Ondas (NASDAQ:ONDS) Posts Earnings Results, Beats Expectations By $0.88 EPS

Key Points

• Ondas beat earnings and revenue expectations, reporting Q1 EPS of $0.85 versus estimates for a loss and revenue of $50.1 million, well above the $39.4 million consensus.
• Management raised its 2026 outlook to at least $390 million in revenue, citing strong demand, a backlog above $450 million, and faster-than-planned progress toward profitability.
• The company highlighted growth drivers across its portfolio, including strong momentum at Airobotics, order gains at Sentrycs, and larger defense wins at 4M Defense, while also emphasizing its Palantir partnership and SkyWeaver AI platform.

Ondas (NASDAQ:ONDS - Get Free Report) released its quarterly earnings results on Thursday. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate 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 Stock Performance

ONDS traded up $2.35 during trading on Thursday, hitting $11.21. The stock had a trading volume of 243,551,580 shares, compared to its average volume of 53,014,872. The firm has a market capitalization of $5.49 billion, a P/E ratio of -16.73 and a beta of 2.56. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.68 and a current ratio of 4.84. Ondas has a twelve month low of $0.76 and a twelve month high of $15.28. The company's 50-day moving average price is $9.91 and its 200 day moving average price is $9.56.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. IFP Advisors Inc raised its holdings in Ondas by 231.4% during the third quarter. IFP Advisors Inc now owns 4,142 shares of the company's stock worth $32,000 after purchasing an additional 2,892 shares in the last quarter. Steward Partners Investment Advisory LLC boosted 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 purchasing an additional 4,000 shares in the last quarter. Federation des caisses Desjardins du Quebec increased its position in Ondas by 228.6% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 4,403 shares of the company's stock worth $43,000 after purchasing an additional 3,063 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new position in Ondas during the 4th quarter worth approximately $47,000. Finally, State of Wyoming acquired a new position in Ondas during the 4th quarter worth approximately $51,000. 37.73% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Ondas

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

Wall Street Analyst Weigh In

ONDS has been the topic of a number of research reports. Oppenheimer raised their target price on shares of Ondas from $12.00 to $16.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 20th. Needham & Company LLC increased their price target on shares of Ondas from $17.00 to $23.00 and gave the stock a "buy" rating in a research note on Tuesday, March 24th. Northland Securities raised their price objective 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. Lake Street Capital lifted their price objective on shares of Ondas from $10.00 to $19.00 and gave the company a "buy" rating in a research note on Tuesday, January 20th. Finally, HC Wainwright set a $17.00 target price on shares of Ondas and gave the company a "buy" rating in a report on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $17.25.

About Ondas

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.

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