Ondas Holdings Inc. (NASDAQ:ONDS) continued its remarkable rally on Friday, November 14, 2025, trading up over 16% as investors digested the company’s impressive third quarter 2025 financial results released the previous day. The provider of autonomous drone systems and private wireless solutions delivered record quarterly revenue while significantly narrowing its net loss, signaling strong execution across its Ondas Autonomous Systems (OAS) business unit.
Following Thursday’s 19% surge that saw shares close at $6.56, the stock’s continued momentum reflects growing confidence in the company’s trajectory. With revenues soaring more than six-fold year-over-year and an improved balance sheet bolstered by approximately $855 million raised in 2025, the company has positioned itself for sustained growth in the defense and critical infrastructure markets.
Record Q3 Performance Drives Market Enthusiasm
Ondas Holdings reported record third quarter revenue of $10.1 million, representing a remarkable 582% increase from $1.48 million in the same period last year. This dramatic growth was primarily driven by ongoing deliveries of Iron Drone and Optimus systems to military and public safety customers, complemented by revenue contributions from the recently acquired Apeiro Motion.
The company successfully narrowed its net loss attributable to shareholders by 17.7% to $8.78 million from $10.67 million year-over-year, a significant improvement that included $2 million in interest and dividend income and a $6.9 million unrealized gain on minority equity investments.
The strong quarterly performance prompted management to raise the full-year 2025 revenue outlook to at least $36 million from the previous target of $25 million. The company also established a preliminary 2026 revenue target of at least $110 million, reflecting confidence in its growth trajectory.
Gross profit surged to $2.6 million with a 26% margin, compared to just $0.05 million and a 3% margin in Q3 2024, demonstrating improving operational efficiency as fixed costs are absorbed by rising revenues. OAS backlog reached $22.2 million as of September 30, 2025, providing solid visibility for continued momentum.
Current Stock Performance and Market Positioning
As of 10:58 AM EST on November 14, 2025, ONDS stock was trading at $7.64, up $1.08 or 16.40% for the day, building on the previous session’s gains. The stock has demonstrated extraordinary performance over the past year, with a remarkable 956% one-year return and a 205% year-to-date gain, significantly outpacing the S&P 500’s 13.3% and 14.6% returns over the same periods.
The company’s market capitalization reached approximately $2.88 billion, reflecting growing investor confidence in its autonomous systems strategy and defense technology positioning.
Ondas ended Q3 2025 with $433.4 million in cash and equivalents, compared to just $30 million at year-end 2024, while pro forma cash balances stood at approximately $840.4 million after accounting for the $407 million raised in an October equity offering. This substantial financial cushion, which management believes represents one of the strongest balance sheets in the industry, provides significant capacity for strategic acquisitions and investments.
Analyst sentiment remains positive, with Needham maintaining a Buy rating and raising its price target from $9 to $10, while the average analyst price target sits at $10.14, suggesting further upside potential from current levels.