Ondas sees 2023 revenue $26M-$30M

Ondas is reaffirming its operational and financial outlook for 2023 as shared during the Virtual Investor Event held on February 14, 2023. Commercial adoption of Ondas Networks’ FullMAX and OAS’ Optimus System are expected to drive significant revenue growth during the year. Based on the current outlook, the Company expects to generate between $26M and $30M revenue and an Adjusted EBITDA loss of between approximately $19M and $24M for the full year ended December 31, 2023. The Company expects bookings and revenue growth to fluctuate from quarter-to-quarter given the uncertainty around the timing of customer activity in front of the targeted commercial rollout for the 900 MHz Rail network, the development programs underway with Siemens and MxV Rail, in addition to the timing of OAS’s deliveries to the UAE and its growing roster of customers.