WEST PALM BEACH, Florida, August 13, 2026, 07:44 EDT — Premarket trading is underway in the United States, with the main session scheduled to start at 09:30 EDT.
- Ondas stock gained 5.6% prior to the release of results scheduled before the market opened.
- A released second-quarter estimate indicates roughly 78% of yearly revenue is expected in the latter half.
- The company earlier indicated that adjusted EBITDA losses in Q2 may represent the highest point.
Ondas Inc. NASDAQ:ONDS shares climbed 5.6% to $10.32 ahead of Thursday’s results, lifting its estimated market capitalization by about $315 million.
The surge heightens execution demands. An estimated $65.8 million in second-quarter revenue would bring first-half sales to about $115.9 million, accounting for just 22% of Ondas’s $525 million yearly goal.
| Premarket snapshot | Value | Investor read-through |
|---|---|---|
| Premarket price | $10.32 | Gains 5.63% |
| Previous close | $9.77 | Rose 0.31% on Wednesday |
| Preliminary market cap | $5.90 billion | Roughly 11.2x projected revenue |
| 52-week range | $3.20–$15.28 | Premarket trades 32.5% under 52-week high |
| One-year Nasdaq target | $18.50 | Target is 79.3% over premarket price |
Second-quarter earnings will be released before markets open. Management’s conference call is set for 08:30 EDT. The results reflect the quarter ended June 30.
Benzinga forecasts project a per-share loss of $0.06 and revenue of $65.8 million. The revenue projection suggests a sequential rise of 31% and a year-on-year increase of nearly tenfold. These numbers are still projections.
| Earnings hurdle | Q2 2025 | Q1 2026 | Q2 2026 estimate |
|---|---|---|---|
| Revenue | $6.3 million | $50.1 million | $65.8 million |
| Sequential growth | 48% | 66% | 31% implied |
| Adjusted EBITDA | $(5.8) million | $(10.9) million | Not published |
| EPS estimate | Not comparable | Not used | $(0.06) |
Revenue for the first quarter totaled $50.1 million, with a gross margin of 49%. Operating expenses increased to $67.3 million, resulting in an operating loss of $42.7 million.
Management indicated that adjusted EBITDA losses in Q2 may mark the high point, forecasting better results as revenue and gross profit rise. The figures set for release on Thursday will challenge this assertion.
The challenge for the second half is substantial. Based on the Q2 projection, Ondas faces a requirement of approximately $409.1 million in the last two quarters, representing 77.9% of its annual goal.
| 2026 revenue bridge | Amount | Share of $525 million target |
|---|---|---|
| Q1 actual | $50.1 million | 9.5% |
| Q2 released forecast | $65.8 million | 12.5% |
| Projected for first six months | $115.9 million | 22.1% |
| Needed in second half | $409.1 million | 77.9% |
| Quarterly average to achieve goal | $204.6 million | 39.0% |
Acquisitions account for much of the increase. Ondas lifted its outlook from at least $390 million following the acquisition of DZYNE Technologies. DZYNE is projected to add $191 million in 2026.
The deal, worth $875.8 million, comprised $200 million in cash and around 85 million shares. DZYNE’s owners ended up with approximately 13.8% of the enlarged equity base. Over half of their shares are subject to a six-month lock-up.
| Guidance and acquisition math | Value | Why it matters |
|---|---|---|
| Previous 2026 revenue goal | At least $390 million | Set following Q1 |
| Updated 2026 revenue goal | At least $525 million | Raised by 34.6% |
| DZYNE estimated 2026 revenue | $191 million | Accounts for 36.4% of new goal |
| Cost to acquire DZYNE | $875.8 million | Equals 4.6x DZYNE’s 2026 estimate |
| Cash as of March 31 | $1.48 billion | Prior to subsequent deals |
The backlog offers assistance, though not assurance. Pro forma backlog stood at $457 million following previous agreements. Chief Executive Eric Brock stated that this offered the company “strong visibility into our 2026 targets.” The schedule for revenue remains tied to deliveries and customer acceptance. Ondas Q1 results
| Analyst recommendations | Rating | Price target | Latest action |
|---|---|---|---|
| Stifel | Buy | $18 | Reiterated July 8 |
| Needham | Buy | $19 | Price target lowered from $23 on July 7 |
| Lake Street | Buy | $19 | Reaffirmed July 6 |
| S&P Global poll, eight analysts | Strong Buy | $19.81 average | Range: $16 to $25 |
The average forecast from analysts is nearly 92% higher than the premarket price. The gap indicates expectations for growth and highlights a notably high level of forecast risk.
Risks: Ondas faces irregular defense contract timing alongside swift acquisition activity. Integration expenses, shipment postponements, and heavy reliance on a small group of clients may cause revenue to vary from quarter to quarter. Issuing new shares further dilutes the positions of current shareholders.
The main figure is not just Q2 revenue. Investors require proof that the $409 million needed for the second half can be achieved. They also expect losses to reach their highest point as previously stated.
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