Ondas (ONDS) Stock Surges 23% Following Analyst Upgrade and Strong Q3 Results

TLDR

• Ondas Holdings (ONDS) stock jumped 23.58% week-on-week after Oppenheimer upgraded the stock to “outperform” with a $12 price target, representing 67% upside potential.
• The company reported Q3 revenue of $10.1 million, up 582% year-over-year, driven by strong delivery volumes from Iron Drone and Optimus systems.
• Net loss attributable to shareholders decreased 17.7% to $8.78 million from $10.67 million in the same period last year.
• Ondas raised its full-year revenue guidance to $36 million from $25 million previously.
• The company achieved a 26% gross margin in Q3, which Oppenheimer believes could reach 70% in the coming years.

Ondas Holdings stock climbed 23.58% over the past week. The rally came after investment firm Oppenheimer upgraded the company’s rating.

Ondas Holdings Inc., ONDS

Oppenheimer changed its rating from “perform” to “outperform.” The firm set a price target of $12 per share.

That target represents a 67% upside from Friday’s closing price of $7.18. The upgrade followed strong third-quarter earnings results.

The company reported revenue of $10.1 million for the July to September period. That’s a 582% increase from $1.48 million in the same quarter last year.

Revenue growth came from strong delivery volumes of Iron Drone and Optimus systems. These products serve military and public safety customers.

The recent acquisition of Apeiro Motion also contributed to revenue growth. The deal closed during the second quarter of 2025.

The company’s net loss improved during the quarter. Net loss attributable to shareholders fell 17.7% to $8.78 million.

That compares to a loss of $10.67 million in the same period last year. However, adjusted EBITDA loss increased 23% to $8.76 million from $7.1 million.

Revenue Guidance Increase

Management raised its full-year revenue outlook. The company now expects $36 million in revenue for 2025.

That’s up from the previous guidance of $25 million. The increase reflects continued strong performance from the core OAS business.

Newly acquired businesses since early Q2 2025 also factor into the higher guidance. The company achieved a gross margin of 26% in the third quarter.

Analyst Outlook and Market Position

Oppenheimer analyst Tim Horan sees potential for gross margins to reach 70% over the next few years. The company holds a strong cash position of $840 million on a pro forma basis.

Ondas Autonomous Systems reached an all-time high backlog of $22.2 million. The analyst highlighted the company’s open platform technology.

The platform includes a strong ecosystem of technologies, partners, and programs. Ondas provides combined air and ground protection and monitoring solutions.

The Counter-UAS market is expected to grow from $2.4 billion in 2024 to $10.5 billion by 2027. Shares closed at $6.56 on Thursday before jumping 18% on Friday following the upgrade announcement.

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