Ondas Inc. (ONDS): one to watch?

Speculative drone/defense growth story with real revenue but deepening cash losses and dilution — too risky to call cheap, not broken enough to call a trap.

👀 WATCH Fundamentals60/100

Fell 22% in 11 trading day(s) — now $7.04

Why ONDS dropped

The stock has been sliding for weeks after a Q2 earnings report where a bigger-than-expected adjusted loss (-$0.19/share vs -$0.10 expected) overshadowed record revenue, then dilution worries from a large stock-funded acquisition (DZYNE) and a new $33M Aran Defense cash deal added pressure, and today's -8% move was part of a broader risk-off selloff hitting all drone stocks (Red Cat also fell) with no new company-specific news.

Fwd P/E -352.0Op margin -166.3%Rev growth 1235.4%Debt/equity 2.6%Analyst upside 175.8%

How this scored 60/100

✅ Passes all 4 hard checks — profitable, cash-generative, and financially survivable.

✅ Makes money Net profit margin 96.2%

✅ Generates cash Free cash flow $-69M

✅ Not drowning in debt Debt/equity 2.6% (limit 200%)

✅ Can pay its bills Current ratio 9.8 (needs 1+)

Bar length shows how much each metric is worth — a 10-point metric is twice as wide as a 5-point one. Hover any row for what it means.

Profitability Does it actually make money? 14/25

Operating margin -166.3% 0/9

Net profit margin 96.2% 8/8

Return on equity 19.3% 6/8

Growth Is it getting bigger, or dying? 19/25

Revenue growth 1235.4% 9/9

Earnings growth unknown 2/8

Expected profit change 33.3% 8/8

Value Is it cheap right now? 9/25

Forward P/E -352.0 0/10

PEG ratio unknown 2/8

Analyst target upside 175.8% 7/7

Balance sheet Will it survive? 18/25

Debt / equity 2.6% 10/10

Current ratio 9.8 8/8

Free cash flow $-69M 0/7

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Analysis generated by SmartStonks's AI from public fundamentals and news, first flagged 2026-09-02. Research only — not financial advice.