Drone Maker Ondas Holdings Shares Surge 26% on Boost to Revenue Target
Dow Jones11-13
Shares of Ondas Holdings surged after the company reported third-quarter revenue above analysts' expectations and boosted its 2025 revenue target.
The stock rose 17% to $6.44 in premarket trading and has more than doubled so far this year.
The company reported record quarterly revenue of $10.1 million, representing a more than six-fold increase from the previous year. Analysts expected $7 million, according to FactSet.
Ondas also increased its 2025 revenue outlook to at least $36 million, up from its previous forecast of at least $25 million. It also established a preliminary revenue target of at least $110 million for 2026.
Analysts see 2025 revenue of $27.1 million and 2026 revenue of $78.6 million.
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