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Ondas (ONDS) Financials

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$13.58 +0.12 (+0.89%)
Closing price 06/2/2026 04:00 PM Eastern
Extended Trading
$13.00 -0.57 (-4.23%)
As of 09:29 AM Eastern
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Annual Income Statements for Ondas

Annual Income Statements for Ondas

This table shows Ondas' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -0.02 -0.03 -6.24 -12 -19 -13 -15 -73 -46 -42 -137
Consolidated Net Income / (Loss)		 -0.02 -0.03 -3.02 -12 -19 -13 -15 -73 -45 -38 -133
Net Income / (Loss) Continuing Operations		 -0.02 -0.03 -6.24 -12 -19 -13 -15 -73 -45 -38 -133
Total Pre-Tax Income 		-0.02 -0.03 -3.02 -12 -19 -13 -18 -73 -45 -38 -133
Total Operating Income		 -0.02 -0.03 -2.39 -8.44 -15 -12 -18 -69 -40 -35 -58
Total Gross Profit		 -0.00 -0.01 0.19 0.15 0.24 0.93 1.10 1.11 6.38 0.35 20
Total Revenue		 0.00 0.01 0.27 0.19 0.32 2.16 2.91 2.13 16 7.19 51
Operating Revenue		 0.00 0.01 0.27 0.19 0.32 2.16 2.91 2.13 16 7.19 51
Total Cost of Revenue		 0.01 0.01 0.08 0.04 0.08 1.24 1.81 1.02 9.31 6.85 31
Operating Cost of Revenue		 0.01 0.01 0.08 0.04 0.08 1.24 1.81 1.02 9.31 6.85 31
Total Operating Expenses		 0.02 0.03 5.81 8.59 16 12 19 71 45 35 79
Selling, General & Admin Expense		 0.01 0.02 2.59 - 4.79 7.64 12 24 22 17 44
Marketing Expense		 - - 0.50 2.90 5.40 1.22 1.49 3.46 5.91 5.34 13
Research & Development Expense		 - - 1.00 3.08 5.42 3.59 5.80 24 17 12 21
Total Other Income / (Expense), net		 0.00 0.00 -0.63 -3.66 -4.02 -1.92 -0.54 -3.81 -6.62 -3.40 -75
Interest Expense		 - - 0.64 2.71 2.93 1.94 0.58 3.76 4.15 3.62 6.58
Interest & Investment Income		 - - 0.00 0.02 0.00 0.00 0.01 0.03 -1.38 0.24 9.11
Other Income / (Expense), net		 - - 0.01 -0.97 -1.09 0.02 0.03 -0.08 -1.08 -0.01 -77
Income Tax Expense		 - - 0.00 0.00 0.00 0.00 -2.92 0.00 0.00 0.00 0.49
Preferred Stock Dividends Declared		 - - - - - - - 0.00 1.51 4.41 5.15
Basic Earnings per Share		 ($0.01) ($0.01) ($0.19) ($0.42) ($1.10) ($0.66) ($0.44) ($1.73) ($0.88) ($0.61) ($0.62)
Weighted Average Basic Shares Outstanding		 3M 3M 16.19M 28.53M 17.61M 20.43M 34.18M 42.24M 52.74M 69.92M 221.77M
Diluted Earnings per Share		 ($0.01) ($0.01) ($0.19) ($0.42) ($1.10) ($0.66) - - ($0.88) ($0.61) ($0.62)
Weighted Average Diluted Shares Outstanding		 3M 3M 16.19M 28.53M 17.61M 20.43M 34.18M 49.06M 52.74M 69.92M 221.77M
Weighted Average Basic & Diluted Shares Outstanding		 3M 3M 16.19M 28.53M 17.61M 20.43M 34.18M 49.06M 65.60M 105.73M 467.13M

Quarterly Income Statements for Ondas

This table shows Ondas' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -7.91 -15 -11 -9.38 -11 -12 -15 -12 -8.78 -101 362
Consolidated Net Income / (Loss)		 -7.29 -14 -9.88 -8.27 -9.53 -10 -14 -11 -7.48 -101 361
Net Income / (Loss) Continuing Operations		 -7.29 -14 -9.88 -8.27 -9.53 -10 -14 -11 -7.48 -101 361
Total Pre-Tax Income 		-7.29 -14 -9.88 -8.27 -9.53 -10 -14 -11 -7.17 -101 361
Total Operating Income		 -5.93 -13 -9.13 -8.30 -8.66 -8.52 -10 -9.25 -16 -23 -43
Total Gross Profit		 0.55 1.73 -0.39 -0.19 0.05 0.88 1.49 3.33 2.60 13 25
Total Revenue		 2.67 4.96 0.63 0.96 1.48 4.13 4.25 6.27 10 30 50
Operating Revenue		 2.67 4.96 0.63 0.96 1.48 4.13 4.25 6.27 10 30 50
Total Cost of Revenue		 2.11 3.23 1.02 1.15 1.43 3.25 2.76 2.94 7.49 17 25
Operating Cost of Revenue		 2.11 3.23 1.02 1.15 1.43 3.25 2.76 2.94 7.49 17 25
Total Operating Expenses		 6.49 13 8.73 8.11 8.71 9.40 12 13 18 36 67
Selling, General & Admin Expense		 2.56 8.21 3.90 4.16 4.11 4.96 5.91 6.08 11 22 43
Marketing Expense		 1.22 1.70 1.32 1.31 1.41 1.30 2.43 2.27 3.00 5.49 10
Research & Development Expense		 2.70 2.96 3.51 2.64 3.18 3.14 3.46 4.24 4.51 8.67 14
Total Other Income / (Expense), net		 -1.36 -2.88 -0.75 0.03 -0.87 -1.83 -3.83 -1.50 8.33 -78 407
Interest Expense		 0.89 0.92 0.78 0.70 0.87 1.26 3.87 1.56 0.44 0.70 0.34
Interest & Investment Income		 0.00 -1.38 0.10 0.09 0.12 -0.07 0.20 0.25 1.99 6.67 12
Other Income / (Expense), net		 -0.46 -0.57 -0.06 0.65 -0.12 -0.50 -0.16 -0.19 6.78 -83 395
Income Tax Expense		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.31 0.18 0.25
Preferred Stock Dividends Declared		 0.62 0.89 0.97 1.11 1.15 1.18 1.21 1.27 1.31 1.36 1.29
Net Income / (Loss) Attributable to Noncontrolling Interest		 - - - - 0.00 - - - -0.01 - -1.70
Basic Earnings per Share		 ($0.15) ($0.25) ($0.17) ($0.14) ($0.15) ($0.15) ($0.15) ($0.08) ($0.03) ($0.36) $0.58
Weighted Average Basic Shares Outstanding		 53.89M 52.74M 63.04M 66.38M 70.74M 69.92M 105.01M 150.65M 259.91M 221.77M 445.09K
Diluted Earnings per Share		 ($0.15) - ($0.17) ($0.14) ($0.15) - ($0.15) ($0.08) ($0.03) ($0.36) $0.56
Weighted Average Diluted Shares Outstanding		 53.89M 52.74M 63.04M 66.38M 70.74M 69.92M 105.01M 150.65M 259.91M 221.77M 461.71K
Weighted Average Basic & Diluted Shares Outstanding		 58.31M 65.60M 66.27M 69.96M 77.29M 105.73M 137.43M 219.16M 368.46M 467.13M 495.76M

Annual Cash Flow Statements for Ondas

This table details how cash moves in and out of Ondas' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 0.00 -0.00 0.41 0.67 1.02 24 15 -11 -15 15 564
Net Cash From Operating Activities		 -0.02 -0.03 -2.63 -8.52 -15 -7.53 -17 -38 -34 -33 -39
Net Cash From Continuing Operating Activities		 -0.02 -0.04 -2.46 -8.52 -15 -7.53 -17 -38 -34 -34 -39
Net Income / (Loss) Continuing Operations		 -0.02 -0.03 -3.02 -12 -19 -13 -15 -73 -45 -38 -133
Consolidated Net Income / (Loss)		 -0.02 -0.03 -3.02 -12 -19 -13 -15 -73 -45 -38 -133
Depreciation Expense		 - - 0.01 0.05 0.14 0.10 0.12 0.45 0.84 0.60 0.95
Amortization Expense		 - - 0.11 0.84 0.43 1.01 1.82 7.95 8.35 7.59 12
Non-Cash Adjustments To Reconcile Net Income		 - - 0.00 1.00 0.76 4.75 2.79 26 6.60 1.79 94
Changes in Operating Assets and Liabilities, net		 -0.00 0.01 0.27 1.69 3.40 0.09 -6.59 1.21 -4.97 -5.56 -12
Net Cash From Investing Activities		 0.00 0.00 0.00 -0.63 -0.35 -0.02 -10 -6.93 0.54 -1.73 -260
Net Cash From Continuing Investing Activities		 0.00 0.00 0.00 -0.63 -0.35 -0.02 -10 -6.93 0.54 -1.73 -260
Purchase of Property, Plant & Equipment		 - - 0.00 -0.54 -0.08 -0.01 -0.92 -2.88 -0.21 -1.64 -2.03
Acquisitions		 - - 0.00 -0.05 -0.27 -0.03 -6.62 -1.05 0.70 -0.10 -207
Purchase of Investments		 - - - - - 0.00 -0.50 -1.00 - 0.00 -51
Sale of Property, Plant & Equipment		 - - - - - - - 0.00 0.05 0.00 0.00
Net Cash From Financing Activities		 0.02 0.03 3.04 9.82 16 31 42 34 19 50 863
Net Cash From Continuing Financing Activities		 0.02 0.03 3.04 9.82 16 31 42 34 19 50 863
Repayment of Debt		 - - -0.08 -0.16 -0.07 -4.68 -7.12 0.00 -5.50 5.44 -0.04
Issuance of Debt		 0.02 0.03 3.11 9.98 10 - 0.00 28 9.31 33 1.16
Issuance of Common Equity		 - 0.00 0.00 0.00 6.11 31 48 6.09 0.00 12 860
Other Financing Activities, net		 - - 0.01 -0.00 0.00 0.67 1.46 0.06 0.22 0.02 1.18
Cash Interest Paid		 - - - - - - - 0.01 0.18 0.02 0.04
Cash Income Taxes Paid		 - - 0.50 0.98 1.04 0.34 1.04 0.00 0.00 0.00 0.01

Quarterly Cash Flow Statements for Ondas

This table details how cash moves in and out of Ondas' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 18 -5.99 -0.43 -9.62 -2.10 27 -4.59 43 365 160 443
Net Cash From Operating Activities		 -6.24 -5.91 -7.46 -8.82 -9.09 -8.11 -6.66 -8.40 -11 -13 -51
Net Cash From Continuing Operating Activities		 -6.30 -5.91 -7.46 -8.82 -9.09 -8.11 -6.66 -8.40 -11 -13 -51
Net Income / (Loss) Continuing Operations		 -7.29 -14 -9.88 -8.27 -9.53 -10 -14 -11 -7.48 -101 361
Consolidated Net Income / (Loss)		 -7.29 -14 -9.88 -8.27 -9.53 -10 -14 -11 -7.48 -101 361
Depreciation Expense		 0.24 0.20 0.12 0.11 0.19 0.18 0.18 0.19 0.20 0.38 0.67
Amortization Expense		 1.90 2.09 1.83 1.74 2.00 2.02 4.59 2.59 1.57 3.17 6.01
Non-Cash Adjustments To Reconcile Net Income		 -2.09 5.78 0.35 -0.36 0.40 1.52 1.54 2.34 -1.35 92 -372
Changes in Operating Assets and Liabilities, net		 0.93 0.16 0.12 -2.04 -2.15 -1.50 1.17 -2.77 -3.89 -6.89 -47
Net Cash From Investing Activities		 -0.05 -0.11 -1.21 -1.10 0.66 -0.07 -0.20 -0.11 -18 -241 -474
Net Cash From Continuing Investing Activities		 -0.05 -0.11 -1.21 -1.10 0.66 -0.07 -0.20 -0.11 -18 -241 -474
Purchase of Property, Plant & Equipment		 -0.03 -0.12 -1.19 -1.09 0.68 -0.03 -0.17 -0.10 -0.17 -1.60 -1.33
Acquisitions		 1.00 -0.01 -0.02 -0.01 -0.02 -0.04 0.00 -0.01 -6.68 -200 -39
Purchase of Investments		 - - - - - - 0.00 - - -39 -457
Sale of Property, Plant & Equipment		 0.03 0.02 - - - - 0.00 - - - 0.11
Sale and/or Maturity of Investments		 - - - - - - 0.00 - - - 23
Other Investing Activities, net		 - - - - - - -0.02 - - - -0.07
Net Cash From Financing Activities		 24 0.03 8.24 0.31 6.33 35 2.27 52 394 414 968
Net Cash From Continuing Financing Activities		 24 0.03 8.24 0.31 6.33 35 2.27 52 394 414 968
Repayment of Debt		 - - - - - 1.42 0.00 - - -0.04 -0.31
Issuance of Debt		 - - 0.00 - 1.38 34 0.92 - - 0.23 0.00
Issuance of Common Equity		 15 -15 3.86 4.38 3.48 -4.40 0.98 43 403 414 969
Other Financing Activities, net		 0.19 0.03 0.00 0.31 -0.01 -0.23 0.36 8.98 -8.95 -0.19 -0.37
Cash Interest Paid		 0.01 0.01 0.01 0.00 0.00 0.00 0.01 0.00 0.00 0.03 0.01
Cash Income Taxes Paid		 - - 0.00 - - - 0.00 - 0.01 0.00 0.00

Annual Balance Sheets for Ondas

This table presents Ondas' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 0.01 0.01 0.72 2.66 4.26 29 117 98 92 110 1,133
Total Current Assets		 0.01 0.01 0.70 2.04 3.30 28 45 36 24 48 686
Cash & Equivalents		 0.01 0.00 0.46 1.13 2.15 26 41 30 15 30 551
Restricted Cash		 - - - - - - - 0.00 0.04 0.04 44
Short-Term Investments		 - - - - - - - - - 0.00 22
Accounts Receivable		 0.00 0.00 0.03 0.03 0.02 0.05 1.21 0.10 3.43 5.22 22
Inventories, net		 0.00 0.00 0.17 0.35 0.43 1.15 1.18 2.17 2.19 9.82 22
Other Current Assets		 - - 0.04 0.53 0.70 0.63 1.45 1.75 2.97 2.48 25
Plant, Property, & Equipment, net		 0.00 0.00 0.01 0.50 0.25 0.16 1.03 3.02 4.18 2.59 10
Total Noncurrent Assets		 0.00 0.00 0.00 0.12 0.71 0.43 143 118 64 60 437
Long-Term Investments		 - - - - - 0.00 0.50 1.50 - 0.00 36
Goodwill		 - - - - - 0.00 45 26 28 28 252
Intangible Assets		 - - 0.00 0.05 0.33 0.38 25 29 31 27 137
Other Noncurrent Operating Assets		 - - 0.00 0.06 0.38 0.05 73 62 5.30 4.59 12
Total Liabilities & Shareholders' Equity		 0.01 0.01 0.72 2.66 4.26 29 117 98 92 110 1,133
Total Liabilities		 0.03 0.06 8.64 18 17 13 5.21 40 47 74 661
Total Current Liabilities		 0.03 0.06 5.86 17 16 12 4.62 23 36 51 142
Short-Term Debt		 - - 3.87 14 0.00 0.06 0.00 16 26 38 5.15
Accounts Payable		 0.00 0.01 0.80 1.11 5.08 5.20 3.56 6.23 8.76 12 48
Accrued Expenses		 - - 0.88 2.19 - - - - 0.03 0.00 75
Current Deferred Revenue		 - - - - 0.38 0.17 0.51 0.06 0.28 0.33 8.03
Other Current Liabilities		 0.03 0.05 0.32 0.00 11 7.06 0.55 0.58 0.69 0.39 5.80
Total Noncurrent Liabilities		 0.00 0.00 2.78 0.30 0.63 0.94 0.58 17 12 23 519
Long-Term Debt		 - - 2.78 0.30 0.54 0.91 0.30 14 3.11 16 3.83
Noncurrent Deferred & Payable Income Tax Liabilities		 - - - - - - - - - 0.00 15
Other Noncurrent Operating Liabilities		 - - - 0.00 0.09 0.04 0.28 2.50 8.55 7.23 501
Commitments & Contingencies		 - - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 - - - - - - - - 12 19 30
Total Equity & Noncontrolling Interests		 -0.02 -0.05 -7.92 -15 -12 15 112 58 33 17 442
Total Preferred & Common Equity		 -0.02 -0.05 -7.92 -15 -12 15 112 58 33 17 438
Preferred Stock		 - - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -0.02 -0.05 -7.92 -15 -12 15 112 58 33 17 438
Common Stock		 0.00 0.00 12 17 39 80 193 212 231 253 806
Retained Earnings		 -0.02 -0.06 -20 -32 -52 -65 -80 -154 -198 -236 -368
Accumulated Other Comprehensive Income / (Loss)		 - - - - - - - - - 0.00 0.33
Noncontrolling Interest		 - - - - - - - - - 0.00 4.01

Quarterly Balance Sheets for Ondas

This table presents Ondas' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 85 101 92 83 80 105 152 550 2,439
Total Current Assets		 13 30 24 15 17 43 91 479 1,629
Cash & Equivalents		 3.06 21 15 4.93 2.83 25 68 433 1,026
Restricted Cash		 0.04 0.04 0.04 0.04 0.04 0.05 0.98 0.58 11
Short-Term Investments		 - - - - - - - 19 448
Accounts Receivable		 4.91 4.89 2.13 2.29 2.88 1.91 5.38 5.22 45
Inventories, net		 2.91 2.58 3.76 4.96 8.88 11 11 13 34
Other Current Assets		 2.17 1.79 3.03 2.85 2.54 5.52 6.08 8.93 65
Plant, Property, & Equipment, net		 5.69 5.44 4.84 5.49 2.73 2.58 2.48 2.60 12
Total Noncurrent Assets		 66 65 63 62 60 59 58 137 799
Long-Term Investments		 1.50 1.50 - - - - - 0.59 72
Goodwill		 28 28 28 28 28 28 28 35 382
Intangible Assets		 33 32 30 29 28 26 25 28 313
Other Noncurrent Operating Assets		 3.16 3.31 5.06 4.94 4.28 4.73 5.42 74 33
Total Liabilities & Shareholders' Equity		 85 101 92 83 80 105 152 550 2,439
Total Liabilities		 35 44 48 46 47 58 39 40 1,359
Total Current Liabilities		 29 36 38 38 40 50 31 31 149
Short-Term Debt		 20 26 27 29 29 31 11 5.61 0.96
Accounts Payable		 7.76 8.11 8.79 7.48 7.54 9.98 9.59 16 87
Accrued Expenses		 - - - 0.02 0.02 0.02 0.02 0.02 40
Current Deferred Revenue		 0.14 0.34 0.46 0.29 0.45 2.64 3.36 2.10 20
Other Current Liabilities		 0.86 1.04 1.31 0.69 2.26 6.50 6.87 7.86 1.87
Total Noncurrent Liabilities		 5.99 8.87 9.99 8.75 8.08 8.16 8.72 8.44 1,210
Long-Term Debt		 1.90 4.56 1.97 0.67 0.30 0.30 0.30 0.30 3.41
Noncurrent Deferred & Payable Income Tax Liabilities		 - - - - - - - 0.87 48
Other Noncurrent Operating Liabilities		 1.80 2.05 8.02 8.08 7.78 7.86 8.42 2.27 1,158
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 - 11 16 17 18 21 22 23 2.45
Total Equity & Noncontrolling Interests		 50 45 28 19 15 26 91 487 1,078
Total Preferred & Common Equity		 50 45 28 19 15 26 91 486 1,074
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 50 45 28 19 15 26 91 486 1,074
Common Stock		 226 229 236 236 241 277 352 755 1,080
Retained Earnings		 -177 -184 -208 -217 -226 -251 -261 -269 -5.44
Accumulated Other Comprehensive Income / (Loss)		 - - - - - - - - -0.36
Noncontrolling Interest		 - - - - - - - 1.15 3.86

Annual Metrics And Ratios for Ondas

This table displays calculated financial ratios and metrics derived from Ondas' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 2,000,000.00 12,600,000.00 50,463,732.00 58,894,485.00 59,388,085.00 40,788,681.00 42,885,046.00 58,311,317.00 - 58,311,317.00
DEI Adjusted Shares Outstanding		 0.00 2,000,000.00 12,600,000.00 50,463,732.00 58,894,485.00 59,388,085.00 40,788,681.00 42,885,046.00 58,311,317.00 - 58,311,317.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 -0.02 -0.50 -0.24 -0.33 -0.23 -0.37 -1.71 -0.80 - -2.35
Growth Metrics		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Net Operating Profit after Tax (NOPAT)		 -0.01 -0.02 -1.68 -5.90 -11 -8.07 -13 -49 -28 -24 -41
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - -44.90% -36.89% -9.00%
Earnings before Interest and Taxes (EBIT)		 -0.02 -0.03 -2.38 -9.41 -16 -12 -18 -70 -41 -35 -135
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -0.02 -0.03 -2.26 -8.52 -16 -10 -16 -61 -32 -26 -122
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 0.01 0.00 -5.87 1.51 -12 -165 -22 30 -20 187
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -0.03 -0.06 -1.73 -1.77 -14 -10 143 116 59 55 -168
Increase / (Decrease) in Invested Capital		 0.00 -0.03 -1.68 -0.03 -12 4.00 153 -27 -57 -3.80 -228
Book Value per Share		 ($0.01) ($0.03) ($2.32) ($0.30) ($0.21) $0.25 $2.75 $1.36 $0.57 $0.24 $1.97
Tangible Book Value per Share		 ($0.01) ($0.03) ($2.32) ($0.30) ($0.22) $0.25 $1.03 $0.09 ($0.45) ($0.55) $0.22
Total Capital		 -0.02 -0.05 -1.28 -0.64 -12 16 113 89 74 85 484
Total Debt		 0.00 0.00 6.64 14 0.54 0.97 0.30 30 29 49 12
Total Long-Term Debt		 0.00 0.00 2.78 0.30 0.54 0.91 0.30 14 3.11 16 3.83
Net Debt		 -0.01 -0.00 6.19 13 -1.61 -25 -41 -0.93 14 19 -639
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.54 0.08 0.01 0.92 2.88 0.16 1.63 2.03
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -0.03 -0.06 -1.75 -2.39 -15 -11 -0.78 -0.85 -1.66 0.17 -63
Debt-free Net Working Capital (DFNWC)		 -0.02 -0.05 -1.29 -1.26 -13 15 40 29 13 30 553
Net Working Capital (NWC)		 -0.02 -0.05 -5.16 -15 -13 15 40 13 -12 -3.06 544
Net Nonoperating Expense (NNE)		 0.01 0.01 1.35 6.19 8.63 5.41 2.44 25 17 14 93
Net Nonoperating Obligations (NNO)		 -0.01 -0.00 6.19 13 -1.61 -25 31 58 14 19 -639
Total Depreciation and Amortization (D&A)		 0.00 0.00 0.12 0.89 0.57 1.11 1.94 8.40 9.19 8.19 13
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($0.01) ($0.01) ($0.42) ($0.37) ($0.66) ($0.44) ($1.73) ($0.88) ($0.61) ($0.62)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 2M 5.76M 50.46M 59.27M 26.64M 40.99M 42.24M 52.74M 69.92M 221.77M
Adjusted Diluted Earnings per Share		 $0.00 ($0.01) ($0.01) ($0.42) ($0.37) ($0.66) ($0.44) $0.00 $0.00 ($0.61) ($0.62)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 2M 5.76M 50.46M 59.27M 26.64M 40.99M 49.06M 65.60M 69.92M 221.77M
Adjusted Basic & Diluted Earnings per Share		 $0.00 ($0.01) ($0.01) ($0.42) ($0.37) ($0.66) ($0.44) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 3M 4.23M 28.53M 52.70M 20.43M 34.18M 49.06M 65.60M 105.73M 467.13M
Normalized Net Operating Profit after Tax (NOPAT)		 -0.01 -0.02 -1.24 -5.90 -11 -8.07 -13 -35 -28 -24 -41
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

Quarterly Metrics And Ratios for Ondas

This table displays calculated financial ratios and metrics derived from Ondas' official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 54,457,667.00 58,311,317.00 58,311,317.00 58,311,317.00 58,311,317.00 - 58,311,317.00 58,311,317.00 58,311,317.00 58,311,317.00 58,311,317.00
DEI Adjusted Shares Outstanding		 54,457,667.00 58,311,317.00 58,311,317.00 58,311,317.00 58,311,317.00 - 58,311,317.00 58,311,317.00 58,311,317.00 58,311,317.00 58,311,317.00
DEI Earnings Per Adjusted Shares Outstanding		 -0.15 -0.26 -0.19 -0.16 -0.18 - -0.26 -0.21 -0.15 -1.73 6.20
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 321.38% 935.95% -75.92% -82.49% -44.44% -16.77% 579.70% 554.94% 581.95% - 1,079.90%
EBITDA Growth		 65.40% 63.27% 24.54% 15.14% -54.60% 37.64% 21.23% -14.81% -5.68% - 6,397.04%
EBIT Growth		 52.95% 61.71% 27.44% 10.29% -37.16% 31.78% -13.91% -23.34% 0.63% - 3,465.31%
NOPAT Growth		 56.20% 63.36% 27.86% 2.27% -45.95% 32.64% -12.96% -11.39% -79.01% - -490.86%
Net Income Growth		 46.29% 63.05% 31.68% 7.68% -30.63% 26.90% -43.14% -29.99% 21.47% - 2,655.53%
EPS Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 11.76% 42.86% 80.00% - 473.33%
Operating Cash Flow Growth		 42.70% 49.76% 41.90% 2.36% -45.52% -37.19% 10.68% 4.71% -20.57% - -670.36%
Free Cash Flow Firm Growth		 142.25% 1,929.03% 1,334.33% -46.81% -85.85% -104.45% -101.69% -123.63% -6,962.41% - 42,907.19%
Invested Capital Growth		 -16.64% -49.36% -55.60% -12.09% -11.05% -6.47% -10.45% -9.62% 131.58% - -1,004.12%
Revenue Q/Q Growth		 -51.27% 86.15% -87.40% 53.25% 54.60% 178.84% 2.89% 47.67% 60.97% - 66.46%
EBITDA Q/Q Growth		 37.73% -156.58% 33.77% 19.80% -13.44% -3.49% 16.35% -16.89% -4.42% - 448.38%
EBIT Q/Q Growth		 25.00% -106.54% 30.46% 16.73% -14.67% -2.72% -16.13% 9.83% 7.61% - 430.52%
NOPAT Q/Q Growth		 30.16% -113.11% 27.83% 9.02% -4.30% 1.65% -21.05% 10.29% -67.62% - -161.21%
Net Income Q/Q Growth		 18.59% -93.88% 30.15% 16.27% -15.19% -8.50% -36.77% 23.95% 30.41% - 457.63%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 17.65% -7.14% 0.00% 0.00% 46.67% 62.50% - 255.56%
Operating Cash Flow Q/Q Growth		 30.87% 5.34% -26.13% -18.29% -3.02% 10.75% 17.88% -26.20% -30.36% - -303.02%
Free Cash Flow Firm Q/Q Growth		 88.99% 430.58% 37.30% -96.14% -49.72% -266.78% 47.87% 45.94% -14,502.37% - 123.98%
Invested Capital Q/Q Growth		 -4.02% -11.65% -0.94% 4.66% -2.88% -7.10% -5.17% 5.63% 148.83% - -175.80%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 20.82% 34.82% -63.20% -19.93% 3.21% 21.40% 35.04% 53.11% 25.79% - 49.20%
EBITDA Margin		 -159.83% -220.30% -1,158.16% -606.05% -444.72% -165.06% -134.21% -106.24% -68.92% - 716.24%
Operating Margin		 -222.65% -254.89% -1,460.33% -866.90% -584.87% -206.29% -242.70% -147.43% -153.53% - -85.13%
EBIT Margin		 -240.09% -266.38% -1,470.53% -799.02% -592.69% -218.34% -246.44% -150.48% -86.36% - 702.91%
Profit (Net Income) Margin		 -273.62% -284.98% -1,580.15% -863.36% -643.32% -250.32% -332.76% -171.36% -74.08% - 720.74%
Tax Burden Percent		 100.00% 100.82% 100.00% 100.00% 100.00% 99.67% 100.00% 100.00% 104.29% - 99.93%
Interest Burden Percent		 113.96% 106.11% 107.45% 108.05% 108.54% 115.02% 135.03% 113.88% 82.25% - 102.61%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.07%
Return on Invested Capital (ROIC)		 -23.85% -31.99% -147.98% -85.73% -52.22% -18.24% -33.27% -28.67% -27.08% - 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 153.33% -46.73% -155.58% -96.78% -71.19% -44.85% -101.98% -2.72% -29.03% - 0.00%
Return on Net Nonoperating Assets (RNNOA)		 -3.62% -32.46% -146.06% -50.05% -29.10% -18.20% -22.74% 0.60% 18.53% - 0.00%
Return on Equity (ROE)		 -27.47% -64.45% -294.04% -135.77% -81.32% -36.44% -56.00% -28.07% -8.55% - 42.95%
Cash Return on Invested Capital (CROIC)		 -40.72% 33.76% 50.27% -25.80% -31.41% -35.87% -34.33% -34.19% -110.43% - 0.00%
Operating Return on Assets (OROA)		 -26.43% -43.97% -217.67% -88.08% -52.61% -15.57% -27.17% -20.71% -6.78% - 53.39%
Return on Assets (ROA)		 -30.12% -47.04% -233.89% -95.17% -57.11% -17.85% -36.69% -23.58% -5.82% - 54.74%
Return on Common Equity (ROCE)		 -25.45% -57.02% -246.16% -108.87% -54.73% -22.37% -33.38% -20.75% -7.88% - 41.92%
Return on Equity Simple (ROE_SIMPLE)		 -152.60% 0.00% -145.03% 0.00% 0.00% 0.00% -162.06% 0.00% 0.00% - 0.00%
Net Operating Profit after Tax (NOPAT)		 -4.15 -8.85 -6.39 -5.81 -6.06 -5.96 -7.22 -6.47 -11 -16 -43
NOPAT Margin		 -155.85% -178.42% -1,022.23% -606.83% -409.41% -144.40% -169.89% -103.20% -107.47% - -85.08%
Net Nonoperating Expense Percent (NNEP)		 -177.18% 14.73% 7.60% 11.06% 18.97% 26.61% 68.71% -25.95% 1.94% - 52.23%
Return On Investment Capital (ROIC_SIMPLE)		 - -14.29% -11.19% -11.88% -13.80% -9.08% -12.65% -6.36% -2.18% -3.59% -3.94%
Cost of Revenue to Revenue		 79.18% 65.18% 163.20% 119.93% 96.79% 78.60% 64.96% 46.89% 74.21% - 50.80%
SG&A Expenses to Revenue		 96.18% 165.48% 623.69% 434.72% 277.89% 120.24% 139.10% 96.89% 104.92% - 86.42%
R&D to Revenue		 101.36% 59.68% 562.07% 275.62% 214.91% 76.07% 81.43% 67.54% 44.69% - 26.97%
Operating Expenses to Revenue		 243.47% 259.48% 1,397.13% 846.97% 588.08% 227.69% 277.74% 200.55% 179.32% - 134.33%
Earnings before Interest and Taxes (EBIT)		 -6.40 -13 -9.19 -7.65 -8.78 -9.02 -10 -9.44 -8.72 -107 352
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -4.26 -11 -7.24 -5.81 -6.59 -6.82 -5.70 -6.66 -6.96 -103 359
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.73 2.44 2.20 1.99 3.66 10.79 4.31 3.18 4.13 - 0.00
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 7.62 4.74 - 0.01
Price to Revenue (P/Rev)		 2.93 5.14 4.46 4.18 6.80 24.88 10.39 17.93 81.07 - 0.04
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.02
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 5,746.08%
Enterprise Value to Invested Capital (EV/IC)		 0.81 1.81 1.58 1.31 1.67 3.95 2.65 4.60 11.58 - 0.00
Enterprise Value to Revenue (EV/Rev)		 4.84 6.78 6.69 8.70 12.32 30.23 12.80 15.72 64.20 - 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 3.60 1.93 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.58 0.64 0.67 0.81 0.88 1.37 0.66 0.10 0.02 - 0.00
Long-Term Debt to Equity		 0.12 0.07 0.05 0.02 0.01 0.44 0.01 0.00 0.01 - 0.00
Financial Leverage		 -0.02 0.69 0.94 0.52 0.41 0.41 0.22 -0.22 -0.64 - -1.37
Leverage Ratio		 1.36 1.84 1.90 1.94 2.02 2.49 2.17 1.57 1.16 - 2.26
Compound Leverage Factor		 1.55 1.95 2.04 2.10 2.20 2.87 2.93 1.79 0.95 - 2.32
Debt to Total Capital		 36.90% 39.00% 40.18% 44.79% 46.72% 57.73% 39.89% 8.91% 2.09% - 0.40%
Short-Term Debt to Total Capital		 29.25% 34.79% 37.49% 43.77% 46.23% 39.07% 39.50% 8.67% 1.08% - 0.09%
Long-Term Debt to Total Capital		 7.65% 4.21% 2.69% 1.02% 0.48% 18.66% 0.39% 0.24% 1.02% - 0.31%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Noncontrolling Interests to Total Capital		 12.38% 16.14% 21.80% 25.81% 29.26% 22.77% 26.51% 17.66% 4.66% - 0.58%
Common Equity to Total Capital		 50.72% 44.86% 38.02% 29.39% 24.02% 19.50% 33.61% 73.43% 93.24% - 99.02%
Debt to EBITDA		 -0.65 -0.91 -1.00 -1.05 -0.95 -1.86 -1.24 -0.43 -0.42 - 0.02
Net Debt to EBITDA		 -0.21 -0.44 -0.50 -0.87 -0.86 -0.72 -0.22 2.24 16.93 - -6.41
Long-Term Debt to EBITDA		 -0.14 -0.10 -0.07 -0.02 -0.01 -0.60 -0.01 -0.01 -0.20 - 0.01
Debt to NOPAT		 -0.76 -1.04 -1.16 -1.17 -1.07 -2.03 -1.24 -0.43 -0.36 - -0.05
Net Debt to NOPAT		 -0.24 -0.50 -0.58 -0.97 -0.96 -0.79 -0.22 2.24 14.48 - 17.16
Long-Term Debt to NOPAT		 -0.16 -0.11 -0.08 -0.03 -0.01 -0.66 -0.01 -0.01 -0.17 - -0.04
Altman Z-Score		 -2.28 -2.45 -2.79 -3.70 -3.85 -1.80 -2.50 2.38 30.55 - 1.24
Noncontrolling Interest Sharing Ratio		 7.35% 11.54% 16.29% 19.82% 32.70% 38.62% 40.39% 26.07% 7.82% - 2.39%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.85 0.66 0.62 0.40 0.43 0.94 0.86 2.90 15.30 - 10.91
Quick Ratio		 0.73 0.51 0.44 0.19 0.14 0.70 0.54 2.32 14.59 - 10.17
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 9.14 49 67 2.57 1.29 -2.16 -1.12 -0.61 -89 211 481
Operating Cash Flow to CapEx		 0.00% -5,860.20% -627.52% -806.03% 0.00% -26,996.62% -3,897.34% -8,768.52% -6,421.58% - -4,197.87%
Free Cash Flow to Firm to Interest Expense		 10.23 52.50 85.10 3.66 1.49 -1.71 -0.29 -0.39 -199.79 - 1,424.32
Operating Cash Flow to Interest Expense		 -6.98 -6.40 -9.53 -12.54 -10.43 -6.42 -1.72 -5.39 -24.65 - -151.77
Operating Cash Flow Less CapEx to Interest Expense		 -6.98 -6.51 -11.04 -14.09 -9.65 -6.45 -1.77 -5.45 -25.03 - -155.38
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.11 0.17 0.15 0.11 0.09 0.07 0.11 0.14 0.08 - 0.08
Accounts Receivable Turnover		 3.92 8.88 8.46 2.56 2.07 1.66 5.36 4.20 6.11 - 4.09
Inventory Turnover		 3.13 4.27 2.33 1.91 1.19 1.14 1.20 1.29 1.54 - 2.38
Fixed Asset Turnover		 2.30 4.36 2.53 1.65 1.96 2.13 2.92 4.05 9.29 - 13.72
Accounts Payable Turnover		 0.94 1.24 1.26 0.99 0.87 0.72 0.91 1.22 1.41 - 1.09
Days Sales Outstanding (DSO)		 93.06 41.11 43.15 142.76 176.71 219.56 68.16 86.82 59.72 - 89.18
Days Inventory Outstanding (DIO)		 116.47 85.46 156.70 191.01 305.93 320.05 304.09 283.90 237.57 - 153.58
Days Payable Outstanding (DPO)		 388.23 294.03 290.75 370.23 417.87 510.22 399.02 300.03 258.48 - 333.67
Cash Conversion Cycle (CCC)		 -178.71 -167.46 -90.91 -36.45 64.78 29.38 -26.78 70.69 38.81 - -90.91
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 67 59 58 61 59 55 52 55 137 -168 -472
Invested Capital Turnover		 0.15 0.18 0.14 0.14 0.13 0.13 0.20 0.28 0.25 - -0.46
Increase / (Decrease) in Invested Capital		 -13 -57 -73 -8.39 -7.36 -3.80 -6.09 -5.87 78 -228 -524
Enterprise Value (EV)		 54 106 92 80 99 217 138 254 1,589 - -1,542
Market Capitalization		 33 81 61 38 55 179 112 289 2,007 - 4.17
Book Value per Share		 $0.83 $0.57 $0.48 $0.29 $0.21 $0.24 $0.25 $0.60 $1.87 $1.97 $2,413.01
Tangible Book Value per Share		 ($0.27) ($0.45) ($0.52) ($0.57) ($0.58) ($0.55) ($0.26) $0.25 $1.63 $0.22 $852.98
Total Capital		 89 74 73 66 62 85 78 124 521 484 1,085
Total Debt		 33 29 29 30 29 49 31 11 11 12 4.37
Total Long-Term Debt		 6.82 3.11 1.97 0.67 0.30 16 0.30 0.30 5.31 3.83 3.41
Net Debt		 10 14 15 25 26 19 5.54 -58 -442 -639 -1,552
Capital Expenditures (CapEx)		 -0.00 0.10 1.19 1.09 -0.68 0.03 0.17 0.10 0.17 1.60 1.22
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -0.23 -1.66 -1.65 1.10 3.50 0.17 -1.78 1.89 0.97 -63 -4.09
Debt-free Net Working Capital (DFNWC)		 21 13 13 6.08 6.38 30 24 70 453 553 1,481
Net Working Capital (NWC)		 -5.28 -12 -14 -23 -22 -3.06 -7.02 60 448 544 1,480
Net Nonoperating Expense (NNE)		 3.14 5.29 3.49 2.46 3.46 4.37 6.92 4.28 -3.37 85 -404
Net Nonoperating Obligations (NNO)		 10 14 15 25 26 19 5.54 -58 -373 -639 -1,552
Total Depreciation and Amortization (D&A)		 2.14 2.29 1.95 1.85 2.19 2.20 4.77 2.78 1.76 3.55 6.68
Debt-free, Cash-free Net Working Capital to Revenue		 -2.05% -10.60% -12.03% 11.97% 43.64% 2.30% -16.45% 11.74% 3.93% - -4.23%
Debt-free Net Working Capital to Revenue		 185.40% 85.13% 94.32% 65.99% 79.44% 419.38% 218.49% 436.69% 1,831.10% - 1,532.88%
Net Working Capital to Revenue		 -47.14% -78.60% -105.23% -247.59% -278.39% -42.49% -64.91% 370.21% 1,808.43% - 1,531.89%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.15) ($0.25) ($0.17) ($0.14) ($0.15) ($0.15) ($0.15) ($0.08) ($0.03) ($0.36) $0.58
Adjusted Weighted Average Basic Shares Outstanding		 53.89M 52.74M 63.04M 66.38M 70.74M 69.92M 105.00M 150.65M 259.91M 221.77M 445.09K
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 ($0.15) $0.00 ($0.15) ($0.08) ($0.03) ($0.36) $0.56
Adjusted Weighted Average Diluted Shares Outstanding		 58.31M 52.74M 66.27M 69.96M 70.74M 69.92M 105.00M 150.65M 259.91M 221.77M 461.71K
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 58.31M 65.60M 66.27M 69.96M 77.29M 105.73M 137.43M 219.16M 368.46M 467.13M 495.76M
Normalized Net Operating Profit after Tax (NOPAT)		 -4.15 -8.85 -6.39 -5.81 -6.06 -5.96 -7.22 -6.47 -11 -16 -43
Normalized NOPAT Margin		 -155.85% -178.42% -1,022.23% -606.83% -409.41% -144.40% -169.89% -103.20% -107.47% - -85.08%
Pre Tax Income Margin		 -273.62% -282.66% -1,580.15% -863.36% -643.32% -251.14% -332.76% -171.36% -71.04% - 721.23%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -7.16 -14.30 -11.74 -10.88 -10.07 -7.14 -2.71 -6.05 -19.62 - 1,042.35
NOPAT to Interest Expense		 -4.65 -9.58 -8.16 -8.26 -6.96 -4.72 -1.87 -4.15 -24.42 - -126.16
EBIT Less CapEx to Interest Expense		 -7.15 -14.41 -13.26 -12.43 -9.30 -7.16 -2.75 -6.11 -20.01 - 1,038.73
NOPAT Less CapEx to Interest Expense		 -4.64 -9.69 -9.68 -9.82 -6.18 -4.75 -1.91 -4.21 -24.80 - -129.78
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%

Financials Breakdown Chart

Key Financial Trends

Ondas (NASDAQ:ONDS) has shown a mix of topline growth in late 2025 with ongoing losses and a heavy reliance on financing to fund operations. Below are the key takeaways from the last four years of quarterly statements, focusing on trends in revenue, profitability, cash flows, and the balance sheet.

  • In Q4 2025, Ondas raised about $414.5 million through the issuance of common equity, providing a large liquidity boost (Issuance of Common Equity: $414,496,093; Net cash from continuing financing activities: $414,497,520).
  • Net cash from financing activities in Q4 2025 was about $414.5 million, contributing to a net cash increase of roughly $160.4 million for the quarter (Net Change in Cash & Equivalents: $160,380,764).
  • Revenue in Q4 2025 surged to $30.11 million, up from earlier quarters (Q3 2025 Revenue: $10.10 million), suggesting topline acceleration.
  • Gross margin improved in Q4 2025 to about 42% (Total Gross Profit: $12.73 million on $30.11 million revenue), versus historically lower margins.
  • Non-Cash Adjustments To Reconcile Net Income in Q4 2025 were $91.63 million, indicating large non-cash items affecting reported earnings.
  • Weighted average shares outstanding surged in Q4 2025: Basic 221.8M and Diluted 221.8M, with Total Weighted Average Basic & Diluted Shares outstanding about 467.1 million, signaling dilution from equity issuances.
  • Net income attributable to common shareholders in Q4 2025 was -$101.0 million, continuing a pattern of annual losses driven by large non-operating expenses.
  • Cash flow from operating activities remained negative in 2025 (Q4: -$12.7 million; Q3: -$10.95 million), indicating ongoing cash burn from core operations.
  • Other Income / (Expense), net swung to a large loss in Q4 2025 (-$77.5 million), a major drag on pre-tax results.
  • Debt load remains modest, but sustainability questions linger as the company continues to post losses and relies on equity financing to fund operations.
06/03/26 08:22 AM ETAI Generated. May Contain Errors.

Ondas Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Ondas' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Ondas' net income appears to be on an upward trend, with a most recent value of -$133.38 million in 2025, rising from -$19.78 thousand in 2015. The previous period was -$38.01 million in 2024. View Ondas' forecast to see where analysts expect Ondas to go next.

Ondas' total operating income in 2025 was -$58.38 million, based on the following breakdown:
  • Total Gross Profit: $20.16 million
  • Total Operating Expenses: $78.54 million

Over the last 10 years, Ondas' total revenue changed from $3.89 thousand in 2015 to $50.73 million in 2025, a change of 1,303,703.6%.

Ondas' total liabilities were at $661.23 million at the end of 2025, a 797.5% increase from 2024, and a 2,336,140.0% increase since 2015.

In the past 10 years, Ondas' cash and equivalents has ranged from $2.38 thousand in 2016 to $550.74 million in 2025, and is currently $550.74 million as of their latest financial filing in 2025.

Over the last 10 years, Ondas' book value per share changed from -0.01 in 2015 to 1.97 in 2025, a change of -29,132.4%.


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Financial statements for NASDAQ:ONDS last updated on 5/19/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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