NEW YORK, August 6, 2026, 04:08 EDT
- Shares of Ondas ended Wednesday at $8.87, rising 0.1% following news of receiving an Army contract worth over $50 million.
- The purchase represents over 98.6% of Ondas’ projected 2025 revenue, according to previously reported numbers.
- Ondas Inc. is scheduled to release its second-quarter results on August 13. Analysts currently expect a per-share loss of $0.10.
Nasdaq’s regular session remained closed, but premarket trading was underway. Ondas shares were quoted at $8.78 in premarket trading, a decrease of 1.0%. The stock finished at $8.87 on Wednesday.
Ondas Inc. NASDAQ:ONDS landed a new U.S. Army contract valued at over $50 million. The deal comes close to equaling the company’s total revenue forecast for 2025. Despite this, shares edged up just one cent. The tepid move highlights investors’ focus on realized sales rather than new orders.
The order falls within a multi-year contract worth $982 million. Altogether, contracts granted to Ondas subsidiary Mistral have topped $240 million. Manufacturing related to the first $190.8 million award has started. The start of deliveries is set for this quarter.
Uvision, a partner company, stated the latest order includes HERO 120 loitering-munition systems along with associated equipment. The systems are being produced locally to support Army training and boost operational preparedness.
| Contract and revenue marker | Value | Investor comparison |
|---|---|---|
| Army delivery order secured | Above $50 million | Exceeds 98.6% of forecast 2025 revenue |
| Aggregate Mistral LUS contracts | Over $240 million | Over 4.7 times projected 2025 revenue |
| 2026 Q1 revenue | $50.1 million | 9.5% of current 2026 projection |
| 2026 revenue projection | No less than $525 million | More than tenfold 2025 revenue |
Sources: Ondas official releases and SEC documents. Ratios calculated in this article reflect the minimum values for orders provided.
The calculation is straightforward. Deducting first-quarter revenue from the yearly goal results in at least $474.9 million. This translates to an average of $158.3 million for each of the remaining three quarters. This figure serves as a basic benchmark, not as guidance from the company.
The timing of the acquisition will result in an uneven comparison. Ondas completed its acquisition of DZYNE on July 2. The upcoming results reflect the quarter ended June 30, so DZYNE will not be consolidated as an Ondas subsidiary in this period.
The $525 million objective covers DZYNE and Omnisys. According to Ondas, DZYNE was projected to reach $191 million in revenue for the full year 2026 and to maintain a positive EBITDA. These are internal company projections.
Chief Executive Eric Brock stated, “Our focus now is on execution.” He noted that Mistral’s existing production levels are expected to enable deliveries to start this quarter. Ondas Inc.
Trading among peers on Wednesday provided a notable comparison.
| Company | August 5 close | Daily move | Immediate context |
|---|---|---|---|
| Ondas Inc. NASDAQ:ONDS | $8.87 | +0.11% | Army secures order exceeding $50 million |
| Kratos Defense & Security Solutions NASDAQ:KTOS | $55.34 | +6.73% | Q2 performance and raised outlook |
| AeroVironment Inc. NASDAQ:AVAV | $168.06 | -0.58% | Peer in autonomous systems |
| Red Cat Holdings Inc. NASDAQ:RCAT | $8.66 | -2.31% | To report earnings August 6 after market close |
Information from market close figures, corporate statements and disclosed earnings results.
Kratos posted quarterly revenue of $458.8 million, surpassing the consensus estimate of about $410 million. The company also increased its full-year sales outlook. Shares climbed 6.7%, while Ondas shares ended unchanged. The market response indicates investors favored reported sales figures over new order bookings.
Ondas shares were little changed on Wednesday after a recent rally. Shares climbed 18.4% between July 31 and August 5. Trading volume Wednesday was 108.98 million shares, around 28% higher than the 65-day average.
The upcoming test is scheduled for August 13 at 8:30 a.m. EDT. Analysts are projecting a loss of $0.10 per share; three months earlier, the forecast was for a $0.06 loss. Management earlier stated that adjusted EBITDA losses were expected to reach their highest level in the second quarter.
| Analyst measure | Current | Three months ago |
|---|---|---|
| Buy recommendations | 9 | 8 |
| Hold recommendations | 0 | 1 |
| Sell recommendations | 0 | 0 |
| Consensus | Buy | Buy |
| Low price target | $16.00 | — |
| Median price target | $19.00 | — |
| Average price target | $19.81 | — |
| High price target | $25.00 | — |
Source: WSJ market data, compiled from analyst information.
The consensus price target represents a 123% gain from Wednesday’s closing price. The most conservative estimate is still roughly 80% above that level. These numbers suggest analysts maintain an optimistic outlook. However, they do not guarantee that orders will meet expected timelines.
Risks: The $982 million represents the maximum potential value of the contract, while the most recent order placed is over $50 million. Actual revenue remains contingent on successful production and fulfillment. Ondas reported a $10.9 million adjusted EBITDA loss for the first quarter. As part of the DZYNE transaction, roughly 40 million shares were issued immediately, with an additional 45 million shares scheduled for release on January 4, 2027.
The report due August 13 has limited scope. Ondas needs to demonstrate its previous portfolio is gaining scale ahead of DZYNE’s inclusion in reported figures. Securing another sizable order might not suffice. Investors are looking for conversion.
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