Abstract
Ondas Holdings Inc. will release its quarterly results on August 13, 2026 Pre-MKt; investors are watching the scale of order conversion and post-close integration updates alongside margin and EPS progress.Market Forecast
Consensus expects Ondas Holdings Inc. to post revenue of 67.97 million US dollars this quarter, implying 1211.05% year-over-year growth, and adjusted EPS of -0.09, an 11.56% year-over-year improvement. Forecast gross margin and net margin are not available under the current consensus framework.In terms of operating focus, the company’s revenue mix remains product-led with services and development supporting recurring and program-tail revenue. The most promising platform is the autonomous systems and counter‑UAS portfolio centered on Mistral and the newly formed Sentinel division; order momentum over the past quarter provides visibility, with company-level revenue last quarter at 50.12 million US dollars, up 1079.85% year over year.
Last Quarter Review
Ondas Holdings Inc. reported revenue of 50.12 million US dollars last quarter, a gross profit margin of 49.20%, GAAP net profit attributable to shareholders of 361.00 million US dollars, a net profit margin of 720.74%, and adjusted EPS of -0.07, representing a 53.33% year-over-year improvement.A key highlight was outsized top-line expansion versus a low prior-year base, supported by larger program deliveries and stronger product shipments. By business line, Products contributed 38.37 million US dollars, Services and subscriptions 9.32 million US dollars, and Development 2.43 million US dollars, with total sales up 1079.85% year over year.
Current Quarter Outlook
Main revenue engine: product programs and deliveries
Revenue is expected to climb to 67.97 million US dollars this quarter, with consensus embedding a rapid year-over-year expansion profile from a lower comparable and continued conversion of awarded programs. The product-led mix last quarter (38.37 million US dollars) suggests recognition skew remains tied to tangible deliveries and milestones rather than pure services accrual, which in turn concentrates quarterly variability around shipping schedules and customer acceptance. EPS is forecast at -0.09, indicating incremental operating leverage on higher revenue even as the company continues to invest in scaling its platform and absorbing integration costs.Gross margin last quarter was 49.20%, and while there is no formal margin forecast for the current period, the anticipated mix of higher-volume product deliveries and services attach should be a supportive backdrop. Execution on working capital—particularly inventory turns and receivables timing—will shape the cadence of deliveries that translate into recognized revenue by quarter-end. Operating expense cadence versus revenue ramp remains the lever to narrow losses; consensus EBIT stands at -53.74 million US dollars for the quarter, reflecting sustained spend aligned with multi-program execution.
Most promising business: autonomous systems and counter‑UAS platforms
Order activity and strategic moves since the last report reinforce the potential of the autonomous systems and counter‑UAS platforms. On July 6, 2026, the company closed the acquisition of Dzyne Technologies for 875.80 million US dollars in cash and stock and formed Ondas Sentinel to unify autonomous defense technologies, while raising the full‑year revenue outlook to at least 525.00 million US dollars. This follows a concentrated flow of new awards, including more than 70.00 million US dollars of orders announced on July 22, 2026 across unmanned ground systems, counter‑drone systems, border security, ISR technologies, and autonomous precision‑strike capabilities. On August 6, 2026, the company disclosed an additional order exceeding 50.00 million US dollars for Mistral under a 982.00 million US dollars multi‑year IDIQ, bringing total awards under that program above 240.00 million US dollars, including the initial 190.80 million US dollars order scheduled for delivery in the third quarter.While deliveries tied to certain awards are scheduled beyond the current quarter, the breadth of new orders in May through July supports pipeline sustainability and future revenue conversion. For the current print, investors should expect the contribution to skew toward programs already in delivery, with the mix potentially shifting in subsequent quarters as larger scheduled deliveries begin. With the services and subscriptions line at 9.32 million US dollars last quarter, recurring and software‑adjacent revenues can help stabilize gross margin as product volumes scale.
Key stock‑price swing factors this quarter
Order conversion and backlog clarity are likely to drive the stock reaction on August 13, 2026. The market will look for quantitative disclosures linking recent orders to near‑term delivery schedules, particularly where previously announced awards carry specific quarter delivery targets. Given the timing of the Dzyne closing in early July, commentary on the integration of teams, product roadmaps under the Sentinel structure, and any updated full‑year outlook will be focal points for framing second‑half revenue and EPS trajectories.Margin commentary relative to the 49.20% gross margin last quarter will be closely scrutinized. Investors will seek signals on bill‑of‑materials normalization, manufacturing scale economies, and the impact of services attach rates on blended margins. Any data points on operating expense discipline amid the consolidation of acquired entities should help reconcile the negative consensus EBIT with the ambitious revenue ramp. Lastly, capital markets dynamics—including any updates on shareholder stock sales disclosed on June 26, 2026 and potential impacts on float and liquidity—could affect sentiment, even if they do not directly influence operations.
Analyst Opinions
The balance of published analyst views over the past six months is decisively bullish. Among the institutions commenting on Ondas Holdings Inc., Stifel Nicolaus (Jonathan Siegmann, Buy, 18.00 US dollars price target), Oppenheimer (Timothy Horan, Buy, 16.00 US dollars), Northland Securities (Michael Latimore, Buy, 18.00 US dollars), and Lake Street (Max Michaelis, Buy, 19.00 US dollars, reiterated in multiple notes) all maintain constructive stances. On a count basis, the ratio is 100% bullish and 0% bearish among identified recommendations.Analysts cite two principal drivers for their positive stance. First, accelerating order momentum and program awards across Mistral and the broader autonomous platform underpin forward revenue visibility, with several contracts structured under multi‑year IDIQ frameworks that can support staggered, scalable deliveries. Second, the strategic consolidation of autonomous capabilities—exemplified by the Dzyne Technologies transaction and subsequent formation of the Sentinel division—provides an integrated architecture that can simplify execution, promote solution cross‑sell, and potentially improve blended margins through software, services, and analytics attach. Analysts also note that the rise in full‑year revenue outlook to at least 525.00 million US dollars, disclosed on July 6, 2026, reframes the second‑half bar and sets a context in which quarterly volatility is less critical than the trajectory of order conversion and integration milestones.
From a near‑term trading perspective, most institutional commentary ties the August 13, 2026 Pre‑Mkt release to three validation points: whether revenue lands near the 67.97 million US dollars consensus; whether adjusted EPS progresses in line with the forecasted 11.56% year‑over‑year improvement; and whether management provides incremental transparency on delivery schedules for the 190.80 million US dollars Q3‑scheduled order and the additional order exceeding 50.00 million US dollars announced on August 6, 2026. Clarity on these items can sustain the constructive narrative into the second half, even as consensus still models negative EBIT in the near term due to growth investments and integration costs.
Overall, the majority view emphasizes execution against a rapidly expanding order book and the translation of strategic acquisitions into a coherent, scalable operating framework. Given the magnitude of year‑over‑year revenue growth embedded in this quarter’s 1211.05% consensus estimate, investor attention will center on the bridge between booked awards and recognized revenue, the quality of margin progression relative to the 49.20% baseline last quarter, and the specifics of management’s outlook for the remainder of 2026.
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