| Schedule of Segment Information |
The following table presents segment information for years ended December 31,
| |
|
2024 |
|
|
2023 |
|
| |
|
Ondas
Networks |
|
|
OAS |
|
|
Total |
|
|
Ondas
Networks |
|
|
OAS |
|
|
Total |
|
| Product revenue |
|
$ |
25,682 |
|
|
$ |
2,770,496 |
|
|
$ |
2,796,178 |
|
|
$ |
5,246,948 |
|
|
$ |
6,855,440 |
|
|
$ |
12,102,388 |
|
| Service revenue |
|
|
34,276 |
|
|
|
2,457,679 |
|
|
|
2,491,955 |
|
|
|
12,800 |
|
|
|
2,113,760 |
|
|
|
2,126,560 |
|
| Development revenue |
|
|
1,871,561 |
|
|
|
33,000 |
|
|
|
1,904,561 |
|
|
|
1,462,482 |
|
|
|
- |
|
|
|
1,462,482 |
|
| Revenue, net |
|
|
1,931,519 |
|
|
|
5,261,175 |
|
|
|
7,192,694 |
|
|
|
6,722,230 |
|
|
|
8,969,200 |
|
|
|
15,691,430 |
|
| Cost of goods sold |
|
|
2,290,324 |
|
|
|
4,557,187 |
|
|
|
6,847,511 |
|
|
|
4,647,931 |
|
|
|
4,662,325 |
|
|
|
9,310,256 |
|
| Gross profit (loss) |
|
|
(358,805 |
) |
|
|
703,988 |
|
|
|
345,183 |
|
|
|
2,074,299 |
|
|
|
4,306,875 |
|
|
|
6,381,174 |
|
| Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| General and administration |
|
|
5,261,026 |
|
|
|
10,360,623 |
|
|
|
15,621,649 |
|
|
|
4,374,703 |
|
|
|
13,960,077 |
|
|
|
18,334,780 |
|
| Sales and marketing |
|
|
2,208,960 |
|
|
|
3,101,275 |
|
|
|
5,310,235 |
|
|
|
3,174,435 |
|
|
|
2,668,759 |
|
|
|
5,843,194 |
|
| Research and development |
|
|
5,881,712 |
|
|
|
6,594,689 |
|
|
|
12,476,401 |
|
|
|
7,131,564 |
|
|
|
9,942,371 |
|
|
|
17,073,935 |
|
| Segment operating loss |
|
|
(13,710,503 |
) |
|
|
(19,352,599 |
) |
|
|
(33,063,102 |
) |
|
|
(12,606,403 |
) |
|
|
(22,264,332 |
) |
|
|
(34,870,735 |
) |
| Interest income |
|
|
75,045 |
|
|
|
- |
|
|
|
75,045 |
|
|
|
114,526 |
|
|
|
- |
|
|
|
114,526 |
|
| Interest expense |
|
|
(632,132 |
) |
|
|
(676,704 |
) |
|
|
(1,308,836 |
) |
|
|
(15,000 |
) |
|
|
(427,412 |
) |
|
|
(442,412 |
) |
| Other segment items |
|
|
(29,962 |
) |
|
|
16,837 |
|
|
|
(13,125 |
) |
|
|
(12,184 |
) |
|
|
(955,968 |
) |
|
|
(968,152 |
) |
| Segment loss before provision for income taxes |
|
$ |
(14,297,552 |
) |
|
$ |
(20,012,466 |
) |
|
$ |
(34,310,018 |
) |
|
$ |
(12,519,061 |
) |
|
$ |
(23,647,712 |
) |
|
$ |
(36,166,773 |
) |
| Corporate operating expenses |
|
|
- |
|
|
|
- |
|
|
|
(1,546,202 |
) |
|
|
- |
|
|
|
- |
|
|
|
(4,858,565 |
) |
| Corporate other expense |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(116,535 |
) |
| Elimination of intercompany interest |
|
|
- |
|
|
|
- |
|
|
|
605,687 |
|
|
|
- |
|
|
|
- |
|
|
|
470,486 |
|
| Corporate interest income |
|
|
- |
|
|
|
- |
|
|
|
159,885 |
|
|
|
- |
|
|
|
- |
|
|
|
9,348 |
|
| Corporate interest expense |
|
|
- |
|
|
|
- |
|
|
|
(2,917,109 |
) |
|
|
- |
|
|
|
- |
|
|
|
(4,182,833 |
) |
| Loss before income taxes |
|
|
- |
|
|
|
- |
|
|
$ |
(38,007,757 |
) |
|
|
- |
|
|
|
- |
|
|
$ |
(44,844,872 |
) |
Additional segment information is set forth below
as of and for the year ending December 31,
| |
|
2024 |
|
|
2023 |
|
| |
|
Ondas
Networks |
|
|
OAS |
|
|
Total |
|
|
Ondas
Networks |
|
|
OAS |
|
|
Total |
|
| Total assets |
|
$ |
24,297,317 |
|
|
$ |
85,324,971 |
|
|
$ |
109,622,288 |
|
|
$ |
19,272,162 |
|
|
$ |
72,892,520 |
|
|
$ |
92,164,682 |
|
| Goodwill |
|
$ |
- |
|
|
$ |
27,751,921 |
|
|
$ |
27,751,921 |
|
|
$ |
- |
|
|
$ |
27,751,921 |
|
|
$ |
27,751,921 |
|
| Depreciation and amortization |
|
$ |
212,031 |
|
|
$ |
4,610,709 |
|
|
$ |
4,822,740 |
|
|
$ |
142,866 |
|
|
$ |
4,849,059 |
|
|
$ |
4,991,925 |
|
| Stock-based compensation |
|
$ |
599,520 |
|
|
$ |
665,665 |
|
|
$ |
1,265,185 |
|
|
$ |
1,111,256 |
|
|
$ |
(63,858 |
) |
|
$ |
1,047,398 |
|
| Capital expenditures |
|
$ |
1,042,699 |
|
|
$ |
593,696 |
|
|
$ |
1,636,395 |
|
|
$ |
79,208 |
|
|
$ |
131,827 |
|
|
$ |
211,035 |
|
|