Ondas stock slips despite 81% revenue beat on strong Q4 results
Drone technology company reaffirms 2026 revenue target of $180M with $1.5B cash position
Ondas Holdings Inc. shares fell 6.3% on Monday to $9.83, even after the autonomous drone and counter-UAS company reported preliminary fourth-quarter revenue that surpassed analyst estimates by 81%. The company expects to report fourth-quarter 2025 revenue between $29.1 million and $30.1 million, exceeding Wall Street's consensus estimate of $17.5 million and FactSet's projection of $15.9 million. Ondas also beat its own previous guidance range of $27 million to $29 million.
For the full year 2025, Ondas anticipates revenue between $49.7 million and $50.7 million, topping its prior outlook of $47.6 million to $49.6 million. The company reaffirmed its 2026 revenue guidance of $170 million to $180 million, representing approximately 3.4 times growth from the 2025 outlook. The forecast aligns with FactSet's estimate of $176.9 million, according to MarketScreener.
Ondas reported a preliminary net loss for the fourth quarter of 2025 between $20.9 million and $20.4 million, with adjusted EBITDA between a loss of $11.4 million and $10.9 million. For the full year, the expected net loss ranges from $53.3 million to $52.8 million, with adjusted EBITDA losses of $32.9 million to $32.4 million.
The company's financial position has strengthened significantly following a January 12, 2026 capital raise of approximately $1 billion. On a pro forma basis, Ondas's cash and cash equivalents exceeded $1.5 billion as of December 31, 2025, providing substantial runway for operations and potential acquisitions.
Recent contract wins underscore growing demand for Ondas's autonomous systems and counter-drone technology. In early March, the company received orders totaling $6 million for its Sentrycs counter-UAS systems from defense and homeland security customers in the Middle East and other regions addressing escalating drone threats to critical infrastructure. Ondas also secured a $20 million initial purchase order as the prime contractor for a strategic national autonomous border protection program.
Ondas Autonomous Systems, which comprises Airobotics, American Robotics, Iron Drone, and Apeiro Motion, develops the FAA-certified Optimus System for fully automated drone operations, along with the Iron Drone and Sentrycs counter-drone platforms. Sentrycs employs cyber-RF protocol manipulation technology to detect, identify, track, and mitigate unauthorized drones without disrupting surrounding communications, making it suitable for protecting airports, borders, energy facilities, and military bases.
Analysts maintain a strong bullish outlook on the stock. Ondas carries a consensus "Strong Buy" rating with an average 12-month price target of approximately $17.29, according to MarketBeat and Public.com. Several analysts have recently raised their targets to between $16 and $18. The company's market capitalization stands at approximately $4.4 billion.
Ondas will announce its final audited fourth-quarter and full-year 2025 financial results on March 25, 2026, followed by a conference call at 8:30 a.m. Eastern Time the same day.