- Wireless networks and commercial drone and automated data solutions company Ondas Holdings ( NASDAQ: ONDS ) said it expects Q4 revenue of ~$2.1M, vs. consensus of $1.56M.
- FY22 adjusted EBITDA loss is estimated to be ~$39.5M to $40.5M.
- The company ended the year with $29.8M of cash and outstanding convertible notes, net of debt discount equal to $30M.
- Ondas said it entered 2023 with a backlog of ~$12.9M, representing purchase orders from the units, Ondas Networks and Ondas Autonomous Systems.
- For FY23, the company expects revenue of between $26M and $30M, vs. consensus of $24.91M.
- Adjusted EBITDA loss is expected to be ~ between $19M and $24M.
- The company is set to report Q4 and FY22 results in March.
- Additionally, ONDS is forming a new business unit to manage the combined drone operations of wholly-owned subsidiaries, American Robotics and Airobotics.
- The new unit is called Ondas Autonomous Systems.
- Airobotics CEO Meir Kliner will assume the role of CEO of the new unit.
- Also, American Robotics CEO Reese Mozer has been appointed president of Ondas.
- Derek Reisfield, who has served as Ondas' president, will remain CFO, treasurer and secretary of Ondas.
- Additionally, American Robotics CTO Vijay Somandepalli has been named vice president of technical strategy at Ondas.
- ONDS shares were trading +0.99% pre-market.
- Source: Press Release
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Ondas Holdings expects Q4 revenue above consensus