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Ondas Holdings Inc
NASDAQ:ONDS

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Ondas Holdings Inc
NASDAQ:ONDS
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Price: 9.45 USD -0.84% Market Closed
Market Cap: $4.3B

Ondas Holdings Inc
Investor Relations

Ondas Holdings, Inc. engages in the development, marketing, and sale of wireless radio systems for secure, wide area mission-critical business-to-business networks. The company is headquartered in Waltham, Massachusetts and currently employs 74 full-time employees. The company went IPO on 2018-02-01. Ondas Networks provides wireless connectivity solutions enabling mission-critical Industrial Internet applications and services. The firm designs, develops, manufactures, sells, and supports FullMAX, a software defined radio (SDR) platform for secure, licensed, private, wide-area broadband networks. FullMAX SDR platform is designed to enable secure and reliable industrial-grade connectivity for mission-critical applications. The end-to-end FullMAX network consists of connected wireless base stations, fixed and mobile edge radios. The firm offers a range of products with different options for narrowband and broadband applications. The firm also offers image processing and machine learning software solutions for rail infrastructure monitoring and inspections.

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Last Earnings Call
Fiscal Period
Q4 2025
Call Date
Mar 25, 2026
AI Summary
Q4 2025

Revenue: Ondas reported Q4 revenue of $30.1 million (up 629% YoY, ~200% sequentially) and full-year 2025 revenue of $50.7 million (up 605% YoY), beating prior guidance.

Outlook: Management raised 2026 revenue guidance to at least $375 million and expects Q1 revenue of $38–40 million.

Acquisitions: Announced five Q1 2026 acquisitions (Rotron, Mistral, Bird, Indo Earth and WorldView); ~ $550 million of capital deployed for those deals and an estimated ~$230 million of 2026 revenue from them.

Balance sheet: Ended year with $594 million cash (pro forma > $1.5 billion after January financing); warrant liability recorded at $489 million (mark-to-market swings expected).

Profitability path: Product companies expected to be positive EBITDA in Q3 2026, Ondas Autonomous Systems in Q3 2027 and Ondas Inc. in Q1 2028.

Strategic partnerships: Joint venture in Europe with Heidelberg (Amberg) for localized manufacturing and a commercial / sovereign presence; WorldView acquisition plus Palantir partnership to offer a multi-domain, software-defined ISR stack.

Warrant accounting hit: Noncash Black–Scholes revaluation produced an ~$82.2 million charge in Q4, driving reported net loss volatility but not impacting cash operations.

Key Financials
Revenue (Q4)
$30.1 million
Revenue (FY 2025)
$50.7 million
Organic revenue growth
63% YoY
Gross profit (Q4)
$12.7 million
Gross margin (Q4)
42%
Gross margin (FY 2025)
40%
Operating expenses (Q4)
$36.1 million
Cash operating expenses (Q4)
$23.6 million
Noncash warrant revaluation charge (Q4)
$82.2 million
Other income (Q4)
$10.7 million
Net loss (Q4)
$101 million
Adjusted EBITDA (Q4)
loss of $9.9 million
Net loss (FY 2025)
$133.4 million
Adjusted EBITDA (FY 2025)
loss of $31.3 million
Cash, cash equivalents and restricted cash (YE 2025)
$594 million
Cash used in operating activities (FY 2025)
$38.7 million
Cash used in investing activities (FY 2025)
$260 million
Cash provided by financing activities (FY 2025)
$863 million
Debt reduction (FY 2025)
$41.7 million reduced
Warrant liability (YE 2025)
$489 million
Shareholders' equity (YE 2025)
$441 million
2026 revenue target
at least $375 million
Q1 2026 revenue expectation
$38 million to $40 million
Acquisition capital for 5 Q1 companies
$550 million (approximate)
Institutional ownership
approximately 33%
Earnings Call Recording
Other Earnings Calls

Management

Mr. Eric Ashley Brock CPA
Chairman, CEO & President
No Bio Available
Mr. Neil J. Laird
Interim CFO, Treasurer & Secretary
No Bio Available
Mr. Jim Taylor
President of Transportation Business Unit
No Bio Available
Mr. Meir Kliner
President of Ondas Autonomous Systems
No Bio Available
Mr. Guy R. Simpson
President & COO of Ondas Networks
No Bio Available

Contacts

Address
MASSACHUSETTS
Waltham
411 Waverley Oaks Road, Suite 114
Contacts
+16314187044.0
www.ondas.com
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