Ondas Holdings Inc. (ONDS) shares climbed Friday after the company delivered a substantial upward revision to its financial outlook, just ahead of its virtual Investor Day event.

Major Revenue Target Increase Ahead of Investor Day

The headline news: Ondas bumped its 2026 revenue target up to a range of $170 million to $180 million. That's a solid 25% increase from the company's earlier projection of $140 million, which is the kind of guidance boost that tends to make shareholders happy.

But the near-term numbers look even more interesting. The company now expects fourth-quarter 2025 revenue between $27 million and $29 million, which represents a 51% jump from what management was previously forecasting for the quarter. For the full year 2025, Ondas is projecting revenue of $47.6 million to $49.6 million—that's 23% higher than the prior full-year target.

Perhaps most striking is the backlog figure. Ondas reported a preliminary backlog of $65.3 million as of December 31, 2025. That's up 180% from the $23.3 million the company reported back on November 13, 2025. In other words, the backlog nearly tripled in about six weeks, which suggests demand is accelerating meaningfully.

The company also noted that its pro-forma cash balance exceeded $1.5 billion as of year-end, adjusted for its recent offering of approximately $1 billion. That's a significant war chest for a company looking to scale operations and execute on its growth plans.

Worth noting: all of this preliminary financial data hasn't been audited yet. Ondas expects to report its official fourth-quarter and full-year 2025 results in March 2026. The company is hosting its OAS Investor Day virtually today at 10 a.m. ET.

What the Chart Says

The stock is trading 24.5% above its 20-day simple moving average and 67.5% above its 100-day SMA, showing strength across both short-term and longer-term timeframes. Over the past year, shares have rocketed 482.73%, and they're currently sitting much closer to their 52-week highs than lows.

From a technical standpoint, the RSI stands at 61.83, which is neutral territory—not overbought, not oversold. Meanwhile, the MACD is above its signal line, indicating bullish momentum. The combination suggests there's room for the rally to continue, though momentum indicators are showing mixed signals.

Ondas shares were trading 1.95% higher at $13.07 at the time of reporting.