Ondas Holdings Inc. reported significant financial growth in its latest quarterly results, with net revenues reaching $50.1 million for the three months ended March 31, 2026, a substantial increase from $4.2 million in the same period last year. This 1,080% rise in revenue was primarily driven by the performance of its Ondas Autonomous Systems (OAS) segment, which benefited from recent acquisitions, including Sentry CS Ltd., contributing approximately $15.8 million to the revenue growth. The company also noted a gross profit of $24.7 million, resulting in a gross margin of 51%, up from 35% in the prior year.
The company's operating expenses surged to $67.3 million, up from $11.8 million a year earlier, largely due to increased general and administrative costs, which rose by 633% to $43.3 million. This increase was attributed to higher stock-based compensation, software costs, and professional fees related to acquisitions. Despite the rise in expenses, Ondas reported a net income of $361.3 million, a significant turnaround from a net loss of $14.1 million in the previous year. This remarkable performance was bolstered by a $389.5 million gain from the change in fair value of warrant liabilities and a $51.5 million gain from the deconsolidation of Ondas Networks.
In terms of strategic developments, Ondas completed several acquisitions during the quarter, including Bird Aerosystems and Indo Earth Moving Ltd., which are expected to enhance its product offerings and market presence. The company also deconsolidated Ondas Networks, effective January 16, 2026, after determining it no longer held a controlling interest. This deconsolidation resulted in a gain of $51.5 million, reflecting the company's evolving business structure and focus on its core operations.
Operationally, Ondas has expanded its customer base significantly, with product revenue from OAS increasing to $38.4 million, compared to $3.2 million in the prior year. The company reported strong engagement metrics, with notable contributions from its Optimus System™ and Iron Drone Raider™ products. As of March 31, 2026, Ondas had approximately $1 billion in cash, cash equivalents, and restricted cash, alongside $448 million in short-term investments, indicating a robust liquidity position to support future growth initiatives.
Looking ahead, Ondas Holdings Inc. remains optimistic about its growth trajectory, supported by its strategic acquisitions and a strong liquidity position. The company plans to leverage its recent investments to enhance its technology development and expand its market access, aiming to solidify its position in the defense and critical infrastructure sectors. Management believes that the current financial resources will be sufficient to fund operations and planned capital expenditures for at least the next twelve months, while also considering additional capital to support strategic initiatives as needed.
About Ondas Holdings Inc.
Ondas Holdings Inc. provides private wireless connectivity solutions and autonomous drone systems for critical infrastructure, government, and industrial markets. Its segments include Ondas Networks, offering secure, mission-critical wireless networks, and OAS, developing autonomous drone platforms for security, inspection, and data collection. The company serves rail, energy, public safety, defense, and smart city sectors worldwide, leveraging proprietary technology, industry standards, and regulatory approvals to deliver reliable, high-capacity data and aerial security solutions.
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