Ondas Holdings Inc. designs, develops, manufactures, sells, and supports the FullMAX software-defined radio (SDR) platform in the United States and internationally. The company is headquartered in Nantucket, Massachusetts.
| Revenue (TTM) | $174.10M |
| Gross Profit (TTM) | $76.12M |
| EBITDA | $-180.56M |
| Operating Margin | -166.30% |
| Return on Equity | 19.30% |
| Return on Assets | -8.37% |
| Revenue/Share (TTM) | $0.44 |
| Book Value | $2.96 |
| Price-to-Book | 2.78 |
| Price-to-Sales (TTM) | 25.01 |
| EV/Revenue | 17.17 |
| EV/EBITDA | 17.75 |
| Quarterly Earnings Growth (YoY) | 0.00% |
| Quarterly Revenue Growth (YoY) | 1235.00% |
| Shares Outstanding | $571.46M |
| Float | $533.41M |
| % Insiders | 1.80% |
| % Institutions | 58.25% |
Volatility is currently contracting
Ondas has lifted its 2026 revenue outlook as Q2 sales and backlog have surged, putting backlog conversion and margin progress at the center of execution.
ONDS' 18.2% pullback comes as revenues, backlog and orders surge, but widening losses, cash burn and M&A integration risks still cloud the value case.
ONDS pairs explosive 2026 revenue growth and a $757 million backlog with widening losses, cash burn and integration risks that test its path to profit.
Ondas' shares are down 21.9% YTD despite surging revenues and backlog, as losses, cash burn and M&A execution risks keep investors cautious.
The U.S. Army just crossed a threshold it has never crossed before, and one battered defense stock is suddenly the center of a sector-wide scramble to figure out what comes next.
Q2 revenue surged nearly 13-fold to $83.8 million, while pro forma organic growth remained exceptionally strong at approximately 85%. Pro forma backlog reached $757 million, supported by $175 million of Q2 orders and another $105 million entering Q3. Reaching the $537.5 million guidance midpoint requires approximately $256 million of Q4 revenue, implying roughly 74% sequential growth.
Drone stocks are giving back a meaningful chunk of their August advance at midday Friday, even as broad equities push higher.
The drone complex is snapping back this morning after Monday's bruising session, and the ordering of the bounce mirrors the ordering of the selloff almost exactly. Higher-beta names are leading.
Ondas delivered a huge second quarter. Revenue rose more than thirteen times from a year ago, while pro forma backlog reached $757 million. The opportunity is real. Ondas has meaningful defense orders, exposure to a major United States drone procurement cycle, and a much broader product lineup after several acquisitions. My concern is what all of that growth will be worth per share. The share count has climbed quickly, adjusted EBITDA losses widened, and another 45 million DZYNE shares are due in Jan 2027.
ONDS pairs surging revenues, a $613M backlog and a lower valuation with integration risks, while RCAT faces a steep second-half ramp.
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