ONDSNasdaqRadio & Tv Broadcasting & Communications EquipmentUS GAAP · USD

Ondas Inc.

Ondas Inc. develops private wireless communications systems and autonomous data solutions through its operating businesses Ondas Networks and Ondas Autonomous Systems. Its portfolio includes the FullMAX wireless platform for mission-critical industrial networks and drone and ground-robot systems used in defense, homeland security, rail, and critical infrastructure markets, with operations spanning the United States and Israel.

Kysy yhtiöstä
Liikevaihto50,7milj. USD
+605,3 %v/v
Liikevoitto (EBIT)−58,4milj. USD
−68,7 %v/v
EBIT-marginaali−115,1%
+366,1 %-yks.v/v
Nettotulos−132milj. USD
−247,9 %v/v
Vapaa kassavirta−40,8milj. USD
−16,2 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−75−50−250255075milj. USD2020: 2,2 milj. USD2020: EBIT −12 milj. USD20202021: 2,9 milj. USD2021: EBIT −18 milj. USD20212022: 2,1 milj. USD2022: EBIT −69 milj. USD20222023: 16 milj. USD2023: EBIT −40 milj. USD20232024: 7,2 milj. USD2024: EBIT −35 milj. USD20242025: 51 milj. USD2025: EBIT −58 milj. USD202551−58
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Private wireless networking35 %

Software-based wireless infrastructure and connectivity products for industrial and rail networks.

Drone systems40 %

Autonomous drone platforms and related hardware sold for security and industrial use cases.

Ground robotics15 %

Apeiro ground robots and associated robotic systems for defense and security applications.

Services and subscriptions8 %

Recurring service, support, and subscription revenue tied to deployed systems.

Development agreements2 %

Customer-funded engineering and product development work, including partner programs.

Tuotteet

Raportoitu · osuus liikevaihdosta
68,2%20,2%11,6%FY2025100 %
  • Product Revenue68,2 %
  • Service Revenue20,2 %
  • Development Revenue11,6 %

Lähde: 10-K FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

Ondas sells to industrial, rail, defense, homeland security, and critical infrastructure customers that need secure connectivity or autonomous sensing and response systems. Its wireless products are aimed at privately owned wide-area networks, while its drone and robotics offerings are used by organizations that need persistent monitoring, inspection, and security capabilities.

Rail and rail technology partners

Buy FullMAX-based networking products and development work for North American rail communications.

Industrial and critical infrastructure operators

Buy private wireless systems to modernize mission-critical wide-area networks.

Defense and homeland security

Buy drone and robotics systems for surveillance, security, and operational awareness.

Security and inspection customers

Buy autonomous drone and ground-robot solutions with associated services and subscriptions.

Technology partners and integrators

Enter development agreements to co-develop products and accelerate market adoption.

Strategia

Ondas is building a portfolio around private wireless infrastructure and autonomous systems, using partnerships to accelerate adoption in rail, defense, and industrial markets. The strategy centers on converting technical platforms into repeatable products, expanding installed base revenue through services and subscriptions, and using development agreements to open new use cases.

Expand FullMAX adoption in rail and industrial networksKeskipitkä aikaväli

These markets need secure, high-throughput private wireless systems and can support long-lived deployments.

Scale autonomous systems sales and servicesLyhyt aikaväli

Drone and ground-robot systems can broaden the addressable market beyond wireless infrastructure.

Deepen partner-led product developmentKeskipitkä aikaväli

Partnerships reduce market-entry friction and help tailor products to specific end markets.

Increase recurring revenue mixKeskipitkä aikaväli

Services and subscriptions can improve customer retention and support installed-base monetization.

Maantiede

Q1/2026

Ondas is headquartered in the United States, with operating subsidiaries in Texas, Nevada, Delaware, and Israel. Its business is international in scope because its wireless and autonomy products are marketed to industrial and rail customers globally, while supply chain, manufacturing, and regulatory exposure also extend across borders.

Israel43 %
Europe24 %
Asia24 %
North America6,6 %
Other countries (US filing)1,7 %
United Arab Emirates0,6 %

Osuus liikevaihdosta, jonka yhtiö raportoi maantieteellisesti.

Riskit

Ondas depends on customer adoption in specialized markets, so delays in procurement, certification, or deployment can materially affect revenue timing. The company also faces supply-chain, tariff, and export-control exposure because its products rely on imported components and cross-border commercialization, while its accounting results can be volatile due to project-based and product-based revenue recognition.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Tariffs and import cost inflation1Supply chain disruption2Export controls and cross-border regulation4
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Tariffs and import cost inflationVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Drone and wireless products use imported components that may be subject to tariffs.

    Kohdistuu: Global supply chain for hardware components

  2. Supply chain disruptionVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Component shortages or delays can interrupt manufacturing and customer delivery schedules.

    Kohdistuu: Manufacturing and fulfillment

  3. Customer adoption and deployment delaysVaikutus: Korkea

    Sales depend on customers implementing new wireless or autonomy systems, which can take time.

    Kohdistuu: Rail and industrial customers delaying network rollouts

  4. Export controls and cross-border regulationVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    International sales and technology transfer can be constrained by licensing and trade rules.

    Kohdistuu: Foreign markets and strategic growth regions

  5. Revenue concentration in early-stage programsVaikutus: Keskitaso

    Development agreements and new product rollouts can be uneven and non-recurring.

    Kohdistuu: Partner-led programs and pilot deployments

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition by contract type

Products, services/subscriptions, and development agreements may recognize revenue at different times.

Vaikutus: Can cause quarterly volatility and affect comparability across periods

Inventory and cost of goods sold estimates

Hardware businesses must value components, finished goods, and production costs accurately.

Vaikutus: Affects gross margin and reported operating performance

Goodwill and intangible asset impairment

Acquisitions in autonomy and robotics create assets that must be tested for recoverability.

Vaikutus: Potential non-cash charges if expected cash flows weaken

Contract and project accounting

Development agreements and partner programs may involve milestone-based billing or deliverables.

Vaikutus: Can shift revenue and receivables between periods

Samankaltaisia listattuja yhtiöitä

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Kratos Defense & Security Solutions, Inc

KTOS · Guided Missiles & Space Vehicles & Parts

Leidos Holdings, Inc.

LDOS · Services-Computer Integrated Systems Design

ZenaTech, Inc.

ZENA · Services-Prepackaged Software

MicroVision, Inc

MVIS · Electronic Components, NEC

Cuentas Inc.

CUENW · Wholesale-Groceries & Related Products

Coda Octopus Group, Inc.

CODA · Search, Detection, Navigation, Guidance, Aeronautical Sys

Päivitetty: 24.9.2026