Ondas Holdings reduces debt by over 50%

Published 28/04/2025, 12:34
Ondas Holdings reduces debt by over 50%

In a recent SEC filing, Ondas Holdings Inc., a Nevada-based company specializing in radio and TV broadcasting and communications equipment, reported a significant reduction in its debt. As of April 25, 2025, the company has decreased its total outstanding principal and accrued interest from approximately $46.2 million at the end of 2024 to around $21.1 million. According to InvestingPro data, the company’s total debt stood at $60.64 million at the end of 2024, with a concerning debt-to-equity ratio of 3.66x and current ratio of 0.94x, indicating potential liquidity challenges.

The filing, dated today, April 28, 2025, detailed that all Exchange Notes, previously issued as part of a debt restructuring, have been settled and are no longer outstanding. This settlement is in line with the company’s strategy to manage its financial obligations and streamline its capital structure.

Ondas Holdings had issued several series of 3% Senior Convertible Notes with varying principal amounts and maturity dates, including Exchange Notes maturing today. The company successfully exchanged these for new notes on a dollar-for-dollar basis, which contributed to the reduction of its debt load.

This financial maneuvering reflects Ondas Holdings’ efforts to optimize its balance sheet and reduce financial liabilities. The company’s actions have resulted in a more than 50% decrease in net debt, accounting for unamortized debt discount and issuance costs.

Investors and market observers may view this development as a positive step towards improving the company’s financial health. The SEC filing provides a transparent account of Ondas Holdings’ financial activities and obligations, underscoring its commitment to prudent financial management.

The information in this article is based on a press release statement filed with the SEC.

In other recent news, Ondas Holdings Inc. reported its financial results for the fourth quarter of 2024, revealing a revenue of $4.1 million, which fell short of the $5.75 million forecast. The full-year revenue was $7.2 million, marking a significant 54% decrease year-over-year. Despite these challenges, Ondas Holdings announced a $3.2 million purchase order from the United Arab Emirates to enhance its urban autonomous drone infrastructure. This order is part of the UAE’s initiative to establish a network of autonomous drones for public safety and emergency response. Additionally, the company has adjusted the deadlines for shareholder proposals and director nominations for its 2025 annual meeting, now scheduled for May 12, 2025. Ondas Holdings also announced a strategic partnership with Palantir Technologies (NASDAQ:PLTR), which will initially focus on integrating Palantir’s Foundry AI platform to enhance operational efficiency. Looking forward, the company projects a total revenue of $25 million for 2025, with significant contributions expected from its Ondas Autonomous Systems segment.

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