New York, January 17, 2026, 06:10 (EST) — Market closed.
- ONDS closed Friday 5.3% lower at $12.16, following a volatile session.
- Ondas raised its 2026 revenue forecast to $170 million–$180 million and reported stronger preliminary revenue and backlog figures for 2025.
- Attention turns to dilution risk from the $1 billion offering and when March results will arrive, as U.S. markets are closed Monday for MLK Day.
Ondas Holdings Inc. shares dropped 5.3% on Friday, ending the day at $12.16. This followed the release of new targets and preliminary results during the company’s investor day. The stock fluctuated between $12.10 and $14.20, with roughly 168 million shares changing hands.
The autonomous systems and private wireless company raised its 2026 revenue forecast to $170 million–$180 million, up from the previous $140 million target. It projects full-year 2025 revenue between $47.6 million and $49.6 million. Fourth-quarter revenue is expected in the $27.0 million to $29.0 million range. Backlog stood at $65.3 million as of Dec. 31. Ondas reported a pro-forma cash balance north of $1.5 billion and plans to release full 2025 results in March.
Ondas bolstered its cash reserves with a capital raise that carries a significant overhang. The company closed a registered direct offering on Jan. 12, selling 19 million shares alongside pre-funded warrants covering up to 41.79 million shares. Each pre-funded warrant comes bundled with the option to buy two additional shares, all priced around $16.45. Ondas expects net proceeds of roughly $959.2 million. The common stock warrants represent 121.58 million shares and could generate about $3.4 billion more if fully exercised for cash. These pre-funded warrants act as stock substitutes, letting investors pay nearly the full price upfront and convert later, often to navigate ownership limits.
Stifel analyst Jonathan Siegmann pushed back against claims that Ondas is “just a hyped-up retail stock,” boosting his price target to $17, according to TipRanks. TipRanks
Ondas streamlined its corporate setup, filing to rename itself Ondas Inc. as of Jan. 16. The company also revised its bylaws and incentive programs to match the new branding.
The preliminary revenue forecast outpaces analyst estimates by a wide margin. TheFly noted the 2025 revenue consensus at $38.13 million, well under Ondas’ guidance of $47.6 million to $49.6 million.
The near-term picture remains complicated. The company’s figures are preliminary and unaudited, with backlog subject to change—it’s not equivalent to booked revenue. Plus, the warrant package tied to the $1 billion deal could weigh on the stock if holders hedge or offload shares during rallies.
U.S. equity markets were closed Monday for Martin Luther King Jr. Day. Traders will have their next chance to gauge sentiment when trading resumes Tuesday, followed by Ondas’s audited 2025 results due in March.
