Ondas Holdings Inc.
Q2 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: +2.29%.
Did ONDS Beat Earnings? Q2 2025 Results
Ondas Holdings posted a sharply mixed second quarter, delivering a revenue beat that underscored the explosive growth of its drone business while falling short on the bottom line. The company reported Q2 2025 revenue of $6.27 million, clearing the $5.76 million consensus estimate by 8.99% and representing a remarkable 554.9% increase year-over-year, as accelerating deliveries of Iron Drone and Optimus autonomous systems drove its Ondas Autonomous Systems unit to contribute roughly $6.10 million of the total. Gross profit swung to $3.33 million from a loss in the prior-year period, reflecting the higher-margin profile of drone hardware shipments, yet rising operating expenses pushed the net loss to $0.08 per share, missing the $0.06 consensus estimate by 33.33%. The balance sheet strengthened considerably, with cash surging to $68.55 million following a $42.70 million equity offering. Management reiterated its full-year 2025 revenue target of at least $25 million, supported by $22 million in backlog and a second-half bookings goal of $23 million or more.
- Ongoing deliveries of Iron Drone and Optimus systems under previously announced military and public safety contracts
- Higher-margin Iron Drone product shipments improving gross margins to 53%
- OAS secured $39 million in orders over the last 12 months
- Record $14.3 million single Optimus order from major defense customer
- Follow-on orders of $3.8 million from Government of Dubai for Optimus drone network expansion
- Global demand for autonomous drone systems across defense and homeland security markets
“Ondas delivered a record quarter with $6.3 million in revenue, reflecting accelerating execution and global market adoption at Ondas Autonomous Systems (OAS). OAS is executing with discipline and scale as we continue to see robust international demand for our autonomous drone technologies across defense and homeland security markets.”
Ondas Holdings CEO, on the earnings call
Forward Guidance & Outlook
Ondas reiterated its full-year 2025 revenue target of at least $25 million, representing nearly 250% year-over-year growth from 2024. Growth will be led by OAS, which is expected to generate over $20 million in revenue. The outlook is supported by $22.0 million in backlog at end of Q2 2025 and visibility on production and delivery schedules. The company targets second-half 2025 bookings of $23 million or more, expects to capture at least one DoD order by year-end 2025, and aims to exit 2025 with record backlog and clear revenue visibility into 2026. Ondas Networks revenue expectations are primarily related to existing and expected development programs and modest system sales due to the current lack of firm commitments on rail network buildout timelines. Bookings and revenue growth are expected to fluctuate quarter-to-quarter.
ONDS YoY Financials
ONDS Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.