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Segment Information | 6 Months Ended
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Jun. 30, 2025
Segment Information [Abstract] |
SEGMENT INFORMATION | NOTE 10 – SEGMENT INFORMATION Operating segments are defined as components of an entity for which discrete financial information is available and is regularly reviewed by the Chief Operating Decision Maker (“CODM”) in making decisions regarding resource allocation and performance assessment. The Company’s CODM is its Chief Executive Officer. Segment operating loss and segment loss before provision for income taxes are the measures of profit and loss used by the CODM to assess performance and to decide how to allocate resources for each of the Company’s reportable segments. Segment operating loss and segment loss before provision for income taxes are used to monitor actual results versus planned and prior period results for each segment based on their respective profitability objectives and business models. Segment operating loss and segment loss before provision for income taxes are also used to allocate human and capital resources among the reportable segments. The Company determined it has two reportable segments, Ondas Networks and OAS, as the CODM reviews financial information for these two businesses separately. The Company has no inter-segment sales. The Company’s revenue and significant expenses by segment regularly reviewed by the CODM, and other segment items for the three and six months ended June 30, 2025 and 2024 are as follows:
|  | Three Months Ended June 30, 2025 |  |  | Three Months Ended June 30, 2024 |
|  | Ondas Networks |  |  | OAS |  |  | Total |  |  | Ondas Networks |  |  | OAS |  |  | Total |
Product revenue |  | $ | - |  |  | $ | 3,605,020 |  |  | $ | 3,605,020 |  |  | $ | 22,484 |  |  | $ | - |  |  | $ | 22,484 |
Service and subscription revenue |  |  | 7,018 |  |  |  | 2,488,909 |  |  |  | 2,495,927 |  |  |  | - |  |  |  | 298,553 |  |  |  | 298,553 |
Development revenue |  |  | 172,441 |  |  |  | - |  |  |  | 172,441 |  |  |  | 636,814 |  |  |  | - |  |  |  | 636,814 |
Revenue, net |  |  | 179,459 |  |  |  | 6,093,929 |  |  |  | 6,273,388 |  |  |  | 659,298 |  |  |  | 298,553 |  |  |  | 957,851 |
Cost of goods sold |  |  | 446,242 |  |  |  | 2,495,076 |  |  |  | 2,941,318 |  |  |  | 573,483 |  |  |  | 575,263 |  |  |  | 1,148,746 |
Gross profit (loss) |  |  | (266,783 | ) |  |  | 3,598,853 |  |  |  | 3,332,070 |  |  |  | 85,815 |  |  |  | (276,710 | ) |  |  | (190,895 | )
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
General and administration |  |  | 771,461 |  |  |  | 3,735,396 |  |  |  | 4,506,857 |  |  |  | 1,438,503 |  |  |  | 2,198,512 |  |  |  | 3,637,015 |
Sales and marketing |  |  | 684,186 |  |  |  | 1,581,529 |  |  |  | 2,265,715 |  |  |  | 505,828 |  |  |  | 792,877 |  |  |  | 1,298,705 |
Research and development |  |  | 1,167,418 |  |  |  | 3,069,510 |  |  |  | 4,236,928 |  |  |  | 1,613,699 |  |  |  | 1,026,304 |  |  |  | 2,640,003 |
Segment operating loss |  |  | (2,889,848 | ) |  |  | (4,787,582 | ) |  |  | (7,677,430 | ) |  |  | (3,472,215 | ) |  |  | (4,294,403 | ) |  |  | (7,766,618 | )
Interest income |  |  | 1,783 |  |  |  | - |  |  |  | 1,783 |  |  |  | 12,360 |  |  |  | - |  |  |  | 12,360 |
Interest expense |  |  | (1,755,280 | ) |  |  | (88,209 | ) |  |  | (1,843,489 | ) |  |  | (3,750 | ) |  |  | (235,921 | ) |  |  | (239,671 | )
Other segment items |  |  | (17,954 | ) |  |  | (172,920 | ) |  |  | (190,874 | ) |  |  |  |  |  |  | 650,129 |  |  |  | 650,129 |
Segment loss before provision for income taxes |  | $ | (4,661,299 | ) |  | $ | (5,048,711 | ) |  | $ | (9,710,010 | ) |  | $ | (3,463,605 | ) |  | $ | (3,880,195 | ) |  | $ | (7,343,800 | )
Corporate operating expenses |  |  | - |  |  |  | - |  |  |  | (1,571,674 | ) |  |  | - |  |  |  | - |  |  |  | (536,972 | )
Elimination of intercompany interest |  |  | - |  |  |  | - |  |  |  | 1,267,893 |  |  |  | - |  |  |  | - |  |  |  | 228,988 |
Corporate interest income |  |  | - |  |  |  | - |  |  |  | 248,557 |  |  |  | - |  |  |  | - |  |  |  | 74,916 |
Corporate interest expense |  |  | - |  |  |  | - |  |  |  | (984,916 | ) |  |  | - |  |  |  | - |  |  |  | (692,868 | )
Loss before income taxes |  |  | - |  |  |  | - |  |  | $ | (10,750,150 | ) |  |  | - |  |  |  | - |  |  | $ | (8,269,736 | )
|  | Six Months Ended June 30, 2025 |  |  | Six Months Ended June 30, 2024 |
|  | Ondas Networks |  |  | OAS |  |  | Total |  |  | Ondas Networks |  |  | OAS |  |  | Total |
Product revenue |  | $ | - |  |  | $ | 6,828,993 |  |  | $ | 6,828,993 |  |  | $ | 24,758 |  |  | $ | - |  |  | $ | 24,758 |
Service and subscription revenue |  |  | 18,716 |  |  |  | 3,286,052 |  |  |  | 3,304,768 |  |  |  | 14,410 |  |  |  | 593,730 |  |  |  | 608,140 |
Development revenue |  |  | 387,809 |  |  |  | - |  |  |  | 387,809 |  |  |  | 931,962 |  |  |  | 18,000 |  |  |  | 949,962 |
Revenue, net |  |  | 406,525 |  |  |  | 10,115,045 |  |  |  | 10,521,570 |  |  |  | 971,130 |  |  |  | 611,730 |  |  |  | 1,582,860 |
Cost of goods sold |  |  | 827,890 |  |  |  | 4,873,060 |  |  |  | 5,700,950 |  |  |  | 990,101 |  |  |  | 1,178,636 |  |  |  | 2,168,737 |
Gross profit (loss) |  |  | (421,365 | ) |  |  | 5,241,985 |  |  |  | 4,820,620 |  |  |  | (18,971 | ) |  |  | (566,906 | ) |  |  | (585,877 | )
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
General and administration |  |  | 1,626,861 |  |  |  | 7,151,618 |  |  |  | 8,778,479 |  |  |  | 2,843,754 |  |  |  | 4,553,430 |  |  |  | 7,397,184 |
Sales and marketing |  |  | 1,433,180 |  |  |  | 3,262,645 |  |  |  | 4,695,825 |  |  |  | 1,152,285 |  |  |  | 1,454,000 |  |  |  | 2,606,285 |
Research and development |  |  | 2,390,669 |  |  |  | 5,305,739 |  |  |  | 7,696,408 |  |  |  | 3,551,860 |  |  |  | 2,601,118 |  |  |  | 6,152,978 |
Segment operating loss |  |  | (5,872,075 | ) |  |  | (10,478,017 | ) |  |  | (16,350,092 | ) |  |  | (7,566,870 | ) |  |  | (9,175,454 | ) |  |  | (16,742,324 | )
Interest income |  |  | 1,918 |  |  |  | - |  |  |  | 1,918 |  |  |  | 74,923 |  |  |  |  |  |  |  | 74,923 |
Interest expense |  |  | (2,732,908 | ) |  |  | (172,308 | ) |  |  | (2,905,216 | ) |  |  | (7,500 | ) |  |  | (427,259 | ) |  |  | (434,759 | )
Other segment items |  |  | (18,966 | ) |  |  | (330,769 | ) |  |  | (349,735 | ) |  |  | (33 | ) |  |  | 586,383 |  |  |  | 586,350 |
Segment loss before provision for income taxes |  | $ | (8,622,031 | ) |  | $ | (10,981,094 | ) |  | $ | (19,603,125 | ) |  | $ | (7,499,480 | ) |  | $ | (9,016,330 | ) |  | $ | (16,515,810 | )
Corporate operating expenses |  |  | - |  |  |  | - |  |  |  | (3,209,450 | ) |  |  | - |  |  |  | - |  |  |  | (688,461 | )
Elimination of intercompany interest |  |  | - |  |  |  | - |  |  |  | 1,530,152 |  |  |  | - |  |  |  | - |  |  |  | 417,963 |
Corporate interest income |  |  | - |  |  |  | - |  |  |  | 449,228 |  |  |  | - |  |  |  | - |  |  |  | 109,854 |
Corporate interest expense |  |  | - |  |  |  | - |  |  |  | (4,053,305 | ) |  |  | - |  |  |  | - |  |  |  | (1,469,366 | )
Loss before income taxes |  |  | - |  |  |  | - |  |  | $ | (24,886,500 | ) |  |  | - |  |  |  | - |  |  | $ | (18,145,820 | )
Additional segment information is set forth below as of and for the three and six months ended June 30, 2025 and 2024:
|  | Three Months Ended June 30, 2025 |  |  | Three Months Ended June 30, 2024 |
|  | Ondas Networks |  |  | OAS |  |  | Total |  |  | Ondas Networks |  |  | OAS |  |  | Total |
Depreciation and amortization |  | $ | 67,397 |  |  | $ | 1,176,876 |  |  | $ | 1,244,273 |  |  | $ | 32,631 |  |  | $ | 1,131,980 |  |  | $ | 1,164,611 |
Stock-based compensation |  | $ | 425,066 |  |  | $ | 1,753,627 |  |  | $ | 2,178,693 |  |  | $ | 190,606 |  |  | $ | 217,391 |  |  | $ | 407,997 |
Capital expenditures |  | $ | - |  |  | $ | 95,826 |  |  | $ | 95,826 |  |  | $ | 592,562 |  |  | $ | 501,589 |  |  | $ | 1,094,151 |
|  | Six Months Ended June 30, 2025 |  |  | Six Months Ended June 30, 2024 |
|  | Ondas Networks |  |  | OAS |  |  | Total |  |  | Ondas Networks |  |  | OAS |  |  | Total |
Total assets |  | $ | 43,220,366 |  |  | $ | 108,730,440 |  |  | $ | 151,950,806 |  |  | $ | 12,648,854 |  |  | $ | 69,872,082 |  |  | $ | 82,520,936 |
Goodwill |  | $ | - |  |  | $ | 27,751,921 |  |  | $ | 27,751,921 |  |  | $ | - |  |  | $ | 27,751,921 |  |  | $ | 27,751,921 |
Depreciation and amortization |  | $ | 144,704 |  |  | $ | 2,342,147 |  |  | $ | 2,486,851 |  |  | $ | 57,731 |  |  | $ | 2,282,162 |  |  | $ | 2,339,893 |
Stock-based compensation |  | $ | 858,620 |  |  | $ | 2,892,718 |  |  | $ | 3,751,338 |  |  | $ | 328,094 |  |  | $ | 349,456 |  |  | $ | 677,550 |
Capital expenditures |  | $ | - |  |  | $ | 266,693 |  |  | $ | 266,693 |  |  | $ | 957,382 |  |  | $ | 1,324,855 |  |  | $ | 2,282,237 |

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