NEW YORK, June 18, 2026, 09:06 EDT
- Ondas has a deal to acquire Cyberhawk for roughly $125 million, mainly in cash. The companies expect to close in the third quarter.
- Cyberhawk is expected to deliver over $45 million in revenue for the fiscal year ending March 2027. About 95% of that is recurring, and its backlog stands at $95 million.
- Ondas shares looked set to open higher in premarket trading ahead of the Nasdaq bell. U.S. markets are set to close Friday for Juneteenth.
Ondas Inc. shares traded actively early Thursday. The drone and autonomous-systems company said it will acquire Cyberhawk Holdings Ltd. for roughly $125 million. The deal is meant to bring in infrastructure-inspection software, more utility customers, and steadier repeat revenue for Ondas’ defense and industrial holdings.
Timing is key here. Ondas has been working this year to pull together its drone, counter-drone and robotics pieces into a larger systems play. The Cyberhawk deal adds a commercial infrastructure angle as investors watch both defense-drone demand and how stable small-cap tech revenue really is. The stock ended Wednesday at $9.12. Shares were up about 3% premarket after the news, according to Investing.com. Nasdaq regular hours are 9:30 a.m. to 4 p.m. Eastern.
Cyberhawk uses drones and its own data software to check utility, energy and industrial assets. Ondas said Cyberhawk works in 40 countries and has over 300 customers. The company has inspected 500,000 infrastructure assets so far. Ondas said Cyberhawk has more than 232 terabytes of data from these inspections. That data can be used in artificial-intelligence systems—software that scans big datasets for patterns and defects.
Ondas is funding 95% of the deal in cash. Cyberhawk leaders are set to roll about $5 million of what they get into Ondas common stock with a one-year lockup. The companies aim to close in the third quarter, pending regulatory signoff and standard conditions. Ondas filed an 8-K to the U.S. Securities and Exchange Commission on Thursday with the press release, a fact sheet and an updated investor deck.
Chief Executive Eric Brock said Cyberhawk is a “transformative addition” for Ondas, bringing the company deeper into critical infrastructure and holding its position in defense and security. Chris Fleming, who founded and leads Cyberhawk, said the deal should accelerate use of drone inspection and cut “risk and human exposure” at dangerous sites.
The deal leans on numbers. Cyberhawk’s revenue is forecast at more than $45 million for the year ending March 2027. EBITDA margins are in the high-single digits. (EBITDA stands for earnings before interest, taxes, depreciation and amortization — it’s a measure of operating profit before some accounting and debt costs.) Ondas said about 95% of Cyberhawk’s revenue is recurring from contracts and subscriptions. The backlog is $95 million.
For investors, this deal goes beyond purchasing drone flights. The question is whether Ondas can layer software and analytics onto the routine field work utilities and energy names do anyway. That’s where the deal looks more straightforward: Cyberhawk has customers, data, and an inspection workflow, while Ondas has the autonomous systems and a balance sheet with $1.48 billion in cash, cash equivalents, restricted cash and short-term investments as of March 31.
The competitive lineup is changing. AeroVironment is a top supplier of unmanned systems and loitering munitions, Red Cat pushes into small drones and robotic gear for defense and security, and Skydio pitches its autonomous drones to utility companies. Ondas aims to get in the middle, working both defense-grade autonomy and recurring software for utility inspection and asset tracking.
There’s obvious risk here. The deal isn’t done yet, and Ondas (ONDS) will need to spend the cash smartly. Cyberhawk’s margin plans count on Ondas being able to convert service work and inspection data into more software sales. In May, Ondas said it expects adjusted EBITDA losses to stay high through the second quarter and does not see adjusted EBITDA across the company turning positive before the first quarter of 2028.
There’s a calendar quirk this week. Thursday marks the final full U.S. trading session before Juneteenth, with Nasdaq showing Friday, June 19, 2026, as a market holiday. That could squeeze trading around any new corporate headlines, though it doesn’t really address the chances for the deal’s success.
