Ondas Inc · NASDAQ:ONDS
Ondas — Q1 2025 Earnings Presentation
25 slides from Ondas's earnings presentation, May 15, 2025
Slide 1: First Quarter 2025 Earnings Release
First Quarter 2025 Earnings Release Nasdaq : ONDS NASDAQ: ONDS | May 15, 2025 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 Oshri Lugasi CHAIRMAN & CEO Co-CEO Eric is an entrepreneur with over 25 years of Oshri is a defense and technology leader with management and investing experience. decades of experience in autonomous systems, global business development, and military command.
Slide 4: Agenda
Nasdaq: ONDS Agenda • Introduction • Financial Review • Business Update • Ondas Networks • Ondas Autonomous Systems (OAS) • Closing Remarks • Q&A 4
Slide 5: Overview
Nasdaq: ONDS Overview Strong start to 2025—Record year expected • Multi-year growth plan launched; reiterate target for at least $25 million in revenue for 2025 • OAS delivering on and expanding existing customer programs • Iron Drone operational in live combat with initial military customer • Optim
Slide 6: Financial Review
Nasdaq: ONDS FINANCIAL REVIEW NASDAQ: ONDS | May 15, 2025 First Quarter 2025 Earnings Release Copyright 2025. All rights reserved. 6
Slide 7: Financial Review
Nasdaq: ONDS Financial Review Q1 2025 SELECT P&L DATA Three Months Ended March 31, KEY FINANCIAL INSIGHTS: (Unaudited) 2025 2024 • P&L reflects early stage of initial platform Revenues, net $ 4,248,182 $ 625,009 Cost of goods sold 2,759,632 1,019,991 adoption for OAS and Ondas Networks Gross profit
Slide 8: Financial Review: Cash Flow
Nasdaq: ONDS Financial Review Q1 2025 SELECT CASH FLOW DATA Three Months Ended March 31, KEY FINANCIAL INSIGHTS: (Unaudited) 2025 2024 • Cash balance of $25.4 million compared Net cash used in operating activities $ (6,659,264) $ (7,455,524) to $14.6 million a year ago is the result Net cash provide
Slide 9: Balance Sheet
Nasdaq: ONDS Balance Sheet Q1 2025 SELECT BALANCE SHEET DATA Mar. 31, 2025 Dec. 31, 2024 KEY FINANCIAL INSIGHTS: (Unaudited) ASSETS • Convertible Debt – Holdings reduced by Cash and Restricted Cash $ 25,409,974 $ 29,999,321 $19.2 million to $25.4 million at end of Q1 2025 Total Assets $ 104,600,639
Slide 10: Additional Financial Information
Nasdaq: ONDS Additional Financial Information KEY FINANCIAL INSIGHTS: Discussion on shares related to debt conversions Shares Outstanding Rollforward • Shares issued upon conversion of convertible notes includes unamortized Shares Outstanding as of 12/31/24 93,173,191 discounts and accrued interest
Slide 11: Ondas
ONDAS
Slide 12: Next Generation Head-of-Train / End-of-Train
Nasdaq: ONDS Next Generation Head-of-Train / End-of-Train AAR’s Wireless Communications Committee selects dot16 • AAR’s Wireless Communications Committee announced selection of IEEE 802.16t DPP as the communications protocol for future NGHE devices • Selection made after a rigorous technical evaluat
Slide 13: IEEE Ratifies 802.16t ("dot16")
Nasdaq: ONDS IEEE Ratifies 802.16t (“dot16”) New Era for Rail and Industrial Wireless Connectivity • Ondas Networks played a central role in the conception and development of IEEE 802.16t • Key support for the development of the standard came from Class 1 railroads • IEEE 802.16t offers a standards-
Slide 14: Strategy and Execution
Nasdaq: ONDS Strategy and Execution Engaging railroads on communications challenges • Continuing to support 900 MHz system deployments • Migration of multiple networks to new 900 MHz A-Block for primary use • Metra placed follow-on order for 900 MHz equipment to complete systemwide coverage • After
Slide 15: Autonomous Systems
AUTONOMOUS SYSTEMS Sa IRON 2 AMERICAN AIR@BOTICS DRONE RR erosorics
Slide 16: OAS Highlights
Nasdaq: ONDS OAS Highlights Momentum continues with strong start to 2025 • Generated $4.0 million in revenues for Q1 2025; captured $9.3 million in orders YTD • Secured funded development program with defense vendor partner to enhance Iron Drone Raider for countering ground-based threats • Captured
Slide 17: Iron Drone Raider TAM / Optimus System TAM
Nasdaq: ONDS Iron Drone Raider TAM Optimus System TAM Specific Potential Iron Drone Raider Specific Potential Optimus System In Defense & HLS Markets In Defense & HLS Markets $221M MILITARY $360M BASES CRITICAL FACILITIES $683M NATIONAL LAND BORDERS $702M COMBINED TAM MILITARY BASES $887M $5.3B MILI
Slide 18: OAS Outlook
Nasdaq: ONDS OAS Outlook OAS leverages growing investments in defense, homeland security and public safety capabilities • Significant inbound interest in Iron Drone CUAS platform • Demand surging globally for multi-layered CUAS security • Iron Drone uniquely built for purpose / combat ready as low-
Slide 19: Outlook
Nasdaq: ONDS OUTLOOK NASDAQ: ONDS | May 15, 2025 First Quarter 2025 Earnings Release Copyright 2025. All rights reserved. 19
Slide 20: Outlook for 2025
Nasdaq: ONDS Outlook for 2025 Positioned for a record year in 2025 Revenue Target New Military / Expanded Programs HLS Customers $25 Million 4 Expanded Customer Base Deliver Current Backlog New Industry Expanded Partner Ecosystem Partnerships $16.8 Million 4 Growing Operational Scale Note: Financial
Slide 21: Final Comments
Nasdaq: ONDS Final Comments Positioned for a record year in 2025 • Wish Joe Popolo well as he transitions to public service as the nominee to be US Ambassador to the Kingdom of the Netherlands • Intend to maintain healthy balance sheet to fund growth plan • Registration statement for shelf filing pr
Slide 22: Q&A
Q&A NASDAQ: ONDS | May 15,, 2025 First Quarter 2025 Earnings Release Copyright 2025. All rights reserved.
Slide 23: Appendix
Appendix ADJUSTED EBITDA RECONCILIATION Three Months Ended March 31, (Unaudited) 2025 2024 Net Loss $ (14,136,350) $ (9,876,084) Depreciation Expense 180,709 123,071 Other Expense, net(1) 3,825,912 748,889 Amortization of Intangible Assets 1,061,869 1,052,211 Stock-based Compensation 1,572,645 269,5
Slide 24: Non-GAAP Financial Measures
Nasdaq: ONDS Non-GAAP Financial Measures As required by the rules of the Securities and Exchange Commission (“SEC”), we provide reconciliations of Earnings (Loss) before interest, depreciation, amortization, stock-based compensation and taxes (“Adjusted EBITDA”) and cash operating expenses, the non-
Slide 25: Thank You
Nasdaq: ONDS THANK YOU NASDAQ: ONDS | May 15, 2025 Copyright 2025. All rights reserved. Nasdaq : ONDS 25