Slide 1: Second Quarter 2026 Earnings Release
Second Quarter 2026 EARNINGS RELEASE NASDAQ: ONDS | August 13, 2026 Copyright 2026. All rights reserved.
Slide 2: Disclaimers
This presentation may contain "forward-looking statements" as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as "expects," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates,
Slide 3: Speakers
Speakers Eric Brock Founder, Chairman & CEO Entrepreneur and investor with 30+ years experience. Driving the vision and strategic direction for our global growth program. Neil Laird CFO & Treasurer Senior finance leader with 25+ years in technology / public- company operations. Leading our financial
Slide 4: Agenda
Agenda Introduction Financial Review Growth & Operational Update Outlook & Closing Remarks Q&A
Slide 5: Integrated Platform. Delivering Scale
Integrated Platform. Delivering Scale Building a system of systems leveraging our full technology portfolio across four high-growth market segments TECHNOLOGY INTEGRATION Unified global sales & marketing platform across 60+ countries MARKET PENETRATION Core assets and strategic acquisitions integrat
Slide 6: Executing Our Strategy. Delivering Results
Executing Our Strategy. Delivering Results Growth plan continues with strong results Pro forma including backlog of DZYNE and Cyberhawk as of June 30, 2026 As of June 30, 2026 Investment of $29M in corporate infrastructure in Q2 2026 to support continued accelerated growth. $83.8M Q2 2026 Revenue $7
Slide 7: Revenue Growth Accelerating
Revenue Growth Accelerating Revenue growth accelerated throughout 2025 and into the first half of 2026 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 QUARTERLY REVENUE 2025-2026 ($M) 0 25 50 75 100 $83.8 $50.1 $30.1 $10.1 $6.2 $4.2
Slide 8: Strong Organic Growth
Strong Organic Growth Driven by our expanded global sales, marketing and delivery platform (1) Pro forma assuming all companies were owned for the entire period. 85% Revenue growth (Pro forma(1)) Q2 2025 to Q2 2026 33% Organic sequential backlog growth (Q1 2026 to Q2 2026) Organic Growth Highlights
Slide 9: Integrated. Delivering Synergies
OPERATIONAL LAYER PROVIDES P&L LEVERAGE ON PATH TO PROFITABILITY Integrated. Delivering Synergies Integrating strategic acquisitions and core assets into one growth platform Supply Chain & Production Field Support & Services Sales & Marketing Government Affairs Finance & Corporate Infrastructure OPE
Slide 10: Continue to Strengthen Leadership
Continue to Strengthen Leadership Adding key talent to advance go-to-market and operational platform scale David Barnea President & Chairman, Ondas Defense Ltd. Former Director of Israel’s Mossad (2021–2026), with nearly three decades of intelligence and national security experience. At Ondas, he le
Slide 11: Our Plan is Working
Our Plan is Working Focused on executing Core+ Strategic growth program Underlying momentum to continue in 2H 2026 Revenue driven by major acceleration in backlog conversion Continue to drive organic growth and leverage investments in our scalable operating platform EXPECT STRONG 2H 2026 MAJOR 2H 20
Slide 12: Financial Review
NASDAQ: ONDS | August 13, 2026 FINANCIAL REVIEW Second Quarter 2026 Earnings Release
Slide 13: Income Statement Q2 2026
See the “Non-GAAP Financial Measures” section in the Appendix. Income Statement Q2 2026 (USD in 000s) SELECT P&L DATA Three Months Ended June 30, (Unaudited) 2026 2025 Revenues, net $ 83,772 $ 6,273 Cost of goods sold 47,641 2,941 Gross profit 36,131 3,332 Total operating expenses 199,077 12,582 Ope
Slide 14: Balance Sheet Q2 2026
Balance Sheet Q2 2026 (USD in 000s) SELECT BALANCE SHEET DATA June 30, 2026 Dec. 31, 2025 (Unaudited) ASSETS Cash, cash equivalents, restricted cash, and short-term investments $ 1,392,965 $ 616,109 Total assets $ 2,993,497 $ 1,132,841 LIABILITIES, TEMPORARY EQUITY, AND STOCKHOLDERS' DEFICIT Other d
Slide 15: Analysis of Cash OPEX Q2 2026
Analysis of Cash OPEX(1) Q2 2026 (USD in 000s) (1) See the "Non-GAAP Financial Measures" section below. Represents management estimates. Ondas Inc. $4,288 [Finance, Accounting, Governance] Growth OPEX 29,353 [CorpDev, Ondas Capital, Partner Initiatives] Corporate Level OPEX 33,641 Growth OPEX 6,049
Slide 16: Growth & Operational Update
Second Quarter 2026 Earnings Release GROWTH & OPERATIONAL UPDATE NASDAQ: ONDS | August 13, 2026
Slide 17: Continue to Strengthen Leadership
Continue to Strengthen Leadership Adding key talent to advance go-to-market and operational platform scale General Charles Flynn, U.S. Army (ret.) Ondas Advisory Board Retired four-star Army general (39 years of service), most recently Commanding General of U.S. Army-Pacific. Former Pentagon Deputy
Slide 18: Market Segments
Market Segments Integrated solutions across every market segment ISR & Persistent Intelligence Multi-layer surveillance From the stratosphere to the tactical edge — persistent, autonomous sensing. Precision Strike Launched effects Affordable, autonomous effects aligned with Replicator and affordable
Slide 19: Serving Large, Critical Markets
Serving Large, Critical Markets Representative customers U.S. AIR FORCE U.S. ARMY USSOCOM HOMELAND SECURITY NASA JAPAN SELF-DEFENSE FORCES ROYAL THAI ARMY AUSTRALIAN DEFENCE FORCES U.S. NAVY PG&E SOCAL EDISON SHELL OIL CHEVRON NATIONAL GRID RELIANCE ISRAEL DEFENSE FORCES MAFAT (DDR&D) DUBAI POLICE
Slide 20: Two-Year Strategic Program Pipeline
Two-Year Strategic Program Pipeline Pipeline of programs under current pursuit $11B+ Global program submissions UNITED STATES >$2.8B EUROPE >$4.1B MIDDLE EAST >$0.4B APAC/OTHER >$3.8B
Slide 21: Key Programs Captured
HIGHLIGHTED PROGRAMS Key Programs Captured Ondas demonstrating ability to capture large programs PROGRAMS TECH POTENTIAL Border Security Barrier UGV – Smart Demining $80M Military Vehicles UGV – Engineering Vehicles $140M US LUS LMS – Lethal Unmanned System $982M Border Protection LMS – Autonomous U
Slide 22: Key Contract Awards Since Beginning of Q2
Key Contract Awards Since Beginning of Q2 Strengthening order cadence is leveraging our sales and commercial infrastructure $50M _____________ Award Program Border Demining Program _____________ Market Segment Autonomous Ground Systems April 2026 $68M ______________ Received PO Military Program ____
Slide 23: Backlog Expansion – $757M
Backlog Expansion – $757M A diversified order backlog across geographies and market segments BACKLOG BY MARKET SEGMENT ($M) BACKLOG BY REGION ($M) $757M $757M
Slide 24: Scaling Global Operating Infrastructure
Scaling Global Operating Infrastructure Building presence with offices, agents, and partners in over 60 countries Expanding localized sales and marketing infrastructure Building scalable supply chain and production capabilities Growing field service and sustainment operations Strengthening governmen
Slide 25: Expanding Global Presence
Expanding Global Presence A growing global footprint supporting customers, operations and innovation worldwide 60 Operating Countries 1,700 Employees 25 Locations ONE ONDAS 25
Slide 26: Building the Infrastructure to Scale
Building the Infrastructure to Scale Building presence with offices, agents, and partners in over 60 countries. Manufacturing Space 10K → 230K Sq.ft +23x Q2 2025 Q2 2026 Global Sales Team 10 → 171 Representatives +17x Q2 2025 Q2 2026 Offices & Sites 5 → 60 Locations +12x Q2 2025 Q2 2026 3rd Party Di
Slide 27: Implementing Palantir Foundry at Record Speed
Implementing Palantir Foundry at Record Speed Accelerates M&A integration and on-going world-class business performance PALANTIR FOUNDRY IS OUR FORCE MULTIPLIER. BUILDING THE MOST ADVANCED, EFFICIENT & SCALABLE DEFENSE TECHNOLOGY COMPANY. 27 FASTER MERGER INTEGRATION Close deals. Realize value. SMAR
Slide 28: Multi-Domain Systems of Systems
Multi-Domain Systems of Systems Software-enabled platform integration drives customer solutions IronWave Forward deployed, aerial & ground ISR and force projection Portable, containerized command center integrating UAVs and UGVs Deployed with field squadrons — robust communications and counter-drone
Slide 29: Outlook
OUTLOOK Second Quarter 2026 Earnings Release NASDAQ: ONDS | August 13, 2026
Slide 30: Executing the Next Chapter of Ondas' Growth
Executing the Next Chapter of Ondas' Growth Four management priorities guiding our next phase of scale, innovation and value creation Commercial Scale Pipeline Conversion Global Reach Recurring Programs Operations Shared Platform Capabilities Global Manufacturing Scale Operational Execution Corporat
Slide 31: Updated Outlook
Updated Outlook Continue to demonstrate upside to our financial model Target Revenue by Segment Updated Outlook Details: Expand and pull through backlog, order pipeline Begin deliveries on major programs/ product deployments Expect to narrow losses in 2H:26 on EBITDA basis as we continue invest in t
Slide 32: Positioned to Win
Positioned to Win A differentiated platform with the assets, technology and execution capabilities to create long-term value Large and expanding defense markets. Diversified portfolio across four strategic segments. Growing backlog and commercial momentum. Global customer base and strategic partners
Slide 33: Q&A
Q&A Second Quarter 2026 Earnings Release NASDAQ: ONDS | August 13, 2026
Slide 34: Appendix: Adjusted EBITDA Reconciliation
Appendix Q2 2026 & 2025 (USD in 000s) Acquisition-related expenses include legal, accounting, and other due diligence costs incurred in connection with completed or pending acquisitions. Other (income) expense, net includes interest and dividend income, unrealized gain and losses on investments, int
Slide 35: Non-GAAP Financial Measures
As required by the rules of the Securities and Exchange Commission ("SEC"), we provide a reconciliation of our non-GAAP financial measures to the most directly comparable GAAP measures. These reconciliations are set forth in the tables below. We believe that adjusted earnings before interest, taxes,
Slide 36: Thank You
THANK YOU ir@ondas.com NASDAQ: ONDS | August 13, 2026 Copyright 2026. All rights reserved.