Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (24,886,500) $ (18,145,820)
Adjustments to reconcile net loss to net cash flows used in operating activities:    
Depreciation 369,689 234,305
Amortization of debt discount and issuance costs 4,496,595 994,705
Amortization of intangible assets 2,117,175 2,105,588
Amortization of right of use asset 559,570 466,156
Retirement of assets 1,578
Loss on intellectual property 15,704
Change in fair value of government grant liability 111,074 (692,196)
Stock-based compensation 3,751,338 677,550
Changes in operating assets and liabilities:    
Accounts receivable (159,522) 1,138,730
Inventory (1,369,271) (2,371,081)
Other current assets (3,608,230) 115,866
Deposits and other assets (42,950) (109,690)
Accounts payable (893,629) (232,044)
Accrued expenses and other current liabilities 2,039,970 (388,363)
Deferred revenue 3,035,508 8,335
Operating lease liability (599,444) (160,841)
Other liabilities 82,500
Net cash flows used in operating activities (15,062,923) (16,274,722)
CASH FLOWS FROM INVESTING ACTIVITIES    
Patent costs (27,748) (18,698)
Purchase of equipment (266,706) (2,282,237)
Proceeds from sale of equipment 1,700
Purchase of software intangible (11,365) (15,638)
Net cash flows used in investing activities (305,819) (2,314,873)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from sale of noncontrolling interest in Ondas Networks, net of issuance costs 4,375,035
Proceeds from sale of common stock and Pre-Funded Warrants, net of issuance costs 42,677,083 3,859,394
Proceeds from exercise of options and warrants 9,962,597 8,702
Proceeds from convertible notes payable, net of issuance costs 923,358
Proceeds from government grant 364,683 299,838
Payments on government grant liability (7,000)
Net cash flows provided by financing activities 53,920,721 8,542,969
Increase (decrease) in cash, cash equivalents, and restricted cash 38,551,979 (10,046,626)
Cash, cash equivalents, and restricted cash, beginning of period 29,999,321 15,022,000
Cash, cash equivalents, and restricted cash, end of period 68,551,300 4,975,374
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Cash paid for interest 7,693 11,923
Cash paid for income taxes
SUPPLEMENTAL SCHEDULE OF NON-CASH FINANCING ACTIVITIES:    
Preferred dividends attributable to redeemable noncontrolling interest 780,000 724,138
Accretion of redeemable preferred stock in Ondas Networks 1,695,607 1,357,140
Common stock issued in exchange for debt repayment 47,101,915 250,187
Noncash consideration for settlement of development agreement payable 342,428
Warrants in Ondas Autonomous Systems, in relation to sale of common stock 954,737
Warrants in relation to sale of redeemable preferred stock in Ondas Networks 1,471,194
Warrants in Ondas Networks, in relation to notes payable and convertible notes payable 345,403
Transfer of equipment into inventory 398,046
Operating leases right-of-use assets obtained in exchange of lease liabilities $ 1,352,885