Ondas (NASDAQ:ONDS) Announces Quarterly Earnings Results

Ondas (NASDAQ:ONDS) released its quarterly earnings data on Thursday. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.88, FiscalAI reports. Ondas had a negative return on equity of 53.14% and a negative net margin of 270.37%.The firm had revenue of $50.12 million during the quarter, compared to analysts’ expectations of $39.36 million.

Here are the key takeaways from Ondas’ conference call:

• Ondas reported Q1 2026 revenue of $50.1 million, up tenfold year over year and above its prior target, with management saying the quarter was roughly equal to full-year 2025 revenue. The company also said product-company EBITDA turned positive two quarters ahead of plan.
• Backlog rose to more than $450 million after the World View and Mistral acquisitions closed, giving management visibility into 2026 and beyond. Ondas also lifted its full-year 2026 revenue outlook to at least $390 million from $375 million.
• The company highlighted strong operating momentum across its portfolio, including rapid growth at Airobotics, order accumulation at Sentrycs, and sizable tender wins at 4M Defense. Management said these results show the Ondas platform is driving cross-selling, faster market expansion, and accretive post-acquisition growth.
• Ondas emphasized its partnership with Palantir and the development of SkyWeaver, an AI-enabled mission-autonomy layer intended to fuse data across stratospheric, aerial, and ground systems. Management believes this could shift the business toward higher-value software and outcomes-based revenue while increasing switching costs for customers.
• Management said operating expenses will remain elevated in the near term because the company is still investing in leadership, infrastructure, and acquisitions. It also expects quarterly earnings to remain volatile due to non-cash warrant liability accounting, even though the company ended Q1 with about $1.48 billion in cash and short-term investments.

Ondas Trading Up 26.5%

Shares of NASDAQ ONDS traded up $2.35 during midday trading on Thursday, reaching $11.21. 243,551,580 shares of the stock were exchanged, compared to its average volume of 53,014,872. The stock has a 50 day moving average price of $9.91 and a 200-day moving average price of $9.56. The company has a current ratio of 4.84, a quick ratio of 4.68 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $5.49 billion, a P/E ratio of -16.73 and a beta of 2.56. Ondas has a 52-week low of $0.76 and a 52-week high of $15.28.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. IFP Advisors Inc grew its position in shares of Ondas by 231.4% in the third quarter. IFP Advisors Inc now owns 4,142 shares of the company’s stock valued at $32,000 after purchasing an additional 2,892 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in Ondas by 1,005.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,398 shares of the company’s stock valued at $43,000 after buying an additional 4,000 shares during the period. Federation des caisses Desjardins du Quebec increased its stake in shares of Ondas by 228.6% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 4,403 shares of the company’s stock valued at $43,000 after acquiring an additional 3,063 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in shares of Ondas during the 4th quarter worth about $47,000. Finally, State of Wyoming acquired a new stake in shares of Ondas in the fourth quarter worth approximately $51,000. 37.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Stifel Nicolaus upped their price target on shares of Ondas from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Glj Research set a $17.00 price objective on shares of Ondas in a report on Tuesday, March 10th. Northland Securities upped their target price on shares of Ondas from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, March 26th. Wall Street Zen cut shares of Ondas from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. Finally, LADENBURG THALM/SH SH upgraded shares of Ondas to a “strong-buy” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $17.25.

Key Ondas News

Here are the key news stories impacting Ondas this week:

• Positive Sentiment: Q1 revenue jumped to about $50.1 million, more than 10x higher than a year ago and well above estimates, signaling much faster growth than expected. Article Title
• Positive Sentiment: The company raised its 2026 revenue outlook to $390 million, reinforcing confidence that demand for its autonomous drone, wireless, and defense-related systems is accelerating. Article Title
• Positive Sentiment: Management said product companies turned adjusted EBITDA positive ahead of schedule, while backlog surged to $457 million and cash/investments reached $1.48 billion, suggesting stronger execution and financial flexibility. Article Title
• Neutral Sentiment: Heavy options activity and rising institutional interest indicate traders expect a large move, adding momentum to the stock but not changing the underlying fundamentals. Article Title
• Negative Sentiment: Despite the strong report, Ondas still shows negative margins and profitability remains a longer-term issue, which could temper enthusiasm if growth slows or execution slips. Article Title

Ondas Company Profile

Ondas Holdings, Inc (NASDAQ: ONDS) develops secure private wireless networking solutions and unmanned aircraft systems tailored to mission-critical industrial applications. Its Ondas Networks division offers the proprietary FullMAX platform, a long-range, high-bandwidth broadband network designed to support real-time data transmission, remote monitoring and IoT deployments across rail, maritime and infrastructure environments. The broadband platform integrates edge-to-cloud architecture to ensure operational resilience and regulatory compliance for transportation and utility operators.

The company’s Ondas Autonomous Systems segment builds heavy-lift cargo drones and uncrewed aircraft platforms for logistics, pipeline and infrastructure inspection, emergency response and other government and commercial use cases.