Why Ondas Stock Surged Today
Key Points
Demand for autonomous defense platforms is soaring.
Ondas is well-positioned to benefit from the global trend toward unmanned systems.
- 10 stocks we like better than Ondas ›
Shares of Ondas (NASDAQ: ONDS) rocketed higher on Thursday after the defense technology provider reported staggering sales growth.
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A torrid pace of expansion
Ondas' revenue rose more than 10-fold year over year to $50.1 million in the first quarter. The 1,065% gains were fueled by strong sales of the company's counter-drone systems.
"Recent global developments continue to underscore the urgency driving accelerated adoption of our solutions, reinforcing our long-term thesis and validating the strategic actions we have taken to position the company for a multi-decade growth cycle," CEO Eric Brock said.
Acquisitions and partnerships are accelerating growth
Ondas acquired U.S. defense contractor Mistral and sensor specialist World View Enterprises in April. These and other acquisitions are helping Ondas expand into fast-growing markets such as stratospheric intelligence, surveillance, and reconnaissance (ISR), border security, robotics, loitering munitions, and counter-missile defense systems.
Ondas also partnered with artificial intelligence (AI) leader Palantir Technologies. The two companies are working together to combine Ondas' autonomy technology with Palantir's data analytics tools to create a next-generation intelligence platform that integrates air, ground, and stratospheric capabilities.
The path to profitability
Ondas now sees its full-year revenue rising by 670% to at least $390 million, supported by its $457 million order backlog.
Investors should note that Ondas has not yet achieved sustained profitability. Its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) loss widened to $10.9 million in the first quarter from $7.5 million in the prior-year period.
However, management expects adjusted EBITDA losses to peak in the second quarter and improve through the remainder of the year.
Looking further ahead, Ondas expects to achieve companywide adjusted EBITDA profitability by the first quarter of 2028.
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Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Ondas and Palantir Technologies. The Motley Fool has a disclosure policy.
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