ONDS News & Events

Mixed options sentiment in Ondas Holdings (ONDS), with shares up 58c, or 6.02%, near $10.30. Options volume roughly in line with average with 95k contracts traded and calls leading puts for a put/call ratio of 0.22, compared to a typical level near 0.38. Implied volatility (IV30) dropped 5.4 near 121.27,in the bottom quartile of the past year, suggesting an expected daily move of $0.79. Put-call skew steepened, indicating increased demand for downside protection.Looking ahead: Ondas Holdings (ONDS) will report earnings after the close on None.Option markets are pricing in a 50% probability of a move greater than 0.0% or $0.00.

Ondas' 4M Defense has received the first operational order under the previously announced large-scale multi-year demining program in Israel. The initial order, valued at approximately $15.8M, marks the first phase of execution under the national land-clearance initiative awarded to 4M Defense following a competitive tender valued at over $30M. The project will be implemented based on defined milestones, with an initial execution period of up to three years and includes options for extensions and scope expansion as the program progresses. The contract also includes the potential for up to an additional $30M in follow-on phases over the coming years, effectively doubling the total potential value of the program as additional project phases are authorized.

Ondas entered into a merger agreement with Mistral. Under the agreement, Mistral will merge with a subsidiary of Ondas, while maintaining its current contract administration responsibilities. The transaction provides Ondas with direct prime contractor access to U.S. Army and Special Operations contract vehicles while adding U.S.-based manufacturing, integration, and federal contracting infrastructure. Mistral, headquartered in Bethesda, MD, operates U.S.-based manufacturing, assembly, integration, and quality assurance infrastructure supporting rapid program execution and compliance with U.S. defense sourcing requirements. As a prime contractor on U.S. Army and USSOCOM uncrewed and autonomous platforms procurement vehicles, the company supports rapid capability fielding and mission equipment integration for operational units. Mistral's experience includes unmanned systems procurement, advanced mission equipment integration, defense electronics, survivability and mobility enhancements, and lifecycle sustainment services. The merger aligns with Ondas' strategy to expand its U.S. defense footprint and transition from standalone system deployments to structured participation in multi-year contract vehicles. Mistral's contracting infrastructure and integration capabilities will support the deployment of Ondas' expanding portfolio of autonomous aerial and ground systems-including counter-drone, robotic, and ISR platforms-into U.S. military, homeland security, and public safety programs and help transition Ondas from standalone system deployments to participation in multi-year DoD contract vehicles and program-of-record opportunities. Together with Mistral capabilities, we believe Ondas is well positioned to deliver fully integrated autonomous air and ground solutions aligned with Department of Defense modernization priorities, homeland security requirements, and state-level public safety missions. The acquisition represents an important step in Ondas' strategy to expand its role within U.S. defense procurement by combining advanced autonomous platforms with U.S.-based prime contractor infrastructure capable of competing for and executing multi-year government programs.

Ondas sees FY26 revenue $170M-$180M, consensus $176.88M