Ondas Holdings Inc. (ONDS) Financial Statements
Industry: Radio & Tv Broadcasting & Communications Equipment
In fiscal 2025, Ondas reported revenue of $50.7M, up 605.3% from $7.2M the year before. Net income was -$132.2M (a -260.7% net margin), or -$0.62 per diluted share. Gross margin was 39.7% and operating margin was -115.1%. Operating activities generated -$38.7M of cash, leaving -$40.8M of free cash flow. At fiscal year end, Ondas held $1.13B in total assets against $661.2M in total liabilities, including $550.7M of cash and equivalents.
Open the full interactive Ondas financials → Quarterly statements, key ratios, valuation history and price charts.
Ondas Key Stats
| Share Price | $6.71 |
|---|---|
| Market Cap | $3.38B |
| Revenue YoY Growth | +605.3% |
| 52-Week Range | $5.25 – $14.01 |
| Shares Outstanding | 500.7 million (basic, 2026 Q2) |
Ondas Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $2.2M | $2.9M | $2.1M | $15.7M | $7.2M | $50.7M |
| Cost of Goods Sold | $1.2M | $1.8M | $1.0M | $9.3M | $6.8M | — |
| Gross Profit | $927,668 | $1.1M | $1.1M | $6.4M | $345,183 | $20.2M |
| Operating Income | -$11.5M | -$18.0M | -$69.4M | -$39.7M | -$34.6M | -$58.4M |
| Pre-Tax Income | -$13.5M | -$17.9M | -$73.2M | -$44.8M | -$38.0M | -$132.9M |
| Income Tax | — | -$2.9M | — | — | — | $488,000 |
| Net Income | -$13.5M | -$15.0M | -$73.2M | -$44.8M | -$38.0M | -$132.2M |
| Diluted EPS | -$0.66 | -$0.44 | -$1.73 | -$0.88 | -$0.61 | -$0.62 |
Ondas Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $10.1M | $30.1M | $50.1M | $83.8M |
| Net Income | -$7.5M | -$99.9M | $362.8M | -$88.4M |
| Diluted EPS | -$0.03 | -$0.45 | $0.56 | -$0.19 |
Ondas Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $26.1M | $40.8M | $29.8M | — | — | $550.7M |
| Current Assets | $27.9M | $44.7M | $35.8M | $23.6M | $47.5M | $685.9M |
| Total Assets | $28.5M | $117.4M | $97.9M | $92.2M | $109.6M | $1.13B |
| Current Liabilities | $12.5M | $4.6M | $21.6M | $35.9M | $50.6M | $141.8M |
| Total Long-Term Debt | $907,000 | $300,000 | $15.1M | $33.9M | $300,000 | $9.3M |
| Total Liabilities | $13.4M | $5.2M | $39.7M | $47.1M | $73.7M | $661.2M |
| Shareholders' Equity | $15.1M | $112.2M | $58.2M | $33.1M | $16.6M | $437.8M |
Ondas Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$7.5M | -$16.9M | -$38.0M | -$34.0M | -$33.5M | -$38.7M |
| Cash From Investing | -$16,140 | -$10.2M | -$6.9M | $536,273 | -$1.7M | -$260.1M |
| Cash From Financing | $31.5M | $41.9M | $33.9M | $18.7M | $50.2M | $862.7M |
| Free Cash Flow | -$7.5M | -$17.8M | -$40.8M | -$34.2M | -$35.1M | -$40.8M |
Figures from Ondas' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Ondas financials page for every line item.
Ondas Company Profile
| Ticker | ONDS |
|---|---|
| Exchange | Nasdaq |
| Industry | Radio & Tv Broadcasting & Communications Equipment |
| Headquarters | West Palm Beach, Florida |
| Incorporated in | Nevada |
| Fiscal Year End | December 31 |
| SEC Filer Category | Non-accelerated filer, smaller reporting company |
| SEC CIK | 0001646188 |
Frequently Asked Questions
What was Ondas' revenue in fiscal 2025?
Ondas (ONDS) reported revenue of $50.7M for fiscal 2025.
What is Ondas' annual revenue history?
Ondas' annual revenue by fiscal year: 2020: $2.2M; 2021: $2.9M; 2022: $2.1M; 2023: $15.7M; 2024: $7.2M; 2025: $50.7M.
What was Ondas' net income in fiscal 2025?
Ondas reported net income of -$132.2M for fiscal 2025.
What was Ondas' earnings per share (EPS) in fiscal 2025?
Ondas' diluted EPS was -$0.62 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Ondas generate in fiscal 2025?
Ondas generated -$40.8M of free cash flow in fiscal 2025.
What was Ondas' revenue last quarter?
In its most recent reported quarter (2026 Q2), Ondas reported revenue of $83.8M.
How much debt does Ondas have?
Ondas reported $9.3M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Ondas are outstanding?
Ondas reported a weighted average of 500.7 million basic shares outstanding in 2026 Q2.
What is Ondas' market cap?
Based on its latest closing price, Ondas (ONDS) has a market capitalization of about $3.38B.
When does Ondas' fiscal year end?
Ondas' fiscal year end, as registered with the SEC, is December 31.
Where is Ondas headquartered?
Ondas lists its business address in West Palm Beach, Florida in its SEC filings.