New York, June 16, 2026, 05:03 EDT
- Ondas finished Monday at $9.51, gaining 1.93% on the session. The stock changed hands at $9.68 before the bell.
- Stockholders linked to recent transactions registered 6,070,948 shares for resale, according to a June 15 filing.
- The next thing to watch is if Q2 orders turn into revenue for the stock, and if that happens without raising the company’s cash burn.
Ondas Inc. (ONDS) closed at $9.51 on Monday, up $0.18 or 1.93%. The move came even as a fresh resale filing boosted available shares for the defense-drone stock, which has traded with big swings this year. ONDS traded between $9.42 and $9.97 through the session. Early Tuesday, Google Finance showed the stock back up in pre-market at $9.68. Shares sit well above the 52-week low of $1.36 but still down from the $15.28 high. Momentum buyers are active, though the pipeline and performance worry longer-term holders.
Ondas didn’t put out an operating update this time. According to a June 15 SEC filing, the company filed a prospectus supplement covering the possible resale “from time to time” of 6,070,948 common shares held by selling shareholders. These shares came from the company’s Omnisys Ltd. and Indo Earth Moving Ltd. agreements—3,019,066 shares tied to Omnisys, 3,051,882 shares for Indo Earth Moving. Ondas said proceeds, if the shares are sold, will go to the holders, not to Ondas. The company isn’t raising money through this filing, but if holders choose to sell, these shares could hit the market.
Ondas shares moved higher after reporting new order figures the market wanted. The company said it booked more than $30 million in new orders in May, bringing its Q2 orders to over $110 million so far. Q1 revenue came in at $50.1 million, and the company listed a pro forma backlog at $457 million. “Securing over $30 million in new orders during May, and over $110 million in orders quarter-to-date, reflects Ondas’ continued execution,” Chairman and CEO Eric Brock said in the release. Earlier in the month, Ondas’ World View unit got a $4.8 million three-month deal with U.S. Navy SOUTHCOM. That gave defense-focused investors more ISR and autonomy orders to watch. Ondas Inc. Ondas Inc.
Ondas bulls say the story is shifting as the company leans harder into defense, security, and autonomous tech. Q1 revenue came in at $50.1 million, more than ten times last year. Management now has at least $390 million set as the 2026 sales target. By the end of March, Ondas was holding $1.48 billion in cash, equivalents, restricted cash, and short-term investments, which is enough to push M&A, boost output, and back customer projects. But expansion is hitting the balance sheet. Ondas posted a Q1 operating loss of $42.7 million. Shares outstanding rose from 469.1 million on March 31 to 517.2 million shown in a June prospectus, with another new resale block not yet included.
ONDS looks risky, not just cheap, here. Market cap is about $4.9 billion. The 2026 revenue target is at least $390 million, so the stock is now trading at more than 10 times forward sales. That only works if orders turn into profit and defense orders hold up. Shares could slide hard if holders dump, deals don’t pan out, or if the Q2 numbers show backlog isn’t converting to real revenue. Q2 earnings are next. Investors will focus on sales, gross margin, cash operating expense, and whether the announced $110 million-plus Q2-to-date orders end up recorded as recognized revenue.
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