Is the business good?
How good a business is ONDS?
Ondas Inc. keeps −140% of every revenue dollar as operating profit, against 4.4% for the median Communication Equipment name.
−140%
Operating margin · Communication Equipment median 4.4% · 12 months to Q2 2026
- Cash conversion
- −1.03×
Cash conversion · some of the reported profit has not turned into cash yet
- Share count, year on year
- +234%
Share count, year on year · shareholders own a smaller slice than a year ago
- R&D as % of revenue
- 33%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2020 | −533% |
| FY2021 | −618% |
| FY2022 | −3266% |
| FY2023 | −253% |
| FY2024 | −481% |
| FY2025 | −115% |
Details›
- Gross margin12 months to Q2 2026
- 44%
- Operating margin12 months to Q2 2026
- −140%
- Net margin12 months to Q2 2026
- 96%
- Free cash flow margin
- −99%
- R&D as % of revenue
- 33%
- Revenue, trailing twelve months
- $174M
- Free cash flow, trailing twelve months
- −$172M
- Net income, trailing twelve months
- $167M
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Communication Equipment
Ranks #10 of 21 by Smart Score