Q1 25 EPS
$-0.15
MISS 66.67%
Est. $-0.09
Q1 25 Revenue
$4.2M
MISS 13.96%
Est. $4.9M
vs S&P Since Q1 25
+765.5%
BEATING MARKET
ONDS +792.5% vs S&P +27.1%
Market Reaction
Did ONDS Beat Earnings? Q1 2025 Results
Ondas Holdings delivered a mixed first quarter for 2025, missing on both the top and bottom lines even as its autonomous systems business posted explosive growth. Revenue came in at $4.25 million, falling short of the $4.94 million consensus estimate… Read more Ondas Holdings delivered a mixed first quarter for 2025, missing on both the top and bottom lines even as its autonomous systems business posted explosive growth. Revenue came in at $4.25 million, falling short of the $4.94 million consensus estimate by 13.96%, while the loss per share of $0.15 widened well beyond the $0.09 analysts had expected, a 66.67% miss. The headline revenue figure did represent a 579.7% surge year-over-year, fueled almost entirely by the Ondas Autonomous Systems unit, which contributed $4.00 million as deliveries of Iron Drone and Optimus systems replaced lower-margin service revenue and pushed gross margin to 35%. The deeper net loss, however, reflected $3.87 million in non-cash interest expense tied to convertible note discount amortization, a figure that more than quadrupled from a year earlier. Despite the quarterly shortfalls, management reaffirmed its full-year 2025 revenue target of at least $25.00 million, with OAS expected to generate at least $20.00 million of that total, supported by a $16.80 million backlog and recently announced orders across NATO and homeland security customers.
Key Takeaways
- • Over 500% year-over-year revenue growth driven by OAS deliveries of Iron Drone and Optimus systems
- • Initial delivery of Iron Drone and Optimus systems under contracts secured in 2024 and early 2025
- • Gross margin improvement to 35% from higher-margin product revenue at OAS
- • Operating cash burn reduced with improved revenue and collections
ONDS YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
ONDS Revenue by Segment
With YoY comparisons, source: SEC Filings
“Ondas is entering 2025 with strong momentum, led by the outstanding performance of our Ondas Autonomous Systems business unit. OAS is executing effectively on existing programs while expanding its reach with new defense and homeland security customers in Europe and other regions. We ended Q1 with over $25 million in cash and are actively fulfilling our $10 million backlog from 2024. In addition, we are seeing strong demand growth, with $9.3 million in new OAS orders, and we believe visibility on a robust pipeline that now totals $16.8 million positions us to meet or exceed our $25 million revenue goal for the year.”
— Eric Brock, Q1 2025 Earnings Press Release
ONDS Earnings Trends
ONDS vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
ONDS EPS Trend
Earnings per share: estimate vs actual
ONDS Revenue Trend
Quarterly revenue: estimate vs actual
ONDS Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | — | — | $50.1M | — |
| Q4 25 MISS FY | $-0.03 | $-0.62 | -1,966.67% | $30.1M | +8.39% |
| FY Full Year | $-0.19 | $-0.62 | -226.32% | $50.7M | +4.88% |
| Q3 25 BEAT | $-0.04 | $-0.03 | +18.26% | $10.1M | +43.47% |
| Q2 25 MISS | $-0.06 | $-0.08 | -33.33% | $6.3M | +8.99% |
| Q1 25 MISS | $-0.09 | $-0.15 | -66.67% | $4.2M | -13.96% |
| Q4 24 MISS FY | $-0.09 | $-0.61 | -577.78% | — | — |
| FY Full Year | — | $-0.61 | — | $7.2M | — |