Ondas Grew Revenue 10X YoY

Are You Ready For The Next Leg Higher?

By Riley Rosebee

May 15, 2026

Happy Friday folks!

Congrats to my fellow $ONDS longs.

The company reported earnings Thursday morning and the results were out of this world.

The stock soared +26.52% in reaction to the news, closing at its highest price since March 17th.

Is it finally time to run to all-time highs? Place your bets…

What Is Ondas?

I’ve written about Ondas since early-December, but if you’re new here - here’s a refresher on the company.

Ondas builds autonomous machines and the wireless networks that connect them.

Drones that fly themselves. Systems that take hostile drones out of the sky. Ground robots. Near-space balloons. And the radio backbone that ties it all together.

A year ago, Ondas was a wireless networking company with a drone bolt-on. Today, it owns a U.S. defense prime with a direct line to the Army, and runs one of the most vertically integrated platforms in the unmanned domain.

Yesterday’s tape speaks for itself.

Let’s Review The Results

Revenue registered $50.1M, reflecting 10x growth YoY.

Let’s sit with that number a bit. It’s rare.

The last public company to pull off 10x revenue growth in a single year was Moderna in 2021 - with a global pandemic at its back.

But this isn’t a flash in the pan. The company’s backlog surged from $68M at year-end to $457M. 7x in 90 days… How about that!

Management raised full-year 2026 revenue guidance to $390M, representing nearly another 7x YoY growth outlook.

And before you ask, no - this isn’t just a bolted-on acquisitions. Management calls it “the growth double dip.” Companies Ondas has already acquired are accelerating post-acquisition. Sentrycs alone is up +260% in Q1 revenue YoY with $36M in YTD purchase orders.

This business is firing on all cylinders.

The Order Book Is Telling

The backlog isn’t just a number - it’s real programs with significant potential.

$80M for border security demining. $140M in military engineering vehicles. $982M in lethal unmanned systems for the US. $100M in border drones. $300M for NATO’s Eastern Flank.

That’s $1.6B+ in program potential. Real customers. Real contracts. Real defense budgets behind them.

I did listen to the conference call, and one thing caught my attention right in the introduction.

The company opened the call with a custom music video titled, System of Systems.

That’s a first for me. I’ve never seen a company craft its own hype video…

What a time to be alive.

Let The Charts Speak

In yesterday’s session, $ONDS had its biggest single-day gain since November 24, 2025.

Its Total Dollar Volume surged to $2.66B, surpassing its previous TDV top of 2.16B on January 16th.

Here’s the daily chart.

If we zoom out, the stock is on the verge of breaking above its 5+ year IPO base. And Thursday’s earnings catalyst may be exactly what we need to find fresh all-time highs.

Ondas also has a significant short interest - 34.49% - via FinViz.

But why is this relevant?

Individuals who hold a “short” position in the stock are guaranteed future buyers, and as the stock climbs higher, the pressure on these buyers builds.

Stocks with a high short interest have the capacity to squeeze higher in a violent manner.

But the squeeze isn’t the story.

Here’s what I think the market is still missing…

Most folks look at $ONDS and see a drone stock. A momentum trade. A short squeeze setup.

I see the operating layer of an economy that doesn’t fully exist yet - being built in plain sight, in public markets, with $1.48B in cash to deploy.

And here’s the tell. Palantir - the company that previously experienced this notion of being dismissed for years before exploding higher - picked Ondas as its partner for autonomous systems. We’re not talking about a vendor relationship. Palantir is collaborating on Ondas’s M&A roadmap.