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American Robotics Guardian Firm Ondas Holdings Q1

American Robotics Parent Company Ondas Holdings First Quarter

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American Robotics Guardian Firm Ondas Holdings Proclaims First Quarter Earnings

Ondas Holdings Inc., by its subsidiaries, Ondas Networks and American Robotics (“AR”), is a supplier of personal wi-fi, drone, and automatic knowledge options. The corporate introduced its first quarter outcomes on Might 11, 2022.

Proceed studying, or hear under:

Key figures within the announcement:

  • Income for the primary quarter was $400k in comparison with $1.2 million for the three months ended March 31, 2021.
  • Gross margin was 29.8% in comparison with 52.3% in Q1 2021.
  • Web loss was round $10 million in comparison with a $3.1 million loss in Q1 2021.
  • Money stability on the finish of March was $32.1 million.

Ondas famous that the revenues and bills replicate enterprise improvement exercise in preparation for bigger business roll outs that they count on sooner or later. They reaffirmed their 2022 monetary outlook of not less than $20 million in bookings for Ondas Networks, and orders for not less than 30 Scout Techniques for American Robotics. American Robotics can be concentrating on not less than one buyer reorder for fleet deployments by the top of the yr.

Highlights throughout the quarter:

  • Delivered the second 900 MHz launch order from Siemens for a Class I railroad.
  • Acquired a purchase order order from Chevron Company.
  • Acquired a purchase order order from Scotts Miracle-Gro Firm.
  • Introduced seven further automated BVLOS website approvals from the FAA to deploy Scout Techniques, bringing the full portfolio to 10 websites throughout eight U.S. states.

“American Robotics is in an thrilling interval of progress, as we’re properly on our technique to scaling of operations en path to fleet deployments throughout the US,” mentioned representatives on the earnings name.  “Enterprise improvement is on observe with each Ondas Networks and American Robotics, and we count on to construct momentum with buyer buy orders all year long.”

Ondas Holdings [NASDAQ:ONDS] is among the holdings within the AdvisorShares Drone Know-how ETF [NYSE ARCA:UAV], the one ETF devoted to the drone financial system. The AdvisorShares Drone Know-how ETF is a thematic funding technique searching for to seize the expansion alternatives in drones and autonomous automobiles (AV).

AdvisorShares is a DRONELIFE sponsor.

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