Ondas Holdings Reports 480% Revenue Growth to $4.25 Million in Latest Quarter

Ondas Holdings Inc. reported significant financial growth in its latest quarterly results, with revenues reaching $4.25 million for the three months ended March 31, 2025, compared to just $625,000 in the same period last year. This represents an increase of approximately 480%, driven primarily by a surge in product sales and service revenues from its Ondas Autonomous Systems (OAS) segment, which accounted for $4.02 million of total revenue. The company’s gross profit for the quarter was $1.49 million, a substantial improvement from a gross loss of $395,000 in the prior year.

Despite the revenue growth, Ondas Holdings reported an operating loss of $10.31 million, up from a loss of $9.13 million in the previous year. The increase in operating loss was attributed to a rise in total operating expenses, which climbed to $11.80 million from $8.73 million. Notably, general and administrative expenses surged by $2.01 million, reflecting increased staffing and stock-based compensation costs. The company also faced higher sales and marketing expenses, which rose by $1.11 million as it expanded its market presence.

In terms of operational metrics, Ondas Holdings has made strategic advancements, including the successful launch of its FullMAX platform, which enhances wireless connectivity for mission-critical applications. The company has also expanded its customer base, with significant sales to major clients in the defense and critical infrastructure sectors. As of March 31, 2025, the company had 127.7 million shares of common stock outstanding, a notable increase from 93.2 million shares at the end of 2024, reflecting its ongoing capital-raising efforts.

The company’s balance sheet shows total assets of $104.6 million, down from $109.6 million at the end of 2024, primarily due to a decrease in cash and accounts receivable. Ondas Holdings reported cash and restricted cash of approximately $25.41 million, down from $29.99 million at the end of the previous year. The company’s liabilities also decreased significantly, from $73.7 million to $58 million, largely due to the repayment of certain convertible notes and other debt obligations.

Looking ahead, Ondas Holdings expressed uncertainty regarding its ability to continue as a going concern, citing substantial doubt about its funding plans. The company plans to rely on cash reserves, revenue growth, and potential equity or debt offerings to support its operations over the next twelve months. Management emphasized the need to secure additional financing to sustain its growth trajectory and meet operational demands, particularly as it continues to navigate the challenges posed by market conditions and ongoing geopolitical tensions affecting its operations in Israel.