Ondas Inc. Reports Q2 Revenue Surge to $83.8 Million and Raises 2026 Guidance

Key highlights

• Second quarter revenue reached $83.8 million, marking a 13-fold increase over the same period in the prior year
• Full-year 2026 revenue guidance was raised to a range of $525 million to $550 million
• Reported a pro-forma backlog of $757 million as of June 30, 2026, with an additional $270 million in orders secured post-quarter
• The total business pipeline is currently estimated at approximately $11 billion
• Management is targeting an annualized revenue run rate of $1 billion by the end of 2026
• The company achieved 85% pro-forma organic growth during the quarter

Financial Performance

Ondas Inc. delivered a sharp expansion in its financial results for the second quarter of 2026, with revenue hitting $83.8 million. This figure represents a massive leap from the $50.1 million reported in the first quarter of the year and the $30.1 million seen in the final quarter of 2025. The company highlighted that its pro-forma organic growth reached 85%, supported by the integration of its technological platforms. While revenue scaled, the company continues to monitor operational expenses. During the earnings discussion, management referred to a study state language regarding future dollar-based expense reductions as the company scales toward its year-end targets.

Up 0.6% since our story on 13 Oct: $6.67 when we broke it → $6.71 at the close on 13 Oct. Daily closing prices. Source: Yahoo Finance.

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Management Outlook

Following the strong quarterly performance, Ondas raised its full-year 2026 revenue guidance for the third consecutive time. The new target range of $525 million to $550 million replaces the previous estimate of $390 million issued in May. For the upcoming third quarter of 2026, the company has guided for revenue between $140 million and $155 million. Management expressed confidence in reaching an annualized revenue run rate of $1 billion by the end of the fiscal year, underpinned by the conversion of its $757 million pro-forma backlog and the development of an $11 billion pipeline.

Business Overview

Ondas Inc. operates as a technology company specializing in mission-critical industrial and government communication equipment. The company is currently executing a transition to the One Ondas platform, designed to integrate its various business units into a unified operational structure. This strategy aims to streamline product delivery across its core segments, which include advanced wireless networks and autonomous systems for industrial applications.

Sector Dynamics

The technology and communication equipment sector is currently seeing heightened demand for integrated mission-critical solutions. Ondas is positioning itself to capture this demand through both organic growth and strategic acquisitions. Specifically, the pending $33 million acquisition of Aran Defense Ltd. is expected to enhance the company's capabilities in the defense and aerospace markets, a sector that management identified as a key contributor to its expanding pipeline and backlog figures.

What to Watch

• The scheduled release of third-quarter 2026 financial results on November 12, 2026
• The formal closing of the Aran Defense Ltd. acquisition, expected during the third quarter of 2026
• Conversion rates of the $757 million backlog into realized revenue in the second half of the year
• Further clarity on operational expense management as the company scales toward its $1 billion run rate goal

Ondas Inc. · financial snapshot

Share price	$6.67
Market cap	$3.8B
Revenue (annual)	$51M
1-month price change	-8.00%
Sector	TechnologyCommunication Equipment

Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.