Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Balance Sheets

v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current Assets:    
Cash and cash equivalents $ 550,744 $ 29,958
Restricted cash 43,615 41
Short-term investments 21,750
Accounts receivable, net 22,356 5,223
Inventory, net 21,963 9,822
Other current assets 25,473 2,476
Total current assets 685,901 47,520
Property and equipment, net 10,217 2,587
Goodwill, net of accumulated impairment charges 251,809 27,752
Intangible assets, net 136,890 27,178
Long-term equity investments 35,587
Other assets 12,437 4,585
Total assets 1,132,841 109,622
Current Liabilities:    
Accounts payable 13,873 5,660
Accrued expenses and other current liabilities 33,970 5,841
Accrued purchase consideration 75,000
Notes payable, net of unamortized debt discount and issuance costs of $0 and $227, respectively, related party 1,500 1,273
Notes payable 704
Convertible note payable, net of unamortized debt discount and issuance cost of $0 and $362, respectively, related party 3,500 5,138
Convertible note payable, net of debt discount and issuance cost of $0 and $5,236, respectively 2,950 31,947
Deferred revenue 8,029 329
Government grant liability 2,295 389
Total current liabilities 141,821 50,577
Convertible notes payable, net of current portion, net of unamortized debt discount and issuance cost of $0 and $1,682, respectively 3,834 15,868
Government grant liability, net of current portion 1,362 2,168
Warrant liability 489,434
Deferred tax liability 14,531
Other long-term liabilities 10,244 5,065
Total liabilities 661,226 73,678
Commitments and Contingencies (Note 17)
Temporary Equity    
Redeemable noncontrolling interest 29,796 19,361
Stockholders’ Equity    
Preferred stock – par value $0.0001; 5,000,000 shares authorized at December 31, 2025 and December 31, 2024, and none issued or outstanding at December 31, 2025 and December 31, 2024
Common stock – par value $0.0001; 800,000,000 and 300,000,000 shares authorized at December 31, 2025 and 2024, respectively; 380,763,481 and 93,173,191 issued and outstanding at December 31, 2025 and December 31, 2024, respectively 38 9
Additional paid in capital 805,828 252,942
Accumulated other comprehensive income 329
Accumulated deficit (368,387) (236,368)
Total Ondas Inc. stockholders’ equity 437,808 16,583
Noncontrolling interest 4,011
Total stockholders’ equity 441,819 16,583
Total liabilities and stockholders’ equity 1,132,841 109,622
Series A Preferred Stock    
Stockholders’ Equity    
Preferred stock – par value $0.0001; 5,000,000 shares authorized at December 31, 2025 and December 31, 2024, and none issued or outstanding at December 31, 2025 and December 31, 2024