Ondas Inc · NASDAQ:ONDS
Ondas — Investor Day (July 2025)
73 slides from Ondas's investor day presentation, Jul 9, 2025
Slide 1: OAS Investor Day 2025
OAS INVESTOR DAY 2 0 2 5 July 9, 2025
Slide 2: Forward-Looking Statements
Forward - Looking Statements This presentation may contain "forward - looking statements" as that term is defined under the Private Securities Litigation Reform Act of 1995 , which statements may be identified by words such as "expects," "projects," "will," "may," "anticipates," "believes," "should,
Slide 3: Agenda
AGENDA 3 • Introduction • Corporate overview • Technology, solutions and services platforms • Go to market strategy • Financial outlook • Strategic roadmap • Q&A session
Slide 4: Leadership Team
LEADERSHIP TEAM TIM TENNE CEO EITAN ROTBERG SVP PRODUCT & MARKETING MEIR KLINER FOUNDER & CEO RONI KANELBAUM VP CORPORATE DEVELOPMENT OSHRI LUGASSY CO - CEO NEIL LAIRD CHIEF FINANCIAL OFFICER ERIC BROCK CHAIRMAN, CEO 4
Slide 5: Ondas Autonomous Systems
Ondas Autonomous Systems Leading autonomous platforms; marquee customer adoption and global footprint 5 NASDAQ: ONDS EMPLOYEES (1) 117 INVESTED CAPITAL (2) » $165 Million LOCATIONS Headquarters Baltimore, MD Petah Tikva, Israel Global Sales & Marketing Dubai, UAE Singapore Milit6ry & HLS Customers &
Slide 6: OAS Mission
To protect and secure critical assets, locations and populations and support the homeland defense of Allied nations. We deliver aerial security, intelligence and data solutions to critical military, government and industrial markets across the world. We develop and produce highly functional, industr
Slide 7: OAS Positioned For Growth
OAS Positioned For Growth Expect to deploy growth capital at high returns Technology platforms “combat - ready” End markets open to scale De - risked financial model De - risked balance sheet Cash runway created Ondas is building a leading defense & security company 7
Slide 8: Operating Data – Ondas Holdings
Operating Data – Ondas Holdings (1) • Expect to report approximately $6.0 million in revenue for Q2 2025; a 6 - fold increase vs Q2 2024 • Backlog estimated at $22.8 million (adj. for Q2 2025 expected revenue) • Expect $25 million in total revenue at Ondas Holdings in 2025 • Expect at least $20 mill
Slide 9: Portfolio of Best-in-Class Defense and Security Platforms
“A PORTFOLIO OF BEST - IN - CLASS DEFENSE AND SECURITY PLATFORMS DEPLOYED TO PROTECT AND SECURE SENSITIVE LOCATIONS, POPULATIONS AND CRITICAL INFRASTRUCTURE.” – ERIC BROCK, CEO Fully Autonomous Aerial Platforms Multi - system portfolio IRON DRONE RAIDER An autonomous counter - drone platform deploye
Slide 10: Investment Highlights
Investment Highlights Proprietary technology platforms positioned for success in massive end markets 10 • OAS has portfolio of leading dual - use autonomous drone platforms • Secured multiple programs for Optimus and Iron Drone with military and public safety • $39 million of orders received in last
Slide 11: Focus On Scalability
Focus On Scalability Executing business plan to scale across all key functions to support high growth, value for customers and high returns for investors MARKETS | CUSTOMERS Defense, homeland security, public safety, critical infrastructure and industrial TECHNOLOGY CAPABILITIES Optimus , Iron Drone
Slide 12: Supportive Macro & Policy Tailwinds
Supportive Macro & Policy Tailwinds — Complex geopolitical climate, rapid technology change is driving military and security budgets higher and shortening procurement cycles • Rising global threats driving demand for secure U.S. technologies • Heightened geopolitical tensions elevating national secu
Slide 13: Supportive Macro & Policy Tailwinds
Supportive Macro & Policy Tailwinds — White House (via EOs) and DoD priorities aligned to support the accelerating development of the domestic drone and security industry • BVLOS Rules Unlock Scalable Operations Mandated FAA rulemaking to enable routine Beyond Visual Line of Sight (BVLOS) operations
Slide 14: Technology & Capabilities
TECHNOLOGY & CAPABILITIES
Slide 15: Deployed End-to-End: Full-Stack Physical AI
Deployed End - to - End: Full - Stack Physical AI World - class, AI - enabled robotics and intelligence MARKETS | CUSTOMERS Defense, homeland security, public safety, critical infrastructure and industrial TECHNOLOGY CAPABILITIES Optimus , Iron Drone , Insightful + AI and Strategic Roadmap OPERATING
Slide 16: Physical AI Deployed
Physical AI Deployed OAS delivers critical defense, security & intelligence via autonomous, mission - ready platforms 16
Slide 17: Full Stack Physical AI
Full Stack Physical AI This vertically integrated stack enables OAS to deliver autonomous, mission - ready solutions in defense, homeland security, public safety, and critical infrastructure markets Action Systems Edge & On - Board Compute ––– Perception Edge Devices Decision Intelligence – - - Inte
Slide 18: Autonomous Drone Infrastructure
Autonomous Drone Infrastructure Mission - proven, scalable drone infrastructure & intelligence IRON DRONE RAIDER An autonomous counter - drone platform deployed to target and capture enemy drones for military and homeland security markets. OPTIMUS SYSTEM Provides automated aerial security and intell
Slide 19: Autonomy In Action
Autonomy In Action Real - time, persistent security & intelligence infrastructure FROM DETECTION TO RECOVERY IN UNDER THREE MINUTES OPTIMUS IRON DRONE 19
Slide 20: Best-In-Class Software
Docking Stations Automation Drone Fleet Command & Control On - Board Flight & Sensors Data Handling and Analytics Best - In - Class Software OAS is providing full stack software and platforms INSIGHTFUL DATA PORTAL PRIMUS COMMAND & CONTROL DEEPSTREAM AI & PRIMUS SENSE 20 PRIMUS & IRON HQ
Slide 21: Insightful Data Portal
LAYERS PRESENTATION Users can present and browse through different data layers processed by Airobotics or other GIS data, by date and/or content type MEASUREMENTS & ANNOTATIONS Users can take 3D measurements and add annotations over geospatial data LOCAL ASSETS CAD & IDs Local CAD drawings and IDs f
Slide 22: Primus C4ISR Platform
Primus C4ISR Platform Software & end – user interfaces 22 • Intuitive Control : Users can operate the Optimus System through an advanced command and control application. • Mission Management : Includes real - time video and camera control, flight planning, mission execution, and fleet oversight. • F
Slide 23: Iron Deepstream - AI Embedded Intelligence
COMPUTER VISION - BASED FLIGHT High frequency flight control AI DETECTION AND OBJECT TRACKING Object detection recognition and tracking Iron Deepstream - AI Embedded Intelligence OAS develops and deploys powerful innovative AI - embedded software • Fused sensor array leveraging optical, thermal and
Slide 24: The Iron Drone Raider System
THE IRON DRONE RAIDER SYSTEM 24/7 Counter UAS (C - UAS) Operations The Iron Drone Raider System is an advanced counter - drone solution, designed to defend assets against hostile drones in complex environments with minimal collateral damage. The system can also be enabled for other defense applicati
Slide 25: The Iron Drone Raider System components
The Raider System is an advanced counter - drone solution, designed to defend assets against hostile drones in complex environments with minimal collateral damage. The Iron Drone Raider System Drone Pod Reusable | reloadable multi - drone storage and launcher Drone Detection Radar External radar det
Slide 26: Watch Video Here
WATCH VIDEO HERE > 26
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Waiting for the source file to clean this up 27
Slide 28: Autonomous Surveillance Drone System
Ir 7 AUTONOMOUS SURVEILLANCE DRONE SYSTEM 24/7 AUTOMATED DRONE OPERATIONS | AN END-TO-END FULLY AUTOMATED UNMANNED AERIAL VEHICLE SYSTEM AUTOMATED SECURED DATA FULL AUTOMATION 24/7 MULTIPLE DATA COLLECTION Allowing routine data capturing without human intervention. - START MISSION LAUNCH MISSION & D
Slide 29: Watch Video Here
WATCH VIDEO HERE > 29
Slide 30: Optimus mission workflow and payloads
1 Mission requested and flight plan starts to prepare 2 Drone launches from the base station autonomously 3 Drone flies preplanned missions, transmitting data to the base station 4 The drone returns to the base station and lands automatically for data offload and battery swap 5 End user receives pro
Slide 31: Multiple Applications Drone Network
Multiple applications drone network Optimus System Network COVERAGE ~30 sq mi 31
Slide 32: Kestrel System
KESTREL SYSTEM Advanced DAA, C - UAS System, and Airspace Management and Security An integrated detect and avoid platform that enables true remote and BVLOS autonomous operations 32
Slide 33: Kestrel System capabilities
• Autonomous flight validation, approval, and rerouting within 5 seconds • Real - time assessment and mitigation of airspace risks • AI - driven predictive flight path tracking and risk - based adjustments • C - UAS: Short - range detection within a 2.5 - mile heightened awareness zone • Dismount: E
Slide 34: Optimus, Kestrel and Operational Control Center
The Kestrel System offers complete air traffic awareness by detecting and tracking up to 20 targets within a 15.5 - mile radius. Using passive sensors, it provides real - time tracking and threat identification, ensuring safe airspace integration Fully Automated Drone Infrastructure Remote Operation
Slide 35: Development Roadmap
Development Roadmap Mature platforms; extendable capabilities • Focus on driving adoption of existing platforms • Flexible development plan based on customer demand • Focus on platform capabilities extension • Leverage modular systems architecture • Designed for known customer and partner requiremen
Slide 36: Go-to-Market Operating Platform
GO - TO - MARKET OPERATING PLATFORM
Slide 37: Scalable Operating Platform
Scalable Operating Platform Ondas is building a scalable operating platform to support high growth Key elements of scalable operating platform • Focus on capturing and expanding large customer programs • Dual use – emphasize resources on high demand markets • Invest in building the scalable operatin
Slide 38: Optimus & Iron Drone GTM
Drone as First Responder Border Protection Military Bases and Forces Protection Government Buildings Protection Defense Homeland Security Public Safety Optimus & Iron Drone GTM From governmental to commercial customers and applications Phase - 1 Launch Markets Phase - 2 Expanded Markets Phase - 3 Sh
Slide 39: Optimus: $1.5B Drone-in-a-Box Market
2024 2025 2026 https:// www.fortunebusinessinsights.com/drone - in - a - box - mark et - 108470 OPTIMUS: $1.5 B DRONE - IN – A - BOX MARKET OAS Strong Presence In Key Global Drone Markets From governmental to commercial customers and applications 2.9 2.5 2.1 1.8 1.5 1.3 3.5 2027 2028 2029 2030 ($ in
Slide 40: Iron Drone Raider: $3B Counter Drone Market
IRON DRONE RAIDER: $3 B COUNTER DRONE MARKET 2024 2025 2026 https:// www.grandviewresearch.com/industry - analysis/anti - drone - market 8.1 6.3 5 3.9 3 2.4 10.3 2027 2028 2029 2030 OAS Strong Presence In Key Global Drone Markets From governmental to commercial customers and applications ($ in billi
Slide 41: Iron Drone Raider – Addressable Markets
Iron Drone Raider – Addressable Markets 41 Iron Drone Raider in Defense & HLS markets Detection RADIO FREQUENCY RADAR Systems CAMERAS ACOUSTIC PROJECTILE FIRE/ENERGY INTERCEPTING DRONES GPS/RADIO SPOOFING GPS/RADIO JAMMING Interception Systems LAW ENFORCEMENT CRITICAL INFRASTRUCTURE NATIONAL BORDERS
Slide 42: Iron Drone Raider SAM
Iron Drone Raider SAM Iron Drone Raider In Defense & HLS markets 1. Military Bases Protection: 2.5 Systems Per Base | 491 Relevant Bases (20%) 2. Military Combat Vehicles: 1 system per 20 vehicles | 118,000 vehicles (10%) 3. Military Naval Vessels: 1 System per vessel | 22,799 Naval vessels (30%) 4.
Slide 43: Iron Drone Raider SAM Specific serviceable potential
COMBINED $5.3B $2.2B NATIONAL LAND BORDERS MILITARY BASES $702M $360M CRITICAL FACILITIES $683M NATIONAL LAND BORDERS $887M MILITARY COMBAT VEHICLES $221M MILITARY BASES 354 M MILITARY NAVAL VESSELS Source: Management estimates. 43 Iron Drone Raider SAM Specific serviceable potential Iron Drone Raid
Slide 44: Global Defense Markets
Global Defense Markets Building a new prime military vendor ngagement ments; SOM (3) SAM (2) ALLIED NATIONS MARKET POTENTIAL (1) $600M $2.1B Iron Drone Revenue $800M $3.2B Optimus Revenue $1.4B $5.3B Total SOM (4) TAM INITIAL MILITARY MARKET POTENTIAL (1) $70M $350M Iron Drone Revenue $50M $500M Opt
Slide 45: OAS Marketing Strategies
Objective: Capture Programs Expand Programs OAS Marketing Strategies Operational Success - Led Expending market reach via governmental customer networks G2G/Customer Platforms Channel - Led Expanding market reach via network of agents and partners Partner Platforms Self - Led Expanding market reac
Slide 46: Iron Drone – The World Tour
Iron Drone – The World Tour High impact demonstrations establish Iron Drone as uniquely built - for - purpose, mission - ready CUAS solution World Tour Accelerates Customer Engagement • Awareness Igniting Global Demand Real - world demos drive customer adoption across defense, security, and critical
Slide 47: Expanding Ecosystem
Expanding Ecosystem Ecosystem supports localized technical integration, distribution and sustainment in critical markets 47
Slide 48: DMS Partnership
DMS Partnership Scaling production capacity and delivering fully NDAA - compliant, Made - in - America drone systems 48 • Strategic Highlights: • Made in America: Manufacturing via DMS’s Kinetyc facility in Michigan • NDAA - Compliant: Aligned with U.S. defense procurement standards • Scalable & Pro
Slide 49: Mistral Partnership
Mistral engaged to accelerate penetration in U.S. defense, HLS and public safety end markets Accelerate U.S. government adoption of autonomous drone platforms for the Iron Drone Raider & Optimus System across defense, homeland security, and public safety. • Partnership Roles: • Ondas Holdings / Amer
Slide 50: Financial Outlook
FINANCIAL OUTLOOK
Slide 51: The Scalable Growth Platform
The Scalable Growth Platform Fifi6fici6l model will defifie success • Emphasize growth via customer/ program capture and expansion • Focus on driving positive unit economics • Fund capital efficient operating platform to support high growth and operating leverage • Continue to maintain healthy balan
Slide 52: Multi-Stage Growth Plan
Multi - Stage Growth Plan Investment plan to support operational scale and drive platform adoption 2021 - 2024 DEVELOPMENT Platform and solutions development; commercialized solutions and demonstrated product market fit 2024 - 2026 SERVICE DELIVERY Establish scalable operating platform; focus on par
Slide 53: Growing Program Pipeline
Growing Program Pipeline Growing customer engagement with military as new, large end market 53 • Current Focus Markets / Customers • Military & Homeland security • Public Safety / DFR • Critical infrastructure operations • Critical industrial & technology assets • Emphasize program capture and expan
Slide 54: Customer / Program Pipeline
Customer / Program Pipeline Expand and mature customer opportunities • Expand programs with existing military and public safety customers in the Middle East for both Optimus & Iron Drone • Captured $39 million in OAS orders since Q3 2024 • Expect more orders throughout 2H 2025 • Advance new customer
Slide 55: American Robotics Update
American Robotics Update GTM gaining traction in the large U.S. markets 55 • Mistral to support acceleration of U.S. DoD, DHS , public safety and other governmental markets • Goal is to capture at least one DOD order by the end of 2025 • Expansive Replicator 2 DoD initiatives pursued on multiple fro
Slide 56: Illustrative Revenue Model
Illustrative Revenue Model Drone infrastructure buildout is likely a decade long investment cycle Capture Programs Expand Programs = Rapid Revenue Growth Note: Illustrative description of targeted revenue buildup, not to scale; does not include strategic growth via acquisitions or new platform devel
Slide 57: Financial Model
Financial Model Drive improving unit economics, drive operating leverage with growth and scale • Target gross margins • Optimus – 50% <> Iron Drone – 70% • Volume and DFM to support pricing/ margin objectives • Focus on maximizing operating capital efficiently • Engage capable partners to open marke
Slide 58: Revenue Outlook
Revenue Outlook Capital to support operational scale and drive platform adoption 58 Revenue Target Period $20 million 2025 $40 million 2026 Source: Management estimates OAS ONLY Key Financial Insights • Outlook for 2025 reflects conservative assumptions of backlog pull through • Expect defense, HLS
Slide 59: Cash Flow Outlook
Cash Flow Outlook Driving OAS to profitability and FCF realization 59 Capital Need (1)(2) Period $7 – 8 million 2H 2025 $14 – 15 million 2026 Expect FCF 2027 (1) Management estimates (2) Expect to access Klear for working capital support which would reduce capital required for current growth outlook
Slide 60: OAS Financial Outcome
OAS Financial Outcome Successful business plan execution creates a high growth, highly profitable global defense, security and intelligence company supported by two software - driven, proprietary unmanned dual - use aerial technology platforms and related services Source: Management estimates 2026 2
Slide 61: Strategic Growth
STRATEGIC GROWTH
Slide 62: Strategic Growth Plan
Strategic Growth Plan Acquisitions provide fuel for operational flywheel to drive capital efficient growth plan Org6fiic + Str6tegic Growth • Lead with high value, proven reliable autonomous platforms • Advance service delivery and scalable operating capabilities to drive organic growth • Pursue str
Slide 63: The Scalable Growth Platform
The Scalable Growth Platform Ondas has the vision, expertise and an executable plan to lead Potefiti6l rew6rds 6re subst6fiti6l • Massive TAMs in the $10s of billions • Growth cycle has launched (S - curve) • Military demand driving early adoption • Technology maturity underestimated • Regulatory pr
Slide 64: Market Needs Scale
“The emergifig defefise 6fid security m6rkets 6re overly fr6gmefited 6fid domifi6ted by sm6ll, subsc6le product developmefit comp6fiies who 6re typic6lly poorly c6pit6lized.” - Eric Brock, Ondas CEO 64 Market Needs Scale Customers, p6rtfiers, employees 6fid ifivestors fieed sc6led providers of pl6tf
Slide 65: Crossing The Valley
• Go - to - market led • Operational layers • Solutions portfolio • Growth capital • Growth PE | Public Oper6tifig Comp6fiy Techfiology | Service Delivery Crossing The Valley Crossing the Valley of Death requires operational scale; efficient use of operating capital is a challenge for single product
Slide 66: OAS Corporate Development Team
OAS Corporate Development Team Supported by internal and external technical experts, key customers, business partners and financial partners M6fi6gemefit • Sourcing / Pipeline • Diligence • Financial Analysis • Deal Negotiation • Investment Committee • Capital Plan • Board Communication • Integratio
Slide 67: Advisory Board
Growing coalition mobilizing to support Ondas’ mission Advisory Board Ondas plans to assemble a high impact Advisory Board in the near - term. High - Impact, Mission - Driven Advisors • Support Growth : Accelerate adoption of OAS drone platforms in defense, homeland security, and critical infrastruc
Slide 68: Transition to Rapid Growth
Transition to Rapid Growth Ondas operating platform designed to efficiently scale acquisitions WHO REQUIRES SCALE? • Large, critical customers • Vendors & Partners • Talent • Investors OPERATING PLATFORM • Sales & Marketing • Supply Chain & Production • Field Services & Sustainment • Broad Engineeri
Slide 69: Target Pipeline
Target Pipeline Active and mature target engagement Strategic / Financial Lens • Technology and service delivery mature; validated by customers • Expanded TAMs and SOMs • Clear opportunity for global distribution • Identified operating capital efficiencies 4 Diligence 25 Engaged 300+ Identified Targ
Slide 70: Roadmap & Criteria
Integrated Data Solutions Proprietary, AI - Enabled Capabilities Proven Israeli Defense - Tech Scaled Field Services Providers Autonomous Platforms ISR (Optimus) CUAS (Iron Drone) T6rget Oper6tifig Criteri6: 70 • Strong leadership / talent • Proven platform / service adoption • Sustained customer en
Slide 71: OAS Financial Outcome – Core + Strategic
OAS Financial Outcome – Core + Strategic Strategic acquisition program will broaden revenue streams and allowing scaled service delivery to customers, which also leads to significant operating leverage, higher levels of profitability and opportunities for multiple expansion 2026 2030 High Growth, Sc
Slide 72: Returns to Investors
Returns to Investors Compelling investment plan to create leading platform company in large, rapidly growing defense & security markets PATH TO 5X M6rket C6p (tod6y) ~ $350 million Growth --- - Core + Str6tegic M6rket C6p (t6rget) ~ $2.0 BILLION THREE - YEAR GOAL Deploy 5 major technology platforms
Slide 73: Q&A
www.ondas.com Q&A ERIC BROCK CHAIRMAN, CEO EITAN ROTBERG SVP PRODUCT & MARKETING MEIR KLINER FOUNDER & CEO TIM TENNE CEO NEIL LAIRD CHIEF FINANCIAL OFFICER OSHRI LUGASSY CO - CEO RONI KANELBAUM VP CORPORATE DEVELOPMENT