| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 50.12 | 1079.3% |
| Total Income | 50.12 | 1079.3% |
| Expenditure | 92.79 | 537.3% |
| PBT | 361.50 | 2656.6% |
| Net Profit | 362.80 | 2665.8% |
| OPM | -85.13% | |
| NPM | 100.00% | |
| EPS | 0.58 | 486.7% |
Ondas Reports Record Q1 2026 Revenue of $50.1M, Up 10x YoY
14 May 2026 · 14 May, 5:46 pm
Summary
Ondas Inc. reported record first quarter 2026 financial results, with revenue reaching $50.1 million, a ten-fold increase year-over-year. The company is raising its full-year 2026 revenue target to at least $390 million, driven by organic growth and strategic acquisitions. Pro forma backlog surged to $457 million. The company's product companies achieved adjusted EBITDA profitability during the quarter, six months ahead of schedule.
Key Highlights
- 1
Ondas reported a record first quarter 2026 with revenue of $50.1 million, representing a more than 10-fold increase from Q1 2025.
- 2
The company is raising its full-year 2026 revenue target to at least $390 million, representing approximately 670% year-over-year increase.
- 3
Pro forma backlog reached $457 million, compared to $68.3 million at the end of 2025.
- 4
The company ended Q1 with $1.48 billion in cash, cash equivalents, restricted cash, and short-term investments.
- 5
Product companies were adjusted EBITDA positive during the first quarter, 6 months ahead of targets.
- 6
Revenues increased 66% sequentially to $50.1 million for the three months ended March 31, 2026, compared to $30.1 million for the three months ended December 31, 2025.
Management Comments
Eric Brock
“We delivered record results in the first quarter of 2026, with revenue of $50.1 million representing a ten-fold increase year-over-year, as our Core + Strategic Growth Program continues to drive strong execution and accelerating momentum across the business. “Looking ahead, we believe Ondas is well positioned for the remainder of 2026 and beyond. Recent global developments continue to underscore the urgency driving accelerated adoption of our solutions, reinforcing our long-term thesis and validating the strategic actions we have taken to position the Company for a multi-decade growth cycle. With strong financial resources, a rapidly expanding platform, and increasing global demand, we are seeing record levels of backlog and visibility, supporting meaningful upside to our prior expectations. We remain focused on executing our strategy to drive sustained growth, operating leverage, and long-term value creation for our shareholders.”
Oshri Lugassy
“In the first quarter, we advanced our integrated defense and security capabilities, delivering a unified systems-of-systems platform across ISR, detection, and autonomous engagement. We expanded our coverage into higher aerial layers and strengthened our position as a prime contractor across the Middle East, Europe, and the United States. By integrating advanced, field-proven technologies, we are delivering combat-proven, multi-layered solutions with real operational impact. We are already seeing strong synergies across our platform, accelerating growth and expanding the distribution of Ondas systems across critical markets with multi-billion-dollar potential.”
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