10-Q Filing

Ondas Inc. CIK: 1646188 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001213900-22-025400`
Period End Date	20220331
Filing Date	20220511
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	f10q0322_ondasholdings_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 81 Income Statement 34 Cash Flow Statement 62 Stockholders Equity 14

Balance Sheet 81 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$32.06M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$40.82M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$474.47K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.21M	USD	Point-in-time
Inventory, net	`InventoryNet`	$1.18M	USD	Point-in-time
Inventory, net	`InventoryNet`	$1.31M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.88M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.45M	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$44.66M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$35.72M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.03M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.55M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Common stock par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Goodwill	`Goodwill`	$45.03M	USD	Point-in-time
Common stock par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Goodwill	`Goodwill`	$45.03M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$24.32M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	116.67M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$25.17M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	116.67M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	40.99M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	40.99M	shares	Point-in-time
Long-term equity investment	`LongTermInvestments`	$500.00K	USD	Point-in-time
Long-term equity investment	`LongTermInvestments`	$500.00K	USD	Point-in-time
Lease deposits	`DeferredCostsLeasingNetNoncurrent`	$218.21K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.99M	shares	Point-in-time
Lease deposits	`DeferredCostsLeasingNetNoncurrent`	$218.21K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.99M	shares	Point-in-time
Operating lease right of use assets	`OperatingLeaseRightOfUseAsset`	$3.64M	USD	Point-in-time
Operating lease right of use assets	`OperatingLeaseRightOfUseAsset`	$836.02K	USD	Point-in-time
Total other assets	`OtherAssetsNoncurrent`	$73.70M	USD	Point-in-time
Total other assets	`OtherAssetsNoncurrent`	$71.75M	USD	Point-in-time
Total assets	`Assets`	$117.44M	USD	Point-in-time
Total assets	`Assets`	$111.97M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.40M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.41M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$861.98K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$550.52K	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$1.74M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$1.15M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$341.47K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$165.03K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$512.40K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.34M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.62M	USD	Point-in-time
Notes payable	`LongTermNotesPayable`	$300.00K	USD	Point-in-time
Notes payable	`LongTermNotesPayable`	$300.00K	USD	Point-in-time
Accrued interest	`AccountsPayableAndAccruedLiabilitiesNoncurrent`	$40.15K	USD	Point-in-time
Accrued interest	`AccountsPayableAndAccruedLiabilitiesNoncurrent`	$39.90K	USD	Point-in-time
Operating lease liabilities, net of current	`OperatingLeaseLiabilityNoncurrent`	$241.68K	USD	Point-in-time
Operating lease liabilities, net of current	`OperatingLeaseLiabilityNoncurrent`	$2.73M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$3.07M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$581.83K	USD	Point-in-time
Total liabilities	`Liabilities`	$5.21M	USD	Point-in-time
Total liabilities	`Liabilities`	$8.42M	USD	Point-in-time
Commitments and Contingencies (Note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock - par value $0.0001; 5,000,000 shares authorized at March 31, 2022 and December 31, 2021, respectively, and none issued or outstanding at March 31, 2022 and December 31, 2021, respectively	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock - par value $0.0001; 5,000,000 shares authorized at March 31, 2022 and December 31, 2021, respectively, and none issued or outstanding at March 31, 2022 and December 31, 2021, respectively	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, Series A - par value $0.0001; 5,000,000 shares authorized at March 31, 2022 and December 31, 2021, respectively, and none issued or outstanding at March 31, 2022 and December 31, 2021, respectively	`PreferredStockValue1`	-	USD	Point-in-time
Preferred stock, Series A - par value $0.0001; 5,000,000 shares authorized at March 31, 2022 and December 31, 2021, respectively, and none issued or outstanding at March 31, 2022 and December 31, 2021, respectively	`PreferredStockValue1`	-	USD	Point-in-time
Common stock - par value $0.0001; 116,666,667 shares authorized; 40,990,604 issued and outstanding at March 31, 2022 and December 31, 2021, respectively	`CommonStockValue`	$4.10K	USD	Point-in-time
Common stock - par value $0.0001; 116,666,667 shares authorized; 40,990,604 issued and outstanding at March 31, 2022 and December 31, 2021, respectively	`CommonStockValue`	$4.10K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$193.83M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$192.50M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-80.27M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-90.28M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$15.08M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$14.71M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$103.55M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$112.23M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$117.44M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$111.97M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Revenues, net	`Revenues`	$410.20K	USD	1 Quarter
Revenues, net	`Revenues`	$1.16M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$555.35K	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$287.93K	USD	1 Quarter
Gross profit	`GrossProfit`	$609.41K	USD	1 Quarter
Gross profit	`GrossProfit`	$122.27K	USD	1 Quarter
General and administration	`GeneralAndAdministrativeExpense`	$2.41M	USD	1 Quarter
General and administration	`GeneralAndAdministrativeExpense`	$5.52M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$681.66K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$187.37K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$894.58K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$3.91M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$10.11M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.49M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-2.88M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-9.99M	USD	1 Quarter
Other expense	`OtherIncome`	$-4.39K	USD	1 Quarter
Other expense	`OtherIncome`	$-34.18K	USD	1 Quarter
Interest income	`FairValueOfDerivativeLiability`	-	USD	1 Quarter
Interest income	`FairValueOfDerivativeLiability`	$-32.00	USD	1 Quarter
Interest expense	`InterestExpense`	$222.59K	USD	1 Quarter
Interest expense	`InterestExpense`	$14.67K	USD	1 Quarter
Total other expense	`OtherNonoperatingIncomeExpense`	$-256.73K	USD	1 Quarter
Total other expense	`OtherNonoperatingIncomeExpense`	$-19.07K	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-3.14M	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-10.01M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.14M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-10.01M	USD	1 Quarter
Net loss per share - basic and diluted (in Dollars per share)	`EarningsPerShareBasic`	$-0.12	USD	1 Quarter
Net loss per share - basic and diluted (in Dollars per share)	`EarningsPerShareBasic`	$-0.24	USD	1 Quarter
Weighted average number of common shares outstanding, basic and diluted (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	26.67M	shares	1 Quarter
Weighted average number of common shares outstanding, basic and diluted (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	40.99M	shares	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-3.14M	USD	1 Quarter
Net loss	`ProfitLoss`	$-10.01M	USD	1 Quarter
Depreciation	`Depreciation`	$25.14K	USD	1 Quarter
Depreciation	`Depreciation`	$39.63K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfDebtDiscountPremium`	$60.80K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$12.75K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$855.33K	USD	1 Quarter
Amortization of right of use asset	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$168.90K	USD	1 Quarter
Amortization of right of use asset	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$51.06K	USD	1 Quarter
Loss on Intellectual Property	`ImpairmentOfIntangibleAssetsExcludingGoodwill`	$34.18K	USD	1 Quarter
Loss on Intellectual Property	`ImpairmentOfIntangibleAssetsExcludingGoodwill`	-	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.35M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.33M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-28.42K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-738.72K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$127.26K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$142.00	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$374.45K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$377.28K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-13.19K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-433.40K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-170.93K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-108.85K	USD	1 Quarter
Operating lease liability	`IncreaseDecreaseOperatingLeaseLiabilities`	$-56.17K	USD	1 Quarter
Operating lease liability	`IncreaseDecreaseOperatingLeaseLiabilities`	$-126.16K	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-515.88K	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$592.31K	USD	1 Quarter
Net cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.07M	USD	1 Quarter
Net cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-7.10M	USD	1 Quarter
Patent costs	`PaymentsToAcquireIntangibleAssets`	-	USD	1 Quarter
Patent costs	`PaymentsToAcquireIntangibleAssets`	$9.08K	USD	1 Quarter
Purchase of equipment	`PaymentsToAcquireInProcessResearchAndDevelopment`	$1.55M	USD	1 Quarter
Purchase of equipment	`PaymentsToAcquireInProcessResearchAndDevelopment`	$58.28K	USD	1 Quarter
Security deposit	`CashDisbursementOnNoteReceivable`	-	USD	1 Quarter
Security deposit	`CashDisbursementOnNoteReceivable`	$90.00K	USD	1 Quarter
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.56M	USD	1 Quarter
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-148.28K	USD	1 Quarter
Proceeds from exercise of warrants	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Proceeds from exercise of warrants	`ProceedsFromStockOptionsExercised`	$1.28M	USD	1 Quarter
Payments for deferred offering costs	`PaymentsForDeferredOfferingCosts`	$-90.24K	USD	1 Quarter
Payments for deferred offering costs	`PaymentsForDeferredOfferingCosts`	$-99.96K	USD	1 Quarter
Net cash flows provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.18M	USD	1 Quarter
Net cash flows provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-90.24K	USD	1 Quarter
Decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.03M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-8.75M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$26.06M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$24.03M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$40.82M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$32.06M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$26.06M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$24.03M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$40.82M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$32.06M	USD	Point-in-time
Cash paid for interest	`IncomeTaxesPaidNet`	$4.00K	USD	1 Quarter
Cash paid for interest	`IncomeTaxesPaidNet`	$11.71K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Forgiveness of accrued officers salary	`ForgivenessOfAccruedOfficersSalary`	$135.10K	USD	1 Quarter
Forgiveness of accrued officers salary	`ForgivenessOfAccruedOfficersSalary`	-	USD	1 Quarter
Operating leases right-of-use assets obtained in exchange for lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	-	USD	1 Quarter
Operating leases right-of-use assets obtained in exchange for lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$2.93M	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$15.08M	USD	Point-in-time
Balance	`StockholdersEquity`	$14.71M	USD	Point-in-time
Balance	`StockholdersEquity`	$103.55M	USD	Point-in-time
Balance	`StockholdersEquity`	$112.23M	USD	Point-in-time
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$1.33M	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$1.35M	USD	1 Quarter
Shares issued in exercise of warrants	`StockIssuedDuringPeriodValueOther`	$1.28M	USD	1 Quarter
Forgiveness of accrued officers salary	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$135.10K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.14M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-10.01M	USD	1 Quarter
Balance	`StockholdersEquity`	$15.08M	USD	Point-in-time
Balance	`StockholdersEquity`	$14.71M	USD	Point-in-time
Balance	`StockholdersEquity`	$103.55M	USD	Point-in-time
Balance	`StockholdersEquity`	$112.23M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.