| Schedule of Segment Information |
The following table presents segment information for years ended December 31):
| |
|
2025 |
|
|
2024 |
|
| (dollars
in thousands) |
|
Ondas
Networks |
|
|
OAS |
|
|
Total |
|
|
Ondas
Networks |
|
|
OAS |
|
|
Total |
|
| Product revenue |
|
$ |
193 |
|
|
$ |
34,390 |
|
|
$ |
34,583 |
|
|
$ |
26 |
|
|
$ |
2,770 |
|
|
$ |
2,796 |
|
| Service and subscription revenue |
|
|
23 |
|
|
|
10,218 |
|
|
|
10,241 |
|
|
|
34 |
|
|
|
2,458 |
|
|
|
2,492 |
|
| Development revenue |
|
|
764 |
|
|
|
5,143 |
|
|
|
5,907 |
|
|
|
1,872 |
|
|
|
33 |
|
|
|
1,905 |
|
| Revenue, net |
|
|
980 |
|
|
|
49,751 |
|
|
|
50,731 |
|
|
|
1,932 |
|
|
|
5,261 |
|
|
|
7,193 |
|
| Cost of goods sold |
|
|
2,410 |
|
|
|
28,165 |
|
|
|
30,575 |
|
|
|
2,291 |
|
|
|
4,557 |
|
|
|
6,848 |
|
| Gross profit (loss) |
|
|
(1,430 |
) |
|
|
21,586 |
|
|
|
20,156 |
|
|
|
(359 |
) |
|
|
704 |
|
|
|
345 |
|
| Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| General and administration |
|
|
2,781 |
|
|
|
24,453 |
|
|
|
27,234 |
|
|
|
5,261 |
|
|
|
10,360 |
|
|
|
15,621 |
|
| Sales and marketing |
|
|
3,161 |
|
|
|
9,838 |
|
|
|
12,999 |
|
|
|
2,209 |
|
|
|
3,101 |
|
|
|
5,310 |
|
| Research and development |
|
|
5,260 |
|
|
|
15,619 |
|
|
|
20,879 |
|
|
|
5,882 |
|
|
|
6,595 |
|
|
|
12,477 |
|
| Segment operating loss |
|
|
(12,632 |
) |
|
|
(28,324 |
) |
|
|
(40,956 |
) |
|
|
(13,711 |
) |
|
|
(19,352 |
) |
|
|
(33,063 |
) |
| Interest income |
|
|
15 |
|
|
|
12 |
|
|
|
27 |
|
|
|
75 |
|
|
|
- |
|
|
|
75 |
|
| Interest expense |
|
|
(6,813 |
) |
|
|
(1,294 |
) |
|
|
(8,107 |
) |
|
|
(632 |
) |
|
|
(677 |
) |
|
|
(1,309 |
) |
| Other segment items |
|
|
(24 |
) |
|
|
(196 |
) |
|
|
(220 |
) |
|
|
(29 |
) |
|
|
16 |
|
|
|
(13 |
) |
| Segment loss before provision for income taxes |
|
$ |
(19,454 |
) |
|
$ |
(29,802 |
) |
|
$ |
(49,256 |
) |
|
$ |
(14,297 |
) |
|
$ |
(20,013 |
) |
|
$ |
(34,310 |
) |
| Corporate operating loss |
|
|
- |
|
|
|
- |
|
|
|
(17,428 |
) |
|
|
- |
|
|
|
- |
|
|
|
(1,546 |
) |
| Elimination of intercompany interest |
|
|
- |
|
|
|
- |
|
|
|
5,594 |
|
|
|
- |
|
|
|
- |
|
|
|
606 |
|
| Corporate unrealized gain on investments |
|
|
- |
|
|
|
- |
|
|
|
5,400 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Corporate change in fair value of warrant liability, net |
|
|
- |
|
|
|
- |
|
|
|
(82,225 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Corporate interest income |
|
|
- |
|
|
|
- |
|
|
|
9,085 |
|
|
|
- |
|
|
|
- |
|
|
|
160 |
|
| Corporate interest expense |
|
|
- |
|
|
|
- |
|
|
|
(4,062 |
) |
|
|
- |
|
|
|
- |
|
|
|
(2,917 |
) |
| Income (Loss) before income taxes |
|
|
- |
|
|
|
- |
|
|
$ |
(132,892 |
) |
|
|
- |
|
|
|
- |
|
|
$ |
(38,007 |
) |
| |
|
2025 |
|
|
2024 |
|
| (dollars
in thousands) |
|
Ondas
Networks |
|
|
OAS |
|
|
Corporate |
|
|
Total |
|
|
Ondas
Networks |
|
|
OAS |
|
|
Corporate |
|
|
Total |
|
| Total assets |
|
$ |
8,983 |
|
|
$ |
510,478 |
|
|
$ |
613,380 |
|
|
$ |
1,132,841 |
|
|
$ |
10,158 |
|
|
$ |
71,186 |
|
|
$ |
28,278 |
|
|
$ |
109,622 |
|
| Goodwill |
|
$ |
- |
|
|
$ |
251,809 |
|
|
$ |
- |
|
|
$ |
251,809 |
|
|
$ |
- |
|
|
$ |
27,752 |
|
|
$ |
- |
|
|
$ |
27,752 |
|
| Depreciation and amortization |
|
$ |
283 |
|
|
$ |
6,471 |
|
|
$ |
- |
|
|
$ |
6,754 |
|
|
$ |
211 |
|
|
$ |
4,611 |
|
|
$ |
- |
|
|
$ |
4,822 |
|
| Stock-based compensation |
|
$ |
220 |
|
|
$ |
10,398 |
|
|
$ |
5,398 |
|
|
$ |
16,016 |
|
|
$ |
397 |
|
|
$ |
462 |
|
|
$ |
406 |
|
|
$ |
1,265 |
|
| Capital expenditures |
|
$ |
4 |
|
|
$ |
1,996 |
|
|
$ |
34 |
|
|
$ |
2,034 |
|
|
$ |
1,042 |
|
|
$ |
594 |
|
|
$ |
- |
|
|
$ |
1,636 |
|
|