Slide 1: Third Quarter 2025 Earnings Release
Nasdaq: ONDS Third Quarter 2025 Earnings Release Nasdaq : ONDS NASDAQ: ONDS | November 13, 2025 1 Copyright 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 Eric Brock Neil Laird Oshri Lugassy Meir Kliner Markus Nottelmann CHAIRMAN, CEO CFO CO-CEO PRESIDENT CEO Founder of Ondas with over 25 Veteran finance executive with 25 Defense and technology Meir is an entrepreneur with over Technology and operations years of leadership
Slide 4: Agenda
Nasdaq: ONDS Agenda • Introduction • Financial Review • Business Update • Ondas Networks • Ondas Autonomous Systems (OAS) • Outlook & Closing Remarks • Q&A 4
Slide 5: Ondas is Positioned for Success
Nasdaq: ONDS Ondas is Positioned for Success Executing our growth plan • Autonomy markets at inflection point • Demonstrating platform adoption with Iron Drone and Optimus • Launched our Core + Strategic Growth Plan • Capital position supports shareholder value acceleration DELIVERING THE PLAN WE SA
Slide 6: Overview
Nasdaq: ONDS Overview Momentum continues in Q3—Record year achieved • Advancing multi-year growth plan; reported record results for Q3 • Generated $10.1 million in revenue in Q3 2025, a 582% increase from Q3 2024 • Consolidated backlog(1) was $23.3 million at Q3 2025, vs $10.0 million entering 2025
Slide 7: Executing Strategic Roadmap
Nasdaq: ONDS Executing Strategic Roadmap Broadening solutions; scaling our operating platform • Expanding the core OAS operational platform • Seasoned executive leadership across disciplines • Impactful, multi-discipline Advisory Board • Advancing ecosystem partnerships across: • Technology platform
Slide 8: Ondas Capital
Nasdaq: ONDS Ondas Capital A strategic growth platform Global Footprint Ondas Capital is a multi-year initiative to deploy $150 million to accelerate the transition of Anchored in the U.S. with forward offices in key battle-tested unmanned and dual-use technologies from Ukraine and allied nations in
Slide 9: Financial Review
Nasdaq: ONDS FINANCIAL REVIEW NASDAQ: ONDS | November 13, 2025 Third Quarter 2025 Earnings Release Copyright 2025. All rights reserved. 9
Slide 10: Financial Review
Nasdaq: ONDS Financial Review Q3 2025 KEY FINANCIAL INSIGHTS: SELECT P&L DATA Three Months Ended September 30, • Revenue growth reflects strong demand for (Unaudited) 2025 2024 autonomous, unmanned platforms • Gross profit remains variable due to low Revenues, net $ 10,098,310 $ 1,480,792 volumes an
Slide 11: Financial Review
Nasdaq: ONDS Financial Review KEY FINANCIAL INSIGHTS: Q3 2025 • Cash balance of $433.4 million • Cash used in operating activities flat year-on-year SELECT CASH FLOW DATA Nine Months Ended September 30, (Unaudited) 2025 2024 • Cash used in investing activities includes strategic minority investments
Slide 12: Balance Sheet
Nasdaq: ONDS Balance Sheet KEY FINANCIAL INSIGHTS: Q3 2025 • Cash position reflects the equity offerings and SELECT BALANCE SHEET DATA Sept. 30, 2025 Dec. 31, 2024 warrant exercises (Unaudited) • Holdings convertible debt eliminated July 2025 ASSETS • $9.5 million outstanding convertible debt at Cas
Slide 13: Ondas Networks
ONDAS
Slide 14: 802.16t Acceptance Broadening
Nasdaq: ONDS 802.16t Acceptance Broadening Deploying dot16-enabled 160 MHz networks to address significant industry needs dot16 enables massive capacity increases for legacy networks • AAR's Wireless Communications Committee announced that dot16 will be the wireless platform for all new deployments
Slide 15: Execution and Outlook
Nasdaq: ONDS Execution and Outlook NEC Corridor and Indian radios entering shipping in Q4 • Northeast Corridor ACSES radios for Amtrak will start shipping during Q4 • We expect initial deliveries for Siemens India Head-of-Train radios to commence with the next few months • Next Generation Head-of-Tr
Slide 16: Autonomous Systems
AUTONOMOUS SYSTEMS
Slide 17: Vision
Nasdaq: ONDS VISION OAS is positioned to shape the future of defense and security - delivering autonomous, unmanned and connected systems that power mission-critical operations worldwide. We are building the infrastructure of resilience and intelligence that governments and industries trust to prote
Slide 18: OAS Highlights
Nasdaq: ONDS OAS Highlights Record-high revenue – expanding OAS as a multi-domain defense and security firm • Generated record high revenues of $10 million during Q3 2025 • OAS backlog has grown to $22.2 million at Q3 2025 • OAS backlog stands at $40.4 million including closed/pending acquisitions i
Slide 19: Strategic Growth Program
Nasdaq: ONDS Strategic Growth Program Value creation through faster growth, operating Technology scale and an accelerated path to profitability Platforms • Unified “Systems of Systems” architecture fusing ISR, counter-UAS, robotics, and sensing into scalable, autonomous defense solutions C-UAS Paylo
Slide 20: Building the Scaled OAS Platform
Nasdaq: ONDS Building the Scaled OAS Platform 20
Slide 21: Scaling OAS' Operating Platform
Nasdaq: ONDS Scaling OAS’ Operating Platform Enhancing talent and expanding ecosystem for operational scale • Integrating OAS Core, acquisitions, new leadership and operational talent, and partners into a unified operating platform GO-TO-MARKET • Strengthening go-to-market through aligned sales team
Slide 22: Systems of Systems in Motion
Nasdaq: ONDS Systems of Systems in Motion Integrating complementary companies and technology platforms; Expanding multi-domain technology offering AUTONOMOUS PLATFORMS SENSORS C-UAS PAYLOADS COMMUNICATIONS Note: Sentrycs acquisition is expected to close in November 2025 22
Slide 23: Transforming Airspace Security through Passive, Intelligent Drone Control
Nasdaq: ONDS Transforming Airspace Security through Passive, Intelligent Drone Control • Cyber-over-RF (CoRF) Platform – Proprietary protocol-manipulation technology that listens, decodes, and communicates directly with hostile drones — identifying both drone and operator and safely assuming control
Slide 24: Established Global Position
Nasdaq: ONDS Established Global Position Expands Global Reach to Tier-1 Defense, Public Safety, and Security Agencies Protecting Critical Infrastructure Across 25+ Countries 24% YTD Growth (18 deployments) Europe 91% • 13 x Countries YTD Growth (31 new deployments)) • 74 x Deployments North America
Slide 25: Unique Market Position
Nasdaq: ONDS Unique Market Position Securing borders, cities, and critical infrastructure with intelligent, scalable counter-UAS defense Soft Kill Radio controlled drones • Cyber-over-RF (CoRF) by Sentrycs – Passive, protocol-manipulation layer providing early detection, identification, and remote t
Slide 26: Counter UAS Market Opportunity
Nasdaq: ONDS Counter UAS Market Opportunity C-UAS market is poised for a significant, Key C-UAS market data points multi-year growth boom • Rapidly growing global demand for C-UAS technology $10.5 B market by 2030 Global C-UAS Market Size (USD Million) • Large U.S. and Europe poised for significant
Slide 27: Outlook
Nasdaq: ONDS OUTLOOK NASDAQ: ONDS | November 13, 2025 Third Quarter 2025 Earnings Release Copyright 2025. All rights reserved. 27
Slide 28: Strategic Growth Program
Nasdaq: ONDS Strategic Growth Program A multi-year opportunity with urgent requirements M&A Pipeline • Drives faster revenue growth through strategic acquisitions +20 • Enables more efficient use of operating capital • Delivers operating margin leverage across the platform Advanced Activity • Leads
Slide 29: Updated Outlook
Nasdaq: ONDS Updated Outlook Demonstrating upside to our financial model Previous 2025 Revenue Target • Upside to new revenue targets demonstrate growth acceleration $25 Million • Expect to continue to advance strategic acquisition program • Expect to capture an initial US defense or homeland securi
Slide 30: Shareholder Value Creation
Nasdaq: ONDS Shareholder Value Creation Financial and operating models designed to generate high returns for investors Deploy Growth Capital High Revenue Growth Broadening Platform Solutions + + Operating Capital Efficiency Customer Capture = = Premium Valuation Accretive M&A Drive Operating Scale 3
Slide 31: Q&A
Q&A NASDAQ: ONDS | November 13, 2025 Third Quarter 2025 Earnings Release Copyright 2025. All rights reserved.
Slide 32: 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 presentation to the most directly comparable measures un
Slide 33: Appendix
Nasdaq: ONDS Appendix ADJUSTED EBITDA RECONCILIATION Three Months Ended September 30, (Unaudited) 2025 2024 Net Loss $ (7,480,856) $ (9,526,268) Depreciation Expense 195,954 190,332 Other Income (Expense), net (8,330,150) 865,553 Amortization of Intangible Assets 1,086,692 1,056,141 Provision for In
Slide 34: Thank You
THANK YOU NASDAQ: ONDS | November 13, 2025 Copyright 2025. All rights reserved. Nasdaq : ONDS