Ondas Inc. income statement ONDS

Annual Quarterly

In fiscal 2025, which ended Dec 31, 2025, Ondas Inc. reported revenue of $50.7 million, up 605.3% from the year before. It recorded a net loss of $132.2 million. The operating loss came to $58.4 million, an operating margin of -115.1%. Diluted earnings per share were -$0.62. Over the twelve months ended Jun 30, 2026, revenue was $174.1 million. Across the 8 fiscal years shown, revenue grew from $190,029 in fiscal 2018 to $50.7 million in fiscal 2025, about 122.1% a year.

USD in millions, except per-share amounts and margins. The percent under a figure is the change from the year before.

Line	FY 2026 Jun 30, 2026	FY 2025 Dec 31, 2025	FY 2024 Dec 31, 2024	FY 2023 Dec 31, 2023	FY 2022 Dec 31, 2022	FY 2021 Dec 31, 2021	FY 2020 Dec 31, 2020	FY 2019 Dec 31, 2019	FY 2018 Dec 31, 2018	FY 2017 Dec 31, 2017	FY 2016 Dec 31, 2016
Revenue	174 +979.2%	51 +605.3%	7 -54.2%	16 +638.1%	2 -26.9%	3 +34.3%	2 +575.4%	0 +68.6%	0	—	—
Cost of revenue	98 +843.9%	31 +346.5%	7 -26.4%	9 +815.8%	1 -43.9%	2 +46.5%	1 +1462.1%	0 +101.0%	0 +333.9%	0 -27.0%	0
Gross profit	76 +1223.5%	20 +5742.3%	0 -94.6%	6 +475.3%	1 +1.2%	1 +18.1%	1 +284.5%	0 +60.1%	0 -22.6%	0 +2916.7%	-0
Research and development	58 +311.3%	21 +67.4%	12 -27.2%	17 -28.7%	24 +314.5%	6 +61.7%	4 -33.8%	5 +76.1%	3	—	—
Selling, general and administrative	244 +755.9%	58 +156.5%	22 -18.2%	27 +1.4%	27 +104.0%	13 +49.7%	9 -13.1%	10 +85.1%	6	—	—
Operating expenses	—	79 +124.7%	35	—	—	19 +53.1%	12 -20.2%	16 +81.8%	9	—	—
Operating income	-244 -565.4%	-58 -68.7%	-35 +12.9%	-40 +42.8%	-69 -286.3%	-18 -56.0%	-12 +25.0%	-15 -82.2%	-8 -252.3%	-2 -6824.1%	-0
Foreign currency gain (loss)	1 +595.3%	-0 +69.3%	-0 +79.3%	-0	—	—	—	—	—	—	—
Other non-operating income (expense)	450 +534773.4%	0 +155.0%	-0 +88.9%	-0 +95.3%	-4 -13816.7%	0 +101.4%	-2 +51.4%	-4 -9.7%	-4	—	—
Other income (expense)	379	-75 -2092.7%	-3	—	—	—	—	—	—	—	—
Pretax income	135	-133 -249.7%	-38 +15.2%	-45 +38.8%	-73 -308.1%	-18 -33.2%	-13 +30.5%	-19 -60.3%	-12	—	—
Income tax	—	0	—	—	—	-3	—	—	—	—	—
Net income	—	-132 -247.9%	-38 +15.2%	-45 +38.8%	-73 -387.5%	-15 -11.5%	-13 +30.5%	-19 -60.3%	-12 -300.3%	-3 -8639.8%	-0
Net income to common	163 +429.5%	-137 -223.4%	-42 +8.5%	-46 +36.7%	-73 -387.5%	-15	—	—	—	—	—
Basic EPS	0.96 +160.1%	-0.62 -1.6%	-0.61 +30.7%	-0.88 +49.1%	-1.73	—	—	—	—	—	—
Diluted EPS	0.91 +157.1%	-0.62 -1.6%	-0.61 +30.7%	-0.88 +49.1%	-1.73	—	—	—	—	—	—
Weighted average shares, basic	171 +448.2%	0 +217.2%	0 -99.9%	53 +24.9%	42	—	—	—	—	—	—
Weighted average shares, diluted	180 +477.2%	0 +217.2%	0 -99.9%	53 +24.9%	42	—	—	—	—	—	—
Other measures
Depreciation and amortization	2	1	—	5 -34.0%	8 +400.2%	2 +1447.3%	0 -31.9%	0 +161.1%	0	—	—
EBITDA	-242	-57	—	-35 +43.8%	-62 -275.8%	-16 -44.1%	-11 +25.0%	-15 -81.7%	-8	—	—
Interest coverage	-96.81x	-8.88x	-9.56x	—	—	—	—	—	—	—	—
Margins
Gross margin	43.72%	39.73%	4.80%	40.67%	52.18%	37.70%	42.87%	75.30%	79.28%	—	—
Operating margin	-140.40%	-115.09%	-481.15%	-253.19%	-3,266.02%	-618.34%	-532.60%	-4,797.99%	-4,439.08%	—	—
Pretax margin	77.39%	-261.95%	-528.39%	-285.79%	-3,445.35%	-617.38%	-622.90%	-6,052.17%	-6,365.80%	—	—
Profit margin	—	-260.66%	-528.39%	-285.79%	-3,445.35%	-516.86%	-622.90%	-6,052.17%	-6,365.80%	—	—
EBITDA margin	-139.15%	-113.22%	—	-221.38%	-2,910.13%	-566.30%	-528.08%	-4,753.21%	-4,410.16%	—	—

How these figures are calculated

Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and margins. Weighted average shares are in millions. Interest expense and finance costs are positive costs. A negative amount on a gain (loss) or income (expense) line is a loss or an expense. EBITDA is operating income plus depreciation and amortization. Interest coverage is operating income divided by interest expense. The first column is the trailing twelve months through the latest quarter. More on our methodology.

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Company profile

Industry: Radio & Tv Broadcasting & Communications Equipment (SIC 3663)
Listed as: ONDS (Nasdaq)
Fiscal year ends: December 31
Incorporated in: NV
Headquarters: West Palm Beach, FL
SEC filer status: Non-accelerated filer, Smaller reporting company
SEC CIK: 1646188
Former names: Ondas Holdings Inc. (until Jan 12, 2026); ZEV VENTURES INC. (until Oct 5, 2018)

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Source: SEC EDGAR filings. This is company-reported data, not investment advice.