Ondas Inc. (ONDS) Stock Price & Analysis
Ondas Inc. (ONDS) closed at USD 6.02 on Thursday, October 22, 2026, down 3.99% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 6.27; the Oct 22, 2026 session ranged USD 5.89–6.34 on volume of 36,983,865 shares. Market capitalization is $3.51B, with a 52-week range of USD 4.95–15.28 (NCM). Source: Nexqual, retrieved October 23, 2026 at 10:07 UTC.
Also available as compact Markdown for AI agents: nexqual.com/ONDS.md
Key facts (ONDS)
- Last four reported quarters (through Jun 30, 2026): revenue $174M, net income $167M (96.0% margin), free cash flow -$172M (SEC filings).
- Valuation: P/E 21.0x, net cash $1.38B.
- Insider open-market sales, last ~7 months: 5 Form 4 filings, $32.2M; 4 not under a Rule 10b5-1 plan ($32.1M); 3 by opportunistic insiders (2 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.70 on a 1–5 scale) (10 analysts), mean target USD 18.88 (range 13–25).
- Total return with dividends: 1Y -14.7% vs S&P 500 +14.9%; 5Y -29.7% vs S&P 500 +80.3%.
- Next earnings: 2026-11-12, EPS estimate USD -0.09, revenue estimate $148M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (ONDS)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $2.9M | $2.1M | $15.7M | $7.2M | $50.7M | $174M |
| Gross profit | $1.1M | $1.1M | $6.4M | $345K | $20.2M | — |
| Operating income | -$18.0M | -$69.4M | -$39.7M | -$34.6M | -$58.4M | -$244M |
| Net income | -$15.0M | -$73.2M | -$44.8M | -$38.0M | -$132M | $167M |
| EPS (diluted) | -$0.44 | -$1.73 | -$0.88 | -$0.61 | -$0.62 | — |
| Free cash flow | -$17.8M | -$40.8M | -$34.2M | -$35.1M | -$40.8M | -$172M |
| Gross margin | 37.7% | 52.2% | 40.7% | 4.8% | 39.7% | — |
| Operating margin | -618.3% | -3266.0% | -253.2% | -481.1% | -115.1% | -140.4% |
| Net margin | -516.9% | -3445.3% | -285.8% | -528.4% | -260.7% | 96.0% |
| Revenue growth | +34.3% | -26.9% | +638.1% | -54.2% | +605.3% | — |
| Cash + short-term investments | $40.8M | $29.8M | $15.0M | $30.0M | $572M | — |
| Total debt | $300K | $14.2M | $2.8M | $300K | $3.8M | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (ONDS)
P/E 21.0x · P/S 20.1x · EV/Sales 12.2x · P/B 2.2x · FCF yield -4.90% · Earnings yield 4.77% · Net cash $1.38B · EV $2.12B
Insider sales (SEC Form 4, open-market, last ~7 months) (ONDS)
1 of 5 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-24 | Laird Neil J | CFO and Treasurer | 4,952 | $38K | 9.5% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-18 | Cohen Richard M | Director | 7,500 | $67K | 2.8% | Yes (adopted May 19, 2026) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-06-02 | Brock Eric A | Chairman, CEO and President | 2,378,245 | $31.9M | 33.4% | No | Too little history (no open-market trades in 2023) |
| 2026-05-20 | Cohen Richard M | Director | 7,500 | $71K | 2.8% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-19 | Seidl Randy | Director | 10,000 | $98K | 3.3% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (ONDS)
Consensus Buy (mean 1.70 on a 1–5 scale), 10 analysts; mean target USD 18.88 (low 13, high 25).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-05 | Citizens | Initiated | Market Outperform | $14 |
| 2026-09-14 | Needham | Reiterated | Buy | $19 |
| 2026-08-17 | Ladenburg Thalmann | Target raised | Buy | $21.5 → $22.75 |
| 2026-08-14 | Oppenheimer | Target raised | Outperform | $16 → $18 |
| 2026-08-14 | Needham | Reiterated | Buy | $19 |
| 2026-08-11 | Roth Capital | Initiated | Buy | $13 |
| 2026-07-07 | Needham | Target lowered | Buy | $23 → $19 |
Total return (dividends reinvested) (ONDS)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | -14.7% | -29.7% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -14.8% | -6.8% |
| Volatility (annualized) | 105.4% | 111.2% |
| Max drawdown | -57.0% (Jan 2026→Oct 2026) | -96.4% (Nov 2021→Oct 2023) |
ONDS revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Product Revenue | $43.4M | 51.9% | +1105.2% |
| Service Revenue | $23.6M | 28.2% | +845.6% |
| Development Revenue | $16.7M | 20.0% | +9622.7% |
| Total revenue | $83.8M | 100% | — |
ONDS revenue by region (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Israel | $37.5M | 44.7% | +2875.4% |
| Europe | $19.4M | 23.1% | +523.1% |
| North America | $17.3M | 20.6% | +12330.2% |
| Africa | $4.3M | 5.1% | — |
| Asia | $2.6M | 3.1% | +6367.5% |
| United Arab Emirates | $1.5M | 1.8% | -10.6% |
| Other Countries | $1.3M | 1.5% | — |
| Total revenue | $83.8M | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
ONDS suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Ondas Autonomous Systems | “of our business, particularly through our OAS segment, involves sales to government customers, including defense, homeland security, and” |
| Partner | Palantir (PLTR) | “entered a strategic partnership between Palantir, the Company and World View.” |
Quoted from the company's 10-K filed Mar 30, 2026.
ONDS customer concentration
In the period ended Jun 30, 2026, a single direct customer accounted for 40% of revenue, per the company's 10-Q filed Aug 13, 2026. The company does not name it.
ONDS analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $-0.09 | $-0.05 | +80.0% | $148.0M | 1 |
| Next quarter (ends Dec 2026) | $-0.07 | $-0.02 | +250.0% | $254.8M | 1 |
| Current fiscal year (ends Dec 2026) | $-0.21 | $-0.14 | +50.0% | $536.7M | 1 |
| Next fiscal year (ends Dec 2027) | $-0.02 | $-0.05 | -60.0% | $1.01B | 1 |
Key Statistics (as of October 23, 2026 at 10:07 UTC)
| Price | USD 6.02 |
|---|---|
| Change | ▼ 3.99% (down) |
| Previous Close | USD 6.27 |
| Open | USD 6.11 |
| Day Range | USD 5.89 – 6.34 |
| 52-Week Range | USD 4.95 – 15.28 |
| Volume | 36,983,865 shares |
| Market Cap | $3.51B |
| Exchange | NCM |
Technical Analysis (ONDS)
Nexqual's technical model rates ONDS "SELL" based on 1 bullish and 5 bearish signals across 127 daily candles, as of October 23, 2026 at 10:07 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 30.63 (neutral) |
| vs SMA50 | Below (USD 7.47) |
| MACD | -0.41 (negative) |
Analyst Ratings (ONDS)
Wall Street analysts rate ONDS "Buy" based on 10 analysts, with a mean price target of USD 18.88 (range USD 13–25), per Nexqual as of October 23, 2026 at 10:07 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 10 |
| Mean Target | USD 18.88 |
| High Target | USD 25 |
| Low Target | USD 13 |
| Buy / Hold / Sell | 10 / 0 / 0 |
Earnings (ONDS)
| Next Earnings Date | 2026-11-12 |
|---|---|
| EPS Estimate | USD -0.09 |
| Revenue Estimate | $148.04M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD -0.1 vs est -0.07 ▼ miss |
| 2026-03-31 | USD -0.07 vs est -0.03 ▼ miss |
| 2025-12-31 | USD -0.03 vs est -0.04 ▲ beat |
| 2025-09-30 | USD -0.01 vs est -0.03 ▲ beat |
Source: Nexqual, October 23, 2026 at 10:07 UTC.
Financials & Fundamentals (ONDS)
| Total Revenue | $174.10M |
|---|---|
| Revenue Growth (latest quarter, YoY) | +1235.40% |
| Gross Margin | +43.72% |
| Operating Margin | -166.30% |
| Profit Margin | +96.25% |
| ROE | +19.32% |
| Debt / Equity | 0.03 |
| Current Ratio | 9.85 |
| Total Cash | $1.38B |
| Total Debt | $41.10M |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | -$171.92M (-98.7% of revenue) |
Source: Nexqual, October 23, 2026 at 10:07 UTC.
Financial Health Score (ONDS)
Nexqual rates Ondas Inc.'s overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 10:07 UTC.
| Growth | Strong — Revenue +605% YoY (annual) |
|---|---|
| Profitability | Critical — Heavily loss-making — early-stage company |
| Balance Sheet | Strong — $1.38B cash and investments vs $4M debt (Jun 2026, SEC), net cash |
| Cash Flow | Weak — FCF negative: -$172M (last 4 quarters to Jun 2026, SEC), burning cash |
| Efficiency | Solid — ROE 19%, ROA -8.4% |
Ownership (ONDS)
| Insider Ownership | +1.77% |
|---|---|
| Institutional Ownership | +57.31% |
| Shares Outstanding | 582.30M |
| Float | 533.41M |
| Short % of Float | +39.48% |
Source: Nexqual, October 23, 2026 at 10:07 UTC.
Leadership (ONDS)
Ondas Inc. is led by Eric Ashley Brock, Chairman, CEO & President, per Nexqual as of October 23, 2026 at 10:07 UTC.
| Chairman, CEO & President | Eric Ashley Brock |
|---|---|
| CFO & Treasurer | Neil J. Laird |
| COO, General Counsel, Member of the OAS Advisory Board & Secretary | Brig.Gen. Patrick Huston |
| President of Transportation Business Unit | Jim Taylor |
| Senior Vice President of Product & Marketing | Eitan Rotberg |
Major Backers & Investors (ONDS)
Notable institutional backers of Ondas Inc. include UBS Group AG, Marex Group Ltd., Fidelity, according to Nexqual as of October 23, 2026 at 10:07 UTC.
Active Investors
| Investor | Stake |
|---|---|
| UBS Group AG | 34.71% |
| Marex Group Ltd. | 34.39% |
| Fidelity | 26.96% |
| Exch TRADED CONCEPTS TRT-ROBO Global Robotics and Automation Index ETF | 20.05% |
| Manager Directed Portfolios-Hood River Small-Cap Growth Fund | 16.58% |
Source: Nexqual, October 23, 2026 at 10:07 UTC.
From Ondas Inc.'s Latest SEC 10-K Filing (filed 2026-03-30)
Key Strengths & Strategy (as disclosed to the SEC)
- The Fog-computing capability integrated in our end-to-end FullMAX SDR platform, primarily through docker container technology, is valued by our customers and ecosystem partners as they seek to leverage the value of MC-IoT applications for improved safety, efficiency, and profitability.
- To maximize this opportunity, our geographic focus is decisively anchored in Tier 1 countries—specifically North America, the UK, Germany, Poland, India, Japan, the UAE, and Singapore—whose respective regions aggregate to over $5.5 billion in combined C-UAS and UGV spending for 2025 alone. and well-funded domains, such as military base protection, mobile air defense, disaster recovery, regional patrolling, and the safeguarding of civilian critical national infrastructure.
- Our channel aggregation algorithms include the ability to aggregate hard to utilize, non-contiguous narrowband channels and are a hallmark feature of a FullMAX broadband system. of OAS is measured at over $100 billion in size according to management estimates and independent third-party research.
- Based upon management estimates, we believe the addressable market for the four private North American Railroad networks is approximately $1.3 billion. manufacturing partners in the building of product to fulfill customer orders.
Partnerships
- Through these business units, we develop and commercialize autonomous systems, private wireless networking technologies, and strategic investment and partnership initiatives that support the scaling and adoption of mission-critical solutions for governments and industrial customers. aligned to complementary end markets and customer requirements.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
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| DGII | Digi International Inc. | USD 72.8 | ▼ 3.32% |
| AAOI | Applied Optoelectronics, Inc. | USD 68.07 | ▼ 11.96% |
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Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 10:07 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt