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Ondas Inc.

ONDS Clue Score46
United States Fiscal year ends December CIK 0001646188
$6.73 -1.75% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $6.73 −33.82% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 25 Oct 2018. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Operating income−0.0Net income−0.0Fiscal year 2017Revenue0.3Operating income−2.4Net income−3.0Fiscal year 2018Revenue0.2 −30.7%Operating income−8.4Net income−12.1Fiscal year 2019Revenue0.3 +68.6%Operating income−15.4Net income−19.4Fiscal year 2020Revenue2.2 +575.4%Operating income−11.5Net income−13.5Fiscal year 2021Revenue2.9 +34.3%Operating income−18.0Net income−15.0EPS, diluted−0.44Fiscal year 2022Revenue2.1 −26.9%Operating income−69.4Net income−73.2EPS, diluted−1.73Fiscal year 2023Revenue15.7 +638.1%Operating income−39.7Net income−44.8EPS, diluted−0.88Fiscal year 2024Revenue7.2 −54.2%Operating income−34.6Net income−38.0EPS, diluted−0.61Fiscal year 2025Revenue50.7 +605.3%Operating income−58.4Net income−132.2EPS, diluted−0.62
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue n/a 0.3 0.2 0.3 2.2 2.9 2.1 15.7 7.2 50.7
Growth −30.7% +68.6% +575.4% +34.3% −26.9% +638.1% −54.2% +605.3%
Operating income −0.0 −2.4 −8.4 −15.4 −11.5 −18.0 −69.4 −39.7 −34.6 −58.4
Net income −0.0 −3.0 −12.1 −19.4 −13.5 −15.0 −73.2 −44.8 −38.0 −132.2
Growth
EPS, diluted n/a n/a n/a n/a n/a −0.44 −1.73 −0.88 −0.61 −0.62

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Fiscal year 2017Gross margin70.9%Operating margin−872.6%Net margin−1,101.4%Fiscal year 2018Gross margin79.3%Operating margin−4,439.1%Net margin−6,365.8%Free cash flow margin−4,768.5%Fiscal year 2019Gross margin75.3%Operating margin−4,798.0%Net margin−6,052.2%Free cash flow margin−4,601.5%Fiscal year 2020Gross margin42.9%Operating margin−532.6%Net margin−622.9%Free cash flow margin−348.6%Fiscal year 2021Gross margin37.7%Operating margin−618.3%Net margin−516.9%Free cash flow margin−613.0%Fiscal year 2022Gross margin52.2%Operating margin−3,266.0%Net margin−3,445.3%Free cash flow margin−1,921.3%Fiscal year 2023Gross margin40.7%Operating margin−253.2%Net margin−285.8%Free cash flow margin−218.1%Fiscal year 2024Gross margin4.8%Operating margin−481.1%Net margin−528.4%Free cash flow margin−488.0%Fiscal year 2025Gross margin39.7%Operating margin−115.1%Net margin−260.7%Free cash flow margin−80.4%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin n/a 70.9% 79.3% 75.3% 42.9% 37.7% 52.2% 40.7% 4.8% 39.7%
Operating margin n/a −872.6% −4,439.1% −4,798.0% −532.6% −618.3% −3,266.0% −253.2% −481.1% −115.1%
Net margin n/a −1,101.4% −6,365.8% −6,052.2% −622.9% −516.9% −3,445.3% −285.8% −528.4% −260.7%
Free cash flow margin n/a n/a −4,768.5% −4,601.5% −348.6% −613.0% −1,921.3% −218.1% −488.0% −80.4%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow−0.0Fiscal year 2017Operating cash flow−2.6Fiscal year 2018Operating cash flow−8.5Capital expenditure−0.5Free cash flow−9.1Fiscal year 2019Operating cash flow−14.7Capital expenditure−0.1Free cash flow−14.7Fiscal year 2020Operating cash flow−7.5Capital expenditure−0.0Free cash flow−7.5Fiscal year 2021Operating cash flow−16.9Capital expenditure−0.9Free cash flow−17.8Fiscal year 2022Operating cash flow−38.0Capital expenditure−2.9Free cash flow−40.8Fiscal year 2023Operating cash flow−34.0Capital expenditure−0.2Free cash flow−34.2Fiscal year 2024Operating cash flow−33.5Capital expenditure−1.6Free cash flow−35.1Fiscal year 2025Operating cash flow−38.7Capital expenditure−2.0Free cash flow−40.8
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −0.0 −2.6 −8.5 −14.7 −7.5 −16.9 −38.0 −34.0 −33.5 −38.7
Capital expenditure n/a n/a −0.5 −0.1 −0.0 −0.9 −2.9 −0.2 −1.6 −2.0
Free cash flow n/a n/a −9.1 −14.7 −7.5 −17.8 −40.8 −34.2 −35.1 −40.8
Growth

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash0.0Shareholders’ equity−4.9Fiscal year 2017Cash0.5Shareholders’ equity−7.9Fiscal year 2018Cash1.1Shareholders’ equity−14.9Fiscal year 2019Cash2.2Total debt0.5Net cash (debt)1.7Shareholders’ equity−12.4Fiscal year 2020Cash26.1Total debt0.9Net cash (debt)25.2Shareholders’ equity15.1Debt to equity0.06Fiscal year 2021Cash40.8Total debt0.3Net cash (debt)40.5Shareholders’ equity112.2Debt to equity0.00Fiscal year 2022Cash29.8Shareholders’ equity58.2Fiscal year 2023Cash15.0Shareholders’ equity33.1Fiscal year 2024Cash30.0Total debt0.3Net cash (debt)29.7Shareholders’ equity16.6Debt to equity0.02Fiscal year 2025Cash550.7Shareholders’ equity437.8
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.0 0.5 1.1 2.2 26.1 40.8 29.8 15.0 30.0 550.7
Total debt n/a n/a n/a 0.5 0.9 0.3 n/a n/a 0.3 n/a
Net cash (debt) n/a n/a n/a 1.7 25.2 40.5 n/a n/a 29.7 n/a
Shareholders’ equity −4.9 −7.9 −14.9 −12.4 15.1 112.2 58.2 33.1 16.6 437.8
Debt to equity n/a n/a n/a n/a 0.06 0.00 n/a n/a 0.02 n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024† 31 Dec 2024 FY2025† 31 Dec 2025
Revenue and profit
n/a 0.3 0.2 0.3 2.2 2.9 2.1 15.7 7.2 50.7
Growth −30.7% +68.6% +575.4% +34.3% −26.9% +638.1% −54.2% +605.3%
n/a 0.1 0.0 0.1 1.2 1.8 1.0 9.3 6.8 30.6
−0.0 0.2 0.2 0.2 0.9 1.1 1.1 6.4 0.3 20.2
Growth −22.6% +60.1% +284.5% +18.1% +1.2% +475.3% −94.6% +5,742.3%
n/a 1.0 3.1 5.4 3.6 5.8 24.0 17.1 12.5 20.9
n/a 1.1 2.6 4.8 7.6 11.8 23.6 21.6 17.1 44.5
−0.0 −2.4 −8.4 −15.4 −11.5 −18.0 −69.4 −39.7 −34.6 −58.4
Growth
n/a −3.0 −12.1 −19.4 −13.5 −17.9 −73.2 −44.8 −38.0 −132.9
n/a n/a n/a n/a n/a −2.9 n/a n/a n/a 0.5
−0.0 −3.0 −12.1 −19.4 −13.5 −15.0 −73.2 −44.8 −38.0 −132.2
Growth
Per share
n/a n/a n/a n/a n/a −0.44 −1.73 −0.88 −0.61 −0.62
n/a n/a n/a n/a n/a −0.44 −1.73 −0.88 −0.61 −0.62
Growth
n/a n/a n/a n/a n/a 34.2 42.2 52.7 0.1 0.2
n/a n/a n/a n/a n/a 34.2 42.2 52.7 0.1 0.2
Growth +23.6% +24.9% −99.9% +217.2%

† The diluted share count jumps at 2024 and 2025, so per-share figures either side of that column are not comparable. Usually a split, but the break lands on the restatement boundary rather than on the split date, because every column is that period’s latest filing.

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 87.9% a year over five years.
  • Operating margin is up 417.5 points on five years ago, at -115.1%.
  • A net loss in 10 of 10 years on file.