Filing Flows › Ondas (ONDS) › Q1 2026 › vs Q1 2025
Ondas (ONDS) Q1 2026 vs Q1 2025 (year over year)
Ondas's revenue rose $45.9M (12×) from $4.2M in Q1 2025 to $50.1M in Q1 2026. The biggest changes: Product Revenue +$35.1M (12×); Service Revenue +$8.5M (12×); Development Revenue +$2.2M (11×).
Ondas, Q1 2026: revenue $50.1M (12× year over year), operating margin -85.1%, net earnings $361M, operating cash flow −$51.3M. The chart draws each line against Q1 2025, the increases inside each band.
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| Product Revenue | $38.4M | $3.2M | $35.1M | 12× |
| Service Revenue | $9.3M | $809K | $8.5M | 12× |
| Development Revenue | $2.4M | $215K | $2.2M | 11× |
| Revenue | $50.1M | $4.2M | $45.9M | 12× |
| Other income, net | $404M | −$3.8M | $408M | — |
| Costs & expenses | $454M | $18.4M | $436M | 25× |
| Operating costs | $92.8M | $14.6M | $78.2M | +537% |
| Income tax | $245K | $0 | $245K | — |
| Net earnings | $361M | −$14.1M | $375M | — |
| Cost of revenue | $25.5M | $2.8M | $22.7M | +823% |
| Research & development | $13.5M | $3.5M | $10.1M | +291% |
| Sales & marketing | $10.5M | $2.4M | $8.1M | +332% |
| General & admin | $43.3M | $5.9M | $37.4M | +633% |
| Operating cash sources | $438M | −$4.7M | $443M | — |
| Depreciation & amortization | $6.3M | $1.2M | $5.0M | +406% |
| Share-based compensation | $19.7M | $1.6M | $18.1M | 12× |
| Cash used in operations | $51.3M | $6.7M | $44.6M | +670% |
| Working capital & other | $438M | −$4.7M | $443M | — |
Questions
How much did Ondas's revenue grow year over year in Q1 2026?
Ondas's revenue rose $45.9M (12×) from $4.2M in Q1 2025 to $50.1M in Q1 2026.
What drove Ondas's revenue change in Q1 2026?
Product Revenue +$35.1M (12×); Service Revenue +$8.5M (12×); Development Revenue +$2.2M (11×).