Ondas completes $175 million acquisition of Mistral, boosting defense capabilities
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3 days ago
0mins
Should l Buy ONDS?
Source: stocktwits
Ondas Inc. shares fell 5.02% as the stock crossed below its 5-day SMA amid broader market declines, with the Nasdaq-100 down 1.25% and the S&P 500 down 0.63%.
The decline comes despite Ondas completing a significant $175 million acquisition of U.S. defense contractor Mistral, which enhances its access to procurement channels within the U.S. Army and Special Operations. This acquisition is expected to add approximately $264 million to Ondas' backlog, bringing the total backlog to around $457 million and raising its 2026 revenue target to at least $375 million, reflecting strong growth momentum in the defense sector.
The acquisition positions Ondas as a more mature defense contractor, transitioning from an early-stage tech identity. With a strong backlog and optimistic revenue outlook, the company is well-placed to capitalize on the growing demand for integrated autonomous defense platforms.
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Analyst Views on ONDS
Wall Street analysts forecast ONDS stock price to rise
8 Analyst Rating
8 Buy
0 Hold
0 Sell
Strong Buy
Current: 9.490
Low
13.00
Averages
17.50
High
25.00
Current: 9.490
Low
13.00
Averages
17.50
High
25.00
About ONDS
Ondas Inc. is a provider of autonomous systems, robotics, and mission-critical connectivity solutions for defense, security, and industrial markets. Through its business units, Ondas Autonomous Systems (OAS), Ondas Capital and Ondas Networks, it develops and deploys integrated technologies that deliver advanced sensing, mobility, and communications capabilities. OAS delivers a portfolio of artificial-intelligence (AI)-powered defense and security platforms to protect sensitive sites, populations, and critical infrastructure. OAS also provides an integrated suite of autonomous aerial, ground, and counter-UAS solutions through its operating companies. It also provides Airborne Missile Protection Systems (AMPS) and airborne intelligence, surveillance and reconnaissance (ISR) solutions for the military, government and others. It also specializes in the procurement, integration, and lifecycle support of heavy engineering equipment for military and national infrastructure programs.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Market Reaction: Shares of Ondas Holdings, Inc. (ONDS) rose nearly 1% post-merger and recorded a 16% increase in April, reflecting strong market confidence in its newly merged defense unit, Mistral, which is expected to drive further development in the defense sector.
- Technology Showcase: Mistral will showcase its battlefield drone technology at the 2026 Modern Day Marine symposium, aiming to engage with military operators and defense contractors to promote the application of its autonomous systems in U.S. defense programs, thereby enhancing the company's industry influence.
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- Merger Completion: Ondas recently completed its $175 million merger with Mistral, adding $264 million in contracted backlog and lifting Ondas' total backlog to $457 million, significantly strengthening the company's market position and future growth potential.
- Market Reaction: Shares of Ondas Holdings, Inc. (ONDS) rose nearly 1% post-merger and recorded a 16% increase in April, reflecting strong market confidence in its newly merged defense unit, Mistral, which is expected to drive further development in the defense sector.
- Technology Showcase: Mistral will showcase its battlefield drone technology at the 2026 Modern Day Marine symposium, aiming to engage with military operators and defense contractors to promote the application of its autonomous systems in U.S. defense programs, thereby enhancing the company's industry influence.
See More
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- Substantial Asset Increase: The company's total assets surged from CAD 34.6 million to CAD 99.8 million, marking a 188% increase, which underscores its strong momentum in expanding business and market share, thereby enhancing financial stability.
- Successful Acquisition Strategy: In 2025, ZenaTech completed 20 acquisitions, including 19 land surveying and inspection companies, significantly strengthening its global footprint in the DaaS sector and enhancing competitive positioning in the market.
- New Product Launches: The company introduced several new products, including the IQ Quad designed for land surveys and the IQ Aqua for underwater monitoring, further diversifying its product line and addressing the market's demand for efficient drone solutions.
See More
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- Market Growth Surge: The Drone as a Service (DaaS) market is currently valued at approximately $6 to $8 billion and is projected to surge to between $27 billion and over $179 billion by 2030, indicating strong long-term growth potential that is attracting significant business interest and investment.
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- Defense and Public Safety Demand: The application of DaaS in defense and public safety is increasing, with military and public safety agencies leveraging drones for surveillance and disaster response, and the rapid deployment capabilities provide a competitive edge in dynamic environments, further driving market expansion.
See More
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- Stock Selection Strategy: Jim Cramer emphasizes his reluctance to buy heavily shorted stocks, as they typically lack earnings, and he would only consider investing if they have life-saving potential, reflecting his cautious approach to risk.
- Ondas Evaluation: Cramer points out that Ondas is a company with significant losses focused on intelligent or autonomous systems, but he sees a lack of distinctiveness, indicating his preference for innovation in investment choices.
- Halliburton's Investment Potential: Cramer praises Halliburton for its strong performance even in a bad oil market, asserting that it has been a great stock in favorable conditions, highlighting its resilience and investment value in the energy sector.
- Nokia's Technological Edge: Cramer expresses optimism about Nokia, noting its strong technological capabilities, and despite past volatility, its comeback suggests market recognition of its technology, hinting at potential future growth.
See More
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- Mistral Acquisition: Ondas has completed a $175 million acquisition of U.S. defense contractor Mistral, enhancing its access to procurement channels within the U.S. Army and Special Operations, thereby enabling the company to provide fully integrated autonomous defense platforms, marking its transition from an early-stage tech identity to a mature defense contractor.
- Backlog Growth: The transaction adds approximately $264 million to Ondas' backlog, bringing the total backlog to around $457 million, which enhances the company's forward revenue visibility, particularly in targeting long-duration defense contracts.
- Optimistic Financial Outlook: Ondas has raised its 2026 revenue target to at least $375 million, with first-quarter 2026 revenue guidance between $38 million and $40 million, reflecting strong growth momentum in the defense sector, as fiscal 2025 revenue reached $50.7 million, marking a 605% year-on-year increase.
- Strong Market Performance: Ondas' stock has shown impressive performance in April 2026, with shares rising nearly 20% and an 8% year-to-date increase, driven by a series of major contract wins and acquisitions that further solidify its position in the U.S. defense market.
See More
ONDAS INC SUBMITS PROSPECTUS SUPPLEMENT FOR RESALE OF 1.5 MILLION SHARES BY SELECT STOCKHOLDERS ON APRIL 24, 2026 - SEC FILING
Resale of Shares: A filing has been made for the resale of 1.5 million shares on April 24, 2026, by certain stockholders.
SEC Filing: The details of the share resale are documented in a filing with the Securities and Exchange Commission (SEC).
See More
