Ondas stock plunges 38% in a month despite strong revenue growth and a $1.4B cash reserve.

Ondas stock has dropped 38% in the past month, continuing a sector-wide sell-off in high-beta drone and defense stocks. Despite the decline, Ondas shows strong revenue growth, with Q2 2026 revenue up 67% quarter-over-quarter and a growing backlog valued at $757 million. The company holds $1.4 billion in cash and equivalents, supporting its expansion through acquisitions. However, Ondas is not yet profitable, with significant losses and share dilution, and faces risks from sector volatility and defense budget uncertainties. Investors await Q3 results and contract updates to gauge if the company can sustain its growth and reduce cash burn.

Ondas Inc. shares continue to face selling pressure, down 13.09% in the last day on Pluang. The stock trades at USD 4.58 with a market cap of $3.07 billion as of Nov 06, 2026 03:11 WIB.