Overview
- Ondas reported third-quarter revenue of $10.1 million, up 582% year over year and above the $7.039 million consensus estimate.
- Management raised 2025 revenue guidance to at least $36 million and issued a preliminary 2026 target of at least $110 million, citing a larger year-end backlog.
- The OAS unit generated about $10.0 million in revenue with a $22.2 million backlog that includes a $2.7 million Iron Drone Raider order and a $3.5 million Apeiro UGV order.
- The company ended Q3 with $433.4 million in cash and reported pro forma cash of $840.4 million after equity and warrant proceeds to support expansion and M&A.
- Shares climbed roughly 32% on Thursday and rose another 9% Friday to $7.18 after Oppenheimer upgraded the stock to Outperform with a $12 price target.