Ondas Holdings (ONDS) Is Up 35.2% After Q3 Sales Surge and Narrowed Losses Has The Bull Case Changed?

• Earlier this month, Ondas Holdings Inc. reported that third-quarter 2025 sales surged to US$10.1 million from US$1.48 million a year earlier, with narrowed net losses and improved loss per share figures.
• The sales growth was fueled by increased deliveries of its drone and wireless systems, contributions from recent acquisitions, and heightened demand in the autonomous systems market.
• We'll explore how the substantial year-over-year revenue growth influences Ondas Holdings' investment narrative and growth prospects.

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Ondas Holdings Investment Narrative Recap

To own Ondas Holdings, investors need to believe in the company’s potential to scale its autonomous drone and wireless systems through defense and public safety deals, all while managing unprofitability and cash burn. The latest earnings report highlighted a sharp revenue jump and improved per-share losses, addressing the short-term catalyst of accelerated sales growth, but risk remains centered on ongoing high operating expenses and repeated equity raising, which could dilute existing shareholders if revenue does not outpace spending.

One particularly relevant announcement is the recent follow-on equity offering completed in September 2025, which raised US$200 million for expanding operations. This aligns directly with Ondas’ current push to capture large sales opportunities, but also signals that funding future growth continues to depend on raising new capital, underscoring why dilution is such a visible risk in the near term.

However, investors should also be aware that repeated equity offerings could cause...

Read the full narrative on Ondas Holdings (it's free!)

Ondas Holdings' narrative projects $151.6 million revenue and $16.3 million earnings by 2028. This requires 141.1% yearly revenue growth and a $63.2 million earnings increase from current earnings of $-46.9 million.

Uncover how Ondas Holdings' forecasts yield a $9.50 fair value, a 21% upside to its current price.

Exploring Other Perspectives

Simply Wall St Community fair value estimates for Ondas Holdings range from US$0.47 to US$19.18, spanning 13 investor perspectives. While revenue growth remains a key positive, persistent high operating costs raise bigger questions about the sustainability of future gains, prompting you to compare diverse outlooks.

Explore 13 other fair value estimates on Ondas Holdings - why the stock might be worth less than half the current price!

Build Your Own Ondas Holdings Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Ondas Holdings research is our analysis highlighting 3 key rewards and 3 important warning signs that could impact your investment decision.
• Our free Ondas Holdings research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Ondas Holdings' overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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