Ondas Inc.

ONDS · Small cap · Calculated market cap · $4.2B · as of 2026-09-30

Company Stats

Market Cap: $4.2B; as of Sep 30, 2026
Shares Outstanding: 570.6M
Free Float: 93.0%

Income Statement

Revenue: $50.7M
Operating Income: -$58.4M
Net Income: -$132.2M
EBITDA: -$57.4M
Revenue Growth, 3Y: 187.9%
FCF Margin, 3Y Avg: -262.2%
FCF Margin, Worst Year: -488.0%

Cash Flow

Free Cash Flow: -$40.8M
FCF Yield: -1.0%
Owner FCF Yield: -1.4%

Balance Sheet

Cash & Equivalents: $550.7M

Returns & Capital

SBC, 3Y Avg: $6.1M

Cash Flow by Year

Year	Revenue	FCF	Margin
FY2025	$50.7M	-$40.8M	-80.4%
FY2024	$7.2M	-$35.1M	-488.0%
FY2023	$15.7M	-$34.2M	-218.1%
FY2022	$2.1M	-$40.8M	-1921.3%
FY2021	$2.9M	-$17.8M	-613.0%

Annual filing data through FY ended December 31, 2025; shares and float as of October 13, 2026. Yields and enterprise value use the calculated market cap above, at its as-of date. Ratios are our calculations from reported figures.

Company RSS

Earnings

Nov 12, 2026Ondas Raises 2026 Floor and Sets 2027 Revenue Target

Other Coverage

September 28, 2026 QBook

Stronger demand supports expansion as pricing diverges September 25, 2026 Industry Earnings Roundup

Apple's Double-Digit Growth Anchors Hardware Demand September 24, 2026 Deals

Ondas to Buy Three Defense Firms in $56 Million Mixed Deal September 15, 2026 Deals

Ondas to Buy GATE Technologies in $205 Million Mixed Deal August 10, 2026 Deals

Ondas to Buy Cyberhawk in $125 Million Mostly Cash Deal July 4, 2026 Filings Beige Book

Companies Report Firm Demand, Relentless Cost Pressure June 25, 2026 Small-Cap Signal

Homeowners Lock In Rates and Reinvest in Houses June 18, 2026 Deals

Ondas to Buy Cyberhawk in $125 Million Mixed-Structure Deal

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