Quarterly ResultMay 14, 2026, 08:17 AM
Ondas Q1 Revenue $50.1M; Raises FY26 Forecast to $390M
AI Summary
Ondas Inc. reported record financial and operating results for the first quarter ended March 31, 2026, with revenue soaring to $50.1 million, a more than tenfold increase from the prior year. The company also raised its full-year 2026 revenue forecast to at least $390 million, driven by organic growth, strategic acquisitions, and global demand for autonomous systems. Product companies achieved adjusted EBITDA positive six months ahead of schedule, and pro forma backlog reached $457 million, providing strong visibility for future growth.
Key Highlights
- Ondas Q1 2026 revenue reached $50.1 million, a 1,065% increase year-over-year from Q1 2025.
- Full-year 2026 revenue forecast raised to at least $390 million, representing a 670% year-over-year increase.
- Pro forma backlog surged to $457 million, up from $68.3 million at the end of 2025.
- Company held $1.48 billion in cash, cash equivalents, restricted cash, and short-term investments as of March 31, 2026.
- Product companies achieved adjusted EBITDA positive in Q1 2026, six months ahead of targets.
- Gross profit for Q1 2026 was $24.7 million, with a gross profit margin of 49%.
- Net income for Q1 2026 was $361.2 million, including non-cash gains related to warrant liability and deconsolidation of Ondas Networks.
- Adjusted EBITDA loss for Q1 2026 was $10.9 million, compared to a $7.5 million loss in Q1 2025.