Filing Flows › Ondas (ONDS) › Q4 2025
Ondas (ONDS) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 30, 2026
Ondas (ONDS) reported revenue of $30.1M for the fourth quarter 2025 (Q4 2025), +629% from a year earlier and +198% from the quarter before. Operating margin was -77.4%, net loss $99.9M (331.7% of revenue).
Ondas, Q4 2025: revenue $30.1M (+629% year over year), operating margin -77.4%, net loss $99.9M, operating cash flow −$12.7M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $30.1M | +198% | +629% |
| Operating profit | −$23.3M | — | — |
| Net earnings | −$99.9M | — | — |
| Operating cash flow | −$12.7M | — | — |
What changed
Revenue was $30.1M in Q4 2025, up 629% year over year and up 198% from the previous quarter.
Gross margin was 42.3%, up 20.9 points from Q4 2024. Operating costs exceeded revenue by $23.3M, an operating margin of -77.4%. Operating expenses grew 283% against revenue growth of 629%. The fastest-growing cost line was General & admin (+341%). The quarter ended with a net loss of $99.9M, wider than the previous quarter's $7.5M loss. Net interest and other expense of $76.4M was the main reason.
Operating cash flow was −$12.7M. Non-cash charges added back $3.0M of depreciation and amortization and $6.8M of share-based compensation. Working capital and other items added $77.3M. Capital expenditures of $1.6M exceeded it, leaving free cash flow of −$14.3M.
Questions
What was Ondas' revenue in the fourth quarter 2025?
Ondas (ONDS) reported revenue of $30.1M for the fourth quarter 2025 (Q4 2025), +629% from a year earlier and +198% from the quarter before.
Was Ondas profitable in the fourth quarter 2025?
Operating loss was $23.3M (-77.4% of revenue) and net loss $99.9M.
Source: Ondas 10-K on SEC EDGAR.