Financial Statements — ONDS
Balance Sheet
(in billions USD)| Metric | Q2
2026 | Q1
2026 | Q3
2025 | Q2
2025 | Q1
2025 | Q3
2024 | Q2
2024 | Q1
2024 | Q3
2023 | Q2
2023 | Q1
2023 | Q3
2022 | Q2
2022 | Q1
2022 | Q3
2021 | Q2
2021 | Q1
2021 |
|---|
| Cash & Equivalents | 0.66 | 1.03 | 0.43 | 0.07 | 0.03 | 0.00 | 0.00 | 0.01 | 0.02 | 0.00 | 0.01 | 0.02 | 0.03 | 0.03 | 0.05 | 0.06 | 0.02 |
| Short-term Investments | 0.73 | 0.45 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Accounts Receivable | 0.07 | 0.05 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -- | 0.00 | 0.00 |
| Inventory | 0.05 | 0.03 | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Current Assets | 1.61 | 1.63 | 0.48 | 0.09 | 0.04 | 0.02 | 0.02 | 0.02 | 0.03 | 0.01 | 0.02 | 0.02 | 0.03 | 0.04 | 0.05 | 0.06 | 0.03 |
| Property, Plant & Equipment | 0.02 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Goodwill | 0.66 | 0.38 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.05 | 0.05 | 0.05 | 0.03 | -- | -- |
| Intangible Assets | 0.58 | 0.31 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.02 | 0.05 | -- | -- |
| Total Non-current Assets* | 1.39 | 0.81 | 0.07 | 0.06 | 0.06 | 0.06 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.08 | 0.08 | 0.00 | 0.08 | 0.00 | 0.00 |
| Total Assets | 2.99 | 2.44 | 0.55 | 0.15 | 0.10 | 0.08 | 0.08 | 0.09 | 0.10 | 0.08 | 0.09 | 0.10 | 0.11 | 0.11 | 0.13 | 0.06 | 0.03 |
| Accounts Payable | 0.08 | 0.07 | 0.01 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Short-term Debt | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.00 | 0.00 | 0.01 |
| Total Current Liabilities | 0.16 | 0.15 | 0.03 | 0.03 | 0.05 | 0.04 | 0.04 | 0.04 | 0.04 | 0.03 | 0.02 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | 0.01 |
| Long-term Debt | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.00 | 0.00 | 0.00 |
| Total Non-current Liabilities* | 1.25 | 1.21 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 |
| Total Liabilities | 1.42 | 1.36 | 0.04 | 0.04 | 0.06 | 0.05 | 0.05 | 0.05 | 0.04 | 0.04 | 0.04 | 0.01 | 0.01 | 0.01 | 0.02 | 0.01 | 0.01 |
| Retained Earnings | (0.09) | (0.01) | (0.27) | (0.26) | (0.25) | (0.23) | (0.22) | (0.21) | (0.18) | (0.18) | (0.17) | (0.12) | (0.10) | (0.09) | (0.08) | (0.07) | (0.07) |
| Total Stockholder Equity | 1.57 | 1.07 | 0.49 | 0.09 | 0.03 | 0.01 | 0.02 | 0.03 | 0.05 | 0.05 | 0.05 | 0.09 | 0.11 | 0.10 | 0.11 | 0.06 | 0.01 |
* Derived from reported values
Income Statement
(in millions USD) (except per-share rows)| Metric | Q2
2026 | Q1
2026 | Q4
2025 | Q3
2025 | Q2
2025 | Q1
2025 | Q4
2024 | Q3
2024 | Q2
2024 | Q1
2024 | Q4
2023 | Q3
2023 | Q2
2023 | Q1
2023 | Q4
2022 | Q3
2022 | Q2
2022 | Q1
2022 | Q4
2021 | Q3
2021 |
|---|
| Total Revenue | 83.77 | 50.12 | 30.11 | 10.10 | 6.27 | 4.25 | 4.13 | 1.48 | 0.96 | 0.63 | 4.96 | 2.67 | 5.47 | 2.60 | 0.48 | 0.63 | 0.60 | 0.41 | 0.57 | 0.28 |
| Cost of Revenue | 47.64 | 25.46 | 17.38 | 7.49 | 2.94 | 2.76 | 3.25 | 1.43 | 1.15 | 1.02 | 3.23 | 2.11 | 2.40 | 1.57 | 0.21 | 0.23 | 0.29 | 0.29 | 0.41 | 0.27 |
| Gross Profit | 36.13 | 24.66 | 12.73 | 2.60 | 3.33 | 1.49 | 0.88 | 0.05 | (0.19) | (0.39) | 1.73 | 0.55 | 3.07 | 1.03 | 0.27 | 0.40 | 0.32 | 0.12 | 0.17 | 0.01 |
| Research & Development | 30.95 | 13.52 | 8.67 | 4.51 | 4.24 | 3.46 | 3.14 | 3.18 | 2.64 | 3.51 | 2.96 | 2.70 | 4.51 | 6.97 | 9.47 | 5.79 | 4.87 | 3.91 | 2.37 | 1.78 |
| Selling, General & Admin | 128.01 | 43.32 | 21.89 | 10.60 | 6.08 | 5.91 | 4.96 | 4.11 | 4.16 | 3.90 | 8.21 | 2.56 | 5.32 | 5.47 | 4.64 | 7.36 | 6.09 | 5.52 | 4.16 | 2.72 |
| Total Operating Expenses | 199.08 | 67.33 | 36.05 | 18.11 | 12.58 | 11.80 | 9.40 | 8.71 | 8.11 | 8.73 | 14.37 | 6.49 | 11.57 | 13.68 | 34.79 | 13.95 | 11.69 | 10.11 | 7.21 | 4.93 |
| Operating Income | (162.95) | (42.67) | (23.32) | (15.50) | (9.25) | (10.31) | (8.52) | (8.66) | (8.30) | (9.13) | (12.65) | (5.93) | (8.50) | (12.65) | (34.52) | (13.55) | (11.37) | (9.99) | (7.04) | (4.91) |
| Interest Expense | -- | -- | -- | -- | -- | -- | -- | 0.87 | 0.70 | 0.78 | 0.92 | 0.89 | 0.54 | 1.80 | 3.73 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 |
| Pretax Income | (118.75) | 361.50 | (100.83) | (7.17) | (10.75) | (14.14) | (10.34) | (9.53) | -- | (9.88) | -- | -- | -- | (14.46) | -- | -- | -- | (10.01) | (7.07) | (4.91) |
| Tax Provision | (29.05) | 0.25 | 0.18 | 0.31 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Net Income | (88.39) | 362.80 | (99.87) | (7.48) | (10.75) | (14.14) | (10.34) | (9.53) | (8.27) | (9.88) | (14.14) | (7.29) | (8.96) | (14.46) | (38.26) | (13.58) | (11.39) | (10.01) | (4.15) | (4.91) |
| Basic EPS | (0.18) | 0.58 | (0.36) | (0.03) | (0.08) | (0.15) | (0.15) | (0.15) | (0.14) | (0.17) | (0.25) | (0.15) | (0.18) | (0.30) | (0.90) | (0.32) | (0.27) | (0.24) | -- | -- |
| Diluted EPS | (0.19) | 0.56 | (0.36) | (0.03) | (0.08) | (0.15) | (0.15) | (0.15) | (0.14) | (0.17) | (0.26) | (0.14) | (0.18) | (0.30) | (0.90) | (0.32) | (0.27) | -- | -- | -- |
Cash Flow Statement
(in millions USD)| Metric | Q2
2026 | Q1
2026 | Q4
2025 | Q3
2025 | Q2
2025 | Q1
2025 | Q4
2024 | Q3
2024 | Q2
2024 | Q1
2024 | Q4
2023 | Q3
2023 | Q2
2023 | Q1
2023 | Q4
2022 | Q3
2022 | Q2
2022 | Q1
2022 | Q4
2021 | Q3
2021 |
|---|
| Operating Cash Flow | (86.08) | (51.30) | (12.73) | (10.95) | (8.40) | (6.66) | (8.11) | (9.09) | (8.82) | (7.46) | (5.91) | (6.24) | (9.13) | (12.74) | (11.76) | (10.90) | (8.20) | (7.10) | (5.27) | (4.53) |
| Capital Expenditures | 7.76 | 1.33 | 1.60 | 0.17 | 0.10 | 0.17 | 0.03 | (0.68) | 1.09 | 1.19 | 0.12 | 0.03 | (0.07) | 0.14 | (0.64) | 0.91 | 2.61 | -- | 0.84 | 0.01 |
| Free Cash Flow* | (93.84) | (52.63) | (14.33) | (11.13) | (8.50) | (6.83) | (8.14) | (8.41) | (9.91) | (8.64) | (6.03) | (6.27) | (9.06) | (12.87) | (11.12) | (11.81) | (10.81) | -- | (6.12) | (4.54) |
| Investing Cash Flow | (288.89) | (474.17) | (241.39) | (18.44) | (0.11) | (0.20) | (0.07) | 0.66 | (1.10) | (1.21) | (0.11) | (0.05) | (0.17) | 0.86 | (1.44) | (1.96) | (1.98) | (1.56) | (1.53) | (6.52) |
| Financing Cash Flow | 2.94 | 968.47 | 414.50 | 394.23 | 51.66 | 2.26 | 35.31 | 6.33 | 0.31 | 8.24 | 0.03 | 24.20 | (1.76) | (3.74) | 27.69 | 0.13 | 6.13 | (0.09) | 0.12 | -0.00 |
* Derived from reported values
