Ondas Holdings is shifting from drone software into a defense-technology platform spanning unmanned and autonomous systems. The company targets defense, security, industrial, and critical infrastructure markets. Q1 results show revenue of $50.12 million, a tenfold year-over-year increase, and raised full-year guidance to at least $390 million. Pro forma backlog rose to $457 million from $68.30 million at year-end 2025. The 2026 acquisition plan adds capabilities across unmanned ground vehicles, counter-drone protection, AI land intelligence for demining and border security, stratospheric ISR, prime contractor access for loitering munitions, and battlefield command-and-control software. Cash totaled $1.026 billion after financing activities, supporting additional M&A capacity.
"CEO Eric Brock told investors the strategy is to "build Ondas into a scaled global operating platform for unmanned and autonomous systems, serving defense, security, industrial and critical infrastructure markets." The market is paying attention: shares are up 972.04% over the past year, lifting the market cap to $5.26 billion."
"Revenue hit $50.12 million, a tenfold jump year-over-year, and management raised full-year guidance to at least $390 million. Pro forma backlog surged to $457 million from $68.30 million at year-end 2025. The acquisition spree was the headline of the company's Q1 update."
"Mistral: Unlocks U.S. defense prime contractor status through Army and Special Operations IDIQ contracts, with $264 million in backlog. Brock called it "a highly strategic position as a prime contractor, including participation in a $982 million IDIQ program with the U.S. Army for loitering munitions.""
"Ondas finished Q1 with $1.026 billion in cash after raising $968.47 million through financing activities. Brock estimates the balance sheet can support "more than $4.2 billion of M&A activity" at an approximate 2:1 equity-to-cash stru"
#defense-technology #unmanned-systems #mergers-and-acquisitions #isr-and-counter-drone #ai-intelligence
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