Ondas (ONDS) Stock: Should You Buy as Defence Drone Demand Surges?
TLDR
- Ondas reported Q1 2026 revenue of $50.1 million, more than ten times the same quarter last year
- Full-year revenue guidance raised to at least $390 million, representing roughly 670% growth from 2025
- Pro forma backlog hit $457 million, up from $68.3 million at year-end, with $110 million in new Q2 orders
- The company holds approximately $1.48 billion in cash, though much was raised through stock sales
- Wall Street holds a Moderate Buy consensus with an average 12-month price target of $16.75
Ondas Holdings has gone through a rapid transformation, shifting from a small industrial communications company into a defence-drone and autonomous-systems platform. It now operates businesses covering counter-drone technology, unmanned aircraft, ground robots, loitering munitions and infrastructure inspection.
Q1 2026 revenue came in at $50.1 million. That beat the top end of management’s own guidance by 25%. A year ago, the same quarter looked nothing like this.
On the back of that result, management raised its full-year revenue target to at least $390 million. That would be growth of around 670% compared to 2025.
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