Highlights:

Indeed, over the past two nights, Iranian ballistic missile usage appears to have decreased sharply. The UAE, which has received the brunt of Iranian ballistic missile attacks and has been relatively transparent about the number of missiles launched at its territory, reported 165 ballistic missiles during the first two days. In the subsequent two days, the UAE reported only nine and 12 ballistic missile launches at its territory, respectively.

However, given that the intensity of Iranian ballistic missile attacks appears to have declined sharply, very likely due to TEL attrition, the situation now appears far less alarming. While it may still be premature to dismiss Iran’s ballistic missile capabilities entirely, the Gulf states – with the possible exception of Bahrain, given its comparatively small arsenal – have reason to expect that they can endure the conflict without exhausting their missile interceptors. Even Bahrain will likely remain in a manageable position, assuming continued US support and missile defence deployments on its territory.

TELs are transporter erector-launchers, basically mobile missile launchers. The US is currently destroying as many as possible, and apparently it's having some effect.

As for drones:

Indeed, rather than ballistic missiles, long-range drones have exposed more gaps in the defences of the Gulf states. Neither the Gulf states nor the United States deploy optimised drone interceptor systems in sufficient numbers, relying instead on manned aircraft to intercept incoming Shahed-type drones. Nevertheless, individual drones have repeatedly penetrated their defences and struck military and symbolic targets, including the US embassy in Riyadh. Overall, this does not reflect well on US and allied militaries.