Ondas Holdings Stock Earnings Reports

Key points for investors: Ondas reported a strong start to 2026 with Q1 revenue of $50.1M (10x YOY, +66% vs Q4 2025) and product-company EBITDA profitability achieved about two quarters ahead of plan. The company raised full-year 2026 revenue guidance to at least $390M, supported by backlog of roughly $450–457M and an active $4.3B pipeline of opportunities. Strategic M&A (WorldView, Mistral and others) and a Palantir partnership are central to Ondas' multi-domain systems-of-systems strategy (air, ground, stratosphere); Sky Weaver (Palantir AIP at the edge) is being positioned as the mission-autonomy intelligence layer to fuse multi-domain sensors and enable higher-value, outcome-based offerings. Ondas deployed Iron Wave systems operationally in combat environments and reported notable order momentum across Centrix, Bird Aerosystems and its robotics businesses. The balance sheet is a competitive advantage: approximately $1.48B in cash, equivalents and short-term investments and virtually no debt, though GAAP earnings will continue to show variability from noncash warrant mark-to-market accounting (warrant liability recorded at ~$1.1B). Adjusted EBITDA remained negative in Q1 (loss ~$10.9M), with management expecting improved cash efficiency and mid/long-term profitability as revenue scales; OAS EBITDA profitability is now expected in Q1 2027 (six months earlier than prior guidance). Management continues to emphasize disciplined OpEx growth to build global operating scale, and they expect M&A capacity materially expands potential annualized revenue over time while remaining selective.