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BOSTON - Ondas Holdings Inc. (NASDAQ:ONDS), a provider of private industrial wireless and drone solutions with a market capitalization of $113 million, has received a $3.2 million purchase order from the United Arab Emirates (UAE). The company’s stock has shown significant momentum, gaining over 20% in the past week, according to InvestingPro data. This investment is aimed at enhancing the UAE’s urban autonomous drone infrastructure, part of its Safe and Smart City initiatives.
The UAE’s "Drone Box" program, underpinned by Ondas’ Optimus System, seeks to establish a network of autonomous drones ready to respond to public safety and emergency situations within seconds. The Optimus System has been operational in the UAE, where it has already conducted thousands of flights, contributing to the country’s emergency response capabilities.
The additional Optimus Systems supplied under this order will include autonomous drones, smart airbases, and advanced command-and-control software. These are specifically designed for urban areas and strategic facilities that require quick security, monitoring, and emergency response. The drones are capable of a wide range of missions, thanks to interchangeable payloads and sensors, with all operations managed remotely from a centralized command center.
Ondas’ technology enables drones to autonomously launch, land, recharge, and swap payloads without human intervention, ensuring continuous aerial coverage over areas up to 30 square miles from a single airbase. This capability has been in place since 2021.
This new order solidifies Ondas’ global position in the homeland security, public safety, and defense markets, aligning with the company’s strategy to deliver critical autonomous technology to government and private sector clients worldwide. While the company’s last twelve months revenue stands at $7.19 million with a modest gross margin of 4.8%, InvestingPro analysts anticipate sales growth in the current year.
Ondas Holdings comprises Ondas Networks, which develops proprietary wireless broadband technology, and Ondas Autonomous Systems, which offers autonomous drone solutions through its subsidiaries American Robotics and Airobotics. Ondas’ solutions cater to a range of mission-critical applications across various sectors, including defense, homeland security, public safety, and critical infrastructure.
The information for this report is based on a press release statement.
In other recent news, Ondas Holdings Inc. reported its financial results for the fourth quarter of 2024, revealing a revenue shortfall. The company posted $4.1 million in revenue for the quarter, missing the forecasted $5.75 million and marking an 18% year-over-year decline. For the full year, revenue totaled $7.2 million, representing a significant 54% decrease from the previous year. Despite these challenges, Ondas Holdings projects a revenue increase to $25 million for 2025, with expectations of significant contributions from its OAS segment. The company plans to continue investing in AI and autonomous technologies while expanding its presence in military and homeland security markets.
In other developments, Ondas Holdings announced changes to its shareholder proposal and director nomination deadlines for the 2025 annual meeting, now set for April 4, 2025. This update is crucial for shareholders aiming to influence the board’s composition or propose company actions. The company also highlighted a new strategic partnership with Palantir Technologies, aiming to leverage Palantir’s Foundry AI platform to enhance operational efficiencies. These recent developments are part of Ondas Holdings’ efforts to address its financial performance and strategic growth initiatives.
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