Ondas(DE:1B8)
€4.86-0.35 (-6.81%)
DE:1B8
Ondas earnings date
€4.86
At close:-0.35 (-6.81%)
Ondas (1B8) Q3 2026 Earnings Report
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DE:1B8 Q3 2026 EPS Results
- Actual EPS
- -EUR 0.09
- Consensus EPS
- -EUR 0.12
- Beat/Miss
- Beat by +EUR 0.03
- One Year Ago EPS
- -EUR 0.03
DE:1B8 Q3 2026 Revenue Results
- Actual Revenue
- EUR 151.40M
- Expected Revenue
- EUR 133.82M
- Beat/Miss
- Beat by +EUR 17.58M
- YoY Revenue Growth
- +1558.58%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/12/2026
- Time
- Before Open
- Conference Call
- Thursday, November 12, 2026
DE:1B8 Upcoming Earnings
Ondas's next earnings date is estimated for March 17, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
DE:1B8 Q3 2026 Earnings Call
0:00 / 0:00
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly optimistic, supported by record revenue, 64% organic growth, a 36% sequential backlog increase, raised 2026 and 2027 revenue targets, significant ULTRA and IonStrike opportunities, and an improved profitability timeline. The company also reported substantial operating losses, gross-margin pressure, acquisition-related cash deployment and continued investment requirements, but management characterized these investments and margin challenges as part of the scale-up plan and expects improving operating leverage. Highlights significantly outweighed the lowlights.
Company Guidance
Ondas is targeting full year 2026 revenue of at least $550 million, including more than $250 million in the fourth quarter, with at least 75% organic year-over-year growth on a same-store basis for Q4, and expects backlog above the $835 million reported at September 30 at year-end; for 2027, it initiated a revenue target of at least $1.1 billion, excluding potential acquisitions and assuming organic growth of more than 40%. Adjusted gross margins are expected to remain in the mid-30% range in Q4, with a longer-term target over the next 12 to 24 months of 45% to 50%; the operating platform is expected to achieve adjusted EBITDA profitability in the fourth quarter of 2026, while company-wide adjusted EBITDA profitability is expected in the third quarter of 2027, 1 quarter earlier than the previous target. IonStrike production is expected to reach hundreds of units per month early in 2027 and expand towards thousands of units per month beginning in late 2027, while ULTRA production is expected to scale to as many as 10 aircraft per month by 2028 and could ultimately become a $1 billion annual recurring service revenue opportunity.
- Record Third-Quarter Revenue and Raised OutlookThird-quarter revenue reached a record $167.5 million, up 100% sequentially and more than 16x the prior-year period. Ondas expects fourth-quarter revenue above $250 million, raised its full-year 2026 revenue target to at least $550 million, and introduced a 2027 revenue target of at least $1.1 billion.
- Strong Organic GrowthPro forma organic revenue growth was approximately 64% year-over-year in Q3. Management expects organic growth to reach at least 75% year-over-year on a same-store basis in Q4 and more than 40% in 2027.
- Backlog and Order MomentumBacklog reached approximately $835 million at September 30, up 36% sequentially and more than 12x the Q4 2025 level. The company received approximately $214 million of new orders during Q3 and $507 million during the first nine months of the year, and expects backlog to be higher than $835 million exiting 2026.
- Broad-Based Business PerformanceSentrycs reported Q3 pro forma revenue growth of more than 3.5x year-over-year; 4M generated nearly 3x its prior-year Q3 revenue and is positioned to outperform its original 2026 model by 2.3x; Rotron delivered 250% year-over-year revenue growth; and Mistral reported 136% organic growth while producing and shipping against the LUS IDIQ.
- Expanded Defense and Technology PortfolioThe acquisitions of DZYNE and Cyberhawk strengthened Ondas' U.S. defense and critical-infrastructure position. Insignito, Ottopia and Caribou Labs added acoustic sensing, remote operations, resilient communications and navigation capabilities for GPS-denied environments. GATE, together with pending acquisitions of Stemme and ARAN, is intended to expand airframe engineering, electronic fuzing, supply-chain capacity and high-volume manufacturing.
- Supply-Chain and Production IntegrationManagement said integrating acquired assets is addressing supply-chain bottlenecks, reducing reliance on third parties and improving product performance, cost, margins and delivery. The company is expanding production, field support and sustainment capabilities to serve customers at scale.
- Strong Liquidity PositionOndas ended the quarter with approximately $820 million in cash, cash equivalents, restricted cash and short-term investments, compared with $616 million at the end of 2025. The company also held $65 million of investments in unaffiliated public and private companies.
- Four Strategic Growth MarketsOndas reported activity across Aerial Security, ISR and Persistent Intelligence, Precision Strike, and Autonomous Ground Systems. The portfolio includes counter-drone systems, multilayer surveillance, autonomous launch effects, robotic ground platforms and AI-enabled command-and-control capabilities.
- Regna AI InitiativeOndas launched Regna AI to develop mission-specialized sovereign AI models that governments and defense partners can own, control and securely deploy. The initiative combines NVIDIA's open-weight model ecosystem, Palantir software platforms and Ondas' expertise in ISR, autonomy, sensor fusion and command and control. Management said Regna AI is not included in the current financial forecast, making any future contribution additional to the stated outlook.
- ULTRA Platform Economics and Expansion OpportunityULTRA is described as providing approximately 3x the flight endurance at 1/5 the cost of traditional platforms. Management compared an MQ-9 combat air patrol requiring nearly $200 million upfront and more than $50 million in annual operating costs with ULTRA at approximately $25 million upfront and $23 million in annual operating costs. Ondas said demand signals exist for dozens of aircraft and that the platform could ultimately support a $1 billion annual recurring service revenue opportunity.
- ULTRA Production Capacity PlanThe planned Stemme acquisition would bring ULTRA airframe manufacturing in-house. Stemme's European facility is operating at 25% capacity utilization, and Ondas intends to establish up to 345,000 square feet of additional U.S. manufacturing capacity. The company aims to scale ULTRA production to as many as 10 aircraft per month by 2028.
- IonStrike Customer and Production ProgressOndas submitted a response to a $45 million sole-source RFP for IonStrike and was selected for a $10 million integration order with a new U.S. government customer. IonStrike has a targeted sales price below $50,000 per unit, and the company expects to reach hundreds of units per month early in 2027 and expand toward thousands of units per month beginning in late 2027.
- IonStrike Demand and Product PositioningManagement described demand for low-cost interceptors as massive, citing requirements in Ukraine, the Middle East and Europe. IonStrike is designed to integrate with current command-and-control systems, can be aborted or retargeted mid-flight, and is intended to achieve cost parity against Shahed 136-class systems. The company said IonStrike could become a significant business and address a multibillion-dollar annual market opportunity.
- Electronic Fuzing and Precision-Strike CapabilitiesGATE and Bron Technologies established a position in electronic safe-and-arm devices and advanced electronic fusing for precision weapons, missiles and interceptors. Management said GATE provides engineering, customer relationships and an international production footprint, including NATO-based non-ITAR manufacturing through Bron in Poland.
- Land Systems Division and PipelineOndas created a Land Systems division combining five companies under one strategy focused on autonomous ground vehicles. The division is tracking approximately $3.25 billion of identified, unweighted pipeline opportunities through 2031 and is intended to support larger multiyear defense programs.
- Autonomous Ground Systems MomentumManagement expects INDO Earth's combat-engineering-vehicle orders and programs to ship in Q4 and the first half of 2027, with potential additional orders. 4M is continuing land-clearance activities and pursuing follow-on orders, while Iron-Wave systems have been deployed and well received, with expected growth into 2027.
- Improved Profitability TimelineOndas expects the operating platform to achieve adjusted EBITDA profitability in Q4 2026. The company moved its company-wide adjusted EBITDA breakeven target forward to Q3 2027 from Q4 2027, citing increased visibility into revenue and gross-profit expansion.
- U.S. and International Market PositionThe U.S. represented more than 50% of Q3 revenue, and management expects it to remain Ondas' largest market. Management said current U.S. work is supported by 2026 budgets and operating-and-maintenance budgets, and that Israel-related business is not funded or expected to be funded by the U.S. government. International demand for ULTRA combat air patrols was described as approximately 25% to 30% of overall demand.
- Recurring and Repeat Revenue StrategyOndas is focusing on increasing recurring and repeat revenue through software, services, sustainment, longer-duration programs and mission-critical components designed into customer platforms. Management said recurring and reoccurring revenue is currently a small part of the revenue stream but expects it to grow as the installed base expands.
DE:1B8 Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Mar 17, 2027 | 2026 (Q4) | -0.09- | -0.3 | ― | ― |
| Nov 12, 2026 | 2026 (Q3) | -0.12-0.09 | -0.03 | -233.33% (-0.06) | |
| Aug 13, 2026 | 2026 (Q2) | -0.08-0.17 | -0.07 | -137.50% (-0.10) | |
| May 14, 2026 | 2026 (Q1) | -0.050.73 | -0.14 | 640.00% (+0.87) | |
| Mar 23, 2026 | 2025 (Q4) | -0.04-0.30 | -0.14 | -123.33% (-0.17) | |
| Nov 13, 2025 | 2025 (Q3) | -0.04-0.03 | -0.14 | 80.00% (+0.11) | |
| Aug 12, 2025 | 2025 (Q2) | -0.07-0.07 | -0.13 | 42.86% (+0.05) | |
| May 15, 2025 | 2025 (Q1) | -0.09-0.14 | -0.15 | 11.76% (+0.02) | |
| Mar 12, 2025 | 2024 (Q4) | -0.08-0.14 | -0.23 | 40.00% (+0.09) | |
| Nov 12, 2024 | 2024 (Q3) | -0.11-0.14 | -0.14 | 0.00% (+0.00) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat Missed
