10-Q · May 15, 2026
Ondas Inc. reported a remarkable turnaround in Q1 2026 with revenue soaring to $50.1 million, a 1,080% increase compared to $4.2 million in the same period last year. Net income jumped to $361.3 million from a loss of…
Earnings analysis · 10-Q
ONDS earnings analysis
Filed August 13, 2026 · Our reading of the company's report
The latest report
Ondas delivered strong top-line momentum, with Q2 revenue of $83.772 million up approximately 67.5% sequentially and 1,296% year over year, while exceeding the $67.712 million consensus estimate. However, diluted EPS of…
Read full summary
Ondas delivered strong top-line momentum, with Q2 revenue of $83.772 million up approximately 67.5% sequentially and 1,296% year over year, while exceeding the $67.712 million consensus estimate. However, diluted EPS of $(0.19) missed the $(0.07) estimate and declined sharply from $0.56 in Q1 2026. The supplied 10-Q does not include segment results, margin data, free cash flow, or new numeric guidance; key filing-specific concerns are acquisition integration, substantial equity-linked awards totaling 5,300,197 shares, and continued earnings losses.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.19
What stood out
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Revenue growth accelerated sharply
Q2 revenue was $83.772 million, up from $50 million in Q1 2026 and $6 million in Q2 2025, representing sequential growth of approximately 67.5% and year-over-year growth of approximately 1,296%. Revenue also exceeded the $67.712 million consensus estimate.
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Disclosure controls remain effective
Management reported that disclosure controls and procedures were effective as of June 30, 2026, providing reasonable assurance over the company’s reporting processes.
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Acquisition integration expanded workforce
The company added employees through the World View and Mistral acquisitions, issuing inducement awards representing 2,309,934 and 1,245,263 RSU shares, respectively.
What to watch
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Substantial equity-linked dilution
Dilution and future compensation expense may increase following inducement awards covering 2,309,934 World View RSU shares, 1,745,000 World View option shares, and 1,245,263 Mistral RSU shares, or 5,300,197 equity-linked shares in aggregate.
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Acquisition-control integration risk
Management has not completed its internal-control assessment for certain recently acquired businesses and is using the SEC-permitted exclusion period of up to one year from acquisition, increasing execution and reporting-control risk during integration.
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Losses remain elevated
Diluted EPS of $(0.19) missed the $(0.07) consensus estimate and deteriorated from positive diluted EPS of $0.56 in Q1 2026 and $(0.08) in Q2 2025, indicating that rapid revenue growth has not yet translated into consistent earnings.
Management's outlook
The supplied 10-Q text does not provide explicit numeric revenue or EPS guidance. Prior FY2026 outlook was disclosed in the August 13, 2026 8-K rather than in the supplied 10-Q text.
Earlier filings 4
10-K · March 30, 2026
Ondas reported a Q4 revenue step-up to $30,112,000 (beating consensus by 8.08%) and expanded gross margin to 42.3%, but remains unprofitable with continued operating losses and negative cash flow. The 10-K emphasizes a…
10-Q · November 13, 2025
Ondas reported sharp revenue acceleration to $10,098,310 in Q3 2025 (from $1,480,792 in Q3 2024) and improved net loss per share to $(0.03) from $(0.15) a year ago. The quarter shows positive gross profit of $2,604,395…
10-Q · May 15, 2025
Ondas Holdings reported a significant decline in revenue for Q1 2025, totaling $4,248,182, down 31.5% from $5,000,000 in Q4 2024, and down from $625,009 in Q1 2024. The company continues to face large operating losses…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.