ONDS · Ondas Holdings Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $50.12M | - | $10.10M | $6.27M | $4.25M | - | $1.48M | $957.9K | $625.0K | - |
| Cost of Revenue | $25.46M | - | $7.49M | $2.94M | $1.02M | - | $1.43M | $2.40M | $1.02M | - |
| Gross Profit | $24.66M | - | $2.60M | $3.33M | $1.49M | - | $47.6K | ($190.9K) | ($395.0K) | - |
| R&D | $13.52M | - | $4.51M | $4.24M | $3.46M | - | $3.18M | $2.64M | $3.51M | - |
| SG&A | $43.32M | - | $10.60M | $6.08M | $5.91M | - | $4.11M | $4.16M | $3.90M | - |
| Total Operating Expenses | $67.33M | - | $18.11M | $12.58M | $11.80M | - | $8.71M | $8.11M | $8.73M | - |
| D&A | $669.0K | - | $196.0K | $189.0K | $180.7K | - | $1.25M | $1.16M | $1.18M | - |
| Operating Income | ($42.67M) | - | ($15.50M) | ($9.25M) | ($10.31M) | - | ($8.66M) | ($8.30M) | ($9.13M) | - |
| Interest Expense | $338.0K | - | $871.3K | $703.6K | $782.6K | - | $871.3K | $703.6K | $782.6K | - |
| Income Tax | $245.0K | - | $307.5K | - | - | - | - | - | - | - |
| Net Income | $362.80M | - | ($7.48M) | ($10.75M) | ($14.14M) | - | ($9.53M) | ($8.27M) | ($9.88M) | - |
| EPS - Basic | $0.58 | - | ($0.03) | ($0.08) | ($0.15) | - | ($0.15) | ($0.14) | ($0.17) | - |
| EPS - Diluted | $0.56 | - | ($0.03) | ($0.08) | ($0.15) | - | ($0.15) | ($0.14) | ($0.17) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.03B | $550.74M | $432.82M | $67.57M | $25.41M | $30.00M | $2.87M | $4.98M | $14.59M | $15.02M |
| Accounts Receivable | $22.36M | $22.36M | $5.22M | $5.38M | $1.91M | $5.22M | $2.88M | $2.29M | $2.13M | $3.43M |
| Inventory | $34.29M | $21.96M | $12.52M | $11.19M | $10.55M | $9.82M | $8.88M | $4.96M | $3.76M | $2.19M |
| Accounts Payable | $16.70M | $13.87M | $8.38M | $4.77M | $4.50M | $5.66M | $4.02M | $4.27M | $5.57M | $5.18M |
| Current Assets | $1.63B | $685.90M | $478.88M | $91.21M | $43.40M | $47.52M | $17.17M | $15.07M | $23.51M | $23.61M |
| Total Assets | $2.44B | $1.13B | $550.15M | $151.95M | $104.60M | $109.62M | $80.16M | $82.52M | $91.62M | $92.16M |
| Current Liabilities | $149.32M | $141.82M | $31.31M | $31.49M | $50.42M | $50.58M | $39.51M | $37.88M | $37.94M | $35.94M |
| Long-term Debt | - | - | - | - | - | $300.0K | - | - | - | - |
| Total Liabilities | $1.36B | $661.23M | $39.78M | $39.29M | $57.95M | $73.68M | $47.06M | $46.10M | $47.93M | $47.11M |
| Stockholders' Equity | $1.07B | $437.81M | $486.08M | $90.82M | $26.08M | $16.58M | $14.92M | $19.39M | $27.76M | $33.14M |
| Retained Earnings | ($5.44M) | ($368.39M) | ($268.72M) | ($261.25M) | ($250.50M) | ($236.37M) | ($226.03M) | ($216.51M) | ($208.24M) | ($198.36M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($51.30M) | - | - | - | ($6.66M) | - | - | - | ($7.46M) | - |
| Investing Cash Flow | ($474.17M) | - | - | - | ($195.0K) | - | - | - | ($1.21M) | - |
| Financing Cash Flow | $968.47M | - | - | - | $2.26M | - | - | - | $8.24M | - |
| CapEx | $1.33M | - | - | - | $170.9K | - | - | - | $1.19M | - |
| Free Cash Flow | ($52.63M) | - | - | - | ($6.83M) | - | - | - | ($8.64M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 49.2% | - | 25.8% | 53.1% | 35.0% | - | 3.2% | -19.9% | -63.2% | - |
| Operating margin | -85.1% | - | -153.5% | -147.4% | -242.7% | - | -584.9% | -866.9% | -1460.3% | - |
| EBITDA margin | -83.8% | - | -151.6% | -144.4% | -238.4% | - | -500.7% | -745.3% | -1272.3% | - |
| Net margin | 723.8% | - | -74.1% | -171.4% | -332.8% | - | -643.3% | -863.4% | -1580.2% | - |
| Free cash flow margin | -105.0% | - | - | - | -160.8% | - | - | - | -1383.0% | - |
| FCF / Net income | -0.15 | - | - | - | 0.48 | - | - | - | 0.88 | - |
| R&D / Revenue | 27.0% | - | 44.7% | 67.5% | 81.4% | - | 214.9% | 275.6% | 562.1% | - |
| SG&A / Revenue | 86.4% | - | 104.9% | 96.9% | 139.1% | - | 277.9% | 434.7% | 623.7% | - |
| Effective tax rate | 0.1% | - | - | - | - | - | - | - | - | - |
| Return on assets | 14.9% | - | -1.4% | -7.1% | -13.5% | - | -11.9% | -10.0% | -10.8% | - |
| Return on equity | 33.8% | - | -1.5% | -11.8% | -54.2% | - | -63.9% | -42.6% | -35.6% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 10.91 | 4.84 | 15.30 | 2.90 | 0.86 | 0.94 | 0.43 | 0.40 | 0.62 | 0.66 |
| Quick ratio | 10.68 | 4.68 | 14.90 | 2.54 | 0.65 | 0.75 | 0.21 | 0.27 | 0.52 | 0.60 |
| Cash ratio | 6.87 | 3.88 | 13.82 | 2.15 | 0.50 | 0.59 | 0.07 | 0.13 | 0.38 | 0.42 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | 0.02 | - | - | - | - |
| Debt / Assets | - | - | - | - | - | 0.00 | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -126.2x | - | -17.8x | -13.1x | -13.2x | - | -9.9x | -11.8x | -11.7x | - |
| Equity multiplier | 2.27 | 2.59 | 1.13 | 1.67 | 4.01 | 6.61 | 5.37 | 4.26 | 3.30 | 2.78 |
| Liabilities / Assets | 0.56 | 0.58 | 0.07 | 0.26 | 0.55 | 0.67 | 0.59 | 0.56 | 0.52 | 0.51 |
| Efficiency | ||||||||||
| Asset turnover | 0.02 | - | 0.02 | 0.04 | 0.04 | - | 0.02 | 0.01 | 0.01 | - |
| Inventory turnover | 0.74 | - | 0.60 | 0.26 | 0.10 | - | 0.16 | 0.48 | 0.27 | - |
| Days sales outstanding | 163d | - | 189d | 313d | 164d | - | 709d | 873d | 1241d | - |
| Days inventory outstanding | 491d | - | 610d | 1389d | 3775d | - | 2261d | 755d | 1345d | - |
| Days payable outstanding | 239d | - | 408d | 591d | 1610d | - | 1024d | 650d | 1994d | - |
| Cash conversion cycle | 415d | - | 391d | 1110d | 2329d | - | 1946d | 977d | 592d | - |
| Valuation | ||||||||||
| P / E | 16.1x | - | - | - | - | - | - | - | - | - |
| P / B | 0.0x | - | 4.1x | 3.2x | 4.3x | - | 3.7x | 2.0x | 2.2x | - |
| P / S | 0.1x | - | 198.7x | 46.1x | 26.4x | - | 36.8x | 40.2x | 97.8x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 1079.8% | - | 582.0% | 554.9% | 579.7% | - | -44.4% | -82.5% | -75.9% | - |
| Revenue CAGR (3y) | 168.3% | - | 151.8% | 118.2% | 118.0% | - | 73.5% | 2.6% | -18.7% | - |
| Revenue CAGR (5y) | 112.2% | - | 75.1% | 40.3% | 84.2% | - | 75.8% | 37.7% | 80.9% | - |
| Gross profit growth (YoY) | 1556.5% | - | 5376.0% | - | - | - | -91.4% | - | - | - |
| Operating income growth (YoY) | -313.9% | - | -79.0% | -11.4% | -13.0% | - | -46.0% | 2.3% | 27.9% | - |
| Net income growth (YoY) | - | - | 21.5% | -30.0% | -43.1% | - | -30.6% | 7.7% | 31.7% | - |
| EPS growth (YoY) | - | - | 80.0% | 42.9% | 11.8% | - | -7.1% | 22.2% | 29.2% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | -670.6% | - | - | - | 21.0% | - | - | - | 39.5% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 4017.9% | 2540.1% | 3158.2% | 368.3% | -6.1% | -50.0% | -67.0% | -60.8% | -48.7% | -43.1% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$50.73M totalProduct Revenue$34.58M · 68.2%
Service Revenue$10.24M · 20.2%
Development Revenue$5.91M · 11.6%
Geographic
$50.73M totalIL$30.84M · 60.8%
Other Countries$7.84M · 15.5%
DE$6.58M · 13.0%
AE$3.89M · 7.7%
US$1.57M · 3.1%
Peer comparison
Same SIC group: Radio & Tv Broadcasting & Communications Equipment
Comparing Ondas Holdings Inc. against the 5 most active filers in the same SIC group.