NEW YORK, August 5, 2026, 06:09 EDT
Ondas Inc. NASDAQ:ONDS saw its equity value rise by about $781 million across two sessions, raising expectations ahead of next week’s earnings report. The stock was quoted down 0.5%, at $8.82, in delayed premarket trading on Wednesday. U.S. markets had yet to open for regular trading.
Shares rose 18.3%, moving from $7.49 at Friday’s close to $8.86 by Tuesday’s end. Based on current outstanding shares, this jump represents 1.49 times Ondas’ stated minimum revenue goal for 2026. This represents a comparative valuation calculation and does not constitute company guidance.
Ondas is set to announce its second-quarter results on August 13, covering the period that concluded on June 30. DZYNE Technologies finalized its transaction on July 2, meaning any business activity following the closing will be excluded from the Q2 revenue figures.
| Session | Close or indication | Change | Volume |
|---|---|---|---|
| July 31 close | $7.49 | -1.19% | 59.69 million |
| August 3 close | $8.37 | +11.75% | 55.79 million |
| August 4 close | $8.86 | +5.85% | 73.36 million |
| August 5 premarket | $8.82 | -0.45% | 0.30 million |
Premarket indication, delayed, as of 5:59 a.m. EDT. Market data, both historical and current, sourced from Investing.com and MarketWatch.
Monday saw the biggest move after Ondas named ex-Mossad chief David Barnea as global president and chair of Ondas Defense. Barnea will oversee global growth, government affairs, tech strategy and acquisition integration.
Barnea stated that achieving operational edge now depends more on the merger of “intelligence, artificial intelligence, resilient communications, autonomous platforms and precision capabilities.” This represents a directive for integration. Ondas Inc.
The gains on Tuesday were mirrored by two other significant drone and autonomous-defense companies, both of which posted comparable increases. The Nasdaq Composite climbed 2.6%.
| August 4 session | Close | Change |
|---|---|---|
| Ondas Inc. NASDAQ:ONDS | $8.86 | +5.85% |
| AeroVironment Inc. NASDAQ:AVAV | $169.02 | +6.18% |
| Kratos Defense & Security Solutions Inc. NASDAQ:KTOS | $51.87 | +5.41% |
| Nasdaq Composite | 26,584.99 | +2.59% |
MarketWatch supplied the final prices and index figures.
The parallel trend among peers challenges a solely company-specific rationale for Tuesday. Monday’s 11.8% surge still stands as the clearer indicator linked to Barnea’s appointment.
Order activity provides basic backing. Ondas reported $70 million in new orders over a span of four weeks, with the total counting a $6.9 million Australian contract for counter-drone technology. Orders must still be delivered and recognized as revenue.
| Investor comparison | Value |
|---|---|
| Equity value on August 4 | $5.05 billion |
| Equity-value increase over two sessions (estimated) | $780.7 million |
| Estimated DZYNE deal value | $875 million |
| Share of DZYNE value from two-session gain | 89.1% |
| 2026 minimum revenue goal | $525 million |
| Ratio of equity value to revenue goal | 9.6 times |
| Ratio of two-session increase to revenue goal | 1.49 times |
The calculations are based on 569.86 million outstanding shares and the closing share price from Tuesday. The ratios reflect equity value versus revenue, and are not enterprise-value multiples.
Ondas lifted its minimum 2026 revenue outlook to $525 million, up from $390 million, after completing acquisitions of DZYNE and Omnisys. Management projects DZYNE will contribute $191 million in revenue this year. These numbers represent company forecasts.
Projecting Q1 results across the year implies $474.9 million remains for the next three quarters, or an average of $158.3 million each quarter. This calculation is straightforward math, not an official quarterly forecast.
First-quarter revenue was $50.1 million, yielding a gross margin of 49.2%. The quarter saw an operating loss of $42.7 million, with operating cash usage totaling $51.3 million. The upcoming August report will indicate if revenue quality is on an upward trend.
Prior to the latest transaction, liquidity remained strong. As of March 31, cash and short-term investments were $1.47 billion, not including restricted cash. Ondas subsequently completed a $200 million payment and distributed nearly 40 million shares for DZYNE. A further 45 million shares are scheduled for issuance on January 4, 2027.
| Share-base comparison | Shares outstanding | Change from May 13 |
|---|---|---|
| May 13 reported figure | 495.76 million | — |
| Latest market figure | 569.86 million | +14.9% |
| January 2027 basic pro forma | 614.86 million | +24.0% |
The pro forma includes the scheduled delivery of 45 million shares under contract. It does not factor in any additional issuances, exercises, cancellations or repurchases.
Risks: Integration involves a wide range of technologies and customer segments. In the first quarter, 69% of revenue came from three customers. Delays in converting orders are possible, and upcoming share distributions and employee grants may dilute current stockholders.
The August 13 report is able to evaluate the pre-DZYNE platform but does not yet provide evidence of DZYNE’s impact. Barnea’s appointment adds momentum to the integration narrative; margins, cash conversion and order timing now need to support the current valuation.
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