American Robotics Dad or mum Firm Ondas Holdings Q1

American Robotics Parent Company Ondas Holdings First Quarter

Supply: American Robotics

American Robotics Dad or mum Firm Ondas Holdings Declares First Quarter Earnings

Ondas Holdings Inc., by way of its subsidiaries, Ondas Networks and American Robotics (“AR”), is a supplier of personal wi-fi, drone, and automatic knowledge options. The corporate introduced its first quarter outcomes on Could 11, 2022.

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Key figures within the announcement:

  • Income for the primary quarter was $400k in comparison with $1.2 million for the three months ended March 31, 2021.
  • Gross margin was 29.8% in comparison with 52.3% in Q1 2021.
  • Web loss was round $10 million in comparison with a $3.1 million loss in Q1 2021.
  • Money stability on the finish of March was $32.1 million.

Ondas famous that the revenues and bills replicate enterprise growth exercise in preparation for bigger industrial roll outs that they anticipate sooner or later. They reaffirmed their 2022 monetary outlook of no less than $20 million in bookings for Ondas Networks, and orders for no less than 30 Scout Programs for American Robotics. American Robotics can also be concentrating on no less than one buyer reorder for fleet deployments by the tip of the 12 months.

Highlights in the course of the quarter:

  • Delivered the second 900 MHz launch order from Siemens for a Class I railroad.
  • Acquired a purchase order order from Chevron Company.
  • Acquired a purchase order order from Scotts Miracle-Gro Firm.
  • Introduced seven further automated BVLOS website approvals from the FAA to deploy Scout Programs, bringing the overall portfolio to 10 websites throughout eight U.S. states.
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“American Robotics is in an thrilling interval of progress, as we’re effectively on our technique to scaling of operations en path to fleet deployments throughout the USA,” mentioned representatives on the earnings name.  “Enterprise growth is on observe with each Ondas Networks and American Robotics, and we anticipate to construct momentum with buyer buy orders all year long.”

Ondas Holdings [NASDAQ:ONDS] is likely one of the holdings within the AdvisorShares Drone Know-how ETF [NYSE ARCA:UAV], the one ETF devoted to the drone financial system. The AdvisorShares Drone Know-how ETF is a thematic funding technique looking for to seize the expansion alternatives in drones and autonomous automobiles (AV).

AdvisorShares is a DRONELIFE sponsor.

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