Ondas Holdings Inc. (ONDS) experienced a significant pre-market surge of 13.9% on Thursday. The sharp upward movement in the communication equipment company's stock price occurred during the pre-market trading session.

The primary driver behind this substantial gain appears to be the company's latest earnings report. Ondas Holdings reported first-quarter revenue of $50.1 million, which significantly surpassed the Ibes estimate of $39.4 million.

This positive earnings surprise, with revenue exceeding expectations by approximately 27%, likely fueled investor optimism and buying activity before the market open, resulting in the double-digit percentage increase in the stock's price.