| SEGMENT INFORMATION |
NOTE 13 – SEGMENT INFORMATION
Operating segments are defined
as components of an entity for which discrete financial information is available and is regularly reviewed by the 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 Ondas Autonomous Systems 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 nine months ended
September 30, 2023:
| |
|
Three Months Ended
September 30,
2023 |
|
| |
|
Ondas
Networks |
|
|
Ondas
Autonomous
Systems |
|
|
Total |
|
| Revenue, net |
|
$ |
2,430,954 |
|
|
$ |
234,236 |
|
|
$ |
2,665,190 |
|
| Depreciation and amortization |
|
|
36,131 |
|
|
|
1,264,666 |
|
|
|
1,300,797 |
|
| Interest income |
|
|
379 |
|
|
|
- |
|
|
|
379 |
|
| Interest expense |
|
|
448,448 |
|
|
|
445,503 |
|
|
|
893,951 |
|
| Stock-based compensation |
|
|
291,324 |
|
|
|
(2,558,199 |
) |
|
|
(2,266,875 |
) |
| Net loss |
|
|
(3,840,184 |
) |
|
|
(3,452,277 |
) |
|
|
(7,292,461 |
) |
| Goodwill |
|
|
- |
|
|
|
27,671,921 |
|
|
|
27,671,921 |
|
| Capital expenditures |
|
|
39,451 |
|
|
|
55,521 |
|
|
|
94,972 |
|
| Total assets |
|
$ |
21,842,344 |
|
|
$ |
78,802,674 |
|
|
$ |
100,645,018 |
|
| |
|
Nine months Ended
September 30, 2023 |
|
| |
|
Ondas
Networks |
|
|
Ondas
Autonomous
Systems |
|
|
Total |
|
| Revenue, net |
|
$ |
5,079,652 |
|
|
$ |
5,650,493 |
|
|
$ |
10,730,145 |
|
| Depreciation and amortization |
|
|
112,659 |
|
|
|
3,639,556 |
|
|
|
3,752,215 |
|
| Interest income |
|
|
4,058 |
|
|
|
3,666 |
|
|
|
7,724 |
|
| Interest expense |
|
|
1,628,151 |
|
|
|
1,569,449 |
|
|
|
3,197,600 |
|
| Stock-based compensation |
|
|
839,834 |
|
|
|
(203,484 |
) |
|
|
636,350 |
|
| Net loss |
|
|
(11,998,183 |
) |
|
|
(18,707,915 |
) |
|
|
(30,706,098 |
) |
| Goodwill |
|
|
- |
|
|
|
27,671,921 |
|
|
|
27,671,921 |
|
| Capital expenditures |
|
|
39,451 |
|
|
|
55,521 |
|
|
|
94,972 |
|
| Total assets |
|
$ |
21,842,344 |
|
|
$ |
78,802,674 |
|
|
$ |
100,645,018 |
|
|