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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 | 24.75M | 7.19M | 15.69M | 2.13M | 2.91M | 2.16M |
| Gross Profit | 8.31M | 345.18K | 6.38M | 1.11M | 1.10M | 927.67K |
| EBITDA | -29.47M | -28.72M | -34.64M | -64.63M | -15.55M | -11.14M |
| Net Income | -42.69M | -38.01M | -44.84M | -73.24M | -15.02M | -13.48M |
Balance Sheet | ||||||
| Total Assets | 550.15M | 109.62M | 92.16M | 97.95M | 117.44M | 28.51M |
| Cash, Cash Equivalents and Short-Term Investments | 451.63M | 29.96M | 14.98M | 29.78M | 40.82M | 26.06M |
| Total Debt | 17.97M | 60.31M | 35.29M | 33.39M | 1.81M | 8.03M |
| Total Liabilities | 39.78M | 73.68M | 47.11M | 39.72M | 5.21M | 13.43M |
| Stockholders Equity | 486.08M | 16.58M | 33.14M | 58.22M | 112.23M | 15.08M |
Cash Flow | ||||||
| Free Cash Flow | -34.70M | -35.20M | -34.30M | -40.89M | -17.92M | -7.57M |
| Operating Cash Flow | -34.13M | -33.47M | -34.02M | -37.96M | -16.90M | -7.53M |
| Investing Cash Flow | -18.82M | -1.73M | 536.27K | -6.93M | -10.21M | -16.14K |
| Financing Cash Flow | 483.46M | 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | $1.09B | 22.94 | 11.38% | ― | 1.93% | -43.22% | |
68 Neutral | $1.62B | 39.74 | 6.71% | ― | 1.46% | 78.77% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | $2.06B | 54.35 | 4.68% | ― | -24.42% | ― | |
60 Neutral | $5.66B | -128.94 | -5.54% | ― | 15.60% | ― | |
54 Neutral | $1.96B | 218.26 | 12.43% | ― | 14.31% | ― | |
49 Neutral | $4.38B | -25.68 | -17.04% | ― | 208.40% | 44.60% |
Ondas Holdings Corporate Events
On January 30, 2026, Ondas Inc. announced it will formally launch its new Ondas Defense and Security offering at the Singapore Airshow 2026, unveiling a rebranding, a 2026 product and technology roadmap and a unified portfolio aimed at defense, homeland security and public safety markets. The initiative marks a strategic evolution of the company into a defense-tech and security-focused provider, centered on a multi-layered, autonomous command-and-control architecture that integrates aerial and ground robotics, ISR, counter-UAS and decision-support technologies into a single operational domain to protect low-altitude airspace and ground assets, with the goal of improving real-time situational awareness, response speed and mission effectiveness and reinforcing Ondas’ positioning in global defense and security markets.
The most recent analyst rating on (ONDS) stock is a Buy with a $25.00 price target. To see the full list of analyst forecasts on Ondas Holdings stock, see the ONDS Stock Forecast page.
On January 16, 2026, Ondas Networks Inc. raised $8.4 million through a Series B Preferred Stock financing, with approximately $6.0 million coming from parent company Ondas Inc. and about $2.0 million from Charles & Potomac Capital, LLC and related investors, in a transaction exempt from SEC registration. The deal included the issuance of 303,250 newly purchased preferred shares and 667,551 preferred shares issued upon exercise of warrants and conversion of prior convertible notes originally issued between July 2024 and January 2025, all carrying an 8% annual dividend and being convertible into common stock at an initial conversion price of $27.70 per share. As part of the transaction, new investors joined existing investor rights, right-of-first-refusal, and voting agreements dated January 16, 2026, and Ondas Networks also amended the maturity date of a prior $1.5 million secured note from Charles & Potomac Capital, extending it to December 31, 2027, thereby shoring up its capital structure and pushing out near-term debt obligations.
The most recent analyst rating on (ONDS) stock is a Buy with a $17.00 price target. To see the full list of analyst forecasts on Ondas Holdings stock, see the ONDS Stock Forecast page.
On January 22, 2026, Ondas Inc. filed a prospectus supplement with the U.S. Securities and Exchange Commission to cover the potential resale, from time to time, of 1,622,607 shares of its common stock by certain existing stockholders. These shares were previously issued to those stockholders as consideration for Ondas’s acquisition of all the issued and outstanding share capital of Sentry CS Ltd. of Israel, a transaction originally disclosed on November 17, 2025, and the new filing facilitates liquidity for those holders while formalizing the securities law framework around the acquired shares.
The most recent analyst rating on (ONDS) stock is a Buy with a $18.00 price target. To see the full list of analyst forecasts on Ondas Holdings stock, see the ONDS Stock Forecast page.
At its Ondas Autonomous Systems Investor Day on January 16, 2026, Ondas Inc. reported that a 2025 transformation program had turned OAS into a multi-domain autonomy platform and delivered record financial results, including preliminary full-year 2025 revenue growth of about 576% and fourth-quarter revenue growth of roughly 578% versus the prior-year periods. Management highlighted a sharp improvement in backlog to $65.3 million by the end of 2025, a pro forma cash balance exceeding $1.5 billion following a major equity raise earlier that year, and a strengthened balance sheet that it says has materially enhanced the company’s competitive position in a capital-constrained, consolidating sector. The company raised its 2026 revenue target to $170–$180 million from a prior $140 million, citing growing category leadership in CUAS, ISR and UGV markets, strong end-market adoption trends, a robust pipeline of multi-year government and strategic programs, and an active investment and acquisition agenda intended to leverage its substantial cash resources to scale operations and support high growth for both customers and investors.
The most recent analyst rating on (ONDS) stock is a Buy with a $10.00 price target. To see the full list of analyst forecasts on Ondas Holdings stock, see the ONDS Stock Forecast page.
On January 15, 2026, Ondas Holdings Inc. filed an amendment to its Articles of Incorporation in Nevada to change its corporate name to Ondas Inc., with the change becoming effective January 16, 2026. Also effective January 16, 2026, the company updated its bylaws, its 2018 Equity Incentive Plan, its amended 2021 Stock Incentive Plan, and other corporate governance documents to reflect the new name, signaling an administrative but broad corporate rebranding across its legal and governance framework.
The most recent analyst rating on (ONDS) stock is a Buy with a $10.00 price target. To see the full list of analyst forecasts on Ondas Holdings stock, see the ONDS Stock Forecast page.
On January 12, 2026, Ondas Holdings Inc. announced it had closed an approximately $1 billion registered direct offering to an institutional investor, issuing 19 million shares of common stock and pre-funded warrants for up to 41.79 million additional shares, bundled with warrants to purchase a total of 121.58 million shares. Priced at a roughly 17.5% premium to the company’s January 8, 2026 closing share price and with an exercise price of $28.00 for the common stock warrants, the deal is expected to generate about $959.2 million in net proceeds, with the potential to raise roughly $3.4 billion more if all warrants are exercised, significantly bolstering Ondas’ balance sheet and providing substantial capital for corporate development and strategic growth initiatives, including acquisitions, joint ventures and investments.
The most recent analyst rating on (ONDS) stock is a Buy with a $17.00 price target. To see the full list of analyst forecasts on Ondas Holdings stock, see the ONDS Stock Forecast page.
On January 9, 2026, Ondas Holdings Inc. entered into agreements for a registered direct offering of 19 million common shares and pre-funded warrants for up to 41.8 million shares, each sold as a “Common Stock Equivalent” bundled with common stock warrants, to an institutional investor at a combined price of $16.45 per unit, representing a 17.5% premium to its prior closing price. The deal, structured through Oppenheimer & Co. and a syndicate of co-placement agents, is expected to generate approximately $959.2 million in net proceeds (about $1 billion gross) for Ondas, with the potential for roughly $3.4 billion in additional capital if the seven-year common warrants, exercisable at $28.00 per share, are fully exercised; the funds are earmarked for corporate development and strategic growth initiatives, including acquisitions, joint ventures and investments, underscoring an aggressive expansion strategy that could materially strengthen the company’s balance sheet and competitive positioning if market conditions and closing requirements, including the absence of a material adverse change, are satisfied by the anticipated closing on or about January 12, 2026.
The most recent analyst rating on (ONDS) stock is a Buy with a $17.00 price target. To see the full list of analyst forecasts on Ondas Holdings stock, see the ONDS Stock Forecast page.
On November 17, 2025, Ondas Holdings Inc. completed its previously announced acquisition of Israel-based Sentry CS Ltd. under a share purchase agreement with Sentry’s shareholders and a Luxembourg-based representative of the indemnifying parties. The company disclosed Sentry’s preliminary, unaudited financial data showing 2024 sales of $11.3 million and a net loss of $13.5 million, and for the six months ended June 30, 2025, sales of $11.0 million and a net loss of $4.5 million, alongside a shareholders’ deficiency that narrowed sharply by mid-2025. Ondas emphasized that these figures are subject to change pending completion of Sentry’s financial closing procedures and future regulatory filings, indicating that the acquisition adds revenue scale but also loss-making operations, with the full financial impact on Ondas to be clarified once audited and pro forma results are provided.
The most recent analyst rating on (ONDS) stock is a Hold with a $11.50 price target. To see the full list of analyst forecasts on Ondas Holdings stock, see the ONDS Stock Forecast page.
On January 8, 2026, Ondas Holdings Inc. filed a prospectus supplement with the U.S. Securities and Exchange Commission to register the potential resale of 1,671,899 shares of its common stock by certain existing stockholders. These shares were originally issued to those stockholders in connection with Ondas’s previously disclosed November 17, 2025 acquisition of Sentry CS Ltd., an Israeli company, effectively enabling the sellers in that transaction to monetize their holdings over time while formalizing the legal framework for such resales.
The most recent analyst rating on (ONDS) stock is a Hold with a $11.50 price target. To see the full list of analyst forecasts on Ondas Holdings stock, see the ONDS Stock Forecast page.
On January 5, 2026, Ondas Holdings Inc. filed a prospectus supplement with the U.S. Securities and Exchange Commission to register the resale, from time to time, of shares of its common stock by certain existing stockholders. These stockholders had previously acquired the shares on December 17, 2025, in connection with an exchange of certain securities of the company’s subsidiary, Ondas Autonomous Systems Inc., for Ondas Holdings common stock, a step that clarifies and facilitates liquidity for these investors without issuing new shares, and underscores the company’s ongoing efforts to manage its capital structure and subsidiary interests.
The most recent analyst rating on (ONDS) stock is a Hold with a $11.50 price target. To see the full list of analyst forecasts on Ondas Holdings stock, see the ONDS Stock Forecast page.
On January 5, 2026, Ondas Holdings announced it will host a virtual Ondas Autonomous Systems Investor Day on January 16, 2026, where senior leadership will present an updated 2026 business plan, including the Core+ Strategic Growth Program and a financial outlook focused on anticipated revenue growth, investment priorities and improved operating leverage. The event is intended to showcase the company’s 2025 transformation into a high‑growth, integrated operating platform, detail how its technology, manufacturing and go‑to‑market capabilities support rising demand in defense, homeland security and critical infrastructure markets, and provide investors with an update on OAS’s unmanned aerial and ground systems, counter‑UAS portfolio and roadmap for scaling production and international deployments.
The most recent analyst rating on (ONDS) stock is a Hold with a $11.50 price target. To see the full list of analyst forecasts on Ondas Holdings stock, see the ONDS Stock Forecast page.
On January 2, 2026, Ondas Holdings Inc. announced plans to change its corporate name to Ondas Inc. and confirmed it had relocated its corporate headquarters to West Palm Beach, Florida, in a move designed to reflect its evolution into a fully integrated global operating platform and support its next phase of growth. Management said the headquarters move is intended to enhance access to senior talent, strategic partners, institutional capital and Florida’s expanding defense and technology ecosystem, while the company maintains a distributed global footprint across the U.S., Europe, the Middle East and Asia; the name change, expected to take effect in the first quarter of 2026, and the relocation are not anticipated to disrupt operations, customer programs or delivery timelines, signaling a strategic repositioning rather than an operational overhaul for stakeholders.
The most recent analyst rating on (ONDS) stock is a Buy with a $10.00 price target. To see the full list of analyst forecasts on Ondas Holdings stock, see the ONDS Stock Forecast page.
On December 29, 2025, Ondas Networks Inc. amended the maturity date of several previously issued convertible and secured promissory notes, collectively totaling $8 million in principal, extending their due date to January 15, 2026. These notes consist of July 2024 convertible notes sold to Charles & Potomac Capital, LLC, a $1.5 million secured note from September 2024 with the same lender, and secured convertible promissory notes sold to private investor groups in November 2024 and January 2025; the extension suggests Ondas Networks is seeking additional time to manage or restructure its short‑term financing obligations, with implications for its liquidity and ongoing capital structure management.
The most recent analyst rating on (ONDS) stock is a Hold with a $8.00 price target. To see the full list of analyst forecasts on Ondas Holdings stock, see the ONDS Stock Forecast page.
On December 16, 2025, Ondas’ board appointed Brigadier General Patrick Huston, U.S. Army (ret.), the company’s General Counsel since October 2025, to the newly created role of Chief Operating Officer, while he continues as General Counsel and Secretary. Huston, a 57-year-old former Commanding General, Army Ranger and helicopter pilot with 35 years of military and legal leadership across the Pentagon, 101st Airborne Division, Joint Special Operations Command and U.S. Central Command, joined OAS’s advisory board in September 2025 and is active on AI-focused bodies such as the FBI’s and American Bar Association’s AI task forces. His appointment, announced publicly on December 18, 2025, is intended to strengthen Ondas’ operational execution and acquisition integration across its multi-domain autonomous systems platform and growing subsidiary portfolio, while unifying legal, regulatory, compliance and governance oversight to support deeper engagement with U.S. and allied government defense and security customers. An employment agreement signed in October 2025 provides Huston with a $400,000 base salary, time-based restricted stock units and stock options vesting over three years, and standard severance, non-compete and non-solicitation terms, underscoring the company’s commitment to his long-term role as it scales operations and integrates recent strategic acquisitions in defense and security markets.
The most recent analyst rating on (ONDS) stock is a Buy with a $10.00 price target. To see the full list of analyst forecasts on Ondas Holdings stock, see the ONDS Stock Forecast page.
On December 16, 2025, Ondas Holdings completed the acquisition of Roboteam, an Israel-based manufacturer of rugged unmanned ground vehicles (UGVs) used globally for military and commercial applications. Roboteam’s platforms are employed in missions such as explosives disposal and reconnaissance and are used by key defense clients, including the U.S. Marine Corps and Israeli Ministry of Defense. This acquisition strengthens Ondas’ presence in the ground robotics domain and expands its autonomous solutions portfolio, integrating Roboteam’s proven technologies into Ondas’ multi-domain offerings to enhance defense and public safety operations worldwide.
The most recent analyst rating on (ONDS) stock is a Buy with a $10.00 price target. To see the full list of analyst forecasts on Ondas Holdings stock, see the ONDS Stock Forecast page.
On December 17, 2025, Ondas Holdings, through its subsidiary OAS, executed exchange agreements that converted convertible notes and warrants into shares of its stock. As part of the transaction, shares of ONDS common stock were issued to investors, substantially consolidating OAS ownership under Ondas Holdings (99%) with investors holding a minimal stake post-transaction. Additionally, the financial impact includes a one-time non-cash charge of $56.6 million expected for Q4 2025, reflecting the restructuring’s accounting adjustments.
The most recent analyst rating on (ONDS) stock is a Buy with a $10.00 price target. To see the full list of analyst forecasts on Ondas Holdings stock, see the ONDS Stock Forecast page.
On December 12, 2025, Ron Stern resigned from his position as a director of Ondas Holdings Inc., effective immediately. His resignation was not due to any disagreements with the company’s operations, policies, or practices. The resignation also led to the termination of the Directorship Agreement between Mr. Stern and the company, which was initially dated January 6, 2025.
The most recent analyst rating on (ONDS) stock is a Buy with a $12.00 price target. To see the full list of analyst forecasts on Ondas Holdings stock, see the ONDS Stock Forecast page.
Ondas Holdings Inc. announced that it has offered holders of convertible promissory notes and warrants the opportunity to convert their holdings into shares of Ondas Autonomous Systems Inc. (OAS) common stock and subsequently exchange them for Ondas Holdings common stock. As of December 12, 2025, ten out of eleven holders have elected to participate in the exchange, which could result in Ondas Holdings owning up to 100% of OAS. The company anticipates a one-time, non-cash charge of approximately $56.6 million to $60.5 million in its financial statements for the year ending December 31, 2025, depending on the final participation in the exchange.
The most recent analyst rating on (ONDS) stock is a Buy with a $12.00 price target. To see the full list of analyst forecasts on Ondas Holdings stock, see the ONDS Stock Forecast page.
On December 8, 2025, Ondas Holdings Inc. announced its intent to invest up to $11 million in Drone Fight Group, a Ukrainian developer of advanced unmanned aerial systems. This strategic investment, executed through Ondas Capital, aims to strengthen U.S. and allied defense modernization priorities by integrating combat-proven Ukrainian technologies. The partnership is expected to support the localization of these technologies through U.S.-based manufacturing and provide strategic support for DFG’s global expansion, enhancing the availability of agile, scalable unmanned systems for defense and homeland security missions.
The most recent analyst rating on (ONDS) stock is a Hold with a $9.50 price target. To see the full list of analyst forecasts on Ondas Holdings stock, see the ONDS Stock Forecast page.
On November 23, 2025, Ondas Holdings Inc. announced a definitive agreement to acquire Robo-Team Holdings Ltd, an Israeli company specializing in tactical unmanned ground vehicles (UGVs). The acquisition, valued at $80 million, is expected to enhance Ondas’ capabilities in providing integrated air and ground robotic solutions, thereby strengthening its position in defense and public safety markets. This strategic move aligns with defense modernization efforts globally, as it aims to meet the growing demand for unmanned systems in complex and hazardous environments.
The most recent analyst rating on (ONDS) stock is a Buy with a $9.00 price target. To see the full list of analyst forecasts on Ondas Holdings stock, see the ONDS Stock Forecast page.
At the Special Meeting of Stockholders held on November 20, 2025, Ondas Holdings Inc. received approval from its stockholders to amend its 2021 Stock Incentive Plan, increasing the authorized shares for issuance from 26 million to 61 million. Additionally, the stockholders approved an amendment to the company’s Articles of Incorporation to double the authorized common stock shares from 400 million to 800 million, reflecting a strategic move to enhance the company’s capital structure and support its growth initiatives.
The most recent analyst rating on (ONDS) stock is a Hold with a $8.00 price target. To see the full list of analyst forecasts on Ondas Holdings stock, see the ONDS Stock Forecast page.
On November 19, 2025, Ondas Holdings Inc. made a strategic investment of $35 million in Performance Drone Works (PDW), a defense-technology company specializing in advanced robotics for national security missions. This investment aims to scale PDW’s production capabilities and strengthen Ondas’ position in the defense sector. PDW, known for its combat robotics used by the U.S. military, will use the funds to expand manufacturing, increase engineering staff, and secure a domestic supply chain. This move is expected to accelerate PDW’s growth as a leader in combat robotics and enhance Ondas’ offerings in AI-enabled autonomous defense platforms.
The most recent analyst rating on (ONDS) stock is a Hold with a $8.00 price target. To see the full list of analyst forecasts on Ondas Holdings stock, see the ONDS Stock Forecast page.
Ondas Holdings Inc. has scheduled a Special Meeting of Stockholders on November 20, 2025, to discuss and vote on a charter amendment proposal and an incentive plan amendment proposal. This meeting, crucial for the company’s governance and strategic planning, will be held in Boston, and only stockholders of record as of October 8, 2025, are eligible to vote, either in person or by proxy.
The most recent analyst rating on (ONDS) stock is a Hold with a $6.50 price target. To see the full list of analyst forecasts on Ondas Holdings stock, see the ONDS Stock Forecast page.
Ondas Holdings Inc. has postponed its Special Meeting of Stockholders originally scheduled for November 18, 2025, to November 25, 2025, to gather additional votes on matters outlined in the meeting notice and proxy statement. The meeting will still take place at One Marina Park Drive, Boston, and shareholders of record as of October 8, 2025, are eligible to vote. Previously submitted proxies will remain valid unless revoked, and no further action is required from shareholders who have already voted.
The most recent analyst rating on (ONDS) stock is a Hold with a $6.50 price target. To see the full list of analyst forecasts on Ondas Holdings stock, see the ONDS Stock Forecast page.
On November 17, 2025, Ondas Holdings Inc. announced securing an $8.2 million purchase order from a major European security agency to deploy Iron Drone Raider™ counter-UAS systems at a large international airport in Europe. This order highlights the growing demand for Ondas’ autonomous defense solutions, following recent drone intrusion incidents in Europe that disrupted flights. The deployment will enhance airspace protection and reinforce infrastructure resilience, marking another milestone in a record year for Ondas with significant bookings and strategic acquisitions.
The most recent analyst rating on (ONDS) stock is a Hold with a $6.50 price target. To see the full list of analyst forecasts on Ondas Holdings stock, see the ONDS Stock Forecast page.
On November 17, 2025, Ondas Holdings Inc. completed the acquisition of Sentry CS Ltd, an Israeli company, for $225 million. This strategic acquisition, involving a combination of cash and stock, is expected to enhance Ondas’ market position by expanding its technological capabilities and market reach.
The most recent analyst rating on (ONDS) stock is a Hold with a $6.50 price target. To see the full list of analyst forecasts on Ondas Holdings stock, see the ONDS Stock Forecast page.
On November 10, 2025, Ondas Holdings Inc. announced the appointment of Maj. Gen. (Ret.) Yoav Har-Even, former President & CEO of Rafael Advanced Defense Systems Ltd., to the Advisory Board of Ondas Autonomous Systems. Har-Even’s extensive experience in defense leadership and technology integration is expected to strengthen OAS’s strategic depth and support its global defense-technology strategy. This appointment is part of OAS’s efforts to expand its advisory network and guide its next phase of growth, focusing on product integration, strategic partnerships, and international expansion. In 2025, OAS achieved record international orders for its systems and launched a strategic acquisition program to broaden its solutions portfolio.
The most recent analyst rating on (ONDS) stock is a Hold with a $5.00 price target. To see the full list of analyst forecasts on Ondas Holdings stock, see the ONDS Stock Forecast page.
On November 3, 2025, Ondas Holdings Inc. announced a definitive agreement to acquire Sentry CS Ltd., an Israeli leader in Cyber-over-RF and Protocol-Manipulation counter-UAS technology. This acquisition, expected to close in November 2025, will enhance Ondas’ capabilities in intelligent drone defense by integrating Sentry’s proprietary technology, which offers precise, regulation-compliant drone neutralization without disrupting surrounding communications. The strategic move aims to strengthen Ondas’ position in the global Counter-UAS market, projected to exceed $10.6 billion by 2030, and expand its reach to Tier-1 defense, public safety, and security agencies worldwide.
The most recent analyst rating on (ONDS) stock is a Hold with a $6.00 price target. To see the full list of analyst forecasts on Ondas Holdings stock, see the ONDS Stock Forecast page.