Ondas Raises 2026 Revenue Forecast to $390M as Backlog Soars to $457M
Ondas raised 2026 revenue outlook to at least $390 million after first-quarter sales jumped to $50.1 million from $4.3 million, driven by ten-fold surge in counter-UAS and defense robotics demand. Pro forma backlog expanded to $457 million after Mistral and World View acquisitions, supporting projected 670% growth over 2025.
1. First-Quarter Results
Ondas reported Q1 2026 revenue of $50.1 million, up from $4.3 million a year earlier, driven by counter-UAS, robotics platforms, and defense technology demand. Gross profit rose to $24.7 million, boosting gross margin to 49% from 35%.
2. Backlog Growth and Forecast
Pro forma backlog reached $457 million after closing Mistral and World View deals, providing visibility into future orders. The company raised its full-year 2026 revenue outlook to at least $390 million, implying 670% growth over 2025.
3. Strategic Expansion and Profitability Path
Through acquisitions and partnerships in ISR, loitering munitions, and border security, Ondas is diversifying beyond drone technology. Management aims to leverage operating leverage from rising defense demand to accelerate the path toward profitability.