TLDR
Ondas Holdings (ONDS) stock dropped 5.15% after a recent surge despite reporting strong preliminary Q4 2025 revenue between $27-29 million, beating targets by 51%
Full-year 2025 revenue estimated at $47.6-49.6 million, exceeding previous targets by 23%, with backlog jumping 180% to $65.3 million
Company raised 2026 revenue target to $170-180 million, 25% higher than previous $140 million goal
Pro-forma cash balance tops $1.5 billion after completing approximately $1 billion direct offering
Stock faces selling pressure as investors take profits and question timeline for converting growth plans into actual profitability
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Ondas Holdings stock fell 5.15% Thursday as traders locked in gains following a strong run-up, even as the company delivered preliminary results that crushed expectations.
Ondas Holdings Inc., ONDS
The autonomous systems provider announced Q4 2025 revenue estimates between $27 million and $29 million. That figure beats the company’s prior target by 51%. Full-year 2025 revenue is projected to land between $47.6 million and $49.6 million, topping earlier forecasts by 23%.
Ondas just raised the bar. $ONDS increased its 2026 revenue target to $170–$180M after a strong OAS Investor Day, with improving backlog and solid execution. Confidence is clearly growing here. Worth keeping on radar. $ASTS $RCAT $RKLB $ACHR $UAMY pic.twitter.com/YiyLr3d7We
— Stock Reports (@J_StockReports) January 16, 2026
The preliminary numbers came ahead of the company’s Ondas Autonomous Systems Investor Day presentation. The virtual event took place Thursday at 10:00 AM ET.
Ondas also reported its backlog reached $65.3 million as of December 31, 2025. That represents a 180% jump from $23.3 million in mid-November. The company posted trailing twelve-month revenue of $24.75 million as of Q3 2025.
For 2026, management raised its revenue target to between $170 million and $180 million. The new guidance sits 25% above the previous $140 million target.
Fresh Capital Boosts Balance Sheet
The company completed a direct offering worth approximately $1 billion. That capital raise pushed its pro-forma cash balance above $1.5 billion as of year-end 2025.
Stifel increased its price target from $13 to $17 while maintaining a Buy rating. The upgrade followed the direct offering, which involved 19 million shares of common stock and pre-funded warrants sold to an institutional investor.
The company previously raised $959.2 million through a registered direct offering. Ondas also finalized the acquisition of Sentry CS Ltd, an Israeli company, on November 17, 2025.
Profit Concerns Weigh on Sentiment
Despite the revenue growth and stronger backlog, the stock faced pressure from profit-taking. Investors remain concerned about ongoing losses and negative operating cash flow.
The market is questioning how quickly the company’s growth plans will convert into sustainable profits. Some traders sought downside protection after the stock’s sharp rally. Year-to-date, shares are up 31.35%.
The company operates through its Ondas Autonomous Systems division. OAS delivers AI-powered defense and security platforms through American Robotics, Airobotics, Apeiro Motion, Roboteam Ltd., and Sentrycs.
Ondas changed its corporate name from Ondas Holdings Inc. to Ondas Inc. The change appears in its amended governance documents.
The preliminary financial data has not been audited or reviewed by independent auditors. It does not represent a comprehensive statement of financial results. Complete financial results for 2025 are expected in March 2026. Current market cap stands at $5.49 billion with average trading volume of 93.4 million shares.
