Shares of Ondas declined Thursday after the autonomous drone maker and Palantir partner posted a wider-than-expected second-quarter loss, overshadowing a more than 1,200% increase in revenue.
Ondas stock fell 4.2% to $9.36 in premarket trading on Thursday after ending Wednesday up 0.3%. Shares have gained 30% in August but have traded flat for the year.
The West Palm Beach, Fla.,-based provider of artificial intelligence-powered autonomous drone systems posted second-quarter revenue of $83.77 million, increasing 1,236% from $6.27 million a year ago and above Wall Street's call for $68 million.
Ondas is still far away from turning a profit. It reported negative adjusted earnings before interest, taxes, depreciation, and amortization, of $50.6 million, widening substantially from a $5.8 million loss a year ago. Analysts expected an adjusted Ebitda loss of $31.6 million, according to FactSet.
The company said the loss reflects investments in its operating platform and corporate development activities to support "significant revenue expansion in the second half of 2026 and beyond."
To that point, Ondas raised its full-year revenue target to $525 million to $550 million from its previous of guidance for at least $390 million. The analyst consensus calls for full-year revenue totaling $525 million. The company said the decision to raise its 2026 revenue view is based on a backlog of approximately $757 million, up from $68.3 million at the end of 2025.
Ondas also expects adjusted Ebitda losses to decline sequentially in the third quarter and forecasts profitability by the end of 2027.
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