Ondas raises $1B, exits going concern, posts $361M net income on warrant gains

Filed May 15, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 15, 2025 · ~1 min read

Key Changes

• high

  Going-concern warning removed after $1B equity raise in January 2026; cash jumped from $25M to $1B and working capital swung from $7M deficit to $1.5B surplus.

  MD&A: Liquidity verify on EDGAR →
• high

  Revenue surged 1,080% to $50.1M, driven by acquisitions (Sentry CS contributed $15.8M); gross margin improved 16 points to 51% as product sales offset fixed service costs.

  MD&A: Revenue & Margins verify on EDGAR →
• high

  Net income of $361M includes $389M non-cash warrant liability gain and $52M deconsolidation gain; Adjusted EBITDA remains negative at $(10.9)M, and operating cash outflow widened to $(51.3)M.

  MD&A: Other Income & Cash Flow verify on EDGAR →