It’s that time again—the earnings season when the rug gets pulled and the market gets slapped with reality. After hours, $ONDS got hit, down 9%, with trading volume of 9.7 million. I know this script.
In Q2, backlog reached 757 million, with cash of 1.4 billion. Put these numbers in the defense/industrial UAV sector context, and it’s not exactly bad. But you have to look at expectations—the market already treated the FY2026 guidance of 525–550 million as the default. Instead, what they actually delivered was only the lower bound with a “possible” label. That kind of gap is more than enough to make retail investors’ heads spin.
So the question now is: is this thing gold or scrap? My take: scrap in the short term, but a story mid-term. The selling pressure is coming from profit-takers—after all, it has already doubled from the lows. Still, 1.4 billion in cash versus the current market value doesn’t look expensive no matter how you calculate it.
But with this market—don’t rush to catch a flying knife. Wait for consolidation and stabilization around 8.5 with reduced volume before talking about entry. For a small cap like $ONDS , once it starts moving, it becomes utterly indifferent to logic.
In Q2, backlog reached 757 million, with cash of 1.4 billion. Put these numbers in the defense/industrial UAV sector context, and it’s not exactly bad. But you have to look at expectations—the market already treated the FY2026 guidance of 525–550 million as the default. Instead, what they actually delivered was only the lower bound with a “possible” label. That kind of gap is more than enough to make retail investors’ heads spin.
So the question now is: is this thing gold or scrap? My take: scrap in the short term, but a story mid-term. The selling pressure is coming from profit-takers—after all, it has already doubled from the lows. Still, 1.4 billion in cash versus the current market value doesn’t look expensive no matter how you calculate it.
But with this market—don’t rush to catch a flying knife. Wait for consolidation and stabilization around 8.5 with reduced volume before talking about entry. For a small cap like $ONDS , once it starts moving, it becomes utterly indifferent to logic.