Ondas's third-quarter revenue rises more than 16-fold to $167.5 million

Ondas Inc. reported third-quarter revenue of $167.5 million on 12 November, more than 16 times the $10.1 million of a year earlier. The company put the growth down to acquisitions and higher demand in its defence, counter-drone and autonomous systems businesses. Without the effect of acquisitions, revenue grew 64%.

New orders in the quarter came to $214 million, and the order backlog reached $835 million, 36% more than a quarter earlier. Ondas raised its revenue target for 2026 to at least $550 million and set a target of at least $1.1 billion for 2027, not counting further acquisitions.

Its operating loss grew to $189.5 million from $15.5 million a year earlier, and the net loss to $64.7 million. Ondas blamed accounting costs from acquisitions and production inefficiencies as deliveries rose.

Ondas Sentinel, its US defence unit, booked $100 million in the quarter, including $53.7 million in follow-on orders for the ULTRA platform and $21.7 million for IonStrike systems. Ondas also reported the first flight of its Blitz Block 3 autonomous drone.