Is Ondas Inc. financially healthy?

Ondas Inc. scores 5 out of 8 on the Piotroski F-score. Only 8 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Its Altman Z-score puts it in the safe zone. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.

Who are the largest institutional holders of Ondas Inc.?

Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are BlackRock, Inc. (adding), CITADEL ADVISORS LLC (adding), STATE STREET CORP (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

Ondas Inc. (ONDS)

Nasdaq · Common Stock · Radio & Tv Broadcasting & Communications Equipment

One email a week from me: what it filed, which 13F holders added or cut, where its scores stand. Free.

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

5 / 8

FAILReturn on assets positiveROA -11.7%
FAILOperating cash flow positiveOCF -39M
PASSReturn on assets improving-34.7% → -11.7%
PASSCash flow exceeds earningsOCF -39M vs NI -132M
FAILLong-term debt ratio fallingno debt reported
PASSCurrent ratio improving0.94 → 4.84
PASSNo share dilution70M → 221769 shares
PASSGross margin improving4.8% → 39.7%
FAILAsset turnover improving0.07× → 0.04×

Altman Z-score

3.55safe

Bankruptcy-risk screen combining working capital, retained earnings, operating income, market value against liabilities, and asset turnover. Above 2.99 is the safe zone; below 1.81 is distress.

Cash conversion: 29.3%
Share count change: -99.7%

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2020	$2.2M	−$13.5M	−$7.5M	42.9%	—
FY2021	$2.9M	−$15.0M	−$17.8M	37.7%	34,180,897
FY2022	$2.1M	−$73.2M	−$40.8M	52.2%	42,242,525
FY2023	$15.7M	−$44.8M	−$34.2M	40.7%	52,740,215
FY2024	$7.2M	−$38.0M	−$35.1M	4.8%	69,917,062
FY2025

Ownership flow

9 institutions tracked — 8 added, 1 reduced, 2 sold out.

Institutional holders of Ondas Inc. and their share-count change
Manager	Kind	Shares	Change	Value
BlackRock, Inc.	Index	39,500,271	+30,188,317	$325.5M
STATE STREET CORP	Index	15,579,626	+9,156,487	$128.4M
GEODE CAPITAL MANAGEMENT, LLC	Index	12,715,298	+7,414,164	$104.8M
MORGAN STANLEY	Active fund	11,441,930	+5,038,920	$94.3M

Identity

CIK: 0001646188
LEI: 549300JWLHDUB82V8607
FIGI: BBG009HYYCD9
SIC: 3663 · Radio & Tv Broadcasting & Communications Equipment
Incorporated: NV
Headquarters: WEST PALM BEACH, FL

Ownership

Institutional: 57.1%
Institutions: 522
Insiders: 1.8%

Ownership percentages are a vendor aggregate, not a filing — unlike everything else on this page.

Other radio & tv broadcasting & communications equipment companies

Ondas Inc. files under SIC 3663 — all 8 radio & tv broadcasting & communications equipment companies compared on assets and F-score.

QUALCOMM INC/DEQCOM Motorola Solutions, Inc.MSI Vistance Networks, Inc.VISN Planet Labs PBCPL COMTECH TELECOMMUNICATIONS CORP /DE/CMTL HARMONIC INC.HLIT

Dealer positioning — end of day

Where dealer gamma sat in ONDS’s option chain after the close on 2026-09-01, aggregated from the full chain. This is a once-a-day snapshot, not a live read — 481 contracts.

Net gamma (per 1% move): $657,769.204
Gamma flip: 15
Call wall: 10
Put wall: 7
Spot at capture: 7.66

Computed from the listed option chain by my own aggregation, once, after the close — it describes where positioning sat that evening and does not update through the next session. The version that rebuilds per strike while the market is open is the intraday gamma product. Not investment advice.

Questions about Ondas Inc.

Is Ondas Inc. financially healthy?: Ondas Inc. scores 5 out of 8 on the Piotroski F-score. Only 8 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Its Altman Z-score puts it in the safe zone. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.
Who are the largest institutional holders of Ondas Inc.?: Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are BlackRock, Inc. (adding), CITADEL ADVISORS LLC (adding), STATE STREET CORP (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

This page is one panel of the terminal

The structure map above is the Corporate Blueprint, and in the desktop it is interactive — click any entity to re-centre the map on it and walk the ownership chain. It sits alongside the screener, the scorecard and the filings lab on one desk, on your machine.

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Sourced from SEC EDGAR primary filings. Figures are as reported by the company and are not investment advice. Scores are standard published screens computed from those filings; every input is shown above so you can check the arithmetic.