Exhibit 99.1

Ondas Holdings Reports Fourth Quarter and Full Year 2024 Financial Results:
Anticipates Record Revenue in 2025

Ondas Autonomous Systems (OAS) Business Unit 2025 Revenue Outlook Raised to at least $20 Million
Driven by $10 Million Backlog and Expected Order Growth from Current and New Military Customers

$25 Million in 2025 Total Revenue Expected for Ondas Holdings

Partnership with Palantir to Enhance Scalability and Support Growth Strategy

Leadership Team Enhanced with Oshri Lugassi as Co-CEO of OAS and Markus Nottelmann as CEO of Ondas Networks

Conference Call Scheduled for Today at 8:30 a.m. ET

BOSTON, MA / March 12, 2025 / Ondas Holdings Inc. (Nasdaq: ONDS) (“Ondas” or the “Company”), a leading provider of private industrial wireless networks and commercial drone and automated data solutions through its Ondas Networks and Ondas Autonomous Systems (OAS) business units, reported financial and operating results for the fourth quarter and full year ended December 31, 2024.

“Ondas entered 2024 with deepening customer engagement and a growing business pipeline at OAS, allowing us to end the year with $10 million in backlog at OAS. We believe 2025 will be a record year with OAS expected to contribute at least $20 million in revenues of the expected Ondas Holdings revenue of $25 million,” said Eric Brock, Chairman and CEO of Ondas Holdings. “Our momentum in 2024 was supported by securing two key programs with a major military customer for our Optimus and Iron Drone platforms, opening the large and fast-growing global defense markets. Additionally, we fortified our financial position by securing $35 million of capital in the fourth quarter, supporting our strong growth outlook.

“In 2025, as we recover from the war-related disruptions of the previous year, we are delivering on our backlog and growing bookings. Our focus is on expanding our current programs in Israel and the United Arab Emirates (UAE), and securing new military customers, while also capturing important Drone as First Responder (DFR) and critical infrastructure customers in the U.S. As we bring more customers on board, we will expand our operating platform with targeted investments in our supply chain and field services capabilities, supporting the multi-year growth plan we are executing. The recently announced partnership with Palantir will be critical to scaling our global operating platform as revenues ramp and we create optionality around strategic activities that broaden our solutions portfolio for customers.

“We recently significantly bolstered our leadership team with the addition of Oshri Lugassi as Co-CEO at OAS and Markus Nottelmann as CEO at Ondas Networks. Oshri and Markus bring incredible leadership experience and valuable skillsets to help Ondas operationalize and drive adoption of our platform technologies. We are already witnessing expanded customer and strategic opportunities at both OAS and Ondas Networks as they hit the ground running. I look forward to working closely with these two exceptional leaders as we build the business across Ondas.

“At OAS, we are advancing the fulfillment of military programs for the Iron Drone Raider and Optimus System drone platforms. I want to emphasize the outstanding work with Iron Drone, where we collaborated intensively with our customers and technology partners to enhance, commercialize, and operationalize the Raider platform for combat deployments. The Iron Drone Raider features what we believe are best-in-class intelligent navigation capabilities in global navigation satellite system (GNSS) complex environments, meeting global requirements for low kinetic mitigation of threats from hostile drones. We have made similar navigation enhancements for the Optimus System, further establishing this platform as a valuable component of border and military base security for defense and homeland security customers.

“At Ondas Networks, we continue to see significant long-term opportunities with the dot16 standard in the railroad sector. Although the railroads’ spending plans for the new 900 MHz network have remained slower than expected, we anticipate eventual upgrades there as legacy equipment is obsoleted, as well as in other private rail networks. As we continue to engage customers on network adoption timelines, we expect to secure new product development and service partners in 2025, which will drive increasing operational use cases for applications supported by our dot16-enabled solutions. These new products and services underscore the significant and growing strategic value of our unique software-based IP supporting the dot16 industrial wireless standard, as well as the technology expertise our team brings to the rail markets,” Brock concluded.

Full Year 2024 and Recent Highlights – Ondas Autonomous Systems

OAS President Meir Kliner commented, “2024 has been a transformative year for OAS, highlighted by record-breaking bookings, strategic global partnerships, and continued technological advancements across our Optimus and Iron Drone platforms. As we expand our footprint in defense and homeland security, we remain committed to delivering highly capable and reliable autonomous drone solutions. The increasing demand for our platforms reaffirms the growing need for advanced security and aerial intelligence solutions in military, border protection, and critical infrastructure defense. Looking ahead to 2025, we anticipate sustained momentum as we leverage our core technology to address evolving security and operational challenges.”

Full Year 2024 and Recent Highlights – Ondas Networks 

Markus Nottelmann, Ondas Networks CEO, commented, “In recent months Ondas Networks has begun to broaden and deepen its direct engagement with Class I railroads and other industry stakeholders, including the Federal Railroad Administration (FRA), with a focus on communications applications that address operational and safety needs for the industry. Our dot16 technology is a versatile platform that enables a variety of new applications that will contribute to safe and efficient train operations for railroad customers. We remain active on various projects on the 900 MHz network upgrade and the new 900 MHz ‘A-block’ will continue to play a part in this broader strategy around railroad communications and new, emerging use cases.

“We expect to begin commercialization of our NGHE capabilities in 2025, while engaging in additional new product opportunities to support Class I rails’ big data applications and adding further value to the dot16 network upgrades we expect the Railroads to pursue in the coming years. Additionally, we continue to engage customers and industry partners on railway communication projects globally leveraging our technical capabilities and the expertise of our team.”

Fourth Quarter 2024 Financial Results

Revenues were up 173% to $4.1 million quarter-over-quarter for the three months ended December 31, 2024, compared to $1.5 million for the three months ended September 30, 2024, and down 18% from $5.0 million for the three months ended December 31, 2023. Revenues from Ondas Networks were $0.5 million as compared to $0.4 million in the third quarter of 2024 and $1.6 million in the fourth quarter of 2023 due to extended timelines for network deployments by customers. OAS revenue was $3.6 million, an increase of 260% from $1.0 million in the third quarter of 2024, and an increase of $0.3 million or 10% from $3.3 million in the fourth quarter of 2023. The increase reflects the shipment of products and services from the $14.4 million order primarily related to the two new programs secured with a military customer in the third quarter of 2024.

Gross profit was $0.9 million for the three months ended December 31, 2024, compared to $0.1 million for the three months ended September 30, 2024, and $1.7 million for three months ended December 31, 2023. Gross profit as a percentage of revenues was 22% for the three months ended December 31, 2024, 35% for the three months ended December 31, 2023, and 3% for the three months ended September 30, 2024. The increase in gross margins from the third quarter results from increased product revenue at OAS. Compared to the fourth quarter of 2023, the decrease reflects the lack of higher margin product sales at Ondas Networks and slightly lower margins at OAS because of the inclusion of third-party products in the current quarter revenue.

Operating expenses decreased to $9.4 million for the three months ended December 31, 2024, as compared to $14.4 million in three months ended December 31, 2023, and compared to $8.7 million in the three months ended September 30, 2024. The decrease compared to the fourth quarter of 2023 of $5.0 million was primarily due to one-time non-cash charges for impairment of long-term assets of $4.0 million recorded in the previous year and various cost saving measures implemented in 2024. Compared to the third quarter of 2024, the increase of $0.7 million was primarily the result of a non-cash credit loss.

Operating loss narrowed to $8.5 million for the three months ended December 31, 2024, as compared to $12.6 million for the three months ended December 31, 2023, and $8.7 million for the three months ended September 30, 2024. The improvement from the prior year was result of the one-off charges described above, in the fourth quarter of 2023.

Net loss was $10.3 million for the three months ended December 31, 2024, as compared to a net loss of $14.1 million for the three months ended December 31, 2023, and $9.5 million for the three months ended September 30, 2024.

Adjusted EBITDA loss was $7.0 million for the three months ended December 31, 2024, unchanged from $7.0 million for the three months ended December 31, 2023, and $7.1 million for the three months ended September 30, 2024. A reconciliation of Adjusted EBITDA, a non-GAAP measure, is provided in the attached financial tables.

Full Year 2024 Financial Results

Revenues were $7.2 million for the year ended December 31, 2024, as compared to $15.7 million for the year ended December 31, 2023, largely due to extended customer timelines at Ondas Networks and war related disruptions in Israel for OAS that impacted operations, particularly in the first half of 2024.

Gross profit for the year ended December 31, 2024, was $0.3 million or 5% compared to $6.4 million or 41% for the year ended December 31, 2023, reflecting lower revenue compared to fixed operations costs particularly at OAS.

Operating expenses narrowed sharply to $35.0 million for the year ended December 31, 2024, compared to $46.1 million for the year ended December 31, 2023. The reduction reflects the full synergies achieved in 2024 from the integration of the Airobotics and American Robotics operations that was implemented during 2023, costs savings at Ondas Networks and the absence of one-time impairment charges in 2024.

The Company’s operating loss narrowed to $34.6 million for the year ended December 31, 2024, as compared to a loss of $39.7 million for the year ended December 31, 2023. Operating loss decreased primarily due to the decrease in operating expenses, partially offset by the decreased revenue and lower gross profit. Net loss narrowed to $38.0 million for the year ended December 31, 2024, as compared to a net loss of $44.8 million for the year ended December 31, 2023.

The Company’s Adjusted EBITDA loss narrowed to approximately $28.5 million for the year ended December 31, 2024, as compared to $29.7 million for the year ended December 31, 2023. A reconciliation of Adjusted EBITDA, a non-GAAP measure, is provided in the attached financial tables.

The Company held cash of $30.0 million as of December 31, 2024, as compared to $15.0 million as of December 31, 2023. The increase of $15.0 million was the result of raising $50.2 million in financing, of which $33.5 million was used to fund operations and $1.7 million to invest in equipment. The amount received for financing included $38.4 million in convertible and other debt, $7.4 million in proceeds from the sale of common shares, exercise of warrants and stock options, and $4.4 million from the sale of a non-controlling interest in Ondas Networks.

Operational and Financial Outlook for 2025

The Company expects to generate strong growth in 2025 with a revenue target of $25 million, which would be a record year and represent nearly 250% growth year over year from 2024. Growth will be led by our OAS business unit which we expect to generate at least $20 million in revenue as compared to our previous expectation of $15 – 18 million shared at the OAS Investor Day in September 2024. This outlook is supported by $10 million in backlog and what we believe is a conservative view of the likely orders we expect to secure and fulfill during the year. Revenue expectations for Ondas Networks currently are primarily related to existing and expected development programs and modest system sales due to the current lack of firm commitments on rail network buildout timelines.

Bookings and revenue growth are expected to fluctuate from quarter-to-quarter given the variability around both expected orders associated with program expansion with existing customers, as well as the timing of the addition of new customers at OAS, and the timing of rail network buildouts for Ondas Networks.

Earnings Conference Call & Audio Webcast Details

Date: Wednesday, March 12, 2025

Time: 8:30 a.m. Eastern Time

Toll-free dial-in number: 844-883-3907

International dial-in number: 412-317-5798

Call participant pre-registration link: here

The Company encourages listeners to pre-register, which allows callers to gain immediate access and bypass the live operator. Please note that you can register at any time during the call. For those who choose not to pre-register, please call the conference telephone number 10-15 minutes prior to the start time, at which time an operator will register your name and organization.

The conference call will also be broadcast live and available for replay here and via the investor relations section of the Company’s website at ir.ondas.com. A replay will be accessible from the investor relations website after completion of the event.

About Ondas Holdings Inc 

Ondas Holdings Inc. (“Ondas”) is a leading provider of private wireless data solutions via Ondas Networks Inc. (“Ondas Networks”) and commercial drone solutions through Ondas Autonomous Systems Inc. via its wholly owned subsidiaries American Robotics, Inc. (“American Robotics” or “AR”) and Airobotics LTD (“Airobotics”), which we operate as a separate business unit called Ondas Autonomous Systems.

Ondas Networks is a developer of proprietary, software-based wireless broadband technology for large established and emerging commercial and government markets. Ondas Networks’ standards-based (802.16s), multi-patented, software-defined radio FullMAX platform enables Mission-Critical IoT (MC-IoT) applications by overcoming the bandwidth limitations of today’s legacy private licensed wireless networks. Ondas Networks’ customer end markets include railroads, utilities, oil and gas, transportation, aviation (including drone operators) and government entities whose demands span a wide range of mission critical applications.

Ondas Autonomous Systems Inc. (OAS) specializes in designing, developing, and marketing autonomous drone solutions via its two advanced drone platforms: the Optimus System, the world’s first FAA-certified small UAS (sUAS) for aerial security and data capture, and the Iron Drone Raider, a counter-drone system designed to combat hostile drones. Both platforms are highly automated, AI-powered, and capable of continuous, remote operation for critical defense, infrastructure, industrial, and government applications. American Robotics and Airobotics have achieved industry-leading regulatory milestones, including the first-ever FAA Type Certification for the Optimus System and the first drone system approved by the FAA for automated beyond-visual-line-of-sight (BVLOS) operations without an on-site human operator. 

Ondas Networks, American Robotics and Airobotics together provide users in defense, homeland security, public safety and other critical industrial and government security and infrastructure markets with improved connectivity, situational awareness and data collection and information processing capabilities.

For additional information on Ondas Holdings, visit www.ondas.com or follow Ondas Holdings on X formerly known as Twitter and LinkedIn. For additional information on Ondas Networks, visit www.ondasnetworks.com or follow Ondas Networks on X and LinkedIn. For additional information on American Robotics, visit www.american-robotics.com or follow American Robotics on X and LinkedIn. For additional information on Airobotics, visit www.airoboticsdrones.com or follow Airobotics on X and LinkedIn. For additional information on Ondas Autonomous Systems, follow us on LinkedIn.

Information on our websites and social media platforms is not incorporated by reference in this release or in any of our filings with the U.S. Securities and Exchange Commission.

Non-GAAP Financial Measure

As required by the rules of the Securities and Exchange Commission (“SEC”), we provide a reconciliation of Adjusted EBITDA, the non-GAAP financial measure, contained in this press release to the most directly comparable measure under GAAP, which reconciliation is set forth in the table below.

We believe that Adjusted EBITDA facilitates analysis of our ongoing business operations because it excludes items that may not be reflective of, or are unrelated to, the Company’s core operating performance, and may assist investors with comparisons to prior periods and assessing trends in our underlying businesses. Other companies may calculate Adjusted EBITDA differently, and therefore our measures may not be comparable to similarly titled measures used by other companies. Adjusted EBITDA should only be used as supplemental measures of our operating performance.

We believe that Adjusted EBITDA improves comparability from period to period by removing the impact of our capital structure (interest and financing expenses), asset base (depreciation and amortization), tax impacts and other adjustments as set out in the table below, which management has determined are not reflective of core operating activities and thereby assist investors with assessing trends in our underlying businesses.

Management uses Adjusted EBITDA in making financial, operating, and planning decisions and evaluating the Company’s ongoing performance.

Forward-Looking Statements 

Statements made in this release that are not statements of historical or current facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance, or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including the risks discussed under the heading “Risk Factors” discussed under the caption “Item 1A. Risk Factors” in Part I of our most recent Annual Report on Form 10-K or any updates discussed under the caption “Item 1A. Risk Factors” in Part II of our Quarterly Reports on Form 10-Q and in our other filings with the SEC. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date, except as required by law. 

Contacts

IR Contact for Ondas Holdings Inc.

888.657.2377

ir@ondas.com

Media Contact for Ondas 

Escalate PR 

ondas@escalatepr.com 

Preston Grimes  

Marketing Manager, Ondas Holdings Inc.

preston.grimes@ondas.com

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CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF CASH FLOWS

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ADJUSTED EBITDA RECONCILIATION

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