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Ondas Holdings
(NASDAQ:ONDS)
Ondas Holdings (ONDS) vs. SPDR S&P 500 ETF (SPY)
Ondas Holdings Business Overview & Revenue Model
Ondas Holdings Earnings Call Summary
Ondas Holdings Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 16.13M | 7.19M | 15.69M | 2.13M | 2.91M | 2.16M |
| Gross Profit | 5.75M | 345.18K | 6.38M | 1.11M | 1.10M | 927.67K |
| EBITDA | -28.73M | -28.72M | -34.64M | -64.63M | -15.55M | -11.14M |
| Net Income | -45.96M | -38.01M | -44.84M | -73.24M | -15.02M | -13.48M |
Balance Sheet | ||||||
| Total Assets | 151.95M | 109.62M | 92.16M | 97.95M | 117.44M | 28.51M |
| Cash, Cash Equivalents and Short-Term Investments | 67.57M | 29.96M | 14.98M | 29.78M | 40.82M | 26.06M |
| Total Debt | 23.21M | 60.31M | 35.29M | 33.39M | 1.09M | 8.03M |
| Total Liabilities | 37.21M | 93.04M | 44.88M | 39.72M | 5.21M | 13.43M |
| Stockholders Equity | 90.82M | 16.58M | 33.14M | 58.22M | 112.23M | 15.08M |
Cash Flow | ||||||
| Free Cash Flow | -31.77M | -35.20M | -34.30M | -40.89M | -17.92M | -7.57M |
| Operating Cash Flow | -32.26M | -33.47M | -34.02M | -37.96M | -16.90M | -7.53M |
| Investing Cash Flow | 277.38K | -1.73M | 536.27K | -6.93M | -10.21M | -16.14K |
| Financing Cash Flow | 95.56M | 50.18M | 18.73M | 33.86M | 41.86M | 31.46M |
Ondas Holdings Technical Analysis
Ondas Holdings Risk Analysis
Ondas Holdings Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $184.79M | ― | -14.61% | ― | -23.33% | -142.22% | |
63 Neutral | $1.53B | ― | -81.20% | ― | 75.16% | 28.13% | |
61 Neutral | $35.55B | 8.91 | -10.55% | 1.87% | 8.47% | -8.26% | |
57 Neutral | $115.66M | ― | -4.46% | ― | -12.22% | 71.69% | |
55 Neutral | $199.17M | 40.34 | 111.75% | ― | -10.99% | ― | |
50 Neutral | $52.02M | ― | -21.97% | ― | 6.84% | 49.74% | |
| ― | $48.43M | ― | -4.62% | ― | ― | ― |
Ondas Holdings Corporate Events
On August 31, 2025, Ondas Holdings Inc. completed the acquisition of Apeiro Motion Ltd., an Israeli company, for approximately $12 million in cash. This acquisition marks a significant expansion for Ondas Holdings, potentially enhancing its market position and operational capabilities.
On September 2, 2025, Ondas Holdings announced the launch of Ondas Capital, a new business unit aimed at accelerating the global deployment of unmanned and autonomous systems to Allied defense and security markets. James Acuna, a recent addition to the Ondas Autonomous Systems Advisory Board, will lead the investment program, which plans to deploy $150 million over the next two years, focusing initially on Eastern Europe and particularly Ukraine. The initiative is designed to rapidly scale mature defense technologies and create significant value for stakeholders by enhancing market development and localization efforts.
On August 27, 2025, Ondas Holdings Inc. announced the appointment of Mark Green as Head of Global Corporate Development and Mergers & Acquisitions. With over 30 years of experience in investment banking, Green is expected to drive strategic growth and M&A execution, supporting Ondas’ mission to deliver AI-enabled autonomous defense and security capabilities globally. His extensive network and expertise are anticipated to be significant assets in advancing the company’s strategic objectives and creating value for stakeholders.
On August 26, 2025, Ondas Holdings Inc. announced a definitive agreement to acquire a controlling 51% interest in S.P.O. Smart Precision Optics LTD., an Israeli manufacturer of advanced precision optical components and systems. This strategic acquisition aims to expand Ondas’ capabilities in advanced electro-optics, supporting critical optical performance for missile defense and counter-drone systems globally. The acquisition aligns with Ondas’ strategic growth program to scale its global operating platform and deliver capital-efficient accelerated growth. SPO is recognized as a critical supplier to Israeli defense corporations and is part of a select group of companies capable of delivering military-grade precision optics.
Ondas Holdings Inc. has entered into Memoranda of Understanding with Safe Pro Group Inc. and Unusual Machines to collaborate on AI-powered computer vision technologies for drones. This collaboration aims to integrate Safe Pro’s patented AI technology into Ondas’ and Unusual Machines’ offerings, enhancing threat detection capabilities for defense, commercial, and humanitarian markets, particularly focusing on applications in the U.S. Department of Defense and NATO partners.
On August 18, 2025, Ondas Holdings Inc. announced a Share Purchase Agreement to acquire 100% of Apeiro Motion Ltd., an Israeli company. The acquisition involves a cash payment of $12 million, with the option to pay part of the consideration in Ondas’ common stock. The completion of this acquisition is contingent upon regulatory approvals and other conditions, with an expected closing in the third quarter of 2025.
On August 22, 2025, Ondas Holdings announced that James Acuna, a former senior CIA officer and founder of the Baltic Ghost Wing Center of Excellence, has joined the Advisory Board of Ondas Autonomous Systems. This strategic appointment aims to leverage Acuna’s extensive experience in intelligence, defense, and technology to enhance Ondas’ investment and commercialization pathways for unmanned systems. Ondas and Acuna plan to present their framework for investments in unmanned and autonomous technologies at the DSEI 2025 exhibition in London, highlighting the company’s focus on connecting capital, innovation, and markets to address urgent defense and security needs.
On August 20, 2025, Ondas Holdings Inc. announced a strategic investment in Safe Pro Group Inc., a leader in AI-powered defense and security solutions. This investment, part of an $8 million private placement, aims to accelerate the commercialization of Safe Pro’s AI technologies, including the SPOTD and NODE systems, which are recognized by the U.S. Army. The partnership is expected to enhance Ondas’ offerings in the drone industry and support Safe Pro’s mission to advance AI applications in defense and humanitarian sectors.
On August 18, 2025, Ondas Holdings Inc. announced a definitive agreement to acquire Apeiro Motion, an Israeli company specializing in advanced ground robotics and mission-critical automation technologies. This acquisition is set to enhance Ondas’ capabilities in multi-domain autonomy, expand its market reach, and accelerate its access to global defense markets, including the U.S. Department of Defense and NATO. The transaction, valued at $12 million, is expected to close in the third quarter of 2025 and will operate under Ondas Autonomous Systems. Apeiro’s expertise in autonomy software and fiber optic communications will complement Ondas’ existing offerings, supporting the delivery of scalable, high-performance solutions and advancing its dual-use strategy.
On August 15, 2025, Ondas Holdings Inc. announced the closing of its underwritten public offering of 53,084,000 shares of common stock, raising approximately $163 million in net proceeds. The funds are intended for working capital, general corporate purposes, and potential strategic transactions, including acquisitions and investments, which could impact the company’s operations and market positioning.
On August 15, 2025, Ondas Holdings Inc. announced the appointment of Dr. Irit Idan to the Ondas Autonomous Systems Advisory Board. Dr. Idan, a former executive at Rafael Advanced Systems and advisor for SoftBank Vision Fund, brings extensive expertise in AI, robotics, autonomous systems, and defense innovation. Her appointment is part of OAS’s broader growth strategy to enhance its product roadmap, strengthen customer relationships, and accelerate global adoption of its platforms. This move aims to advance OAS’s leadership in autonomous defense, homeland security, and critical infrastructure protection, aligning with the company’s mission to deliver AI-powered solutions worldwide.
On August 13, 2025, Ondas Holdings Inc. entered into an underwriting agreement with Oppenheimer & Co. Inc. for a public offering of 46,160,000 shares of its common stock, with an option for underwriters to purchase an additional 6,924,000 shares. The offering closed on August 14, 2025, generating approximately $141.3 million in net proceeds, which the company plans to use for working capital, general corporate purposes, and potential strategic transactions. This move is expected to bolster Ondas’s financial position and support its strategic growth initiatives, potentially impacting its market presence and stakeholder interests.
In August 2025, Ondas Holdings announced significant developments that enhance its strategic positioning in the defense and commercial drone markets. The company has fortified its leadership team with strategic hires and expanded its operational capabilities through partnerships and acquisitions, including Airobotics, American Robotics, and Iron Drone. Ondas has secured new military contracts in the Middle East, reflecting growing demand for its autonomous systems. The company is also benefiting from favorable U.S. policies promoting domestic drone industries, which are expected to accelerate the adoption of its technologies. Ondas reported a six-fold revenue increase in Q2 2025 compared to the previous year, driven by its multi-year growth plan and strategic M&A activities.
On August 8, 2025, Ondas Holdings Inc. announced a strategic investment in Rift Dynamics AS, a Norwegian defense technology company specializing in affordable, mass-producible combat drone systems. This partnership allows Ondas to exclusively distribute Rift’s Wåsp platform in the U.S. defense market, enhancing its portfolio with a scalable, low-cost drone system designed for NATO interoperability. The investment positions Ondas to meet the growing demand for attritable drone systems in the U.S., with an initial order of 500 Wåsp units and plans for further integration into defense programs.
On August 1, 2025, Ondas Holdings Inc. announced the appointment of Brigadier General (Ret.) Yaniv Rotem to the Advisory Board of its subsidiary, Ondas Autonomous Systems (OAS). Mr. Rotem, with his extensive experience in Israeli defense R&D, will guide OAS’s strategic technology development and global defense partnerships. This move aligns with Ondas’ strategic roadmap to expand its leadership in autonomous drone and AI-powered ISR platforms, aiming to enhance its global competitive position and create value for shareholders.
As of July 18, 2025, Ondas Holdings Inc. announced the full retirement of its outstanding convertible notes, including those issued in 2023 and 2024, thereby simplifying its balance sheet and enhancing its financial position. This move reflects Ondas’ strong financial health and confidence in its long-term growth, supported by over $67 million in cash and cash equivalents, positioning the company to pursue its strategic growth plans.
On July 9, 2025, Ondas Holdings Inc. released a slide presentation for its Investor Day, highlighting significant growth and financial improvements. The company expects a six-fold increase in Q2 2025 revenue compared to the previous year and projects $25 million in total revenue for 2025. With a fortified capital position and strategic M&A initiatives, Ondas is poised for expansion in defense and security markets, leveraging its autonomous drone platforms to meet growing global demand.
Ondas Holdings Inc. announced its strategic focus on transitioning from technology development to service delivery at scale in the defense and security industry. The company aims to leverage its advanced platforms, such as the Optimus System and Iron Drone Raider, to meet the demands of national security customers by building scalable operations and forming strategic partnerships. Ondas is investing in regional manufacturing and expanding its global partner network to enhance operational efficiency and support growth, positioning itself as a key player in the industry’s future consolidation and industrialization efforts.
On July 7, 2025, Ondas Holdings Inc. announced a strategic partnership with Klear, Inc., a financial technology company. This partnership aims to provide non-dilutive working capital solutions to companies within Ondas’ platform, particularly those in the defense and security sectors. The collaboration is designed to enhance financial sustainability and support Ondas’ strategic growth through acquisitions. By leveraging Klear’s financial tools, Ondas seeks to improve liquidity access for innovation-focused companies, thereby strengthening their resilience and growth potential without relying on equity issuance.
On July 3, 2025, Ondas Networks Inc. amended the maturity date of several convertible notes to December 31, 2025. These notes, purchased by Charles & Potomac Capital, LLC and a private investor group between July 2024 and January 2025, total over $7 million and are part of strategic financial arrangements impacting Ondas Networks’ operations and financial positioning.
Ondas Holdings Inc. announced that as of June 25, 2025, the 2023 Additional Notes have been settled, leaving only the December 17, 2024 Additional Notes outstanding. These remaining notes have a total outstanding principal and accrued interest of approximately $5.4 million, a fixed conversion price of $0.88, and a maturity date of December 17, 2026. The company had previously issued various Senior Convertible Notes, including the Exchange Notes and other series, which have been settled and are no longer outstanding.
Ondas Holdings Inc. announced the appointment of Neil Laird as Chief Financial Officer, Treasurer, and Secretary, effective June 22, 2025. Previously serving as interim CFO since June 21, 2024, Mr. Laird’s position was made permanent on June 20, 2025. The company also finalized an employment agreement with Mr. Laird, which includes a base salary of $300,000, a one-time bonus, and stock options. The agreement outlines compensation terms in case of termination or change in control, emphasizing the company’s commitment to retaining key leadership.
On June 25, 2025, Ondas Holdings announced that its American Robotics subsidiary entered into a strategic partnership with Detroit Manufacturing Systems to enhance U.S.-based manufacturing and supply chain operations for its autonomous drone platforms. This partnership aims to scale production capacity and deliver NDAA-compliant, Made in America drone systems to meet increasing demand in U.S. defense, homeland security, and critical infrastructure sectors, potentially accelerating delivery timelines, securing domestic supply chain resilience, and opening opportunities for significant U.S. federal contracts.
On June 24, 2025, Ondas Holdings announced a strategic partnership between its subsidiary, American Robotics, and Mistral Inc., a Maryland-based defense contracting firm. This collaboration aims to accelerate the deployment of Ondas’ autonomous drone technologies in U.S. defense and homeland security sectors. The partnership leverages Mistral’s extensive experience in federal sales and government contracting to facilitate the adoption of Ondas’ drone platforms. The strategic alliance is expected to enhance national security by providing rapid aerial security capabilities and strengthen Ondas’ market position as a leader in AI-based airspace security.
On June 20, 2025, Ondas Holdings announced it will host a virtual Investor Day on July 9, 2025, focusing on its Ondas Autonomous Systems (OAS) business unit. The event will feature presentations from senior leadership on OAS’s market opportunities, strategic priorities, and product roadmap, including the Optimus System and Iron Drone Raider. With an order backlog of $28.7 million, OAS is positioned for at least $20 million in expected 2025 revenues. The session will also provide insights into Ondas’ strategic growth roadmap, resource allocation, and team alignment for long-term expansion.
On June 11, 2025, Ondas Holdings Inc. announced it had regained compliance with Nasdaq’s minimum bid price requirement, following a previous notification on May 16, 2025, about non-compliance. The company’s stock maintained a minimum closing bid price of $1.00 or more for 10 consecutive business days, resolving the issue and ensuring continued listing on the Nasdaq Capital Market.
On June 9, 2025, Ondas Holdings Inc. entered into an underwriting agreement with Oppenheimer & Co. Inc. for a public offering of 22,400,000 shares of common stock and pre-funded warrants to purchase up to 9,600,000 shares. The offering closed on June 11, 2025, with net proceeds of approximately $42.8 million intended for general corporate purposes, including capital expenditures and working capital.
Ondas Holdings Inc. announced strategic advancements in its operations as of June 2025, including new military contracts and leadership appointments. The company is enhancing its market position through acquisitions and partnerships, such as with Palantir, and is poised to benefit from policy changes favoring the U.S. drone industry. The announcement highlights Ondas’ growing demand and operational capabilities, with significant military orders and a robust pipeline indicating strong future growth potential.
On June 9, 2025, Ondas Holdings Inc. announced that its subsidiary, Airobotics Ltd., received a $14.3 million purchase order from a major defense customer for its Optimus System, an advanced autonomous drone platform. This order, the largest to date for the Optimus System, significantly increases Ondas’ backlog to $28.7 million and marks a strategic milestone in expanding its presence in global defense and security markets. The deal underscores the Optimus System’s competitive strengths and operational maturity, reinforcing Ondas’ position as a trusted provider of sophisticated autonomous platforms for military applications.