Ondas reports Q2 EPS (18c) vs. (27c) last year

Reports Q2 revenue $5.5M, consensus $4.27M. “Ondas continues to demonstrate accelerating growth, highlighted by record revenues of $5.5 million in the second quarter,” said Eric Brock, Ondas’ Chairman, CEO and President. “This momentum has allowed us to strengthen our balance sheet with $25 million in growth capital from private and institutional investors. We believe Ondas is well positioned to continue driving adoption of our platform technologies across both Ondas Networks and Ondas Autonomous Systems and ramp production to fulfill expected order growth over the next twelve to eighteen months. At Ondas Networks, we had another record revenue quarter driven by shipments for customers. We are working actively with Siemens and the Class I Rails to further prepare for large-scale commercial deployments at 900 MHz. This activity is driving a growing order pipeline, and despite some recent production bottlenecks, we believe we are ready to deliver against an expected increase in customer demand. OAS also recorded record revenues while continuing to demonstrate leadership with customers as we define solutions around public safety, drone as a first responder and smart city use cases. In addition to our activity in the United Arab Emirates, we have created new opportunities internationally which are highlighted by the recent announcements of our entrance into both India with our partner Aero A2Z and the Kingdom of Saudi Arabia via a strategic alliance with Saudi Excellence. We are also making significant progress in bringing the Optimus System to US markets, as evidenced by our recent announcements with MassDOT Aeronautics and Skyfire Consulting. Our customer pipeline is growing in all key verticals and globally.”