Ondas stock climbs again as $70 million order burst raises execution bar

ONDS closed the regular session at $7.80 on Friday, July 24, according to the latest verified data. The stock was last seen at around $7.83 in after-hours trading that same day. At that price, the approximately 569.84 million outstanding shares are valued close to $4.44 billion. Since closing on July 17, ONDS has risen about 19.5%. Trading volume was 101.18 million shares on Friday, signaling heightened investor interest. ONDS is included in the Russell 2000 and Russell 3000, as listed by Fidelity. Ondas Inc.

Ondas and RSE Ventures said on July 24 they had invested in FPF Defense. FPF specializes in building autonomous kinetic interceptors designed to counter drones and airborne threats. Its Hammerhead system engages targets at a range of nine to 20 kilometers. The financial size of the investment and Ondas’ resulting stake were not made public, restricting accurate estimates of revenue or valuation implications. The deal currently adds to Ondas’ counter-drone capabilities. Ondas inc.

The orders represent approximately 13.3% of Ondas’ current $525 million revenue goal. They span ground systems, border security, counter-drone, surveillance, and precision-strike offerings. Included in the total is a $6.9 million order from the Australian Department of Defence. Orders do not constitute immediate revenue. Ondas did not publish a consolidated delivery timeline or provide details on expected profit margin. No fully reconciled, up-to-date company-wide backlog figure was given. Ondas inc.

Ondas posted first-quarter revenue of $50.1 million, up from $4.2 million in the same period last year. Following Q1, the company requires an additional $474.9 million by year-end, averaging around $158.3 million per quarter. The outlook factors in results from recently acquired DZYNE and Omnisys, but does not count Cyberhawk, which is still pending acquisition. The company says the key focus now is on meeting delivery schedules and integration, rather than on the value of new contracts. SEC

Ondas made a payment of about $200 million in cash and committed to issuing roughly 85 million shares. Close to 40 million shares were transferred at closing. The remaining 45 million are set for distribution on January 4, 2027. This upcoming batch equals approximately 7.9% of the current reported outstanding shares. Following full issuance, sellers of DZYNE are expected to hold about 13.8%. Lock-up agreements and trading restrictions lessen, but do not fully prevent, post-transaction selling. Ondas Inc.

No operating profit was recorded. The first quarter ended with an operating loss of $42.7 million. Adjusted EBITDA came in at negative $10.9 million, compared to negative $7.5 million in the earlier period. Reported net income totaled $361.2 million, reflecting significant non-cash accounting gains. Gross profit was reported at $24.7 million, with a margin of approximately 49.2%. Management had previously forecast company-wide adjusted EBITDA profitability for the first quarter of 2028. SEC

Ondas reported cash and investments totaling about $1.485 billion as of March 31, including both restricted cash and short-term investments. The DZYNE deal later needed around $200 million in cash. If completed as planned, the Cyberhawk acquisition would require an estimated $119 million in cash. Additional acquisitions and operating losses have also depleted capital. As a result, the net-cash position will remain unclear until the release of second-quarter results. SEC

Ondas currently reports a market capitalization of roughly $4.44 billion at a share price of $7.80. This represents a market-cap-to-sales ratio of about 8.5 based on the management’s revenue projection of $525 million. The figure used here is market capitalization to sales, not enterprise value, which would be decreased if cash holdings are taken into account. However, the issuance of future DZYNE shares and possible dilution would have the opposite effect. As a result, this valuation depends on significant backlog conversion and improved operating margins. Ondas Inc.

Ondas’ current $525 million revenue guidance does not factor in Cyberhawk. The transaction, which is pending, assigns Cyberhawk a valuation near $125 million. Cyberhawk projects revenue exceeding $45 million for its fiscal year ending March 2027. The company reports a backlog of $95 million and recurring revenue of around 95%. The deal is set to close in the third quarter, pending usual conditions. Updates to 2026 guidance will depend largely on closure and accounting timing. Ondas inc.

Ondas’ investor calendar lists no officially scheduled earnings release at this time. Market sources forecast second-quarter results to be published near August 11, though the company has yet to verify this. Investors plan to focus on figures for revenue, gross margin, adjusted EBITDA, cash and consolidated backlog. Attention will be on whether management reiterates its $525 million guidance. Revisions to DZYNE integration plans could also cause significant stock movement. Ondas Inc.