ONDAS $ONDS Q2’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $83.8M (Est. $68M) 🟢; +67% QoQ 🔹 Adj. EBITDA: -$50.6M (Est. -$32M) 🔴 🔹 Adj. Gross Margin: 50.4% FY26 Guide: 🔹 Revenue: $525M-$550M (Est. $509M) 🟢 Q3 Guide: 🔹 Revenue: $140M-$155M (Est. $151M) 🟡 Other Q2 Metrics: 🔹 Backlog: $613M; $757M pro forma incl. DZYNE & Cyberhawk 🔹 New Orders: $175M in Q2, plus $105M in Q3 to date 🔹 Adj. Gross Profit: $42.3M 🔹 Adj. Cash Opex: $93.3M; Q1 $36.9M 🔹 Net Loss: -$89.7M 🔹 Cash: $1.4B Key Updates: 🔹 Pulls forward Adj. EBITDA profitability: platform level by Q4 2026, company-wide by Q4 2027 🔹 Lethal Unmanned Strike: $52.9M order in July 🔹 Army IDIQ: $982M program, over $240M of aggregate orders captured 🔹 NASA raised Stratollite IDIQ ceiling from $45M to $395M 🔹 Opex included $105.8M of non-cash items, incl. $67.6M stock comp Comments: 🔸 “We expect to sustain this momentum and deliver another significant revenue ramp during the second half of 2026, increasing our full-year 2026 revenue target to a range of $525 million to $550 million.”