Ondas Holdings has established Ondas Autonomous Holdings as a new, wholly owned subsidiary. The newly created OAH is an intermediate holding company which now wholly-owns Ondas’ subsidiaries American Robotics and Airobotics, which are together operated as the Ondas Autonomous Systems business unit. The creation of OAH is intended to provide additional organizational flexibility to support the management and financing of the OAS business unit and its growth plan. OAS has demonstrated strong early revenue momentum which is expected to accelerate. On a preliminary, unaudited basis OAS generated $9.0 million in revenue for the year ended December 31, 2023.
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