Exhibit 99.7

UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATION

On August 4, 2022, Ondas Holdings, Inc. (the “Company”) entered into a Plan of Merger and Equity Purchase Agreement (the “Agreement”) with Airobotics Ltd., an Israeli publicly traded company limited by shares.

Airobotics Ltd collects, analyses, and accesses information automatically using a UAV (“unmanned aerial vehicle” — multi-motor drone). Airobotics Ltd has developed systems that include data collection and data processing for valuable insights for customers, in an automated process, which does not require human contact and without human intervention, and provides its customers with end-to-end service, which enables the extraction of value from data collected from the airspace using an automated UAV, automatically, quickly, safely, and efficiently.

Pursuant to the Agreement, in exchange for every share of stock, warrant or option to purchase stock held by Airobotics Stockholders, Airobotics Ltd. Stockholders received 0.16806 shares of the Company’s stock, which included (i) 2,824,995 shares of the Company’s common stock; (ii) options exercisable for 1,087,706 shares issued under the Company’s incentive stock plan, of which 661,428 shares are vested; (iii) warrants exercisable for 588,430 shares of the Company’s common stock. Also, on September 20, 2022, the Company and Airobotics Ltd. entered into a Credit and Guaranty Agreement pursuant to which the Company has agreed to make a revolving loan available to Airobotics Ltd., commencing from October 3, 2022, in a principal amount of up to $1,500 thousand (the “Bridge Loan”). Amounts borrowed may be prepaid without penalty and reborrowed. The loan will accrue interest at a rate of 6% per annum and matures on the earlier to occur of February 1, 2023 and the termination of the Merger Agreement as a result of a breach or violation thereof by Airobotics Ltd. The Bridge Loan is secured by substantially all of the assets of Airobotics Ltd. In addition, Airobotics Inc., a subsidiary of Airobotics Ltd, has guaranteed its obligations under the Bridge Loan.

The following unaudited pro forma condensed combined financial statements are based on the Company’s audited and unaudited interim historical consolidated financial statements and Airobotics Ltd.’s audited historical and unaudited interim financial statements as adjusted to give effect to the Company’s acquisition of Airobotics Ltd. The unaudited pro forma condensed combined balance sheet as of June 30, 2022 gives effect to these transactions as if they occurred on June 30, 2022. The unaudited pro forma condensed combined statements of operations for the twelve months ended December 31, 2021 and the six months ended June 30, 2022 give effect to these transactions as if they occurred on January 1, 2021.

The unaudited pro forma condensed combined financial statements should be read together with the Company’s audited historical financial statements, which are included in the Company’s most recent Annual Report on Form 10-K, which was filed with the Securities and Exchange Commission on March 22, 2022, and the most recent Quarterly Report on Form 10-Q, which was filed with the Securities and Exchange Commission on August 9, 2022, and Airobotics Ltd.’s audited historical financial statements as of and for the year ended December 31, 2021 and unaudited financial statements as of and for the six months ended June 30, 2022 included in this report.

The unaudited pro forma combined financial information is provided for informational purpose only and is not intended to represent or be indicative of the consolidated results of operations or financial position that the Company would have reported had the Airobotics Ltd transaction closed on the dates indicated and should not be taken as representative of our future consolidated results of operations or financial position.

The pro forma adjustments related to the Agreement are described in the notes to the unaudited pro forma combined financial information and principally include the following:

•        Pro forma adjustment to eliminate the Airobotics Ltd liabilities and owners’ equity not acquired.

•        Pro forma adjustment to record the merger of the Company and Airobotics Ltd.

The adjustments to fair value and the other estimates reflected in the accompanying unaudited pro forma condensed consolidated financial statements may be materially different from those reflected in the combined company’s consolidated financial statements subsequent to the merger. In addition, the unaudited pro forma condensed combined financial statements do not purport to project the future financial position or results of operations of the combined companies. Reclassifications and adjustments may be required if changes to Airobotics Ltd.’s financial presentation are needed to conform Airobotics Ltd.’s accounting policies to the accounting policies of Ondas Holdings, Inc.

These unaudited pro forma condensed combined financial statements do not give effect to any anticipated synergies, operating efficiencies or cost savings that may be associated with the Agreement. These financial statements also do not include any integration costs the companies may incur related to the Transactions as part of combining the operations of the companies.

ONDAS HOLDINGS INC.
PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except par value)

As of June 30, 2022
(Unaudited)

		Ondas Holdings Inc.				Airobotics Ltd. under IFRS				Adjustments to GAAP and Reclassifications				Transaction Accounting Adjustments				Notes		Pro Forma Consolidated
ASSETS
Current Assets:
Cash and cash equivalents		$	28,014			$	2,849			$	—			$	(1,500	)		C		$	29,363
Restricted cash			—				57				—				—						57
Accounts receivable, net			265				356				—				—						621
Inventory, net			1,270				1,126				84				—			1			2,480
Other accounts receivable			—				307				(307	)			—			10			—
Other current assets			1,460				—				307				—			10			1,767
Total current assets			31,009				4,695				84				(1,500	)					34,288
Long-term Assets:
Property and equipment, net			3,518				2,772				—				—						6,290
Intangible assets, net			30,205				15				—				3,931			A			34,151
Goodwill			45,027				—				—				7,863			A			52,890
Lease deposits			218				—				—				—						218
Long-term equity investment			500				—				—				—						500
Right-of-use-assets			—				508				(508	)			—			10			—
Operating lease right of use assets			3,443				—				508				—			10			3,951
Long-term deposits			—				46				—				—						46
Total long-term assets			82,911				3,341				—				11,794						98,046
Total assets		$	113,920			$	8,036			$	84			$	10,294					$	132,334
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable		$	2,376			$	85			$	—			$	—					$	2,461
Lease liability			—				309				(309	)			—			11			—
Operating lease liabilities			812				—				309				—			11			1,121
Loan from related party			—				1,043				—				—						1,043
Accrued transaction costs			—				—				—				1,701			B			1,701
Other payables			—				1,281				(1,281	)			—			11			—
Accrued expenses and other current liabilities			1,812				—				1,281				—			11			3,093
Government grant liability			—				78				(78	)			—			2			—
Deferred revenue – current			200				—				—				—						200
Total current liabilities			5,200				2,796				(78	)			1,701						9,619
Long-Term Liabilities:
Notes payable, net of current portion			300				—				—				—						300
Government grant liability, net of current portion			—				1,528				78				—			2			1,606
Accrued interest			38				—				—				—						38
Lease liability, net of current portion			—				223				(223	)			—			11			—
Operating lease liabilities – net of current portion			2,685				—				223				—			11			2,908
Total long-term liabilities			3,023				1,751				78				—						4,852
Total liabilities			8,223				4,547				—				1,701						14,471
Stockholders’ Equity:
Common stock – par value $0.0001			4				—				—				—						4
Ordinary share capital			—				52				—				(52	)		D			—
Share premium and reserves			—				150,331				—				(150,331	)		D			—
Additional paid in capital			207,368				—				—				13,867			C			221,235
Foreign currency translation reserve			—				(2	)			—				2			D			—
Accumulated deficit			(101,675	)			(146,892	)			84				145,107			1, B, D			(103,376	)
Total stockholders’ equity			105,697				3,489				84				8,593						117,863
Total liabilities and stockholders’ equity		$	113,920			$	8,036			$	84			$	10,294					$	132,334

ONDAS HOLDINGS INC.
PRO FORMA CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except share amounts, and per share amounts)

For the Six Months Ended June 30, 2022

(Unaudited)

		Ondas Holdings Inc.				Airobotics Ltd. under IFRS				Adjustments to GAAP and Reclassifications				Transaction Accounting Adjustments				Notes		Pro Forma Consolidated
Revenues, net		$	1,014			$	544			$	—			$	—					$	1,558
Cost of goods sold			573				1,299				218				—			1, 4			2,090
Gross profit (loss)			441				(755	)			(218	)			—						(532	)
Operating expenses:
General and administration			11,615				1,646				54				197			3, A			13,512
Sales and marketing			1,413				1,104				—				—						2,517
Research and development			8,778				2,103				—				—						10,881
Other expense (income)			—				287				(287	)			—			10			—
Total operating expenses (income)			21,806				5,140				(233	)			197						26,910