Earnings Releases·Nov 12, 2026, 8:24 AM ET

Ondas Inc. — Q3 2026 Earnings Summary

Q3 2026 revenue surged 100% sequentially to $167.5 million and more than 16-fold year-over-year to $167.5 million, while backlog increased 36% to $835 million; however, operating loss widened to $189.5 million and net loss was $64.7 million, driven by $88.1 million in non-cash expenses and $14.1 million in acquisition-related cash costs.
Management raised full-year 2026 revenue guidance to at least $550 million and initiated a 2027 target of at least $1.1 billion, projecting Q4 revenue exceeding $250 million and operating platform Adjusted EBITDA profitability in Q4 2026, with company-wide Adjusted EBITDA profitability accelerated to Q3 2027.
The company executed six strategic acquisitions (including DZYNE Technologies and Cyberhawk) and announced a planned acquisition of Stemme, while establishing new business units for Sentinel, Regna AI, and Land Systems to capture $214 million in new orders.
Total assets grew to $4.03 billion and stockholders' equity to $2.37 billion as of September 30, 2026, supported by $820.3 million in cash and short-term investments, though total liabilities rose to $1.66 billion primarily due to warrant liability increases.