Ondas vs Zebra: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Ondas Holdings Inc. (ONDS)

Q3 202620 Jun – 30 Sep 2026

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Ondas rode defense demand surge but losses widened

Record revenue and defense orders Ondas reported record quarterly revenue of $83.8 million, up over 13 times from a year earlier, with a backlog near $613 million and over $40 million in new defense orders.
This shows the core demand surge that drove the company's growth story.
Acquisitions and product launches Ondas acquired DZYNE Technologies for $875.8 million, agreed to buy Aran Defense, integrated Sentrycs technology into Lockheed Martin's platform, and launched Dronebuster REACH with its first Navy sale.
These strategic moves expand Ondas's defense portfolio and market reach.
Widening losses and cash burn Losses widened sharply: an $89.7 million quarterly loss, a $50.6 million adjusted EBITDA loss, and $137.4 million cash burn in the first half, making mounting losses the main counterweight to growth.
This is the key negative force that weighed on the stock despite strong revenue.
Stock fell on worse-than-expected per-share results Shares fell 6.2% on worse-than-expected per-share results, showing that investors focused on the bottom line even as the top line surged.
This directly explains the stock's negative price reaction during the period.

September 202613 Aug – 30 Sep 2026

▲3▼1

Ondas: record orders and backlog, more buying, but losses widen

Record revenue and a much bigger order book Ondas reported record quarterly revenue of $83.8 million, up more than 13 times from a year earlier, and raised its full-year target to $525-$550 million. Backlog — orders already won but not yet delivered — reached about $613 million, or $757 million including recent acquisitions. More orders mean more future sales, which supports the stock.
This is the core new fundamental driver of the period: explosive growth and a rising order book.
Losses and cash burn grew alongside sales Despite the sales jump, Ondas lost $89.7 million in the quarter and its adjusted EBITDA loss widened to $50.6 million, with $137.4 million of cash used in the first half. Shares fell 6.2% on the results because the per-share loss was worse than expected. Big losses are the main counterweight to the growth story.
It is the honest counterweight: the company is growing fast but still losing large amounts of money.
Buying Aran Defense to build more hardware in Israel Ondas agreed to buy Aran Defense for about $33 million, adding roughly 4,400 square meters of engineering and manufacturing space in Israel and about $26 million of expected 2026 revenue. This expands Ondas's ability to produce defense equipment locally and support rising demand.
A concrete acquisition that adds manufacturing capacity and revenue, directly supporting the growth story.
New long-range counter-drone product, first unit sold to the Navy Ondas launched Dronebuster REACH, a longer-range system that jams enemy drones, with the first unit contracted to the Office of Naval Research. It extends the Dronebuster line already deployed in over 50 countries, showing new products are reaching paying government customers.
A new product with a real government order shows the technology pipeline is converting into sales.

Latest13 Aug – 30 Sep 2026

▲3▼1

Ondas: record orders and backlog, more buying, but losses widen

Record revenue and a much bigger order book Ondas reported record quarterly revenue of $83.8 million, up more than 13 times from a year earlier, and raised its full-year target to $525-$550 million. Backlog — orders already won but not yet delivered — reached about $613 million, or $757 million including recent acquisitions. More orders mean more future sales, which supports the stock.
This is the core new fundamental driver of the period: explosive growth and a rising order book.
Losses and cash burn grew alongside sales Despite the sales jump, Ondas lost $89.7 million in the quarter and its adjusted EBITDA loss widened to $50.6 million, with $137.4 million of cash used in the first half. Shares fell 6.2% on the results because the per-share loss was worse than expected. Big losses are the main counterweight to the growth story.
It is the honest counterweight: the company is growing fast but still losing large amounts of money.
Buying Aran Defense to build more hardware in Israel Ondas agreed to buy Aran Defense for about $33 million, adding roughly 4,400 square meters of engineering and manufacturing space in Israel and about $26 million of expected 2026 revenue. This expands Ondas's ability to produce defense equipment locally and support rising demand.
A concrete acquisition that adds manufacturing capacity and revenue, directly supporting the growth story.
New long-range counter-drone product, first unit sold to the Navy Ondas launched Dronebuster REACH, a longer-range system that jams enemy drones, with the first unit contracted to the Office of Naval Research. It extends the Dronebuster line already deployed in over 50 countries, showing new products are reaching paying government customers.
A new product with a real government order shows the technology pipeline is converting into sales.

July 202620 Jun – 22 Jul 2026

▲4

Ondas rides defense demand surge with major orders and DZYNE acquisition

Military drone battery push could lift demand An energy expert predicts the Pentagon's premium spending on high-density batteries will make military drones a key catalyst, indirectly boosting demand for Ondas's drones. This supports future orders and revenue growth.
It highlights a new demand driver from defense budget trends that could benefit Ondas.
Sentrycs tech integrated into Lockheed Martin platform Ondas's subsidiary Sentrycs will integrate its cyber-over-RF counter-drone technology into Lockheed Martin's Sanctum platform. This partnership could lead to more orders and wider adoption of Ondas's solutions.
It shows a concrete new collaboration that may drive future revenue for Ondas.
Over $40 million in new defense orders Ondas received more than $40 million in new orders for autonomous defense systems in June, bringing Q2 order activity above $150 million. This signals strong demand and supports revenue growth.
It provides fresh evidence of accelerating order momentum, a key driver for the stock.
Acquires DZYNE for $875.8 million Ondas acquired DZYNE Technologies for $875.8 million, creating Ondas Sentinel. DZYNE is EBITDA positive, which should boost Ondas's financials and speed its path to profitability.
It is a major strategic move that strengthens Ondas's business and financial profile.

20 Jun – 22 Jul 2026

▲4

Ondas rides defense demand surge with major orders and DZYNE acquisition

Military drone battery push could lift demand An energy expert predicts the Pentagon's premium spending on high-density batteries will make military drones a key catalyst, indirectly boosting demand for Ondas's drones. This supports future orders and revenue growth.
It highlights a new demand driver from defense budget trends that could benefit Ondas.
Sentrycs tech integrated into Lockheed Martin platform Ondas's subsidiary Sentrycs will integrate its cyber-over-RF counter-drone technology into Lockheed Martin's Sanctum platform. This partnership could lead to more orders and wider adoption of Ondas's solutions.
It shows a concrete new collaboration that may drive future revenue for Ondas.
Over $40 million in new defense orders Ondas received more than $40 million in new orders for autonomous defense systems in June, bringing Q2 order activity above $150 million. This signals strong demand and supports revenue growth.
It provides fresh evidence of accelerating order momentum, a key driver for the stock.
Acquires DZYNE for $875.8 million Ondas acquired DZYNE Technologies for $875.8 million, creating Ondas Sentinel. DZYNE is EBITDA positive, which should boost Ondas's financials and speed its path to profitability.
It is a major strategic move that strengthens Ondas's business and financial profile.

Zebra Technologies Corporation (ZBRA)

Q3 20268 Jul – 7 Aug 2026

▲3

Zebra's record Q2 earnings and raised guidance drive a 20%+ stock surge

Record Q2 earnings and raised full-year outlook Zebra reported Q2 adjusted EPS of $6.35, far above the $4.36 consensus, on revenue of $1.56 billion (up 20.4%). Management raised full-year EPS guidance to about $21 and free cash flow above $1 billion. The stock jumped over 20% as investors saw a much stronger business than expected.
This is the single biggest new event that directly caused the stock's sharp move up.
Broad-based demand and better memory chip supply CEO Bill Burns said demand is strong across all regions and the company secured more memory chips than expected, helping drive the earnings beat. This shows Zebra's core business is healthy and growing, which supports a higher stock price.
It explains the underlying business strength behind the earnings beat, not just the headline number.
AI in warehousing market growth and Zebra's new AI tools The AI-in-warehousing market is projected to grow from $12.5 billion in 2025 to $127.7 billion by 2035. Zebra launched generative AI capabilities for frontline workers, positioning itself in a fast-growing area. This long-term trend could boost future sales and investor enthusiasm.
It highlights a new growth opportunity that supports the bullish case for ZBRA beyond the current quarter.
Geopolitical risk and oil spike earlier in the period Early in the period, Zebra shares fell 2.6% as Iran ceasefire collapse and an oil price spike triggered a broad risk-off move, raising inflation fears and bond yields. This shows the stock is still sensitive to geopolitical shocks, though the later earnings surge more than offset this drop.
It provides a fair counterweight: not all news was positive, and external risks can pressure the stock.

July 20268 Jul – 7 Aug 2026

▲3

Zebra's record Q2 earnings and raised guidance drive a 20%+ stock surge

Record Q2 earnings and raised full-year outlook Zebra reported Q2 adjusted EPS of $6.35, far above the $4.36 consensus, on revenue of $1.56 billion (up 20.4%). Management raised full-year EPS guidance to about $21 and free cash flow above $1 billion. The stock jumped over 20% as investors saw a much stronger business than expected.
This is the single biggest new event that directly caused the stock's sharp move up.
Broad-based demand and better memory chip supply CEO Bill Burns said demand is strong across all regions and the company secured more memory chips than expected, helping drive the earnings beat. This shows Zebra's core business is healthy and growing, which supports a higher stock price.
It explains the underlying business strength behind the earnings beat, not just the headline number.
AI in warehousing market growth and Zebra's new AI tools The AI-in-warehousing market is projected to grow from $12.5 billion in 2025 to $127.7 billion by 2035. Zebra launched generative AI capabilities for frontline workers, positioning itself in a fast-growing area. This long-term trend could boost future sales and investor enthusiasm.
It highlights a new growth opportunity that supports the bullish case for ZBRA beyond the current quarter.
Geopolitical risk and oil spike earlier in the period Early in the period, Zebra shares fell 2.6% as Iran ceasefire collapse and an oil price spike triggered a broad risk-off move, raising inflation fears and bond yields. This shows the stock is still sensitive to geopolitical shocks, though the later earnings surge more than offset this drop.
It provides a fair counterweight: not all news was positive, and external risks can pressure the stock.

Latest8 Jul – 7 Aug 2026

▲3

Zebra's record Q2 earnings and raised guidance drive a 20%+ stock surge

Record Q2 earnings and raised full-year outlook Zebra reported Q2 adjusted EPS of $6.35, far above the $4.36 consensus, on revenue of $1.56 billion (up 20.4%). Management raised full-year EPS guidance to about $21 and free cash flow above $1 billion. The stock jumped over 20% as investors saw a much stronger business than expected.
This is the single biggest new event that directly caused the stock's sharp move up.
Broad-based demand and better memory chip supply CEO Bill Burns said demand is strong across all regions and the company secured more memory chips than expected, helping drive the earnings beat. This shows Zebra's core business is healthy and growing, which supports a higher stock price.
It explains the underlying business strength behind the earnings beat, not just the headline number.
AI in warehousing market growth and Zebra's new AI tools The AI-in-warehousing market is projected to grow from $12.5 billion in 2025 to $127.7 billion by 2035. Zebra launched generative AI capabilities for frontline workers, positioning itself in a fast-growing area. This long-term trend could boost future sales and investor enthusiasm.
It highlights a new growth opportunity that supports the bullish case for ZBRA beyond the current quarter.
Geopolitical risk and oil spike earlier in the period Early in the period, Zebra shares fell 2.6% as Iran ceasefire collapse and an oil price spike triggered a broad risk-off move, raising inflation fears and bond yields. This shows the stock is still sensitive to geopolitical shocks, though the later earnings surge more than offset this drop.
It provides a fair counterweight: not all news was positive, and external risks can pressure the stock.