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Ondas Inc. (ONDS) stock

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NASDAQ: ONDS Nasdaq Communications Equipment Next results ~November 12, 2026

C Fundamentals grade

Ondas Inc. is a US-listed company in the communications equipment industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$7.4

Price-to-earnings vs peers

Base case. Range ~$7.0–$12. Earnings per share times peers' typical (harmonic-mean) price-to-earnings.

Price vs value

No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.

Ondas Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 6 selling0 purchases and 23 sales by directors and officers, last 12 monthsInsider trades
  • Funds300 adding, 153 cuttingOf 46 active managers that changed their stake, 22 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Ondas files

Where Ondas stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $174m, up 979.3% on a year earlier, faster than the 793.2% growth a quarter earlier. That growth ranks 1 of 27 among the communications equipment companies we cover. Free-cash-flow margin rose to -98.7% from -197.6% a year earlier. Operating margin widened to -140.4% from -227.7%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 2 of our 3 financial-health checks.

Source: 10-Q filed August 13, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 12, 2026 (estimated)

Ondas Inc.'s trailing-twelve-month revenue grew 979.3% year on year, with a free-cash-flow margin of -98.7%. Where it stands out: revenue growth of 979.3% ranks 1 of 40 communications equipment companies we cover. Where it lags: stock pay as % of revenue of 15.0% ranks 37 of 37 communications equipment companies we cover.

Current signal Revenue growth accelerating: TTM revenue growth rose to 979.3% (+186.1pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 979.3% over the last 12 months, against a median of 11.3% for communications equipment companies we cover.
  • Growth speeding up. The growth rate is 186.1 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 87.3 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $0.7bn.

Things to watch

  • Loss-making. Operating margin is -140.4%: costs exceed revenue.
  • Burning cash. Free cash flow was -98.7% of revenue over the last 12 months.
  • Heavy stock-based pay. Stock pay equals 15.0% of revenue, against a median of 3.9% for communications equipment companies we cover: a real cost that cash-flow figures leave out.
  • Share dilution. Diluted shares rose 31.9% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 108% and a beta of 3.2 against the S&P 500.
  • Insiders selling. 6 insiders sold $44M of stock over the past 365 days and none bought (0% under pre-set trading plans).

Latest results: FY2026 Q2

Filed August 13, 2026
Earnings per share
-$0.10 against an average estimate of -$0.07: missed by 48.1%
Revenue
$84m, up 1235.4% on a year earlier
Share reaction
-5.4% in the first session after the results on August 13, 2026, against +0.5% for the S&P 500
Next report
November 12, 2026; average EPS estimate -$0.09

Ondas' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-9.0%
  • 1 week-6.7%
  • 1 month-20.6%
  • This year-41.1%
  • 1 year-10.7%
  • 5 years-36.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$174M
Operating margin
-140.4%
Net margin
96.0%

Growth

Revenue growth
+979.3%
Change in growth rate
+186.1 pts

Cash

Free cash flow (TTM)
-$172M
FCF margin
-98.7%
Stock pay % of revenue
15.0%

Earnings

Last results
August 13, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Share issue
  3. Deal
  4. Share issue
  5. Results
  6. Deal
  7. Leadership
  8. Share issue
  9. Deal

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Ondas Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 1 valuation models apply; a rating needs 3.

Valuation models

We value Ondas Inc. as an operating company, with every model that fits that kind of business. Cost of equity 11.4%: the 10-year Treasury yield (4.9%) plus a beta of 1.43 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$7.4 ~$7.0–$12 Primary model, counts double
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: revenue and margins don't support a positive value
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$0.3 ~$0.2–$1.3 Left out: out of range vs price (0.06x)
Combined value Weighted average of the models that apply: the primary model (price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$7.4 ~$7.0–$12 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Ondas Inc. with Communications Equipment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 202020212022202320242025
Share price$9.33$6.71$1.59$1.53$2.56$9.76
Market value$572m$688m$201m$242m$537m$2.2bn
+ Net debt (− = net cash)−$18m−$41m−$29m$14m$19m−$542m
Enterprise value$554m$648m$172m$256m$556m$1.6bn
Multiples
Price / sales n/mn/m94.8x15.4x74.7x42.7x
Price / earnings ——————
Price / free cash flow ——————
EV / EBITDA ——————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

16 /100

Weak moat

How hard Ondas's competitive advantage looks for rivals to wear away, judged from 9 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Cash operating profit has been a median -24.8% of total assets over 5 years.

  • Pricing power 7 / 20

    Gross margin has been a median 43.7%, moving by 17.0 percentage points (standard deviation) across 9 years.

  • Durability 10 / 20

    Operating margin has been a median -754.3%; its worst year was -4337.1%.

  • Cash conversion 0 / 20

    Free cash flow was positive in 0 of 7 years, at a median -417.1% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (21 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 12, 2026, before the open. Analysts expect revenue of $148m and EPS of −$0.09 (range −$0.09 to −$0.09) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.21 −16% $537m +958%
Next −$0.02 +91% $1.0bn +89%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +50.0% on 90 days ago. In the last 30 days, 0 analysts raised Ondas Inc.'s forecast and 1 cut it.

Consensus EPS forecast Ondas Inc., last 90 days
−$0.30 −$0.20 −$0.10 $0.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.14 Current fiscal year, 60 days ago: −$0.18 Current fiscal year, 30 days ago: −$0.21 Current fiscal year, 7 days ago: −$0.21 Current fiscal year, Now: −$0.21 −$0.21 Next fiscal year, 90 days ago: −$0.05 Next fiscal year, 60 days ago: −$0.03 Next fiscal year, 30 days ago: −$0.02 Next fiscal year, 7 days ago: −$0.02 Next fiscal year, Now: −$0.02 −$0.02

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.14−$0.05
60 days ago −$0.18−$0.03
30 days ago −$0.21−$0.02
7 days ago −$0.21−$0.02
Now −$0.21−$0.02

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.07 −$0.10 −48.1%
Mar 2026 −$0.03 −$0.07 −123.7%
Dec 2025 −$0.04 −$0.03 +20.0%
Sept 2025 −$0.03 −$0.01 +61.6%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

10 analysts, Oct 2026
Buy10100%
Hold00%
Sell00%

Monthly trend

  1. Oct 20263710
  2. Sep 2026279
  3. Aug 2026279
  4. Jul 2026268

Counts of recommendations published by analysts covering Ondas Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
43.9%
of tradable shares
Days to cover
4.11
at average volume
Short interest, 1 month
+7%
to October 15, 2026
Held by institutions
58%
of shares
Held by insiders
1.8%
of shares
Employees
459
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
ONDS−28%−76%−4%+67%+281%−41%
Industry peers (median)+18%−18%−12%+23%+1%−3%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
ONDS33%42%33%25%67%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
ONDS−63%−82%−86%−71%−76%−59%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since December 4, 2020: 98% from February 16, 2021 to October 25, 2023. Getting back needed a 4483% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$5.25 – $14.01
From 52-week high
−59.0%
vs 50-day average
−19.3%
vs 200-day average
−36.1%
Volatility (1 year)
108%
Beta vs S&P 500
3.25

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
8 up, 4 down
typical move ±9.2%
After a week
7 up, 5 down
typical move ±12.6%
After a month
8 up, 4 down
typical move ±33.1%
Results releasedNext dayS&P 500 next day5 days21 days
August 13, 2026 −5.4% +0.5% −14.2% −26.0%
May 14, 2026 +19.9% −0.4% +3.6% +7.3%
March 25, 2026 −11.6% −1.2% −17.5% −1.2%
March 23, 2026 +6.2% +0.7% −19.0% +9.9%
March 9, 2026 +1.8% +0.7% +7.1% −3.9%
January 16, 2026 +2.4% −2.1% −12.9% −13.7%
November 13, 2025 +30.3% −1.7% +13.8% +39.6%
August 12, 2025 +2.6% +1.4% +4.7% +87.2%
July 9, 2025 +12.3% +0.9% +34.1% +81.6%
May 15, 2025 +6.2% +1.1% +3.8% +92.9%
March 12, 2025 −6.5% −0.8% +4.7% +7.0%
November 12, 2024 −5.5% −0.3% −16.2% +27.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Ondas Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Ondas Inc.
$0 $50M $100M $150M $200M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $11.2M Revenue (TTM), FY23 Q4: $15.7M Revenue (TTM), FY24 Q1: $13.7M Revenue (TTM), FY24 Q2: $9.2M Revenue (TTM), FY24 Q3: $8M Revenue (TTM), FY24 Q4: $7.2M Revenue (TTM), FY25 Q1: $10.8M Revenue (TTM), FY25 Q2: $16.1M Revenue (TTM), FY25 Q3: $24.7M Revenue (TTM), FY25 Q4: $50.7M Revenue (TTM), FY26 Q1: $96.6M Revenue (TTM), FY26 Q2: $174.1M $174.1M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $11.2M
FY23 Q4 $15.7M
FY24 Q1 $13.7M
FY24 Q2 $9.2M
FY24 Q3 $8M
FY24 Q4 $7.2M
FY25 Q1 $10.8M
FY25 Q2 $16.1M
FY25 Q3 $24.7M
FY25 Q4 $50.7M
FY26 Q1 $96.6M
FY26 Q2 $174.1M
Revenue growth, TTM YoY Ondas Inc.
-500% 0% 500% 1000% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 405.3% Revenue growth, TTM YoY, FY23 Q4: 638.1% Revenue growth, TTM YoY, FY24 Q1: 218.2% Revenue growth, TTM YoY, FY24 Q2: 0.4% Revenue growth, TTM YoY, FY24 Q3: -28.4% Revenue growth, TTM YoY, FY24 Q4: -54.2% Revenue growth, TTM YoY, FY25 Q1: -21.2% Revenue growth, TTM YoY, FY25 Q2: 75.2% Revenue growth, TTM YoY, FY25 Q3: 208.4% Revenue growth, TTM YoY, FY25 Q4: 605.3% Revenue growth, TTM YoY, FY26 Q1: 793.2% Revenue growth, TTM YoY, FY26 Q2: 979.3% 979.3%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 405.3%
FY23 Q4 638.1%
FY24 Q1 218.2%
FY24 Q2 0.4%
FY24 Q3 -28.4%
FY24 Q4 -54.2%
FY25 Q1 -21.2%
FY25 Q2 75.2%
FY25 Q3 208.4%
FY25 Q4 605.3%
FY26 Q1 793.2%
FY26 Q2 979.3%
Operating margin (TTM) Ondas Inc.
-600% -400% -200% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -549.6% Operating margin (TTM), FY23 Q4: -253.2% Operating margin (TTM), FY24 Q1: -263.9% Operating margin (TTM), FY24 Q2: -391.0% Operating margin (TTM), FY24 Q3: -482.7% Operating margin (TTM), FY24 Q4: -481.1% Operating margin (TTM), FY25 Q1: -330.9% Operating margin (TTM), FY25 Q2: -227.7% Operating margin (TTM), FY25 Q3: -176.1% Operating margin (TTM), FY25 Q4: -115.1% Operating margin (TTM), FY26 Q1: -93.9% Operating margin (TTM), FY26 Q2: -140.4% -140.4%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -549.6%
FY23 Q4 -253.2%
FY24 Q1 -263.9%
FY24 Q2 -391.0%
FY24 Q3 -482.7%
FY24 Q4 -481.1%
FY25 Q1 -330.9%
FY25 Q2 -227.7%
FY25 Q3 -176.1%
FY25 Q4 -115.1%
FY26 Q1 -93.9%
FY26 Q2 -140.4%
FCF margin (TTM) Ondas Inc.
-600% -400% -200% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -350.8% FCF margin (TTM), FY23 Q4: -218.1% FCF margin (TTM), FY24 Q1: -218.0% FCF margin (TTM), FY24 Q2: -335.1% FCF margin (TTM), FY24 Q3: -411.1% FCF margin (TTM), FY24 Q4: -488.0% FCF margin (TTM), FY25 Q1: -307.8% FCF margin (TTM), FY25 Q2: -197.6% FCF margin (TTM), FY25 Q3: -139.8% FCF margin (TTM), FY25 Q4: -80.4% FCF margin (TTM), FY26 Q1: -89.6% FCF margin (TTM), FY26 Q2: -98.7% -98.7%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -350.8%
FY23 Q4 -218.1%
FY24 Q1 -218.0%
FY24 Q2 -335.1%
FY24 Q3 -411.1%
FY24 Q4 -488.0%
FY25 Q1 -307.8%
FY25 Q2 -197.6%
FY25 Q3 -139.8%
FY25 Q4 -80.4%
FY26 Q1 -89.6%
FY26 Q2 -98.7%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 0 0 0 2 3 2 16 7 51 174
Gross profit 0 0 0 1 1 1 6 0 20 76
EBITDA −2 −8 −15 −11 −16 −65 −35 −34 −57 −242
Operating income −2 −8 −15 −12 −18 −69 −40 −35 −58 −244
Net income −3 −12 −19 −13 −15 −73 −45 −38 −132 167
Diluted EPS −$0.06 −$0.14 −$0.37 −$0.22 −$0.15 −$0.58 −$0.29 −$0.20 −$0.62 —
Growth (year on year)
Revenue — −30.7% +68.6% +575.4% +34.3% −26.9% +638.1% −54.2% +605.3% +979.3%
Margins
Gross margin 70.9% 79.3% 75.3% 42.9% 37.7% 52.2% 40.7% 4.8% 39.7% 43.7%
EBITDA margin −867.7% <−999% <−999% −527.2% −566.3% <−999% −221.4% −472.8% −113.2% −139.2%
Operating margin −872.6% <−999% <−999% −532.6% −618.3% <−999% −253.2% −481.1% −115.1% −140.4%
Net margin <−999% <−999% <−999% −622.9% −516.9% <−999% −285.8% −528.4% −260.7% 96.0%
Free-cash-flow margin — <−999% <−999% −348.6% −613.0% <−999% −218.1% −488.0% −80.4% −98.7%
Cash flow
Cash from operations −3 −9 −15 −8 −17 −38 −34 −33 −39 −161
Capital spending — 1 0 0 1 3 0 2 2 11
Free cash flow — −9 −15 −8 −18 −41 −34 −35 −41 −172
Stock-based pay 0 — 1 5 3 6 1 1 16 26
Free cash flow after stock pay — — −16 −12 −21 −47 −35 −36 −57 −198
Balance sheet
Cash 0 1 2 26 41 30 15 30 551 658
Total debt 7 10 — 8 0 1 29 49 8 5
Net debt (negative = net cash) 6 9 −2 −18 −41 −29 14 19 −542 −653
Diluted shares 49m 86m 53m 61m 103m 127m 158m 210m 222m —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 3 checks passed · June 30, 2026
What it owns · $3.0bn
Short-term assets $1.6bnLonger-term assets $1.4bn
What it owes, and who funded it · $3.0bn
Short-term liabilities $163mLonger-term liabilities $1.3bnShareholders' equity $1.6bn
  • Short-term assets cover short-term liabilities $1.6bn of assets due within a year against $163m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.6bn short-term assets against $1.3bn of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of −$244m against $3m of interest.

From Ondas Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

R&D spending
33.1%
of revenue
Days sales outstanding
161 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in communications equipment
Last 12 months unless stated ONDS INSG CLFD KVHI AUDC CMTL Median
Revenue, last 12 months $174m $173m $154m $125m $246m $250m $324m
Revenue growth, last 12 months 979.3% −0.8% 34.0% 15.8% 1.4% −17.0% 11.0%
Revenue growth, 3-year average 166.7% −8.6% −21.2% −3.5% 21.4% −23.2% 4.1%
Revenue growth, latest quarter >999% 9.4% 13.2% 26.7% — −8.6% 12.9%
Gross margin 43.7% 41.1% 33.0% 1.7% 65.0% 38.9% 43.7%
Operating margin −140.4% −4.3% −0.2% −7.0% 5.7% −7.3% 2.2%
Operating margin, 3-year average −253.1% −6.3% −4.3% −11.3% 9.3% −10.7% −1.4%
Net margin 96.0% −6.4% −4.7% −4.7% 3.6% −14.5% −0.0%
Cash from operations / revenue −92.5% −4.0% 10.3% 5.5% 12.0% 15.0% 9.9%
Free-cash-flow margin −98.7% −4.5% 8.2% −2.7% 9.3% 8.9% 7.7%
Free-cash-flow margin, 3-year average −210.5% 2.3% 11.2% −6.5% 12.7% −3.1% 2.2%
Stock pay / revenue 15.0% 5.5% 3.1% 1.2% 2.7% 1.3% 3.9%
Change in share count 31.9% 12.0% −2.5% −0.1% −5.4% 1.5% 1.5%

Median of all 40 companies we cover in communications equipment. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

40 communications equipment companies
Measure Company Peer median Rank
Revenue growth Growth 979.3% 11.3% 1 of 40
Change in growth rate Growth +186.1pp +2.0pp 1 of 40
Gross margin Profitability 43.7% 44.1% 20 of 36
Operating margin Profitability -140.4% 2.4% 38 of 40
Net margin Profitability 96.0% 0.6% 1 of 40
Free-cash-flow margin Cash generation -98.7% 8.2% 36 of 38
Stock pay as % of revenue Cash generation 15.0% 3.9% 37 of 37
Long-term debt as % of assets Balance sheet 0.1% 10.4% 5 of 23
Days sales outstanding Balance sheet 161 days 75 days 33 of 34

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Product Revenue $34.6M 68.2% ▲ 1136.9%
Service Revenue $10.2M 20.2% ▲ 311.0%
Development Revenue $5.9M 11.6% ▲ 210.1%
Service and Subscription Revenue $10,241 0.0% ▲ 311.0%
Geography
Region Revenue Share YoY
Israel $30.8M 60.8% ▲ 620.0%
Other Countries $7.8M 15.5% ▲ 2283.3%
Germany $6.6M 13.0% —
AE $3.9M 7.7% ▲ 417.0%
United States $1.6M 3.1% ▼ 14.1%

From Ondas Inc.'s 10-K filed March 30, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$2.3B
Institutions reporting
416
Shares held vs prior quarter
▲ 41.0%
Positions opened / closed
129 / 77

Top buyers and sellers, Q2 2026: 300 institutions bought and 153 sold ; the biggest buyer was Blackrock, Inc (+30.2M shares) and the biggest seller Defiance Etfs, LLC (−9.1M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $325M 39.5M 14.1% ▲ 324.2%
Vanguard Capital Management LLC $181M 21.9M 7.8% ▲ 19.7%
State Street Corp $128M 15.6M 5.5% ▲ 142.6%
Geode Capital Management, LLC $105M 12.7M 4.5% ▲ 139.9%
Vanguard Portfolio Management LLC $103M 12.5M 4.4% ▲ 8905.8%
Hood River Capital Management LLC $96.3M 11.7M 4.2% ▲ 13.9%
Morgan Stanley $94.3M 11.4M 4.1% ▲ 78.7%
Van Eck Associates Corp $84.7M 10.3M 3.7% ▲ 0.9%
UBS Group AG $56.6M 6.9M 2.4% ▲ 88.6%
Marex Group Ltd $56.1M 6.8M 2.4% ▲ 38.3%
Jpmorgan Chase & Co $53.1M 6.6M 2.3% ▼ 5.0%
Northern Trust Corp $36.2M 4.4M 1.6% ▲ 289.7%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Ondas Inc.'s complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $44.2M 23 trades by 6 insiders · 0% under pre-set plans
Net ▼ $44.2M net selling
Insider Date Trade Shares Price Value
Laird Neil J CFO and Treasurer September 24, 2026 Sell 4,952 $7.74 $38,328
Cohen Richard M Director August 18, 2026 Sell pre-set plan 7,500 $8.96 $67,200
Brock Eric A Chairman, CEO and President June 2, 2026 Sell 2,378,245 $13.43 $31.9M
Cohen Richard M Director May 20, 2026 Sell 7,500 $9.50 $71,250
Seidl Randy Director May 19, 2026 Sell 10,000 $9.83 $98,300
Brock Eric A Chairman, CEO and President December 31, 2025 Sell 475,000 $9.71 $4.6M
Laird Neil J CFO, Secretary and Treasurer December 22, 2025 Sell 4,526 $9.48 $42,906
Cohen Richard M Director December 22, 2025 Sell 6,143 $9.48 $58,236
Cohen Richard M Director December 22, 2025 Sell 6,985 $9.48 $66,218
Cohen Richard M Director December 22, 2025 Sell 5,726 $9.48 $54,282
Cohen Richard M Director December 22, 2025 Sell 457 $9.48 $4,332
Cohen Richard M Director December 22, 2025 Sell 824 $9.48 $7,812

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

  • August 13, 2026
  • May 14, 2026
  • March 25, 2026
  • March 23, 2026
  • March 9, 2026
  • January 16, 2026

Recent SEC filings

Data status

When each part of this page on Ondas Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Ondas Inc. in brief

What does Ondas Inc. do?
Ondas Inc. is a US-listed company in the communications equipment industry. Its financial year ends in December.
What is Ondas Inc.'s stock ticker?
Ondas Inc. trades under the ticker ONDS on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Ondas Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Ondas Inc. reported revenue of $174M, 979.3% higher than a year earlier, according to its SEC filings.
What is Ondas Inc.'s free cash flow?
Ondas Inc.'s free-cash-flow margin is -98.7% of revenue over the trailing twelve months, ranking 36 of the 38 communications equipment companies we cover.
Who are Ondas Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and State Street Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Ondas Inc.'s market cap?
On December 31, 2025, Ondas Inc.'s market capitalisation was about $2.2B and net debt of -$542M. Market figures come from third-party market data and may be delayed.
Who are Ondas Inc.'s competitors?
In our Communications Equipment peer group, the companies closest to Ondas Inc. are Inseego Corp., Clearfield, Inc., KVH Industries Inc \de\, Audiocodes LTD and Comtech Telecommunications Corp. The side-by-side comparison below sets their revenue, margins and growth against Ondas Inc.'s.
Are insiders buying or selling Ondas Inc. stock?
Over the last 12 months, Ondas Inc.'s directors and officers reported 0 open-market purchases and 23 sales on Form 4. The insider trading page charts every trade.
When is Ondas Inc.'s next earnings date?
Around November 12, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Ondas Inc. announces its own schedule.