roadmap and Production Enhancing Product Capabilities and Streamlining Production • Expanded technical and field operations infrastructure to support increased production capacity, field deployments, and long-term program scaling for defense and homeland security markets • Conti
Slide 23: Accelerating U.S. Expansion
Nasdaq: ONDS Accelerating U.S. Expansion Establishing scalable operating platform • Mistral provides strategic access to Federal procurement channels • Detroit Manufacturing Systems (DMS) to support • 30+ years of deep contracting expertise and agency relationships in U.S. domestic production defens
Slide 24: Outlook
Nasdaq: ONDS OUTLOOK NASDAQ: O NDS | August 12, 2025 Second Quarter 2025 Earnings Release 24 Copyright 2025. All rights reserv ed.
Slide 25: Strategic Growth Plan Update
Nasdaq: ONDS Strategic Growth Plan Update MARKETS | CUSTOMERS Acquisitions provide fuel for operational flywheel to drive capital efficient growth plan Defense, homeland security, public safety, critical infrastructure and industrial Organic + Strategic Growth TECHNOLOGY CAPABILITIES • Lead with hig
Slide 26: Outlook for 2025
Nasdaq: ONDS Outlook for 2025 Positioned for a record year in 2025; strong progress on all KPIs Revenue Target New Military / Expanded Programs HLS Customers $25 Million 4 Expanded Customer Base Deliver Current Backlog New Industry Expanded Partner Ecosystem Partnerships $22.0 Million 4 Growing Oper
Slide 27: Q&A
Q&A NASDAQ: O NDS | August 12, 2025 Second Quarter 2025 Earnings Release Copyright 2025. All rights reserved.
Slide 28: Appendix: Adjusted EBITDA Reconciliation
Nasdaq: ONDS Appendix ADJUSTED EBITDA RECONCILIATION Three Months Ended June 30, 2025 (Unaudited) 2025 2024 Net Loss $ (10,750,150) $ (8,269,736) Depreciation 188,980 111,234 Other (income) expense, net 1,501,046 (33,854) Amortization of intangible assets 1,055,306 1,053,377 Stock-based compensation
Slide 29: Non-GAAP Financial Measures
Nasdaq: ONDS Non-GAAP Financial Measures As required by the rules of the Securities and Exchange Commission ("SEC"), we provide a reconciliation of Adjusted EBITDA and cash operating expenses, the non-GAAP financial measures, contained in this press release to the most directly comparable measures u
Slide 30: Thank You
THANK YOU NASDAQ: ONDS | August 12, 2025 Copyright 2025. All rights reserved. Nasdaq : ONDS