Source: American Robotics

American Robotics Parent Company Ondas Holdings Announces First Quarter Earnings

Key figures in the announcement:

• Revenue for the first quarter was $400k compared to $1.2 million for the three months ended March 31, 2021.
• Gross margin was 29.8% compared to 52.3% in Q1 2021.
• Net loss was around $10 million compared to a $3.1 million loss in Q1 2021.
• Cash balance at the end of March was $32.1 million.

Ondas noted that the revenues and expenses reflect business development activity in preparation for larger commercial roll outs that they expect in the future. They reaffirmed their 2022 financial outlook of at least $20 million in bookings for Ondas Networks, and orders for at least 30 Scout Systems for American Robotics. American Robotics is also targeting at least one customer reorder for fleet deployments by the end of the year.

Highlights during the quarter:

• Delivered the second 900 MHz launch order from Siemens for a Class I railroad.
• Received a purchase order from Chevron Corporation.
• Received a purchase order from Scotts Miracle-Gro Company.
• Announced seven additional automated BVLOS site approvals from the FAA to deploy Scout Systems, bringing the total portfolio to 10 sites across eight U.S. states.

“American Robotics is in an exciting period of growth, as we are well on our way to scaling of operations en route to fleet deployments across the United States,” said representatives on the earnings call.  “Business development is on track with both Ondas Networks and American Robotics, and we expect to build momentum with customer purchase orders throughout the year.”

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