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Ondas reported revenue of about 84 million dollars for the quarter, far higher than the 70 million dollars analysts expected. This represents a massive jump from the same period last year, driven by a surge in new orders for its industrial drone fleets and private wireless networks. The company also lost less money than expected, reporting a loss of 3 cents per share compared to the 9 cents analysts had penciled in.
The business is showing real signs of scaling, with its backlog of future work now sitting at about 613 million dollars. Management raised its full-year sales target to between 525 million and 550 million dollars and said it expects to reach profitability sooner than originally planned. With 1.4 billion dollars in cash on hand, the company has a significant cushion to fund its growth without needing to raise more money from shareholders soon.
See the full quarter, and how our tracked metrics did
Source: 8-K filing
Ondas has been chosen for a multi-million-dollar program called Digital Bat to build next-generation tactical attack drones for Israel. The project focuses on creating low-cost, software-driven drones that can be produced at scale, a priority that mirrors recent U.S. military drone initiatives.
This selection is a clear win for the company's defense strategy. It shows that its technology is being integrated into national defense frameworks during active conflicts, which can lead to more consistent, long-term government contracts.
Ondas has officially closed its acquisition of Cyberhawk, a firm that specializes in using drones and AI to inspect critical infrastructure like power lines and oil rigs. This move adds visual data management and asset analytics to the Ondas portfolio.
By folding in Cyberhawk, Ondas is moving beyond just selling drone hardware and into the software and services that help industrial customers manage their assets. This shift is important for building more predictable, recurring revenue over time.
David Barnea, the former Director of the Mossad, has joined Ondas. Barnea recently led the Israeli intelligence agency through a period of significant technological transformation and active conflict, overseeing the development of advanced intelligence tools.
His arrival is a major development for a company focused on selling defense and security technology. His deep ties to the Israeli defense establishment and experience with high-stakes technology deployment should help Ondas win more international government contracts and integrate its various drone and wireless platforms.
Source: 8-K filing
The Air Force Research Laboratory awarded Ondas a contract worth more than $6 million to develop the Long-Range Grasshopper, a system designed for autonomous aerial logistics. The technology is being integrated into the Ondas Sentinel platform following the company's recent purchase of DZYNE. While the dollar amount is relatively small, this award keeps Ondas deeply embedded in the U.S. defense pipeline. It provides a funded path to refine its delivery drones, which could eventually lead to larger production orders for military logistics.
The company has a habit of beating expectations, often by wide margins, which suggests the business is growing much faster than analysts can keep up with.
| Expectation | |
|---|---|
| EPS | $-0.09 |
| Revenue | $68M |