Ondas reports 2022 EPS ($1.73) vs. (44c) last year

Reports 2022 revenue $2.13M vs. $2.9M last year. "Ondas entered 2023 with momentum across all business segments. Our high-value, proprietary technology platforms have now transitioned to commercial adoption as we execute on the opportunities in the large critical markets we target including rail, O&G and public safety," said Eric Brock, CEO. "We are delivering near-term revenue in both our Ondas Networks and Ondas Autonomous Systems businesses and defining the new, emerging industries around autonomous drones, data, and AI. The immediate opportunity for Ondas Networks is to deploy our FullMAX wireless data platform to support critical train operations and rail safety initiatives to a growing number of Class I U.S. railroads. Demand for our wireless networking technology is accelerating as regulatory deadlines near in the 900 MHz frequency band and awareness grows of the requirements for robust, secure private wireless systems to support the adoption of existing and new rail safety applications. We are proud of the work we are doing to provide a wireless backbone supporting existing and new advanced technologies required as the railroads continue to invest in efficient and safe train operations. We believe Ondas Networks wireless systems will be an important component adding to US rail safety upgrades. We see momentum building in our drone businesses as we transition our Optimus platform to fleet deployments, including the building of Urban Drone Infrastructure across densely populated cities. We have integrated American Robotics, Airobotics, and now Iron Drone’s operations into our OAS business unit to create a global player in autonomous drone platforms, unifying R&D and sales efforts to deliver several early successes. We believe OAS is positioned to lead the growth of a winner-take-most drone market that is by some estimates forecast to grow to over $100 billion. OAS’s technical leadership is buttressed by regulatory expertise as evidenced by best-in-class FAA regulatory approvals to operate autonomous drones and what we believe are the first fleet deployments of autonomous drone systems in urban environments. With a strong backlog as we enter 2023, Ondas is optimizing current revenue opportunities while investing in growth to maintain leadership across our business units. With expected revenue growth and more efficient expense management after restructuring OAS, we believe we have established a path to profitability"