West Palm Beach, May 11, 2026, 14:06 EDT
Ondas Inc. climbed over 4% on Monday, with traders angling ahead of the defense-technology firm’s first-quarter earnings due this week and digesting new SEC filings linked to its brisk M&A streak. Shares last traded at $9.46, just below the session peak of $9.48.
This shift is significant: Ondas isn’t just a minor player in wireless and drones with a backlog anymore. Over the last few months, the company’s been pushing to become a more comprehensive defense and autonomous systems platform. It’s been spending cash and issuing stock to snap up assets across drones, robotics, counter-drone tech, and high-altitude intelligence.
Ondas plans to release its first-quarter results ahead of a conference call scheduled for May 14 at 8:30 a.m. Eastern. The company, which focuses on autonomous systems, robotics, and mission-critical connectivity for defense, security, and industrial clients, shared the update.
According to a May 8 SEC filing, Ondas registered 6,351 shares for resale by select stockholders tied to its World View Enterprises buyout—World View being the high-altitude balloon and remote-sensing outfit it recently acquired. A different May 8 prospectus supplement, this one related to the Mistral deal, noted Ondas issued a fourth batch of 2.79 million shares; selling stockholders now have the option to unload any or all of those registered shares as they choose.
That shifts the conversation to dilution, not just growth. According to the Mistral filing, selling stockholders are capped at 10% of the average daily volume, based on the past 10 trading days. Even so, the registration introduces a short-term overhang in share supply as the company works to show that all its recent acquisitions can actually drive revenue.
Ondas wrapped up its $175 million merger with Mistral Inc. on April 24, saying the tie-up puts the company in position as a direct prime contractor for U.S. Army and Special Operations contract vehicles. The company pointed to its new access to IDIQ contracts—those umbrella awards that allow the government to order as needed, over time.
Chief Executive Eric Brock, announcing the merger, said Mistral offers Ondas “established access to key contract vehicles” and a domestic base for manufacturing and integration. Ondas reported that Mistral’s addition boosted backlog by roughly $264 million, bringing pro forma backlog — including Mistral and World View adjustments — to $457 million as of March 31. Ondas Inc.
Competition is intensifying. Back in March, Kratos Defense & Security Solutions landed a $7 million production deal to supply counter-UAS systems—these are designed to spot and identify drones and similar threats. Last week, AeroVironment announced the U.S. Army tapped its Switchblade 400 loitering munition for the LASSO program.
Ondas is looking to capture that demand with a wider lineup. The company’s autonomous systems arm covers drone platforms, ground robots, and counter-drone gear. Ondas Networks, on the other hand, focuses on private wireless systems tailored for industrial clients—think railroads and utilities.
The company’s full-year filing laid bare a rapid shift in its business model. Fourth-quarter 2025 revenue jumped to $30.1 million, up from $10.1 million in the previous quarter, with Ondas Autonomous Systems shipments and recent acquisitions providing the lift, the March filing showed. Oshri Lugassy, co-CEO at Ondas Autonomous Systems, said the unit ended 2025 carrying “a significantly expanded backlog,” noting that customers want “unified, mission-ready solutions rather than point technologies.”
Execution’s the hurdle now. Ondas snapped up Sentrycs, Roboteam, Rotron Aerospace, Bird Aerospace, INDO Earth, World View, and Mistral—all within a tight span. The company needs to juggle integration, share issuance, contract schedules, and whatever investors are bracing for, right before Thursday’s numbers hit.
