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Ondas, Inc. ONDS Operating margin

Operating margin at other companies

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9.2%+3.3pp
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-16.4%-20.9pp
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Kratos Defense & Security SolutionsKTOS
1.7%-0.8pp

Other financials

Income statement

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Revenue$50.1M+1,080%
Gross profit$24.7M+1,557%
Operating income-$42.7M-314%
Net income$362.8M+2,666%
EPS (diluted)$0.56+473%

Balance sheet

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Cash & equivalents$1.0B+3,989%
Total debt$12.5M-64.8%
Total equity$1.1B+4,018%
Total assets$2.4B+2,232%

Cash flow

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Operating cash flow-$51.3M-670%
CapEx$1.3M+679%
Free cash flow-$52.6M-671%

Valuation

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Market cap$4.82B+3,648%
Enterprise value$3.8B+2,507%
P/E19.7×
P/S49.9×+38.0×

Profitability

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Gross margin44.8%+24.2pp
Net margin253.3%+158pp
FCF margin-89.6%-37.2pp

Returns & leverage

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Return on equity44.5%+25.0pp
Debt / equity-1.4×
Current ratio10.9×+10.1×

Where this comes from

Calculated from Ondas, Inc. ’s reported figures.

Based on trailing twelve months.

The official record: Ondas, Inc. ’s 10-Q, filed May 15, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Ondas, Inc. 's operating margin?
Ondas, Inc. (ONDS) reported operating margin of -93.9% in Q1 2026.
How has Ondas, Inc. 's operating margin changed year-over-year?
Ondas, Inc. 's operating margin increased by 71.6% year-over-year, from -330.9% to -93.9%.
What is the long-term trend for Ondas, Inc. 's operating margin?
Over 5 years (2020 to 2025), Ondas, Inc. 's operating margin has grown at a -26.4% compound annual growth rate (CAGR), from -532.6% to -115.1%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.