Ondas revenue rises to record $83.8 million
- Ondas (NASDAQ:ONDS) reported record Q2 2026 revenue of $83.8 million, up 67% sequentially and more than 13 times higher year over year.
- The company reported Q2 new orders of $175 million and backlog of $613 million, increasing to $757 million on a pro forma basis.
- Ondas raised its 2026 revenue target to $525 million to $550 million and said it is moving toward Adjusted EBITDA profitability.
Ondas (NASDAQ:ONDS) reported second-quarter 2026 revenue of $83.8 million, up from $50.1 million in the first quarter and $6.3 million in the prior-year period, driven by higher business activity.
On a pro forma organic basis, revenue increased 85% year over year, while the company reported new orders of $175 million during the quarter and an additional $105 million booked through the third quarter of 2026.
Ondas reported backlog of $613 million as of June 30, 2026, increasing to $757 million on a pro forma basis including DZYNE and Cyberhawk, while ending the quarter with $1.4 billion in cash, cash equivalents, restricted cash, and short-term investments.
The company raised its full-year 2026 revenue target to $525 million to $550 million and indicated that it expects to reach adjusted EBITDA profitability sooner based on current business activity.
Ondas develops technologies for autonomous systems, including drones, wireless networks, and related solutions for industrial and government applications.
The company continues to expand through organic growth and acquisitions, including the addition of DZYNE and Cyberhawk to its pro forma backlog calculations and operating platform.
