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Ondas Inc. cash flow statement

In fiscal 2025, Ondas Inc.'s operations generated −$38.7m of cash; it spent $2.0m on capital projects, leaving free cash flow of −$40.8m.

Cash flow statement

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

Fiscal year2017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash from operations−3−9−15−8−17−38−34−33−39−161
Depreciation and amortisation0000245112
Stock-based pay0—1536111626
Capital spending—1001302211
Free cash flow—−9−15−8−18−41−34−35−41−172
Free cash flow after stock pay——−16−12−21−47−35−36−57−198
Shares issued00631486—78301,746

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Ondas Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Ondas Inc.