Ondas (ONDS)
Market Price (4/7/2026): $9.54 | Market Cap: $3.6 BilSector: Information Technology | Industry: Communications Equipment
Ondas (ONDS)
Market Price (4/7/2026): $9.54Market Cap: $3.6 BilSector: Information TechnologyIndustry: Communications Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -15% Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 605% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -30% Megatrend and thematic driversMegatrends include 5G & Advanced Connectivity, and Advanced Aviation & Space. Themes include Telecom Infrastructure, Network Equipment, Show more. | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -58 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -115% Expensive valuation multiplesP/SPrice/Sales ratio is 71x Stock price has recently run up significantly12M Rtn12 month market price return is 934% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 32% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -76%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -81% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -8.0% High stock price volatilityVol 12M is 130% Significant short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 41% Key risksONDS key risks include [1] persistent unprofitability and high cash burn, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -15% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 605% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -30% |
| Megatrend and thematic driversMegatrends include 5G & Advanced Connectivity, and Advanced Aviation & Space. Themes include Telecom Infrastructure, Network Equipment, Show more. |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -58 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -115% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 71x |
| Stock price has recently run up significantly12M Rtn12 month market price return is 934% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 32% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -76%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -81% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -8.0% |
| High stock price volatilityVol 12M is 130% |
| Significant short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 41% |
| Key risksONDS key risks include [1] persistent unprofitability and high cash burn, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. Mixed Financial Performance with Strong Revenue Growth Offset by Significant Losses. Ondas reported a substantial 629% year-over-year revenue increase for Q4 2025, reaching $30.1 million, and subsequently raised its full-year 2026 revenue target to at least $375 million, representing a nearly 7-fold increase from 2025. This strong top-line growth and optimistic future guidance acted as a significant positive catalyst. However, these gains were counterbalanced by a considerable net loss of $101 million in Q4 2025, primarily due to an $82.2 million non-cash charge related to warrant revaluation. Furthermore, the company reported an adjusted EBITDA loss of $9.9 million for the quarter and missed analysts' EPS expectations by 800%, posting -$0.36 against an estimated -$0.04. These profitability concerns dampened investor enthusiasm, leading to a largely sideways movement.
2. Strategic Acquisitions and Expansion into Multi-Domain ISR. Ondas has actively pursued a strategy of strategic acquisitions to broaden its market presence and product offerings. On April 1, 2026, the company completed the acquisition of World View Enterprises, establishing an AI-enabled multi-domain intelligence, surveillance, and reconnaissance (ISR) platform across stratosphere, air, and ground. Additionally, Ondas acquired INDO Earth Moving Ltd., which brought a $140 million military contract. These acquisitions are projected to contribute approximately $230 million to the 2026 revenue guidance. While these moves position Ondas for significant long-term growth in the defense and security sectors, the integration challenges and the acquisition-driven nature of a large portion of the projected revenue may have introduced a degree of investor caution, balancing out the positive sentiment.
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Stock Movement Drivers
Fundamental Drivers
The -2.5% change in ONDS stock from 12/31/2025 to 4/6/2026 was primarily driven by a -31.7% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 12312025 | 4062026 | Change |
|---|---|---|---|
| Stock Price ($) | 9.76 | 9.52 | -2.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 25 | 51 | 105.0% |
| P/S Multiple | 102.5 | 71.5 | -30.3% |
| Shares Outstanding (Mil) | 260 | 381 | -31.7% |
| Cumulative Contribution | -2.5% |
Market Drivers
12/31/2025 to 4/6/2026| Return | Correlation | |
|---|---|---|
| ONDS | -2.5% | |
| Market (SPY) | -5.4% | 31.9% |
| Sector (XLK) | -5.0% | 43.2% |
Fundamental Drivers
The 23.3% change in ONDS stock from 9/30/2025 to 4/6/2026 was primarily driven by a 214.5% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 9302025 | 4062026 | Change |
|---|---|---|---|
| Stock Price ($) | 7.72 | 9.52 | 23.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 16 | 51 | 214.5% |
| P/S Multiple | 72.1 | 71.5 | -0.9% |
| Shares Outstanding (Mil) | 151 | 381 | -60.4% |
| Cumulative Contribution | 23.3% |
Market Drivers
9/30/2025 to 4/6/2026| Return | Correlation | |
|---|---|---|
| ONDS | 23.3% | |
| Market (SPY) | -2.9% | 31.9% |
| Sector (XLK) | -2.8% | 36.8% |
Fundamental Drivers
The 789.7% change in ONDS stock from 3/31/2025 to 4/6/2026 was primarily driven by a 605.3% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 3312025 | 4062026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.07 | 9.52 | 789.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 7 | 51 | 605.3% |
| P/S Multiple | 11.8 | 71.5 | 504.4% |
| Shares Outstanding (Mil) | 79 | 381 | -79.1% |
| Cumulative Contribution | 789.7% |
Market Drivers
3/31/2025 to 4/6/2026| Return | Correlation | |
|---|---|---|
| ONDS | 789.7% | |
| Market (SPY) | 16.3% | 30.4% |
| Sector (XLK) | 33.1% | 32.9% |
Fundamental Drivers
The 781.5% change in ONDS stock from 3/31/2023 to 4/6/2026 was primarily driven by a 2286.4% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 3312023 | 4062026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.08 | 9.52 | 781.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2 | 51 | 2286.4% |
| P/S Multiple | 21.9 | 71.5 | 226.1% |
| Shares Outstanding (Mil) | 43 | 381 | -88.7% |
| Cumulative Contribution | 781.5% |
Market Drivers
3/31/2023 to 4/6/2026| Return | Correlation | |
|---|---|---|
| ONDS | 781.5% | |
| Market (SPY) | 63.3% | 28.6% |
| Sector (XLK) | 84.7% | 28.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ONDS Return | -28% | -76% | -4% | 67% | 281% | -2% | 3% |
| Peers Return | 54% | -14% | 11% | 20% | 69% | 24% | 271% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -4% | 75% |
Monthly Win Rates [3] | |||||||
| ONDS Win Rate | 33% | 42% | 33% | 25% | 67% | 50% | |
| Peers Win Rate | 68% | 38% | 50% | 57% | 63% | 80% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| ONDS Max Drawdown | -39% | -78% | -79% | -64% | -74% | -16% | |
| Peers Max Drawdown | -3% | -29% | -28% | -26% | -19% | -3% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: VSAT, ADTN, CSCO, ANET, MSI.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/6/2026 (YTD)
How Low Can It Go
| Event | ONDS | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -97.8% | -25.4% |
| % Gain to Breakeven | 4483.3% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2018 Correction | ||
| % Loss | -23.1% | -19.8% |
| % Gain to Breakeven | 30.0% | 24.7% |
| Time to Breakeven | 26 days | 120 days |
Compare to VSAT, ADTN, CSCO, ANET, MSI
In The Past
Ondas's stock fell -97.8% during the 2022 Inflation Shock from a high on 2/16/2021. A -97.8% loss requires a 4483.3% gain to breakeven.
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About Ondas (ONDS)
AI Analysis | Feedback
A specialized Ericsson or Nokia for private, mission-critical industrial wireless networks.
A Boston Dynamics for fully autonomous industrial inspection drones.
AI Analysis | Feedback
- FullMAX SDR Platform: A software-defined radio platform that enables secure and reliable industrial-grade connectivity for mission-critical applications.
- FullMAX Base Station and Remote Radios: Hardware components provided as part of the FullMAX SDR platform for enhanced connectivity.
- Scout Drone: An AI-powered drone equipped with imaging payloads for various industrial and critical infrastructure applications.
- ScoutBase: A ruggedized base station for drones, facilitating housing, charging, data processing, and cloud transfer.
- ScoutView: An analytics and user interface software package designed for American Robotics' drone and data solutions.
AI Analysis | Feedback
Ondas (ONDS) sells its products and services primarily to other companies. Its major customers are critical infrastructure providers and applications, which include:
- Rail operators
- Commercial and industrial drone operators
- Electric and gas utilities
- Water and wastewater utilities
- Oil and gas producers and pipeline operators
- Critical infrastructure applications in homeland security and defense
- Critical infrastructure applications in transportation markets
AI Analysis | Feedback
nullAI Analysis | Feedback
Eric Brock, Chairman, President and Chief Executive Officer
Mr. Brock is the founder of Ondas and has served as its Chairman and Chief Executive Officer since 2018, adding the President role in June 2023. He is an entrepreneur with over 20 years of global banking and investing experience. Prior to founding Ondas, he was a founding Partner and Portfolio Manager with Clough Capital Partners, a Boston-based investment firm, from 2000 to 2017. Mr. Brock also previously worked as an investment banker at Bear, Stearns & Co. and an accountant at Ernst & Young, LLP. He holds an MBA from the University of Chicago and a BS from Boston College.
Neil Laird, Chief Financial Officer and Treasurer
Mr. Laird has served as the CFO of Ondas since June 2024, having provided accounting and financial services to the company since 2021. He is an experienced executive who has led finance teams at both public and private companies, with expertise in mergers and acquisitions, financing, international operations, and SEC reporting. Since 2016, he has worked with startup high-technology companies, assisting them with accounting systems, procedures, and obtaining financing. From 1999 to 2016, Mr. Laird was CFO at several Silicon Valley-based companies, including ADAC Laboratories, SumTotal Systems, and Mobileum. He is a UK Chartered Accountant and holds an MA in Economics from Cambridge University.
Patrick Huston, Chief Operating Officer, General Counsel and Secretary
Mr. Huston leads operational execution, integration, and governance across Ondas' autonomous systems business. He is a retired U.S. Army Brigadier General with over 35 years of experience in national security operations, policy, and law. His military career included roles as a Commanding General and other leadership and combat positions with the 101st Airborne Division, Joint Special Operations Command, and U.S. Central Command. He holds an engineering degree from West Point and graduate degrees in both law and strategy.
Oshri Lugassy, Co-CEO of Ondas Autonomous Systems
Mr. Lugassy is responsible for leading the advancement and deployment of autonomous drone and robotics solutions for industrial and defense applications within Ondas Autonomous Systems. He brings decades of experience in defense technology, strategic leadership, and global business development to his role.
Meir Kliner, President of Ondas Autonomous Systems
Mr. Kliner is the CEO and founder of Airobotics, a company acquired by Ondas, and brings over 20 years of managerial experience with expertise in the development of drones for various industries. He now serves as the President of Ondas Autonomous Systems.
AI Analysis | Feedback
The key risks for Ondas Holdings Inc. (ONDS) revolve around its financial viability, the effective execution of its aggressive growth strategy, and the inherent challenges of its competitive and regulated markets.
- Unprofitability and Financial Execution / Capital Structure / Dilution Risk: Ondas has consistently incurred significant operating losses for many years and remains deeply unprofitable. The company heavily relies on equity financing to fund its rapid expansion, which has led to substantial shareholder dilution. Despite a fortified balance sheet with significant cash, its high valuation multiples are considered justifiable only by "sustained hyper-growth". Failure to achieve consistent profitability or effectively convert its order backlog into revenue poses a primary financial execution risk.
- Execution Risk and Integration of Acquisitions / Scaling Challenges: Ondas is undertaking rapid expansion, particularly within its Ondas Autonomous Systems (OAS) division, and has made numerous acquisitions. This aggressive growth strategy introduces considerable "execution and commercialization risks" as well as "integration overload risk". If these strategic acquisitions falter or fail to integrate effectively, it could lead to "management chaos" and significantly impede the company's growth trajectory due to delays in commercialization or scaling production.
- High Valuation, Volatility, and Competitive & Regulatory Pressures: Ondas's stock trades at a substantial premium, with a forward price-to-sales ratio significantly higher than the industry median, implying that its valuation is predicated on "enormous potential for future growth". This elevated valuation, coupled with the company's high beta (suggesting significant price fluctuations), exposes investors to considerable volatility and heightened downside risk. Furthermore, as a technology hardware company operating in the drone and private wireless markets, Ondas faces intense competition and risks associated with rapid technological changes. The company's operations are also subject to "intense regulatory processes" in the drone industry, where changes in policies or delays in approvals could adversely impact its performance.
AI Analysis | Feedback
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The addressable markets for Ondas Holdings Inc.'s main products and services are substantial and are experiencing significant growth.
Ondas Networks (Private Wireless and Software Defined Radio Solutions)
The global private wireless market, which includes solutions like Ondas's FullMAX software defined radio (SDR) platform for mission-critical applications, was valued at approximately USD 6.27 billion in 2024. This market is projected to grow significantly, reaching nearly USD 32.86 billion by 2032, with a compound annual growth rate (CAGR) of 23% from 2025. Another estimate places the private wireless market at USD 6.287 billion in 2024, growing to USD 32.30 billion by 2032 at a CAGR of 22.7%. Furthermore, global spending on private LTE and 5G network infrastructure for vertical industries is anticipated to exceed USD 6 billion by the end of 2027, growing at a CAGR of approximately 20% between 2024 and 2027. North America holds the largest share of the global private wireless market. More specifically for private LTE, North America dominated with a 37.50% share in 2025.
The broader global software defined radio (SDR) market, which encompasses the technology behind Ondas's FullMAX platform, was estimated at USD 30.09 billion in 2024. It is projected to reach approximately USD 68.78 billion by 2034, expanding at a CAGR of 8.62% from 2025. North America accounted for the largest market share of 35% in 2024 within the global software defined radio market.
American Robotics (Drone and Automated Data Solutions)
The global industrial drones market, which includes the Scout Drone and automated data solutions offered by American Robotics, was valued at USD 15.3 billion in 2023. This market is estimated to grow at a CAGR of 6.5% during the forecast period, reaching USD 26.9 billion by 2032. Another report projects the industrial drone market to reach USD 6.01 billion by 2029, up from USD 3.56 billion in 2024, at a CAGR of 11.0%. North America is estimated to hold the largest market share in 2024 for industrial drones.
More specifically for drone inspection and monitoring, which is a key application for American Robotics, the global inspection drone market size was valued at USD 3.37 billion in 2024. It is projected to grow to USD 12.34 billion by 2032, exhibiting a CAGR of 17.6%. North America dominated this market with a 34.72% share in 2024, with the U.S. alone contributing over 90.59% of the regional share. Another source states the inspection drones market was valued at USD 11.75 billion in 2025 and is estimated to grow to USD 37.05 billion by 2031, at a CAGR of 21.08%.
The global autonomous drone market, highly relevant for American Robotics' AI-powered drones and automated operations, was valued at USD 8.6 billion in 2024. It is projected to grow at a CAGR of 17.8% from 2025 to 2030, reaching USD 27 billion by 2030. North America holds the largest share of the global autonomous drone market, accounting for over 35% of total revenue.
AI Analysis | Feedback
Expected Drivers of Future Revenue Growth for Ondas Holdings Inc. (ONDS)
Ondas Holdings Inc. (ONDS) is anticipated to drive future revenue growth over the next 2-3 years through several key strategies and market trends:
- Growth in Demand for Autonomous Drone Systems and Counter-UAS Technologies: Ondas Autonomous Systems (OAS), the company's flagship division, is experiencing exponential growth in demand for drone defense systems and autonomous monitoring of industrial facilities. This includes increased deployments of platforms like Iron Drone Raider and Optimus, as well as expanding opportunities in the Counter-Unmanned Aerial Systems (C-UAS) segment and ground robotics. Geopolitical tensions are also contributing to increased defense spending, further benefiting the OAS segment. The global drone services market is projected for substantial growth, with military organizations increasingly adopting a "Drone-as-a-Service" model.
- Strategic Partnerships and Market Expansion: The company's strategic partnership with Palantir (PLTR) is expected to be a significant driver. This collaboration has already increased demand for Ondas' kinetic drone interception technology and positions Ondas as a "gold standard" for AI-driven autonomous defense systems. This partnership is anticipated to enhance operational efficiencies, scale OAS's operations, support revenue growth, and broaden its customer base, potentially making Ondas a key player in Palantir's defense contracts.
- Inorganic Growth Through Strategic Acquisitions: Ondas has actively pursued an aggressive growth strategy through strategic acquisitions to enhance its technological capabilities and expand its market reach. Recent acquisitions, such as Roboteam, Sentrycs, and Apeiro Motion, are contributing to revenue and broadening the company's offerings in counter-UAS solutions, autonomous ground robotics, and other multi-domain robotics capabilities. The company expects significant revenue increases from its acquisition pipeline.
- Increased Adoption and Deployment of Ondas Networks' Private Wireless Solutions: The Ondas Networks segment, with its FullMAX software-defined radio (SDR) platform, is focused on providing secure broadband networks for critical infrastructure. This includes continued strategic value building and progress in private wireless network technologies for rail operations, as well as the rollout of 900-megahertz networks, which are expected to unlock further revenue streams in markets such as electric and gas utilities, water and wastewater utilities, and oil and gas.
AI Analysis | Feedback
Share Issuance
- In January 2026, Ondas completed a registered direct offering that generated approximately $959.2 million in net proceeds through the sale of common stock and pre-funded warrants. This offering included warrants that could potentially raise an additional $3.4 billion if fully exercised.
- During October 2025, Ondas closed an offering of equity and pre-funded warrants, resulting in approximately $407.2 million in net proceeds, with warrants potentially yielding an additional $1.5 billion upon exercise.
- Ondas conducted several public offerings in 2025, including a $200 million offering of common stock in September, a $150 million equity financing round in August, and a $40 million public offering in June.
Inbound Investments
- Ondas received approximately $959.2 million in net proceeds from a registered direct offering to an institutional investor in January 2026.
- In October 2025, the company secured approximately $407.2 million in net proceeds from an offering of equity and pre-funded warrants, reflecting significant institutional interest.
- In August 2025, Ondas successfully raised $150 million through an equity financing round to support its growth initiatives.
Outbound Investments
- In March 2026, Ondas made a $10 million strategic investment in World View Enterprises, Inc. to enhance multi-domain intelligence, surveillance, and reconnaissance (ISR) solutions.
- Ondas made several acquisitions in late 2025 and early 2026, including INDO Earth Moving Ltd. in March 2026, Rotron Aerospace Ltd. in March 2026, Sentrycs in November 2025, and a controlling interest in Insight Intelligent Sensors in October 2025.
- The company made strategic investments in Kopin Corporation for $41 million in October 2025 and an additional $14 million investment in Safe Pro Group Inc. in October 2025, following an earlier investment in August 2025.
Capital Expenditures
- Ondas Holdings Inc. invested $171,000 in capital expenditures during Q3 2025, representing a 78.0% increase from the previous quarter.
- In Q3 2025, capital expenditures totaled $1.6 million, which consumed a significant portion of the company's operating cash flow.
- Net proceeds from a $40 million public offering in June 2025 were intended for general corporate purposes, including funding capital expenditures and providing working capital.
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Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 66.27 |
| Mkt Cap | 40.2 |
| Rev LTM | 6,811 |
| Op Inc LTM | 1,471 |
| FCF LTM | 1,598 |
| FCF 3Y Avg | 1,085 |
| CFO LTM | 2,202 |
| CFO 3Y Avg | 1,698 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 13.2% |
| Rev Chg 3Y Avg | 16.5% |
| Rev Chg Q | 16.2% |
| QoQ Delta Rev Chg LTM | 4.0% |
| Op Mgn LTM | 11.1% |
| Op Mgn 3Y Avg | 7.9% |
| QoQ Delta Op Mgn LTM | 0.5% |
| CFO/Rev LTM | 23.4% |
| CFO/Rev 3Y Avg | 22.1% |
| FCF/Rev LTM | 17.1% |
| FCF/Rev 3Y Avg | 10.3% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 40.2 |
| P/S | 5.8 |
| P/EBIT | 22.5 |
| P/E | 3.9 |
| P/CFO | 15.9 |
| Total Yield | -0.7% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 1.2% |
| D/E | 0.1 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -0.2% |
| 3M Rtn | 11.3% |
| 6M Rtn | 7.6% |
| 12M Rtn | 85.1% |
| 3Y Rtn | 65.7% |
| 1M Excs Rtn | 1.1% |
| 3M Excs Rtn | 14.8% |
| 6M Excs Rtn | 13.1% |
| 12M Excs Rtn | 36.7% |
| 3Y Excs Rtn | 6.0% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Ondas Autonomous Systems (OAS) | 9 | 0 | 0 | ||
| Ondas Networks | 7 | 2 | 3 | 2 | |
| Product revenue | 0 | ||||
| Service revenue | 0 | ||||
| Total | 16 | 2 | 3 | 2 | 0 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Corporate operating expenses | -5 | ||||
| Ondas Networks | -13 | ||||
| Ondas Autonomous Systems (OAS) | -22 | ||||
| Total | -40 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Ondas Autonomous Systems (OAS) | 73 | 64 | 72 | ||
| Ondas Networks | 19 | 34 | 45 | 29 | |
| Total | 92 | 98 | 117 | 29 |
Price Behavior
| Market Price | $9.52 | |
| Market Cap ($ Bil) | 3.6 | |
| First Trading Date | 11/15/2018 | |
| Distance from 52W High | -32.0% | |
| 50 Days | 200 Days | |
| DMA Price | $10.22 | $7.42 |
| DMA Trend | up | down |
| Distance from DMA | -6.9% | 28.3% |
| 3M | 1YR | |
| Volatility | 104.1% | 129.3% |
| Downside Capture | 1.81 | 1.28 |
| Upside Capture | 274.46 | 410.90 |
| Correlation (SPY) | 30.0% | 27.6% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 3.31 | 3.66 | 2.49 | 3.33 | 2.08 | 2.48 |
| Up Beta | -1.31 | 2.11 | 1.96 | 4.70 | 1.39 | 2.14 |
| Down Beta | 3.00 | 1.42 | 1.10 | 1.82 | 1.87 | 2.27 |
| Up Capture | 596% | 688% | 546% | 797% | 2727% | 16811% |
| Bmk +ve Days | 7 | 16 | 27 | 65 | 139 | 424 |
| Stock +ve Days | 8 | 19 | 30 | 59 | 134 | 351 |
| Down Capture | 263% | 322% | 212% | 227% | 148% | 113% |
| Bmk -ve Days | 12 | 23 | 33 | 58 | 110 | 323 |
| Stock -ve Days | 14 | 23 | 33 | 67 | 116 | 387 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ONDS | |
|---|---|---|---|---|
| ONDS | 765.0% | 130.4% | 2.25 | - |
| Sector ETF (XLK) | 31.3% | 27.0% | 0.98 | 32.9% |
| Equity (SPY) | 15.3% | 19.0% | 0.64 | 30.5% |
| Gold (GLD) | 49.6% | 28.0% | 1.44 | 10.8% |
| Commodities (DBC) | 15.5% | 17.7% | 0.74 | 17.9% |
| Real Estate (VNQ) | 3.1% | 16.5% | 0.01 | 20.4% |
| Bitcoin (BTCUSD) | -19.0% | 44.0% | -0.35 | 29.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ONDS | |
|---|---|---|---|---|
| ONDS | 0.5% | 113.3% | 0.52 | - |
| Sector ETF (XLK) | 16.6% | 24.7% | 0.60 | 30.5% |
| Equity (SPY) | 11.7% | 17.0% | 0.53 | 30.0% |
| Gold (GLD) | 21.8% | 17.8% | 1.01 | 2.7% |
| Commodities (DBC) | 11.6% | 18.8% | 0.50 | 8.1% |
| Real Estate (VNQ) | 3.4% | 18.8% | 0.09 | 23.2% |
| Bitcoin (BTCUSD) | 3.0% | 56.5% | 0.27 | 19.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ONDS | |
|---|---|---|---|---|
| ONDS | 4.5% | 113.4% | 0.59 | - |
| Sector ETF (XLK) | 21.5% | 24.3% | 0.81 | 31.0% |
| Equity (SPY) | 14.0% | 17.9% | 0.67 | 30.4% |
| Gold (GLD) | 14.0% | 15.9% | 0.73 | 3.5% |
| Commodities (DBC) | 8.4% | 17.6% | 0.39 | 9.3% |
| Real Estate (VNQ) | 5.1% | 20.7% | 0.21 | 23.7% |
| Bitcoin (BTCUSD) | 65.9% | 66.9% | 1.05 | 18.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 3/9/2026 | -1.1% | 3.4% | |
| 11/13/2025 | 19.1% | 36.1% | 39.6% |
| 7/9/2025 | 2.8% | 27.9% | 86.0% |
| 3/12/2025 | -3.7% | 2.9% | 14.7% |
| 11/12/2024 | -2.0% | -15.8% | 31.1% |
| 8/14/2024 | -14.9% | 13.2% | 19.2% |
| 5/15/2024 | -5.3% | -18.3% | -8.0% |
| 2/26/2024 | 11.1% | 0.8% | -23.8% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 7 | 9 | 9 |
| # Negative | 12 | 10 | 9 |
| Median Positive | 8.8% | 14.5% | 27.8% |
| Median Negative | -6.3% | -14.8% | -27.1% |
| Max Positive | 19.1% | 74.2% | 108.1% |
| Max Negative | -20.0% | -24.7% | -47.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 03/30/2026 | 10-K |
| 09/30/2025 | 11/13/2025 | 10-Q |
| 06/30/2025 | 08/12/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 03/12/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/14/2024 | 10-Q |
| 03/31/2024 | 05/15/2024 | 10-Q |
| 12/31/2023 | 04/01/2024 | 10-K |
| 09/30/2023 | 11/14/2023 | 10-Q |
| 06/30/2023 | 08/14/2023 | 10-Q |
| 03/31/2023 | 05/15/2023 | 10-Q |
| 12/31/2022 | 03/14/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/11/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q4 2025 Earnings Reported 3/25/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Revenue | 38.00 Mil | 39.00 Mil | 40.00 Mil | ||||
| 2026 Revenue | 375.00 Mil | 114.3% | Raised | Guidance: 175.00 Mil for 2026 | |||
Prior: Q4 2025 Earnings Reported 1/16/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 170.00 Mil | 175.00 Mil | 180.00 Mil | 59.1% | Raised | Guidance: 110.00 Mil for 2026 | |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Brock, Eric A | Chairman, CEO and President | Direct | Sell | 12312025 | 9.71 | 475,000 | 4,611,348 | 14,186,010 | Form |
| 2 | Sood, Jaspreet K | Direct | Sell | 12232025 | 9.48 | 29,698 | 281,537 | 1,664,982 | Form | |
| 3 | Seidl, Randy | Direct | Sell | 12232025 | 9.48 | 21,520 | 204,010 | 2,014,216 | Form | |
| 4 | Cohen, Richard M | Direct | Sell | 12232025 | 9.48 | 25,861 | 245,162 | 1,874,632 | Form | |
| 5 | Laird, Neil J | CFO, Secretary and Treasurer | Direct | Sell | 12232025 | 9.48 | 4,526 | 42,906 | 77,964 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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