ONDS Nasdaq Radio & Tv Broadcasting & Communications Equipment Financials FY2016βFY2025
Ondas Inc. had $50.7M of revenue in fiscal 2025, up 605.3% on the year before. Over five years, revenue changed +87.9% a year on average.
Last close Β· Oct 23, 2026
$6.20
3.0%Hi! I read Ondas Inc.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+605.3%
Yes. Sales grew 605.3% last year.
Does it make a profit?
β260.7%
No. It lost money last year.
Does profit turn into cash?
β80.4%
No. It spent more cash than it brought in.
How healthy are the accounts?
4 / 8
Mixed. It passes 4 of 8 health tests.
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
In plain words: Every quarter, companies publish how much they sold and earned. These are the days Ondas Inc. did it, and the next one. Share prices often move a lot on those days.
Next results
November 12, 2026
Thursday Β· in 17 days
| Date | Results for | Time | Source |
|---|---|---|---|
| Aug 13, 2026 | Q2 '26 | Before the market opens | 8-K β |
| May 14, 2026 | Q1 '26 | Before the market opens | 8-K β |
| Jan 16, 2026 | Q4 '25 | Before the market opens | 8-K β |
| Nov 13, 2025 | Q3 '25 | Before the market opens | 8-K β |
| Jul 9, 2025 | Q2 '25 | Before the market opens | 8-K β |
| May 15, 2025 | Q1 '25 | Before the market opens | 8-K β |
| Mar 12, 2025 | Q4 '24 | Before the market opens | 8-K β |
| Nov 12, 2024 | Q3 '24 | Before the market opens | 8-K β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
KIRA Β· Ondas Inc. had $50.7M of revenue in fiscal 2025, up 605.3% on the year before. Over five years, revenue changed +87.9% a year on average. Its operating margin was β115.1%, up 366.1Β pts: of every 100 in sales, about β115 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· Ondas Inc. lost $132M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was β$40.8M in fiscal 2025, β80.4% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Can it carry its debts, and how well does it use its money?
Cash, debt and the ratios that show how comfortably Ondas Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $40.8M | $29.8M | $15.0M | $30.0M | $572M |
| Debt incl. finance leases | $0.3M | β | β | $0.3M | β |
| Debt / equity | 0.0x | β | β | 0.0x | β |
| Interest coverage | β31.2x | β18.5x | β9.6x | β9.6x | β8.9x |
| Current ratio | 9.7x | 1.6x | 0.7x | 0.9x | 4.8x |
| Quick ratio | 9.4x | 1.5x | 0.6x | 0.7x | 4.7x |
| Total assets | $117M | $97.9M | $92.2M | $110M | $1.1B |
| Total liabilities | $5.2M | $39.7M | $47.1M | $73.7M | $661M |
| Shareholders' equity | $112M | $58.2M | $33.1M | $16.6M | $438M |
| Net debt (β = net cash) | β$40.5M | β | β | β$29.7M | β |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· Ondas Inc. passes 4 of 8 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | 3 / 7 | 2 / 8 | 4 / 8 | 5 / 9 | 3 / 9 | 2 / 8 | 3 / 8 | 4 / 8 | 4 / 8 |
| Accruals ratio | β98.2% | β108.3% | β211.9% | β136.5% | β36.3% | 2.6% | β32.8% | β11.4% | β4.5% | β15.0% |
| Altman Z'' | β | β162.68 | β99.33 | β84.23 | β5.45 | 21.62 | β7.46 | β10.05 | β9.10 | 2.44 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $0.0M | $0.3M | $0.2M | $0.3M | $2.2M | $2.9M | $2.1M | $15.7M | $7.2M | $50.7M |
| Gross profit | β$0.0M | $0.2M | $0.2M | $0.2M | $0.9M | $1.1M | $1.1M | $6.4M | $0.3M | $20.2M |
| Research and development | β | $1.0M | $3.1M | $5.4M | $3.6M | $5.8M | $24.0M | $17.1M | $12.5M | $20.9M |
| Operating income | β$0.0M | β$2.4M | β$8.4M | β$15.4M | β$11.5M | β$18.0M | β$69.4M | β$39.7M | β$34.6M | β$58.4M |
| Interest expense | β | $0.6M | $2.7M | $2.9M | $1.9M | $0.6M | $3.8M | $4.2M | $3.6M | $6.6M |
| Pretax income | β | β$3.0M | β$12.1M | β$19.4M | β$13.5M | β$17.9M | β$73.2M | β$44.8M | β$38.0M | β$133M |
| Income tax | β | β | β | β | β | β$2.9M | β | $62.6M | $69.4M | $0.5M |
| Net income | β$0.0M | β$3.0M | β$12.1M | β$19.4M | β$13.5M | β$15.0M | β$73.2M | β$44.8M | β$38.0M | β$132M |
| Net income to common | β | β | β | β | β$13.5M | β$15.0M | β$73.2M | β$46.4M | β$42.4M | β$137M |
| Diluted EPS | β$0.01 | β$0.19 | β$0.42 | β$1.10 | β$0.66 | β$0.44 | β$1.73 | β$0.88 | β$0.61 | β$0.62 |
| Diluted shares | 0.00B | 0.02B | 0.03B | 0.02B | 0.02B | 0.03B | 0.04B | 0.05B | 0.00B | 0.00B |
| Cash flow | ||||||||||
| Cash from operations | β$0.0M | β$2.6M | β$8.5M | β$14.7M | β$7.5M | β$16.9M | β$38.0M | β$34.0M | β$33.5M | β$38.7M |
| Capital expenditure | β | β | $0.5M | $0.1M | $0.0M | $0.9M | $2.9M | $0.2M | $1.6M | $2.0M |
| Free cash flow | β | β | β$9.1M | β$14.7M | β$7.5M | β$17.8M | β$40.8M | β$34.2M | β$35.1M | β$40.8M |
| Depreciation and amortization | β | $0.0M | $0.1M | $0.1M | $0.1M | $1.5M | $4.0M | $5.0M | $0.6M | $0.9M |
| Stock-based compensation | β | $0.0M | β | $0.9M | $4.7M | $3.3M | $5.9M | $1.0M | $1.3M | $16.0M |
| Acquisitions | β | β | β | β | β | $6.5M | β | β | β | β |
| Balance sheet | ||||||||||
| Cash and short-term investments | $0.0M | $0.5M | $1.1M | $2.2M | $26.1M | $40.8M | $29.8M | $15.0M | $30.0M | $572M |
| Total debt | β | β | β | $10.6M | $7.7M | $0.3M | β | β | $0.3M | β |
| Current assets | $0.0M | $0.7M | $2.0M | $3.3M | $27.9M | $44.7M | $35.8M | $23.6M | $47.5M | $686M |
| Current liabilities | β | $5.9M | $17.2M | $16.1M | $12.5M | $4.6M | $22.7M | $35.9M | $50.6M | $142M |
| Inventory | $0.0M | $0.2M | $0.3M | $0.4M | $1.2M | $1.2M | $2.2M | $2.2M | $9.8M | $22.0M |
| Property and equipment, net | β | $0.0M | $0.5M | $0.3M | $0.2M | $1.0M | $3.0M | $4.2M | $2.6M | $10.2M |
| Goodwill | β | β | β | β | β | $45.0M | $25.6M | $27.8M | $27.8M | $252M |
| Intangible assets | β | β | $0.1M | $0.1M | $0.4M | $25.2M | $28.9M | $31.3M | $27.2M | $137M |
| Total assets | $0.0M | $0.7M | $2.7M | $4.3M | $28.5M | $117M | $97.9M | $92.2M | $110M | $1.1B |
| Total liabilities | $0.1M | $8.6M | $17.5M | $16.7M | $13.4M | $5.2M | $39.7M | $47.1M | $73.7M | $661M |
| Preferred stock | β | β | β | β | β | β | β | β | β | $0.0M |
| Shareholders' equity | β$4.9M | β$7.9M | β$14.9M | β$12.4M | $15.1M | $112M | $58.2M | $33.1M | $16.6M | $438M |
| Margins | ||||||||||
| Gross margin | β125.5% | 70.9% | 79.3% | 75.3% | 42.9% | 37.7% | 52.2% | 40.7% | 4.8% | 39.7% |
| Operating margin | β629.1% | β872.6% | β4,439.7% | β4,797.7% | β532.6% | β618.3% | β3,266.0% | β253.2% | β481.1% | β115.1% |
| EBITDA margin | β | β867.7% | β4,410.8% | β4,752.9% | β527.2% | β566.3% | β3,077.0% | β221.4% | β472.8% | β113.2% |
| Net margin | β629.1% | β1,101.4% | β6,366.8% | β6,051.8% | β622.9% | β516.9% | β3,445.4% | β285.8% | β528.4% | β260.7% |
| FCF margin | β | β | β4,769.2% | β4,601.2% | β348.6% | β613.0% | β1,921.3% | β218.1% | β488.0% | β80.4% |
| Returns | ||||||||||
| Return on capital | β | β | β | β | β | β19.8% | β | β | β | β |
| Return on capital employed | β | 46.5% | 57.8% | 130.3% | β71.9% | β15.9% | β92.3% | β70.7% | β58.6% | β5.9% |
| Return on equity | β | β | β | β | β1,015.9% | β23.6% | β85.9% | β98.2% | β152.9% | β58.2% |
| Return on assets | β607.0% | β835.7% | β716.0% | β560.0% | β82.2% | β20.6% | β68.0% | β47.2% | β37.7% | β21.3% |
| Return on tangible equity | β | β | β | β | β91.7% | β35.7% | β1,952.0% | β | β | β279.3% |
| Growth | ||||||||||
| Revenue growth | β | 4,889.1% | β30.8% | 68.6% | 575.3% | 34.3% | β26.9% | 638.1% | β54.2% | 605.3% |
| Share count change | β | 439.7% | 76.2% | β38.3% | 16.0% | 67.3% | 23.6% | 24.9% | β99.9% | 217.3% |
| Financial health | ||||||||||
| Debt / equity | β | β | β | β | 0.5x | 0.0x | β | β | 0.0x | β |
| Interest coverage | β | β3.7x | β3.2x | β5.2x | β6.0x | β31.2x | β18.5x | β9.6x | β9.6x | β8.9x |
| Current ratio | β | 0.1x | 0.1x | 0.2x | 2.2x | 9.7x | 1.6x | 0.7x | 0.9x | 4.8x |
| Quick ratio | β | 0.1x | 0.1x | 0.2x | 2.1x | 9.4x | 1.5x | 0.6x | 0.7x | 4.7x |
| Capital allocation | ||||||||||
| Capex / revenue | β | β | 286.4% | 24.3% | 0.4% | 31.8% | 135.5% | 1.3% | 22.7% | 4.0% |
| Stock comp / revenue | β | 0.4% | β | 292.8% | 216.1% | 111.9% | 275.5% | 6.7% | 17.6% | 31.6% |
| Quality scores | ||||||||||
| Piotroski F-score | β | 3.0 | 2.0 | 4.0 | 5.0 | 3.0 | 2.0 | 3.0 | 4.0 | 4.0 |
| Altman Z'' | β | β162.7 | β99.3 | β84.2 | β5.5 | 21.6 | β7.5 | β10.1 | β9.1 | 2.4 |
| Accruals ratio | β98.2% | β108.3% | β211.9% | β136.5% | β36.3% | 2.6% | β32.8% | β11.4% | β4.5% | β15.0% |
Source: SEC EDGAR XBRL filings (CIK 0001646188). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
