Ondas Holdings Inc. (ONDS) Reports Q2 Loss, Tops Revenue Estimates

Company Performance - Ondas Holdings Inc. reported a quarterly loss of $0.14 per share, better than the Zacks Consensus Estimate of a loss of $0.17, and an improvement from a loss of $0.18 per share a year ago, resulting in an earnings surprise of 17.65% [1] - The company posted revenues of $0.96 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 13.37%, but down from $5.47 million in the same quarter last year [2] - Over the last four quarters, Ondas has exceeded consensus EPS estimates two times and topped consensus revenue estimates two times [2] Stock Performance - Ondas shares have declined approximately 54.8% since the beginning of the year, contrasting with the S&P 500's gain of 13.9% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.14 on revenues of $4.44 million, and for the current fiscal year, it is -$0.50 on revenues of $19.64 million [7] Industry Outlook - The Communication - Network Software industry, to which Ondas belongs, is currently ranked in the bottom 16% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Ondas' stock performance [5]