Ondas posted second-quarter 2026 revenue of $83.8 million, up from $50.1 million in the first quarter and $6.3 million a year earlier. That was a 67% sequential jump and more than a 13-fold increase from the second quarter of 2025.
Gross profit rose to $36.1 million from $24.7 million in the first quarter and $3.3 million in the year-earlier period. Gross margin, however, fell to 43.1% from 49.2% in the first quarter and 53.1% in the second quarter of 2025.
Adjusted gross profit increased to $42.3 million from $25.8 million in the first quarter, with adjusted gross margin at 50.4%, down from 51.5%.
The company said it captured about $175 million in new orders during the second quarter. By Aug. 10, it had added another $105 million in orders in the third quarter.
Backlog reached about $613 million at June 30, up from $457 million on a pro forma basis at the end of the first quarter and $68 million at year-end 2025. Including the DZYNE Technologies and Cyberhawk acquisitions, which closed in the third quarter, pro forma backlog was about $757 million.
Ondas ended the quarter with $1.4 billion in cash, cash equivalents, restricted cash and short-term investments.
The company raised its full-year 2026 revenue target to $525 million to $550 million, up from its prior outlook. Today the company's shares have moved -4.22% to a price of $9.3574. Check out the company's full 8-K submission here.
