Ondas Holdings Inc. (ONDS) Reports Q3 Loss, Tops Revenue Estimates

Core Viewpoint - Ondas Holdings Inc. reported a quarterly loss of $0.15 per share, slightly worse than the Zacks Consensus Estimate of a loss of$0.14, indicating a -7.14% earnings surprise [1] Financial Performance - The company posted revenues of $1.48 million for the quarter ended September 2024, exceeding the Zacks Consensus Estimate by 12.20$2.67 million in the same quarter last year [2] - Over the last four quarters, Ondas has surpassed consensus revenue estimates three times [2] - The current consensus EPS estimate for the upcoming quarter is -$0.09 on revenues of$5.75 million, and for the current fiscal year, it is -$0.51 on revenues of$8.65 million [7] Stock Performance - Ondas shares have declined approximately 47.7% since the beginning of the year, contrasting with the S&P 500's gain of 25.8% [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating expectations of underperformance in the near future [6] Industry Outlook - The Communication - Network Software industry, to which Ondas belongs, is currently ranked in the top 35% of over 250 Zacks industries, suggesting a favorable industry outlook [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Ondas's stock performance [5]