Ondas Massive Beat!
$ONDS ๐๐ง๐๐๐ฌ: ๐๐ ๐๐๐ฏ๐๐ง๐ฎ๐ ๐๐๐๐ญ๐ฌ ๐๐ฌ๐ญ๐ข๐ฆ๐๐ญ๐๐ฌ, ๐๐ฎ๐ซ๐ ๐๐ฌ ๐๐๐ฑ ๐๐จ๐, ๐๐๐ข๐ฌ๐๐ฌ ๐
๐๐๐๐๐ ๐๐ง๐ ๐๐ง๐ข๐ญ๐ข๐๐ญ๐๐ฌ ๐
๐๐๐๐๐ ๐๐ฎ๐ญ๐ฅ๐จ๐จ๐ค
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๐ ๐๐๐ฌ๐ฎ๐ฅ๐ญ๐ฌ
โข Revenue: $167.5M (Est. $148.04M) โ
, +100% QoQ, >16x YoY.
โข Pro Forma Organic Revenue Growth: +64% YoY.
โข Net Loss: $64.7M (vs. $89.7M loss QoQ).
โข Operating Loss: $189.5M.
โข Adjusted EBITDA Loss: $59.7M (vs. $46.2M loss QoQ).
โข GAAP Gross Margin: 21.8% (vs. 43.1% QoQ).
โข Adjusted Gross Margin: 34.8% (vs. 50.4% QoQ).
โข Backlog: $835M, +36% QoQ.
โข Q3 Bookings: $214M.
โข Cash & Short-Term Investments: $820.3M, including restricted cash.
โ
๐ฏ ๐๐ฎ๐ข๐๐๐ง๐๐
โข Q4 Revenue: >$250M (Est. $254.82M).
โข Q4 Pro Forma Organic Revenue Growth: โฅ75% YoY.
โข FY2026 Revenue: โฅ$550M (Est. $536.73M) โ
, raised from $525Mโ$550M.
โข FY2027 Revenue: โฅ$1.1B (Est. $1.01B) โ
, initiated.
โข Q4 2026 Operating-Platform Adjusted EBITDA: Breakeven target reaffirmed.
โข Company-Wide Adjusted EBITDA Profitability: Targeted for Q3 2027, accelerated from Q4 2027.
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๐ ๐๐๐ฒ ๐๐๐ค๐๐๐ฐ๐๐ฒ๐ฌ
โข Q3 revenue beat consensus by ~13.1%, doubling sequentially and increasing more than 16x YoY.
โข Pro forma organic growth reached 64% YoY, distinguishing underlying growth from acquisition-driven expansion.
โข Backlog increased 36% QoQ to $835M, supported by $214M in new orders.
โข Ondas Sentinel secured ~$100M in bookings, including $53.7M in ULTRA follow-on orders and $21.7M in IonStrike orders.
โข Adjusted gross margin declined 1,560 bps QoQ to 34.8%, reflecting production ramp inefficiencies and revenue mix.
โข Adjusted EBITDA loss widened to $59.7M despite record revenue.
โข Completed six strategic acquisitions, including DZYNE Technologies and Cyberhawk.
โข Established Ondas Sentinel as its core U.S. defense platform and launched Regna AI for sovereign AI applications.
โข Regna AI plans to leverage NVIDIA Nemotron models and Palantir deployment platforms.
โข Expanded counter-drone deployments across major sporting venues, including 2026 FIFA World Cup stadiums and NFL facilities.
โข FY2027 revenue target of at least $1.1B implies approximately 100% growth over the FY2026 minimum target.
โข Company-wide adjusted EBITDA profitability target moved forward by one quarter to Q3 2027.
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๐ฌ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐จ๐ฆ๐ฆ๐๐ง๐ญ๐๐ซ๐ฒ
โThe next phase is about disciplined execution: delivering on customer commitments, integrating our capabilities, and converting demand to sustainable growth and improving profitability.โ
