Ondas Holdings Inc. (ONDS) 10-Year Financial Performance & Capital Metrics

ONDS • • Industrial / General

TechnologyCommunication EquipmentIoT & M2M CommunicationsIoT Connectivity Platforms

AboutOndas Holdings Inc., through its subsidiaries, provides private wireless, drone, and automated data solutions. The company operates in two segments, Ondas Networks and American Robotics. The company designs, develops, manufactures, sells, and supports FullMAX, a software defined radio (SDR) platform for wide-area broadband networks. Its FullMAX SDR platform enables secure and reliable industrial-grade connectivity for truly mission-critical applications. The company also offers Scout Drone, an AI-powered drone with imaging payloads; the ScoutBase, a ruggedized base station for housing, charging, data processing, and cloud transfer; and ScoutView, an American robotics analytics and user interface software package. It serves users in rail, energy, mining, agriculture, and critical infrastructure markets in the United States and internationally. The company is headquartered in Waltham, Massachusetts.Show more

Revenue $7M -54.2%
EBITDA -$29M +14.1%
Net Income -$38M +15.2%
EPS (Diluted) -0.61 +30.7%
Gross Margin 4.8% -88.2%
EBITDA Margin -402.42% -87.5%
Operating Margin -481.17% -90.0%
Net Margin -528.42% -84.9%
ROE -93.85% -8.1%
ROIC -39.43% +15.8%
Debt/Equity 1.68 +114.2%
Interest Coverage -9.56

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 98 (top 2%)
✓Strong 5Y sales CAGR of 86.3%

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow
✗Shares diluted 32.6% in last year
✗Expensive at 24.9x book value
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y13.57%

5Y86.31%

3Y35.26%

TTM208.4%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-2.1%

EPS CAGR

10Y-

5Y-

3Y-

TTM44.44%

ROCE

10Y Avg-153.43%

5Y Avg-153.43%

3Y Avg-64.78%

Latest-60.05%

Peer Comparison

IoT Connectivity Platforms

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PIImpinj, Inc.	5.17B	171.71	123.53	19.04%	-3.45%	-6.36%	2.15%	1.95
INSGInseego Corp.	179.02M	11.68	116.80	14.32%	-0.12%		18.67%
DGIIDigi International Inc.	1.62B	43.20	40	1.46%	9.48%	6.41%	6.65%	0.27
BOSCB.O.S. Better Online Solutions Ltd.	30.19M	4.88	12.51	-9.57%	6.78%	12.99%	2.57%	0.10
ASNSActelis Networks, Inc.	3.86M	0.48	-0.06	38.42%	-223.94%	-254.3%		0.45
FIEEFiEE, Inc.	22.22M	3.53	-2.63	-97.55%	-56.38%	-28.64%
MOBMobilicom Ltd	83.97M	7.02	-5.32	44.98%	-196.92%	-312.22%		0.06
AIOTPowerFleet, Inc.	756.11M	5.65	-13.14		-10.93%	-9.17%		0.64

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	3.89K	5.51K	2.85K	190.03K	320.38K	2.16M	2.91M	2.13M	15.69M	7.19M
Revenue Growth %	-1%	0.42%	-0.48%	65.77%	0.69%	5.75%	0.34%	-0.27%	6.38%	-0.54%
Cost of Goods Sold+	5.41K	12.42K	9.07K	39.37K	79.13K	1.24M	1.81M	1.02M	9.31M	6.85M
COGS % of Revenue	1.39%	2.25%	3.19%	0.21%	0.25%	0.57%	0.62%	0.48%	0.59%	0.95%
Gross Profit+	-1.52K	-6.91K	-6.23K	150.66K	241.26K	927.67K	1.1M	1.11M	6.38M	345.18K
Gross Margin %	-0.39%	-1.25%	-2.19%	0.79%	0.75%	0.43%	0.38%	0.52%	0.41%	0.05%
Gross Profit Growth %	-1%	-3.55%	0.1%	25.2%	0.6%	2.85%	0.18%	0.01%	4.75%	-0.95%
Operating Expenses+	18.26K	27.67K	38.44K	8.59M	15.61M	12.45M	19.07M	70.54M	46.11M	34.95M
OpEx % of Revenue	4.69%	5.02%	13.51%	45.18%	48.73%	5.75%	6.56%	33.18%	2.94%	4.86%
Selling, General & Admin	18.06K	27.61K	38.1K	5.51M	10.2M	8.87M	13.27M	27.08M	27.47M	22.48M
SG&A % of Revenue	4.64%	5.01%	13.39%	28.99%	31.83%	4.1%	4.56%	12.74%	1.75%	3.13%
Research & Development	1.11M	1.38M	1M	3.08M	5.42M	3.59M	5.8M	24.04M	17.15M	12.48M
R&D % of Revenue	285.75%	250.36%	352.29%	16.19%	16.91%	1.66%	2%	11.31%	1.09%	1.73%
Other Operating Expenses	199	64	336	4.42K	0	0	0	19.42M	1.5M	0
Operating Income+	-19.77K	-34.58K	-44.66K	-8.44M	-15.37M	-11.52M	-17.97M	-69.43M	-39.73M	-34.61M
Operating Margin %	-5.08%	-6.27%	-15.69%	-44.39%	-47.98%	-5.33%	-6.18%	-32.66%	-2.53%	-4.81%
Operating Income Growth %	0.99%	-0.75%	-0.29%	-187.87%	-0.82%	0.25%	-0.56%	-2.86%	0.43%	0.13%
EBITDA+	-474	-15.81K	-31.22K	-8.38M	-15.31M	-11.13M	-16.16M	-64.58M	-33.68M	-28.94M
EBITDA Margin %	-0.12%	-2.87%	-10.97%	-44.1%	-47.78%	-5.14%	-5.56%	-30.38%	-2.15%	-4.02%
EBITDA Growth %	1%	-32.35%	-0.97%	-267.4%	-0.83%	0.27%	-0.45%	-3%	0.48%	0.14%
D&A (Non-Cash Add-back)	19.3K	18.77K	13.44K	55.14K	62.85K	397.95K	1.82M	4.85M	6.05M	5.66M
EBIT	-19.64K	-34.58K	-44.66K	-9.43M	-16.46M	-11.54M	-17.37M	-69.48M	-40.69M	-34.39M
Net Interest Income+	0	0	0	-2.65M	-2.93M	-1.94M	-564.11K	-3.74M	-4.03M	-3.39M
Interest Income	0	0	0	18.15K	1.86K	251	11.58K	25.54K	123.87K	234.93K
Interest Expense	0	0	0	2.66M	2.93M	1.94M	575.68K	3.76M	4.15M	3.62M
Other Income/Expense	-140	0	0	-3.66M	-4.02M	-1.95M	27.79K	-3.81M	-5.12M	-3.4M
Pretax Income+	-19.77K	-34.58K	-44.66K	-12.1M	-19.39M	-13.48M	-17.95M	-73.24M	-44.84M	-38.01M
Pretax Margin %	-5.08%	-6.27%	-15.69%	-63.66%	-60.52%	-6.23%	-6.17%	-34.45%	-2.86%	-5.28%
Income Tax+	0	0	0	0	0	0	-2.92M	0	0	0
Effective Tax Rate %	1%	1%	1%	1%	1%	1%	0.84%	1%	1%	1%
Net Income+	-19.77K	-34.58K	-44.66K	-12.1M	-19.39M	-13.48M	-15.02M	-73.24M	-44.84M	-38.01M
Net Margin %	-5.08%	-6.27%	-15.69%	-63.66%	-60.52%	-6.23%	-5.17%	-34.45%	-2.86%	-5.28%
Net Income Growth %	0.99%	-0.75%	-0.29%	-269.85%	-0.6%	0.3%	-0.11%	-3.88%	0.39%	0.15%
Net Income (Continuing)	-19.77K	-34.58K	-44.66K	-12.1M	-19.39M	-13.48M	-15.02M	-73.24M	-44.84M	-38.01M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	11.92M	19.36M
EPS (Diluted)+	-0.00	-0.00	-0.00	-0.72	-1.27	-0.66	-0.44	-1.73	-0.88	-0.61
EPS Growth %	1%	-	-	-	-0.76%	0.48%	0.33%	-2.93%	0.49%	0.31%
EPS (Basic)	-0.00	-0.00	-0.00	-0.72	-1.27	-0.66	-0.44	-1.73	-0.88	-0.61
Diluted Shares Outstanding	19.2M	19.2M	19.2M	16.82M	17.57M	20.43M	34.18M	42.24M	52.74M	69.92M
Basic Shares Outstanding	19.2M	19.2M	19.2M	16.82M	17.57M	20.43M	34.18M	42.24M	52.74M	69.92M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	8.04K	5.66K	8.13K	2.04M	3.3M	27.89M	44.66M	35.8M	23.61M	47.52M
Cash & Short-Term Investments	5.17K	2.38K	3.41K	1.13M	2.15M	26.06M	40.82M	29.78M	14.98M	29.96M
Cash Only	5.17K	2.38K	3.41K	1.13M	2.15M	26.06M	40.82M	29.78M	14.98M	29.96M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	0	1.82K	649	74.73K	20.21K	47.65K	1.21M	2.1M	4.52M	5.48M
Days Sales Outstanding	-	120.39	83.23	143.55	23.03	8.04	152.34	361.3	105.17	278.16
Inventory	2.87K	1.46K	4.07K	347.94K	427.52K	1.15M	1.18M	2.17M	2.19M	9.82M
Days Inventory Outstanding	193.4	42.9	163.65	3.23K	1.97K	340.21	237.5	780.16	85.73	523.54
Other Current Assets	0	0	0	220.26K	478.81K	0	0	643.38K	441.11K	385.61K
Total Non-Current Assets+	105.06K	0	12.86K	619.79K	962.16K	622.26K	72.78M	62.14M	68.56M	62.1M
Property, Plant & Equipment	45.06K	0	12.86K	502.15K	583.66K	214.15K	1.87M	5.95M	8.88M	6.51M
Fixed Asset Turnover	0.09x	-	0.22x	0.38x	0.55x	10.10x	1.56x	0.36x	1.77x	1.11x
Goodwill	0	0	0	0	0	0	45.03M	25.61M	27.75M	27.75M
Intangible Assets	0	0	0	53.29K	326.34K	379.53K	25.17M	28.86M	31.33M	27.18M
Long-Term Investments	0	0	0	0	0	0	500K	1.5M	0	0
Other Non-Current Assets	60K	0	0	64.36K	52.15K	28.58K	218.21K	218.21K	599.52K	663.07K
Total Assets+	8.04K	5.66K	8.13K	2.66M	4.26M	28.51M	117.44M	97.95M	92.16M	109.62M
Asset Turnover	0.48x	0.97x	0.35x	0.07x	0.08x	0.08x	0.02x	0.02x	0.17x	0.07x
Asset Growth %	-0.99%	-0.3%	0.44%	326.49%	0.6%	5.69%	3.12%	-0.17%	-0.06%	0.19%
Total Current Liabilities+	28.3K	60.5K	85.63K	17.25M	16.06M	12.49M	4.62M	22.73M	35.94M	50.58M
Accounts Payable	2K	8K	8.5K	1.11M	2.32M	2.37M	2.41M	2.97M	5.18M	5.66M
Days Payables Outstanding	134.96	235.07	341.95	10.31K	10.71K	699.32	485.96	1.06K	202.96	301.68
Short-Term Debt	26.3K	52.5K	77.13K	13.95M	10.11M	7.06M	719.31K	15.85M	25.69M	38.36M
Deferred Revenue (Current)	-26.3K	0	-1000K	20.63K	378.85K	165.03K	0	61.51K	797.6K	717.78K
Other Current Liabilities	-26.3K	0	0	20.63K	634.6K	479.71K	512.4K	0	0	0
Current Ratio	0.28x	0.09x	0.09x	0.12x	0.21x	2.23x	9.66x	1.58x	0.66x	0.94x
Quick Ratio	0.18x	0.07x	0.05x	0.10x	0.18x	2.14x	9.40x	1.48x	0.60x	0.75x
Cash Conversion Cycle	-	-71.78	-95.06	-6.94K	-8.72K	-351.07	-96.12	76.67	-12.07	500.02
Total Non-Current Liabilities+	1.65M	0	2.78M	300K	633.61K	942.87K	581.83K	17M	11.17M	23.1M
Long-Term Debt	0	0	0	300K	539.92K	906.54K	300K	14.5M	3.11M	15.87M
Capital Lease Obligations	0	0	0	0	52.45K	0	241.68K	2.46M	5.8M	4.96M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	0	41.24K	36.33K	40.15K	40.97K	26.84K	102.54K
Total Liabilities	28.3K	60.5K	85.63K	17.55M	16.69M	13.43M	5.21M	39.72M	47.11M	73.68M
Total Debt+	26.3K	52.5K	77.13K	14.25M	11.19M	8.03M	1.81M	33.39M	35.29M	60.31M
Net Debt	21.13K	50.12K	73.72K	13.12M	9.04M	-18.03M	-39M	3.61M	20.31M	30.35M
Debt / Equity	-	-	-	-	-	0.53x	0.02x	0.57x	0.78x	1.68x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-	-	-	-3.17x	-5.25x	-5.95x	-31.22x	-18.46x	-9.56x	-9.56x
Total Equity+	-20.26K	-54.84K	-77.51K	-14.88M	-12.43M	15.08M	112.23M	58.22M	45.06M	35.94M
Equity Growth %	0.99%	-1.71%	-0.41%	-191.05%	0.16%	2.21%	6.44%	-0.48%	-0.23%	-0.2%
Book Value per Share	-0.00	-0.00	-0.00	-0.88	-0.71	0.74	3.28	1.38	0.85	0.51
Total Shareholders' Equity	-20.26K	-54.84K	-77.51K	-14.88M	-12.43M	15.08M	112.23M	58.22M	33.14M	16.58M
Common Stock	300	300	576	5.05K	5.93K	2.65K	4.1K	4.41K	6.19K	9.32K
Retained Earnings	-20.56K	-55.14K	-99.81K	-32.38M	-51.77M	-65.25M	-80.27M	-153.52M	-198.36M	-236.37M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	0	0	0	-178.8K	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	11.92M	19.36M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-20.64K	-28.99K	-45.6K	-8.52M	-14.66M	-7.53M	-16.9M	-37.96M	-34.02M	-33.47M
Operating CF Margin %	-5.3%	-5.26%	-16.02%	-44.82%	-45.77%	-3.48%	-5.81%	-17.86%	-2.17%	-4.65%
Operating CF Growth %	0.98%	-0.4%	-0.57%	-185.77%	-0.72%	0.49%	-1.24%	-1.25%	0.1%	0.02%
Net Income	-19.77K	-34.58K	-44.66K	-12.1M	-19.39M	-13.48M	-15.02M	-73.24M	-44.84M	-38.01M
Depreciation & Amortization	19.3K	18.77K	13.44K	55.14K	62.85K	397.95K	1.82M	4.85M	6.05M	5.66M
Stock-Based Compensation	51.18K	253.27K	1.17K	0	938.05K	4.68M	3.25M	5.86M	1.05M	1.27M
Deferred Taxes	0	0	0	0	782.44K	0	-2.92M	0	0	0
Other Non-Cash Items	866	-5.59K	939	1.84M	119.11K	783.34K	-347.34K	23.36M	8.69M	3.17M
Working Capital Changes	-866	5.59K	-939	1.69M	2.82M	85.97K	-3.67M	1.21M	-4.97M	-5.56M
Change in Receivables	20.26K	-1.82K	1.17K	9.33K	10.23K	-27.43K	-1.15M	1.11M	-4.26M	-2.89M
Change in Inventory	-2.87K	1.41K	-2.61K	-174.62K	-79.59K	-297.9K	-126.49K	-994.67K	1.48M	-5.47M
Change in Payables	2K	6K	500	316.17K	1.21M	46K	-86.66K	554.74K	1.24M	1.16M
Cash from Investing+	0	0	0	-629.68K	-354.82K	-16.14K	-10.21M	-6.93M	536.27K	-1.73M
Capital Expenditures	0	0	0	-597.72K	-352.05K	-8.6K	-923.72K	-2.88M	-211.03K	-1.64M
CapEx % of Revenue	-	-	-	3.15%	1.1%	0%	0.32%	1.36%	0.01%	0.23%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	0	-31.96K	-2.77K	-7.54K	-2.27M	-3.05M	-167.15K	-95.28K
Cash from Financing+	24.32K	26.2K	46.63K	9.82M	16.04M	31.46M	41.86M	33.86M	18.73M	50.18M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	0	-155.65K	-67.35K	0	1.46M	64.91K	223.51K	80.16K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-20.64K	-28.99K	-45.6K	-9.11M	-15.02M	-7.57M	-17.92M	-40.89M	-34.3M	-35.2M
FCF Margin %	-5.3%	-5.26%	-16.02%	-47.97%	-46.87%	-3.5%	-6.17%	-19.24%	-2.19%	-4.89%
FCF Growth %	0.98%	-0.4%	-0.57%	-198.88%	-0.65%	0.5%	-1.37%	-1.28%	0.16%	-0.03%
FCF per Share	-0.00	-0.00	-0.00	-0.54	-0.85	-0.37	-0.52	-0.97	-0.65	-0.50
FCF Conversion (FCF/Net Income)	1.04x	0.84x	1.02x	0.70x	0.76x	0.56x	1.12x	0.52x	0.76x	0.88x
Interest Paid	0	0	0	0	0	337.1K	1.04M	14.19K	176.54K	21.8K
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	-	-	-	-	-1015.91%	-23.6%	-85.94%	-86.84%	-93.85%
Return on Invested Capital (ROIC)	-	-	-	-	-	-	-38.36%	-77.11%	-46.85%	-39.43%
Gross Margin	-39.01%	-125.36%	-218.8%	79.28%	75.3%	42.87%	37.7%	52.18%	40.67%	4.8%
Net Margin	-508.22%	-627.36%	-1569.33%	-6365.8%	-6052.17%	-622.9%	-516.86%	-3445.35%	-285.79%	-528.42%
Debt / Equity	-	-	-	-	-	0.53x	0.02x	0.57x	0.78x	1.68x
Interest Coverage	-	-	-	-3.17x	-5.25x	-5.95x	-31.22x	-18.46x	-9.56x	-9.56x
FCF Conversion	1.04x	0.84x	1.02x	0.70x	0.76x	0.56x	1.12x	0.52x	0.76x	0.88x
Revenue Growth	-99.81%	41.66%	-48.37%	6577.06%	68.6%	575.35%	34.34%	-26.87%	638.14%	-54.16%

Revenue by Segment

	2018	2019	2020	2021	2023	2024
DevelopmentRevenueMember	-	-	943.36K	2.4M	-	-
DevelopmentRevenueMember Growth	-	-	-	154.57%	-	-
ProductRevenueMember	-	-	1.15M	405.57K	-	-
ProductRevenueMember Growth	-	-	-	-64.78%	-	-
ServiceRevenueMember	-	-	62.41K	96.93K	-	-
ServiceRevenueMember Growth	-	-	-	55.32%	-	-
OtherRevenueMember	-	-	6.39K	2.79K	-	-
OtherRevenueMember Growth	-	-	-	-56.31%	-	-
Product Revenue	-	212.91K	-	-	-	-
Product Revenue Growth	-	-	-	-	-	-
Service Revenue	-	107.48K	-	-	-	-
Service Revenue Growth	-	-	-	-	-	-
Product	125.66K	-	-	-	-	-
Product Growth	-	-	-	-	-	-
Service	64.36K	-	-	-	-	-
Service Growth	-	-	-	-	-	-

Revenue by Geography

	2018	2019	2020	2021	2023	2024
ISRAEL	-	-	-	-	429.11K	4.28M
ISRAEL Growth	-	-	-	-	-	898.27%
UNITED STATES	-	-	-	-	5.72M	1.83M
UNITED STATES Growth	-	-	-	-	-	-68.05%
UNITED ARAB EMIRATES	-	-	-	-	8.52M	753.16K
UNITED ARAB EMIRATES Growth	-	-	-	-	-	-91.16%
INDIA	-	-	-	-	27.74K	17.56K
INDIA Growth	-	-	-	-	-	-36.69%
AmericanRoboticsMember	-	-	-	66.62K	-	-
AmericanRoboticsMember Growth	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Ondas Holdings Inc. (ONDS) reported $24.7M in revenue for fiscal year 2024. This represents a 1128% increase from $2.0M in 2014.

Ondas Holdings Inc. (ONDS) saw revenue decline by 54.2% over the past year.

Ondas Holdings Inc. (ONDS) reported a net loss of $42.7M for fiscal year 2024.

Dividend & Returns

Ondas Holdings Inc. (ONDS) has a return on equity (ROE) of -93.8%. Negative ROE indicates the company is unprofitable.

Ondas Holdings Inc. (ONDS) had negative free cash flow of $34.7M in fiscal year 2024, likely due to heavy capital investments.

US Stock Screener

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Ondas Holdings Inc. (ONDS) 10-Year Financial Performance & Capital Metrics

ONDS • • Industrial / General

TechnologyCommunication EquipmentIoT & M2M CommunicationsIoT Connectivity Platforms

Revenue $7M -54.2%
EBITDA -$29M +14.1%
Net Income -$38M +15.2%
EPS (Diluted) -0.61 +30.7%
Gross Margin 4.8% -88.2%
EBITDA Margin -402.42% -87.5%
Operating Margin -481.17% -90.0%
Net Margin -528.42% -84.9%
ROE -93.85% -8.1%
ROIC -39.43% +15.8%
Debt/Equity 1.68 +114.2%
Interest Coverage -9.56

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 98 (top 2%)
✓Strong 5Y sales CAGR of 86.3%

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow
✗Shares diluted 32.6% in last year
✗Expensive at 24.9x book value
✗Low asset turnover indicates capital-intensive operations

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y13.57%

5Y86.31%

3Y35.26%

TTM208.4%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-2.1%

EPS CAGR

10Y-

5Y-

3Y-

TTM44.44%

ROCE

10Y Avg-153.43%

5Y Avg-153.43%

3Y Avg-64.78%

Latest-60.05%

Peer Comparison

IoT Connectivity Platforms

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PIImpinj, Inc.	5.17B	171.71	123.53	19.04%	-3.45%	-6.36%	2.15%	1.95
INSGInseego Corp.	179.02M	11.68	116.80	14.32%	-0.12%		18.67%
DGIIDigi International Inc.	1.62B	43.20	40	1.46%	9.48%	6.41%	6.65%	0.27
BOSCB.O.S. Better Online Solutions Ltd.	30.19M	4.88	12.51	-9.57%	6.78%	12.99%	2.57%	0.10
ASNSActelis Networks, Inc.	3.86M	0.48	-0.06	38.42%	-223.94%	-254.3%		0.45
FIEEFiEE, Inc.	22.22M	3.53	-2.63	-97.55%	-56.38%	-28.64%
MOBMobilicom Ltd	83.97M	7.02	-5.32	44.98%	-196.92%	-312.22%		0.06
AIOTPowerFleet, Inc.	756.11M	5.65	-13.14		-10.93%	-9.17%		0.64

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	3.89K	5.51K	2.85K	190.03K	320.38K	2.16M	2.91M	2.13M	15.69M	7.19M
Revenue Growth %	-1%	0.42%	-0.48%	65.77%	0.69%	5.75%	0.34%	-0.27%	6.38%	-0.54%
Cost of Goods Sold+	5.41K	12.42K	9.07K	39.37K	79.13K	1.24M	1.81M	1.02M	9.31M	6.85M
COGS % of Revenue	1.39%	2.25%	3.19%	0.21%	0.25%	0.57%	0.62%	0.48%	0.59%	0.95%
Gross Profit+	-1.52K	-6.91K	-6.23K	150.66K	241.26K	927.67K	1.1M	1.11M	6.38M	345.18K
Gross Margin %	-0.39%	-1.25%	-2.19%	0.79%	0.75%	0.43%	0.38%	0.52%	0.41%	0.05%
Gross Profit Growth %	-1%	-3.55%	0.1%	25.2%	0.6%	2.85%	0.18%	0.01%	4.75%	-0.95%
Operating Expenses+	18.26K	27.67K	38.44K	8.59M	15.61M	12.45M	19.07M	70.54M	46.11M	34.95M
OpEx % of Revenue	4.69%	5.02%	13.51%	45.18%	48.73%	5.75%	6.56%	33.18%	2.94%	4.86%
Selling, General & Admin	18.06K	27.61K	38.1K	5.51M	10.2M	8.87M	13.27M	27.08M	27.47M	22.48M
SG&A % of Revenue	4.64%	5.01%	13.39%	28.99%	31.83%	4.1%	4.56%	12.74%	1.75%	3.13%
Research & Development	1.11M	1.38M	1M	3.08M	5.42M	3.59M	5.8M	24.04M	17.15M	12.48M
R&D % of Revenue	285.75%	250.36%	352.29%	16.19%	16.91%	1.66%	2%	11.31%	1.09%	1.73%
Other Operating Expenses	199	64	336	4.42K	0	0	0	19.42M	1.5M	0
Operating Income+	-19.77K	-34.58K	-44.66K	-8.44M	-15.37M	-11.52M	-17.97M	-69.43M	-39.73M	-34.61M
Operating Margin %	-5.08%	-6.27%	-15.69%	-44.39%	-47.98%	-5.33%	-6.18%	-32.66%	-2.53%	-4.81%
Operating Income Growth %	0.99%	-0.75%	-0.29%	-187.87%	-0.82%	0.25%	-0.56%	-2.86%	0.43%	0.13%
EBITDA+	-474	-15.81K	-31.22K	-8.38M	-15.31M	-11.13M	-16.16M	-64.58M	-33.68M	-28.94M
EBITDA Margin %	-0.12%	-2.87%	-10.97%	-44.1%	-47.78%	-5.14%	-5.56%	-30.38%	-2.15%	-4.02%
EBITDA Growth %	1%	-32.35%	-0.97%	-267.4%	-0.83%	0.27%	-0.45%	-3%	0.48%	0.14%
D&A (Non-Cash Add-back)	19.3K	18.77K	13.44K	55.14K	62.85K	397.95K	1.82M	4.85M	6.05M	5.66M
EBIT	-19.64K	-34.58K	-44.66K	-9.43M	-16.46M	-11.54M	-17.37M	-69.48M	-40.69M	-34.39M
Net Interest Income+	0	0	0	-2.65M	-2.93M	-1.94M	-564.11K	-3.74M	-4.03M	-3.39M
Interest Income	0	0	0	18.15K	1.86K	251	11.58K	25.54K	123.87K	234.93K
Interest Expense	0	0	0	2.66M	2.93M	1.94M	575.68K	3.76M	4.15M	3.62M
Other Income/Expense	-140	0	0	-3.66M	-4.02M	-1.95M	27.79K	-3.81M	-5.12M	-3.4M
Pretax Income+	-19.77K	-34.58K	-44.66K	-12.1M	-19.39M	-13.48M	-17.95M	-73.24M	-44.84M	-38.01M
Pretax Margin %	-5.08%	-6.27%	-15.69%	-63.66%	-60.52%	-6.23%	-6.17%	-34.45%	-2.86%	-5.28%
Income Tax+	0	0	0	0	0	0	-2.92M	0	0	0
Effective Tax Rate %	1%	1%	1%	1%	1%	1%	0.84%	1%	1%	1%
Net Income+	-19.77K	-34.58K	-44.66K	-12.1M	-19.39M	-13.48M	-15.02M	-73.24M	-44.84M	-38.01M
Net Margin %	-5.08%	-6.27%	-15.69%	-63.66%	-60.52%	-6.23%	-5.17%	-34.45%	-2.86%	-5.28%
Net Income Growth %	0.99%	-0.75%	-0.29%	-269.85%	-0.6%	0.3%	-0.11%	-3.88%	0.39%	0.15%
Net Income (Continuing)	-19.77K	-34.58K	-44.66K	-12.1M	-19.39M	-13.48M	-15.02M	-73.24M	-44.84M	-38.01M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	11.92M	19.36M
EPS (Diluted)+	-0.00	-0.00	-0.00	-0.72	-1.27	-0.66	-0.44	-1.73	-0.88	-0.61
EPS Growth %	1%	-	-	-	-0.76%	0.48%	0.33%	-2.93%	0.49%	0.31%
EPS (Basic)	-0.00	-0.00	-0.00	-0.72	-1.27	-0.66	-0.44	-1.73	-0.88	-0.61
Diluted Shares Outstanding	19.2M	19.2M	19.2M	16.82M	17.57M	20.43M	34.18M	42.24M	52.74M	69.92M
Basic Shares Outstanding	19.2M	19.2M	19.2M	16.82M	17.57M	20.43M	34.18M	42.24M	52.74M	69.92M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	8.04K	5.66K	8.13K	2.04M	3.3M	27.89M	44.66M	35.8M	23.61M	47.52M
Cash & Short-Term Investments	5.17K	2.38K	3.41K	1.13M	2.15M	26.06M	40.82M	29.78M	14.98M	29.96M
Cash Only	5.17K	2.38K	3.41K	1.13M	2.15M	26.06M	40.82M	29.78M	14.98M	29.96M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	0	1.82K	649	74.73K	20.21K	47.65K	1.21M	2.1M	4.52M	5.48M
Days Sales Outstanding	-	120.39	83.23	143.55	23.03	8.04	152.34	361.3	105.17	278.16
Inventory	2.87K	1.46K	4.07K	347.94K	427.52K	1.15M	1.18M	2.17M	2.19M	9.82M
Days Inventory Outstanding	193.4	42.9	163.65	3.23K	1.97K	340.21	237.5	780.16	85.73	523.54
Other Current Assets	0	0	0	220.26K	478.81K	0	0	643.38K	441.11K	385.61K
Total Non-Current Assets+	105.06K	0	12.86K	619.79K	962.16K	622.26K	72.78M	62.14M	68.56M	62.1M
Property, Plant & Equipment	45.06K	0	12.86K	502.15K	583.66K	214.15K	1.87M	5.95M	8.88M	6.51M
Fixed Asset Turnover	0.09x	-	0.22x	0.38x	0.55x	10.10x	1.56x	0.36x	1.77x	1.11x
Goodwill	0	0	0	0	0	0	45.03M	25.61M	27.75M	27.75M
Intangible Assets	0	0	0	53.29K	326.34K	379.53K	25.17M	28.86M	31.33M	27.18M
Long-Term Investments	0	0	0	0	0	0	500K	1.5M	0	0
Other Non-Current Assets	60K	0	0	64.36K	52.15K	28.58K	218.21K	218.21K	599.52K	663.07K
Total Assets+	8.04K	5.66K	8.13K	2.66M	4.26M	28.51M	117.44M	97.95M	92.16M	109.62M
Asset Turnover	0.48x	0.97x	0.35x	0.07x	0.08x	0.08x	0.02x	0.02x	0.17x	0.07x
Asset Growth %	-0.99%	-0.3%	0.44%	326.49%	0.6%	5.69%	3.12%	-0.17%	-0.06%	0.19%
Total Current Liabilities+	28.3K	60.5K	85.63K	17.25M	16.06M	12.49M	4.62M	22.73M	35.94M	50.58M
Accounts Payable	2K	8K	8.5K	1.11M	2.32M	2.37M	2.41M	2.97M	5.18M	5.66M
Days Payables Outstanding	134.96	235.07	341.95	10.31K	10.71K	699.32	485.96	1.06K	202.96	301.68
Short-Term Debt	26.3K	52.5K	77.13K	13.95M	10.11M	7.06M	719.31K	15.85M	25.69M	38.36M
Deferred Revenue (Current)	-26.3K	0	-1000K	20.63K	378.85K	165.03K	0	61.51K	797.6K	717.78K
Other Current Liabilities	-26.3K	0	0	20.63K	634.6K	479.71K	512.4K	0	0	0
Current Ratio	0.28x	0.09x	0.09x	0.12x	0.21x	2.23x	9.66x	1.58x	0.66x	0.94x
Quick Ratio	0.18x	0.07x	0.05x	0.10x	0.18x	2.14x	9.40x	1.48x	0.60x	0.75x
Cash Conversion Cycle	-	-71.78	-95.06	-6.94K	-8.72K	-351.07	-96.12	76.67	-12.07	500.02
Total Non-Current Liabilities+	1.65M	0	2.78M	300K	633.61K	942.87K	581.83K	17M	11.17M	23.1M
Long-Term Debt	0	0	0	300K	539.92K	906.54K	300K	14.5M	3.11M	15.87M
Capital Lease Obligations	0	0	0	0	52.45K	0	241.68K	2.46M	5.8M	4.96M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	0	41.24K	36.33K	40.15K	40.97K	26.84K	102.54K
Total Liabilities	28.3K	60.5K	85.63K	17.55M	16.69M	13.43M	5.21M	39.72M	47.11M	73.68M
Total Debt+	26.3K	52.5K	77.13K	14.25M	11.19M	8.03M	1.81M	33.39M	35.29M	60.31M
Net Debt	21.13K	50.12K	73.72K	13.12M	9.04M	-18.03M	-39M	3.61M	20.31M	30.35M
Debt / Equity	-	-	-	-	-	0.53x	0.02x	0.57x	0.78x	1.68x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-	-	-	-3.17x	-5.25x	-5.95x	-31.22x	-18.46x	-9.56x	-9.56x
Total Equity+	-20.26K	-54.84K	-77.51K	-14.88M	-12.43M	15.08M	112.23M	58.22M	45.06M	35.94M
Equity Growth %	0.99%	-1.71%	-0.41%	-191.05%	0.16%	2.21%	6.44%	-0.48%	-0.23%	-0.2%
Book Value per Share	-0.00	-0.00	-0.00	-0.88	-0.71	0.74	3.28	1.38	0.85	0.51
Total Shareholders' Equity	-20.26K	-54.84K	-77.51K	-14.88M	-12.43M	15.08M	112.23M	58.22M	33.14M	16.58M
Common Stock	300	300	576	5.05K	5.93K	2.65K	4.1K	4.41K	6.19K	9.32K
Retained Earnings	-20.56K	-55.14K	-99.81K	-32.38M	-51.77M	-65.25M	-80.27M	-153.52M	-198.36M	-236.37M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	0	0	0	-178.8K	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	11.92M	19.36M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-20.64K	-28.99K	-45.6K	-8.52M	-14.66M	-7.53M	-16.9M	-37.96M	-34.02M	-33.47M
Operating CF Margin %	-5.3%	-5.26%	-16.02%	-44.82%	-45.77%	-3.48%	-5.81%	-17.86%	-2.17%	-4.65%
Operating CF Growth %	0.98%	-0.4%	-0.57%	-185.77%	-0.72%	0.49%	-1.24%	-1.25%	0.1%	0.02%
Net Income	-19.77K	-34.58K	-44.66K	-12.1M	-19.39M	-13.48M	-15.02M	-73.24M	-44.84M	-38.01M
Depreciation & Amortization	19.3K	18.77K	13.44K	55.14K	62.85K	397.95K	1.82M	4.85M	6.05M	5.66M
Stock-Based Compensation	51.18K	253.27K	1.17K	0	938.05K	4.68M	3.25M	5.86M	1.05M	1.27M
Deferred Taxes	0	0	0	0	782.44K	0	-2.92M	0	0	0
Other Non-Cash Items	866	-5.59K	939	1.84M	119.11K	783.34K	-347.34K	23.36M	8.69M	3.17M
Working Capital Changes	-866	5.59K	-939	1.69M	2.82M	85.97K	-3.67M	1.21M	-4.97M	-5.56M
Change in Receivables	20.26K	-1.82K	1.17K	9.33K	10.23K	-27.43K	-1.15M	1.11M	-4.26M	-2.89M
Change in Inventory	-2.87K	1.41K	-2.61K	-174.62K	-79.59K	-297.9K	-126.49K	-994.67K	1.48M	-5.47M
Change in Payables	2K	6K	500	316.17K	1.21M	46K	-86.66K	554.74K	1.24M	1.16M
Cash from Investing+	0	0	0	-629.68K	-354.82K	-16.14K	-10.21M	-6.93M	536.27K	-1.73M
Capital Expenditures	0	0	0	-597.72K	-352.05K	-8.6K	-923.72K	-2.88M	-211.03K	-1.64M
CapEx % of Revenue	-	-	-	3.15%	1.1%	0%	0.32%	1.36%	0.01%	0.23%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	0	-31.96K	-2.77K	-7.54K	-2.27M	-3.05M	-167.15K	-95.28K
Cash from Financing+	24.32K	26.2K	46.63K	9.82M	16.04M	31.46M	41.86M	33.86M	18.73M	50.18M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	0	-155.65K	-67.35K	0	1.46M	64.91K	223.51K	80.16K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-20.64K	-28.99K	-45.6K	-9.11M	-15.02M	-7.57M	-17.92M	-40.89M	-34.3M	-35.2M
FCF Margin %	-5.3%	-5.26%	-16.02%	-47.97%	-46.87%	-3.5%	-6.17%	-19.24%	-2.19%	-4.89%
FCF Growth %	0.98%	-0.4%	-0.57%	-198.88%	-0.65%	0.5%	-1.37%	-1.28%	0.16%	-0.03%
FCF per Share	-0.00	-0.00	-0.00	-0.54	-0.85	-0.37	-0.52	-0.97	-0.65	-0.50
FCF Conversion (FCF/Net Income)	1.04x	0.84x	1.02x	0.70x	0.76x	0.56x	1.12x	0.52x	0.76x	0.88x
Interest Paid	0	0	0	0	0	337.1K	1.04M	14.19K	176.54K	21.8K
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	-	-	-	-	-1015.91%	-23.6%	-85.94%	-86.84%	-93.85%
Return on Invested Capital (ROIC)	-	-	-	-	-	-	-38.36%	-77.11%	-46.85%	-39.43%
Gross Margin	-39.01%	-125.36%	-218.8%	79.28%	75.3%	42.87%	37.7%	52.18%	40.67%	4.8%
Net Margin	-508.22%	-627.36%	-1569.33%	-6365.8%	-6052.17%	-622.9%	-516.86%	-3445.35%	-285.79%	-528.42%
Debt / Equity	-	-	-	-	-	0.53x	0.02x	0.57x	0.78x	1.68x
Interest Coverage	-	-	-	-3.17x	-5.25x	-5.95x	-31.22x	-18.46x	-9.56x	-9.56x
FCF Conversion	1.04x	0.84x	1.02x	0.70x	0.76x	0.56x	1.12x	0.52x	0.76x	0.88x
Revenue Growth	-99.81%	41.66%	-48.37%	6577.06%	68.6%	575.35%	34.34%	-26.87%	638.14%	-54.16%

Revenue by Segment

	2018	2019	2020	2021	2023	2024
DevelopmentRevenueMember	-	-	943.36K	2.4M	-	-
DevelopmentRevenueMember Growth	-	-	-	154.57%	-	-
ProductRevenueMember	-	-	1.15M	405.57K	-	-
ProductRevenueMember Growth	-	-	-	-64.78%	-	-
ServiceRevenueMember	-	-	62.41K	96.93K	-	-
ServiceRevenueMember Growth	-	-	-	55.32%	-	-
OtherRevenueMember	-	-	6.39K	2.79K	-	-
OtherRevenueMember Growth	-	-	-	-56.31%	-	-
Product Revenue	-	212.91K	-	-	-	-
Product Revenue Growth	-	-	-	-	-	-
Service Revenue	-	107.48K	-	-	-	-
Service Revenue Growth	-	-	-	-	-	-
Product	125.66K	-	-	-	-	-
Product Growth	-	-	-	-	-	-
Service	64.36K	-	-	-	-	-
Service Growth	-	-	-	-	-	-

Revenue by Geography

	2018	2019	2020	2021	2023	2024
ISRAEL	-	-	-	-	429.11K	4.28M
ISRAEL Growth	-	-	-	-	-	898.27%
UNITED STATES	-	-	-	-	5.72M	1.83M
UNITED STATES Growth	-	-	-	-	-	-68.05%
UNITED ARAB EMIRATES	-	-	-	-	8.52M	753.16K
UNITED ARAB EMIRATES Growth	-	-	-	-	-	-91.16%
INDIA	-	-	-	-	27.74K	17.56K
INDIA Growth	-	-	-	-	-	-36.69%
AmericanRoboticsMember	-	-	-	66.62K	-	-
AmericanRoboticsMember Growth	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Ondas Holdings Inc. (ONDS) reported $24.7M in revenue for fiscal year 2024. This represents a 1128% increase from $2.0M in 2014.

Ondas Holdings Inc. (ONDS) saw revenue decline by 54.2% over the past year.

Ondas Holdings Inc. (ONDS) reported a net loss of $42.7M for fiscal year 2024.

Dividend & Returns

Ondas Holdings Inc. (ONDS) has a return on equity (ROE) of -93.8%. Negative ROE indicates the company is unprofitable.

Ondas Holdings Inc. (ONDS) had negative free cash flow of $34.7M in fiscal year 2024, likely due to heavy capital investments.