---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/39370846.md"
description: "$Ondas(ONDS.US)Ondas Holdings (ONDS) reported explosive revenue growth in 2025, remained unprofitable, saw a massive surge in order backlog, and maintained strong cash flow. The following are the latest preliminary data (as of 2026-03-09, final financial report to be released on March 25): 📊 Core Financials (Preliminary) - Full-year Revenue: $497–507 million, up over 200% YoY, exceeding previous guidance ($476–496 million) - Q4 Revenue: $291–301 million, up over 600% YoY, exceeding guidance ($270–290 million) - Full-year Net Loss: $528–533 million (still unprofitable) - Full-year Adjusted EBITDA: -$324 to -$329 million - Gross Margin: Reached 26% in Q3 (only 3% in Q3 2024), showing significant improvement  🚀 Business & Orders - Order Backlog: $653 million at the end of 2025, up 180% from November ($233 million)- Key Drivers: OAS (drone/autonomous systems), military/border security orders (e.g., $20 million border system, $6 million counter-drone)- M&A: Completed acquisitions including Apeiro Motion within the year, expanding business footprint  💰 Capital & Cash Flow - Cumulative financing of approximately $855 million in 2025, with $432.8 million in cash at the end of September, supporting high growth- 2026 Revenue Guidance: $1.7–1.8 billion (up 249% YoY, mid-point)  In a nutshell: Record revenue, narrowing losses, booming orders, ample cash, strong certainty for high growth."
datetime: "2026-03-19T12:35:36.000Z"
locales:
  - [en](https://longbridge.com/en/topics/39370846.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/39370846.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/39370846.md)
author: "[直头摞辣](https://longbridge.com/en/profiles/20704284.md)"
---

# $Ondas(ONDS.US)Ondas Holdings (ONDS) reported expl…


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- [ONDS.US](https://longbridge.com/en/quote/ONDS.US.md)

## Comments (4)

- **直头摞辣 · 2026-03-19T12:50:48.000Z**: Defense stocks are not afraid of war, let alone the Strait of Hormuz!
- **Karen_F9TevP · 2026-03-19T12:49:52.000Z**: It's contradictory to be losing money while having ample cash flow; I can't make sense of it.
  - **直头摞辣** (2026-03-19T12:51:37.000Z): Secured funding and got the order