Ondas Holdings Inc. (ONDS) Income Statement
ONDS 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsONDS revenue and net income
Where ONDS's revenue goes
2025Each bar shows an amount and its share of revenue. ONDS kept −260.2% of revenue as net income.
ONDS profit margins
ONDS growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +605.3% | +187.9% | +87.9% | +157.9% |
| Gross profit | +5,742.3% | +162.9% | +85.1% | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
ONDS quarterly EPS vs estimates
Ondas beat the analyst EPS estimate in 1 of the last 8 quarters. Next report: November 12, 2026 (estimate $-0.13).
ONDS income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $50.7M | $7.2M | $15.7M | $2.1M | $2.9M | $2.2M | $320,383 | $190,029 | $2,846 | $5,512 |
| Cost of revenue | $30.6M | $6.8M | $9.3M | $1.0M | $1.8M | $1.2M | $79,126 | $39,365 | $9,073 | $12,422 |
| Gross profit | $20.2M | $345,000 | $6.4M | $1.1M | $1.1M | $927,668 | $241,257 | $150,664 | −$6,227 | −$6,910 |
| Research & development | $20.9M | $12.5M | $17.1M | $24.0M | $5.8M | $3.6M | $5.4M | $3.1M | $1.0M | $1.4M |
| Sales, general & admin | $57.7M | $22.5M | $27.5M | $27.1M | $13.3M | $8.9M | $10.2M | $5.5M | $38,100 | $27,606 |
| Total operating expenses | $78.5M | $35.0M | $46.1M | $70.5M | $19.1M | $12.5M | $15.6M | $8.6M | $38,436 | $27,670 |
| Operating income | −$58.4M | −$34.6M | −$39.7M | −$69.4M | −$18.0M | −$11.5M | −$15.4M | −$8.4M | −$44,663 | −$34,580 |
| Interest income | $9.1M | $234,930 | $33,266 | $25,542 | $11,578 | $251 | $1,863 | $18,147 | — | — |
| Interest expense | $6.6M | $3.6M | $4.2M | $3.8M | $575,685 | $1.9M | $2.9M | $2.7M | — | — |
| Income before taxes | −$132.9M | −$38.0M | −$44.8M | −$73.2M | −$17.9M | −$13.5M | −$19.4M | −$12.1M | −$44,663 | −$34,580 |
| Income taxes | $488,000 | $4.4M | $1.5M | $19.4M | −$2.9M | $2.0M | $2.9M | −$997,686 | −$14,102 | −$24,147 |
| Net income | −$132.0M | −$38.0M | −$44.8M | −$73.2M | −$15.0M | −$13.5M | −$19.4M | −$12.1M | −$44,663 | −$34,580 |
| EBITDA | −$118.3M | −$28.7M | −$34.6M | −$64.6M | −$15.6M | −$11.1M | −$16.4M | −$9.4M | −$44,663 | −$34,580 |
| EPS (diluted) | −$0.55 | −$0.60 | −$0.88 | −$1.13 | −$0.40 | −$0.66 | −$0.38 | −$0.33 | $0.00 | $0.00 |
| Gross margin | 39.7% | 4.8% | 40.7% | 52.2% | 37.7% | 42.9% | 75.3% | 79.3% | −218.8% | −125.4% |
| Operating margin | −115.1% | −481.1% | −253.2% | −3,266.0% | −618.3% | −532.6% | −4,798.0% | −4,439.1% | −1,569.3% | −627.4% |
| Net margin | −260.2% | −528.4% | −285.8% | −3,445.3% | −516.9% | −622.9% | −6,052.2% | −6,365.8% | −1,569.3% | −627.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $83.8M | $50.1M | $30.1M | $10.1M | $6.3M | $4.2M | $4.1M | $1.5M | $957,851 | $625,009 | $5.0M | $2.7M |
| Cost of revenue | $47.6M | $25.5M | $17.4M | $7.5M | $2.9M | $2.8M | $3.2M | $1.4M | $1.1M | $1.0M | $3.2M | $2.1M |
| Gross profit | $36.1M | $24.7M | $12.7M | $2.6M | $3.3M | $1.5M | $883,500 | $47,560 | −$190,895 | −$394,982 | $1.7M | $554,878 |
| Research & development | $31.0M | $13.5M | $8.7M | $4.5M | $4.2M | $3.5M | $3.1M | $3.2M | $2.6M | $3.5M | $3.0M | $2.7M |
| Sales, general & admin | $148.9M | $53.8M | $27.4M | $13.6M | $8.3M | $8.3M | $6.3M | $5.5M | $5.5M | $5.2M | $9.9M | $3.8M |
| Total operating expenses | $199.1M | $67.3M | $36.1M | $18.1M | $12.6M | $11.8M | $9.4M | $8.7M | $8.1M | $8.7M | $16.1M | $6.5M |
| Operating income | −$162.9M | −$42.7M | −$23.3M | −$15.5M | −$9.2M | −$10.3M | −$8.5M | −$8.7M | −$8.3M | −$9.1M | −$11.1M | −$5.9M |
| Interest income | — | $12.1M | $6.7M | $2.0M | $250,340 | $200,806 | $71,455 | $121,608 | $87,276 | $97,501 | $116,150 | $379 |
| Interest expense | $1.0M | $338,000 | $702,182 | $444,449 | $1.6M | $3.9M | $1.3M | $871,335 | $703,551 | $782,611 | $957,159 | $893,951 |
| Income before taxes | −$118.7M | $361.5M | −$100.8M | −$7.2M | −$10.8M | −$14.1M | −$10.3M | −$9.5M | −$8.3M | −$9.9M | −$14.1M | −$7.3M |
| Income taxes | −$29.1M | $245,000 | $180,544 | $307,456 | $1.3M | $1.2M | — | $1.1M | $1.1M | $3 | — | $474,221 |
| Net income | −$88.2M | $362.9M | −$99.7M | −$7.5M | −$10.8M | −$14.1M | −$10.3M | −$9.5M | −$8.3M | −$9.9M | −$14.1M | −$7.3M |
| EBITDA | −$188.7M | $368.5M | −$96.8M | −$5.2M | −$7.6M | −$8.8M | −$7.9M | −$7.0M | −$6.2M | −$7.7M | — | −$4.9M |
| EPS (diluted) | −$0.14 | −$0.07 | −$0.32 | −$0.01 | −$0.07 | −$0.15 | −$0.14 | −$0.15 | −$0.14 | −$0.17 | −$0.26 | −$0.18 |
| Gross margin | 43.1% | 49.2% | 42.3% | 25.8% | 53.1% | 35.0% | 21.4% | 3.2% | −19.9% | −63.2% | 34.8% | 20.8% |
| Operating margin | −194.5% | −85.1% | −77.4% | −153.5% | −147.4% | −242.7% | −206.3% | −584.9% | −866.9% | −1,460.3% | −224.7% | −222.6% |
| Net margin | −105.3% | 724.1% | −331.0% | −74.0% | −171.4% | −332.8% | −250.3% | −643.3% | −863.4% | −1,580.2% | −285.0% | −273.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in ONDS's financial statements (latest annual report filed March 30, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
ONDS financial results
In fiscal year 2025 (ended December 31, 2025), Ondas reported revenue of $50.7 million, up 605.3% from the year before. It had a net loss of $132.0 million, a net profit margin of −260.2%. Diluted earnings per share came to −$0.55. Over five years revenue grew at an average rate of 87.9% a year.
See the ONDS stock overview for the latest quote and news, or the ONDS chart for price history and technical indicators.
ONDS income statement FAQ
What is Ondas's annual revenue?
Ondas reported total revenue of $50.7 million for fiscal year 2025, which ended on December 31, 2025. That was up 605.3% from $7.2 million the previous year.
Is Ondas profitable?
No. Ondas reported a net loss of $132.0 million in fiscal 2025, a net profit margin of −260.2%; its operating margin was −115.1%.
What is Ondas's gross margin?
Ondas's gross margin was 39.7% in fiscal 2025: for every $100 of revenue, Ondas kept $40 after the direct cost of its products and services.
How much does Ondas spend on research and development?
Ondas spent $20.9 million on research and development in fiscal 2025, 41.2% of revenue.
How fast is Ondas growing?
Revenue grew 87.9% a year on average over the last five fiscal years, from $2.2 million to $50.7 million.
What are Ondas's earnings per share?
Ondas earned $-0.55 per diluted share in fiscal 2025, compared with $-0.60 a year earlier.
When will Ondas report its next earnings?
Ondas is expected to report results for the quarter ending September 30, 2026 on November 12, 2026 before the market opens.
When does Ondas's fiscal year end?
Ondas's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 30, 2026.