Financial Performance & Outlook - Ondas' Q4 2025 revenue is estimated between $27 million and $29 million, a 51% upside compared to the prior target of $18.5 million[21] - The company's FY 2025 revenue is projected between $47.6 million and $49.6 million, a 23% increase from the previous target of $39.5 million[21] - Backlog reached $65.3 million by Q4 2025, a 180% increase from $23.3 million on November 13, 2025[25] - Ondas anticipates revenue between $170 million and $180 million in 2026, compared to a prior target of $140 million[27] Strategic Growth & Capital Allocation - Ondas has a pro forma cash balance exceeding $1.5 billion as of Q4 2025, adjusted for a $1 billion equity offering[25] - The company intends to use its capital to accelerate team growth, supply chain improvements, customer delivery, strategic programs, and overall ecosystem scaling[29] - Ondas Capital plans to deploy $150 million to accelerate the transition of unmanned and dual-use technologies into U S and European production[168] Market & Technology - The company estimates a global Total Addressable Market (TAM) of approximately $117 billion and a Serviceable Available Market (SAM) of around $7.5 billion for C-UAS, UAS, and UGV markets[47] - Ondas is involved in a $1 Billion DoW program to rapidly field small attack UAS at industrial scale[135, 140] - The company aims to create a unified "Systems of Systems" architecture integrating ISR, counter-UAS, robotics, and sensing into scalable, autonomous defense solutions[35]