Ondas Inc
ondas.comWhat Do They Do?
Builds and sells autonomous aerial and ground systems and integrated mission solutions for defense, security, public safety and critical-infrastructure customers, and provides private wireless networks for rail, utilities and other industrial operators.
10-K for FY2025, filed Mar 30, 2026Ondas, Inc. (together with its subsidiaries, the “Company,” “Ondas,” “we,” “us,” or “our”) is a defense, security, and critical…View ↗
OAS focuses on autonomous and unmanned aerial and ground systems and integrated mission solutions for defense, homeland security, public…View ↗
OAS develops, integrates, and operates autonomous systems and mission solutions focused primarily on defense and security applications…View ↗
OAS primarily targets defense, homeland security, and public safety customers, while also serving select commercial operators of critical…View ↗
Ondas Networks designs, develops, manufactures, sells, and supports FullMAX, our patented software-defined radio (“SDR”) platform for…View ↗
How Do They Make Money?
Customers buy hardware, support and project services, and development work; product sales are generally tied to shipment, support to the service period, and development to contract milestones.
10-K for FY2025, filed Mar 30, 2026Product revenues are generated from the sale of hardware and related products. For product sales, control generally transfers to the…View ↗
Service revenues consist primarily of (i) routine support and maintenance services, (ii) product training, installation, and onsite…View ↗
Development revenues are derived from customer contracts that include research, development, and engineering services. These arrangements…View ↗
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10-K for FY2025, filed Mar 30, 2026
FY2025 revenue by product or service ↗
$50.7M
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10-K for FY2025, filed Mar 30, 2026
$50.7M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Product revenue
Sold outright
10-K for FY2025, filed Mar 30, 2026 |
68%
FY2022: 41%
|
Product revenue, FY2025
$34.6M Sources
|
Sold outright |
|
Service revenue
Mix
10-K for FY2025, filed Mar 30, 2026 |
20% |
Service revenue, FY2025
$10.2M Sources
|
Mix |
|
Development revenue
Sold outright
10-K for FY2025, filed Mar 30, 2026 |
12%
FY2022: 44%
|
Development revenue, FY2025
$5.9M Sources
|
Sold outright |
Who Are Their Customers?
Serves defense, homeland security and public safety organizations, as well as critical-infrastructure operators and industrial customers. Its private wireless systems address rail, utilities, oil and gas, public safety, government and other industrial uses.
10-K for FY2025, filed Mar 30, 2026OAS primarily targets defense, homeland security, and public safety customers, while also serving select commercial operators of critical…View ↗
These requirements are present across major critical infrastructure markets, including rail, electric utilities, oil and gas, public…View ↗
Ondas Networks designs, develops, manufactures, sells, and supports FullMAX, our patented software-defined radio (“SDR”) platform for…View ↗
10-K for FY2025, filed Mar 30, 2026
A small number of customers have accounted for a substantial amount of our revenue. Revenue from significant customers, those representing…View ↗
Do Revenues Turn Into Profits?
No. It lost $132.2M in FY2025.
10-K for FY2025, filed Mar 30, 2026
−$58.4MView ↗
10-K for FY2025, filed Mar 30, 2026
−$132.2MView ↗
10-K for FY2025, filed Mar 30, 2026
−$40.8MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 13, 2026
−$88.4MView ↗
- ▲ +722% (Loss)
- vs −$10.8M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 13, 2026
Open tableView ↗
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Sep 14, 2026
Acquired GATE Technologies and Bron Technologies
The acquisition adds electronic safe-and-arm and fuzing technology for weapons.
Sources
8-K, filed Sep 14, 2026
Pursuant to the Agreement, on September 14, 2026 (the “Closing Date”), the Company acquired 100% of the issued and outstanding share…View ↗
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Aug 13, 2026
Raised full-year revenue target to $525-$550 million
Sources
8-K, filed Aug 13, 2026
Increased full-year 2026 revenue target to $525 - $550 million; Pulls forward Adjusted EBITDA profitability timelines $1.4 billion in cash…View ↗
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Aug 10, 2026
Completed the Cyberhawk acquisition
Adds drone-based inspection, visual data management and analytics for critical-infrastructure operators.
Sources
8-K, filed Aug 10, 2026
On August 10, 2026 (the “Completion Date”), Ondas Inc. (the “Company”) completed the previously announced acquisition of Cyberhawk Holdings…View ↗
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Jul 6, 2026
Acquired DZYNE Technologies
Adds long-endurance aircraft, counter-drone systems, autonomous effects and defense relationships.
Sources
8-K, filed Jul 6, 2026
Pursuant to the Agreement, on July 2, 2026 (the “Closing Date”), the Company acquired 100% of the issued and outstanding membership…View ↗
Growing. Revenue grew 17.5x in 4 years, from $2.9M in FY2021 to $50.7M in FY2025, about 104% a year.
From drone data services to integrated defense missions
The older report centered its drone business on automated commercial data-service deployments and Optimus and Scout systems. The latest describes integrated defense and security missions combining aerial and ground autonomy.
10-K for FY2022, filed Mar 14, 2023 10-K for FY2025, filed Mar 30, 2026
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