$ONDS: Sales Hit $83.8 Million; The Loss Still Got Wider

Net loss was $89.7 million. Adjusted EBITDA was a $50.6 million hole. Full-year sales are now $525 million to $550 million.

Record sales, wider loss — scale is not free yet.

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Key Points

Q2 sales $83.8 million vs about $68 million expected; +67% sequential
Net loss $89.7 million; adjusted EBITDA loss $50.6 million
Full-year sales raised to $525–$550 million; Q3 $140–$155 million
Backlog $613 million ($757 million pro forma); cash $1.4 billion

What To Watch

Q3 sales against the $140–$155 million range
Whether adjusted EBITDA narrows as deliveries ramp
Stock-based pay and contingent consideration in the next print
Operating-platform breakeven talk versus company-wide 2027

Market Analysis

How the tape may move from the last update’s mark — not from the open, and not the session % already printed.

The tape has the sales beat. It also has a wider hole. From here the name needs third-quarter deliveries against the new range, not another order press release.

Expected Move From Here -6.0% to +4.0% From last update, not from the open

Certainty 63%

Why

Revenue, backlog, and the $89.7 million loss are official. Whether second-half shipments close the EBITDA gap is not.

Related Sources

Ondas Posts Record Q2 2026 Revenue of $83.8 Million on Strong Bookings and Backlog Growth; Raises Full-Year Outlook — Ondas