Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.24.2.u1
Segment Information
6 Months Ended
Jun. 30, 2024
Segment Information [Abstract]  
SEGMENT INFORMATION

NOTE 12 – SEGMENT INFORMATION

 

Operating segments are defined as components of an entity for which discrete financial information is available and is regularly reviewed by the Chief Operating Decision Maker (“CODM”) in making decisions regarding resource allocation and performance assessment. The Company’s CODM is its Chief Executive Officer. The Company determined it has two reportable segments, Ondas Networks and OAS, as the CODM reviews financial information for these two businesses separately. The Company has no inter-segment sales. The following table presents segment information for three and six months ended June 30, 2024 and 2023:

 

    Three Months Ended     Three Months Ended  
    June 30, 2024     June 30, 2023  
    Ondas
Networks
    OAS     Total     Ondas
Networks
    OAS     Total  
Revenue, net   $ 659,298     $ 298,553     $ 957,851     $ 1,518,496     $ 3,950,468     $ 5,468,964  
Depreciation and amortization     32,631       1,131,980       1,164,611       40,784       1,179,252       1,220,036  
Interest income     49,818       37,458       87,276      
-
     
-
     
-
 
Interest expense     350,184       353,367       703,551       270,739       237,437       508,176  
Stock based compensation     190,606       217,391       407,997       280,979       1,358,890       1,639,869  
Net loss     (4,114,419 )     (4,155,317 )     (8,269,736 )     (3,932,756 )     (5,025,330 )     (8,958,086 )
Goodwill    
-
      27,751,921       27,751,921      
-
      27,671,921       27,671,921  
Capital expenditure     592,562       501,589       1,094,151       8,549       56,621       65,170  
Total assets   $ 12,648,854     $ 69,872,082     $ 82,520,936     $ 7,915,713     $ 76,645,866     $ 84,561,579  

 

    Six Months Ended     Six Months Ended  
    June 30, 2024     June 30, 2023  
    Ondas
Networks
    OAS     Total     Ondas
Networks
    OAS     Total  
Revenue, net   $ 971,130     $ 611,730     $ 1,582,860     $ 2,648,698     $ 5,416,257     $ 8,064,955  
Depreciation and amortization     57,731       2,282,162       2,339,893       76,528       2,374,890       2,451,418  
Interest income     129,850       54,927       184,777       3,673       3,672       7,345  
Interest expense     742,183       743,979       1,486,162       1,179,703       1,123,946       2,303,649  
Stock based compensation     328,094       349,456       677,550       548,510       2,354,715       2,903,225  
Net loss     (8,690,177 )     (9,455,643 )     (18,145,820 )     (8,157,999 )     (15,255,638 )     (23,413,637 )
Goodwill    
-
      27,751,921       27,751,921      
-
      27,671,921       27,671,921  
Capital expenditure     957,382       1,324,855       2,282,237       8,549       56,621       65,170  
Total assets   $ 12,648,854     $ 69,872,082     $ 82,520,936     $ 7,915,713     $ 76,645,866     $ 84,561,579