Stockholders’ Equity and Stock-Based Compensation (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Stockholders’ Equity and Stock-Based Compensation [Abstract] |
|
| Schedule of Net Proceeds |
The table below details the
net proceeds of the June 2025 Public Offering.
|
(dollars in thousands) Gross Proceeds:
|
|
|
|
| Initial closing |
|
$ |
39,999 |
|
| Option closing |
|
|
6,000 |
|
| |
|
|
45,999 |
|
| Offering costs: |
|
|
|
|
| Underwriting discounts and commissions |
|
|
(2,500 |
) |
| Other offering costs |
|
|
(822 |
) |
| Net Proceeds |
|
$ |
42,677 |
|
The table below details the
net proceeds of the August 2025 Public Offering.
|
(dollars in thousands) Gross Proceeds:
|
|
|
|
| Initial closing |
|
$ |
150,020 |
|
| Option closing |
|
|
22,503 |
|
| |
|
|
172,523 |
|
| Offering costs: |
|
|
|
|
| Underwriting discounts and commissions |
|
|
(9,489 |
) |
| Other offering costs |
|
|
(398 |
) |
| Net Proceeds |
|
$ |
162,636 |
|
The table below details the
net proceeds of the September 2025 Offering.
|
(dollars in thousands) Gross Proceeds:
|
|
|
|
| Initial closing |
|
$ |
200,000 |
|
| Option closing |
|
|
30,000 |
|
| |
|
|
230,000 |
|
| Offering costs: |
|
|
|
|
| Underwriting discounts and commissions |
|
|
(12,650 |
) |
| Other offering costs |
|
|
(355 |
) |
| Net Proceeds |
|
$ |
216,995 |
|
The table below details the
net proceeds of the October 2025 Offering.
| Gross Proceeds |
|
$ |
425,038 |
|
| Offering costs: |
|
|
|
|
| Underwriting discounts and commissions |
|
|
(17,002 |
) |
| Other offering costs |
|
|
(828 |
) |
| Net Proceeds |
|
$ |
407,208 |
|
|
| Schedule of Assumptions Used in the Black-Scholes Model |
The assumptions used in the Black-Scholes Model
for the year ended December 31, 2024 are set forth in the table below.
| |
|
Ondas Inc. |
|
| |
|
2024 |
|
| Stock price |
|
$ |
0.72-1.40 |
|
| Risk-free interest rate |
|
|
3.71-4.62 |
% |
| Volatility |
|
|
56.15-82.03 |
% |
| Expected life in years |
|
|
2.00-5.00 |
|
| Dividend yield |
|
|
0.00 |
% |
The assumptions used in the Monte Carlo simulation
and Black-Scholes Model are set forth in the table below.
| |
| 2025 |
|
| 2024 |
|
| Stock price |
| $ |
0.77-9.27 |
|
| $ |
1.00 |
|
| Risk-free interest rate |
| |
3.66-4.65 |
% |
| |
4.43 |
% |
| Volatility |
| |
59.05-88.69 |
% |
| |
58.58 |
% |
| Expected life in years |
| |
5.00-6.27 |
|
| |
6.25 |
|
| Dividend yield |
| |
0.00 |
% |
| |
0.00 |
% |
|
| Schedule of Warrants Activity |
A summary of our Warrants
activity and related information is as follows:
| |
| Number of
Shares
Under
Warrant |
|
| Weighted
Average
Exercise
Price |
|
| Weighted
Average
Remaining
Contractual
Life |
|
| Balance as of January 1, 2025 |
| |
26,490,110 |
|
| $ |
1.70 |
|
| |
3.84 |
|
| Granted |
| |
100,920,000 |
|
| $ |
14.65 |
|
| |
|
|
| Exercised |
| |
(51,671,032 |
) |
| $ |
0.44 |
|
| |
|
|
| Cancelled |
| |
(262,700 |
) |
| $ |
7.01 |
|
| |
|
|
| Balance as of December 31, 2025 |
| |
75,476,378 |
|
| $ |
19.74 |
|
| |
6.74 |
|
| Vested and Exercisable as of December 31, 2025 |
| |
75,449,825 |
|
| $ |
19.75 |
|
| |
6.75 |
|
|
| Schedule of Option Activity |
A summary of our Option activity
and related information is as follows:
| |
|
Number of Shares
Under
Option
|
|
| Weighted
Average
Exercise
Price |
|
| Weighted
Average
Remaining
Contractual
Life |
|
| Balance as of January 1, 2025 |
| |
4,289,359 |
|
| $ |
3.70 |
|
| |
7.59 |
|
| Granted |
| |
19,966,204 |
|
| $ |
3.36 |
|
| |
|
|
| Exercised |
| |
(3,922,819 |
) |
| $ |
2.01 |
|
| |
|
|
| Forfeited |
| |
(287,875 |
) |
| $ |
0.95 |
|
| |
|
|
| Canceled |
| |
(30,488 |
) |
| $ |
10.10 |
|
| |
|
|
| Balance as of December 31, 2025 |
| |
20,014,381 |
|
| $ |
3.72 |
|
| |
8.16 |
|
| Vested and Exercisable as of December 31, 2025 |
| |
4,806,854 |
|
| $ |
3.65 |
|
| |
5.88 |
|
|
| Schedule of Stock-Based Compensation Expense for Stock Options |
Total stock-based compensation
expense for stock options for the years ended December 31, 2025 and 2024 is as follows:
| |
|
Years Ended December 31, |
|
| (dollars in thousands) |
|
2025 |
|
|
2024 |
|
| General and administrative |
|
$ |
6,559 |
|
|
$ |
272 |
|
| Sales and marketing |
|
|
854 |
|
|
|
240 |
|
| Research and development |
|
|
1,099 |
|
|
|
141 |
|
| Cost of goods sold |
|
|
790 |
|
|
|
73 |
|
| Total stock-based expense related to options |
|
$ |
9,302 |
|
|
$ |
726 |
|
Total stock-based compensation
expense for RSUs for the years ended December 31, 2025 and 2024 is as follows:
| |
|
Years Ended December 31, |
|
| (dollars in thousands) |
|
2025 |
|
|
2024 |
|
| General and administrative |
|
$ |
4,629 |
|
|
$ |
179 |
|
| Sales and marketing |
|
|
779 |
|
|
|
13 |
|
| Research and development |
|
|
519 |
|
|
|
1 |
|
| Cost of goods sold |
|
|
605 |
|
|
|
- |
|
| Total stock-based expense related to restricted stock units |
|
$ |
6,532 |
|
|
$ |
193 |
|
|
| Schedule of Restricted Stock Unit (RSUs) Activity |
A summary of our RSUs activity
and related information is as follows:
| |
| RSUs |
|
| Weighted
Average
Grant Date
Fair Value |
|
| Weighted
Average
Vesting
Period
(Years) |
|
| Unvested balance at January 1, 2025 |
| |
252,417 |
|
| $ |
0.68 |
|
| |
0.75 |
|
| Granted |
| |
10,932,542 |
|
| $ |
4.99 |
|
| |
|
|
| Vested |
| |
(2,074,183 |
) |
| $ |
1.61 |
|
| |
|
|
| Unvested balance at December 31, 2025 |
| |
9,110,776 |
|
| $ |
5.64 |
|
| |
2.35 |
|
|