West Palm Beach, Florida, March 10, 2026, 17:43 EDT
Ondas Inc on Tuesday announced its 4M Defense unit landed an initial $15.8 million order tied to an Israeli landmine-clearing effort, marking the first phase in a potential $60 million project. The contract involves removing explosives from about 740 acres near the Israel-Syria border, deploying autonomous ground vehicles, drones, and sensors for detection and clearance, the company said.
The timing of the award is notable—it comes just a day after Ondas issued a 2025 revenue outlook of $49.7 million to $50.7 million, a dramatic jump, nearly sevenfold what’s anticipated for 2024. The company also affirmed its 2026 sales goal of $170 million to $180 million. To put it in perspective, this latest contract alone is worth about a third of last year’s projected revenue, offering investors a tangible win amid the company’s more ambitious growth plans.
Ondas is looking to tighten its ties with U.S. defense buyers. On Monday, the company announced plans to merge with Mistral Inc., a contractor based in Bethesda, Maryland. The deal would make Ondas a direct prime contractor, letting it bid and contract with government agencies on its own—no more relying solely on third parties to reach U.S. military and public-safety markets.
The initial phase is set to last up to three years, targeting old minefields and unexploded ordnance along the border. “We’re pleased to begin execution of this important national demining project,” said Chief Executive Eric Brock. Oshri Lugassy, co-chief executive at Ondas Autonomous Systems, added that “smart demining technologies are transforming” the government’s approach to land-clearance efforts. ACCESS Newswire
Stifel’s Jonathan Siegmann pointed to stronger fourth-quarter revenue, along with the Mistral deal, as evidence supporting his upbeat outlook. Siegmann figures the two moves together could essentially double Ondas’s 2026 revenue and put the company on a quicker route to positive EBITDA—a metric that strips out financing, tax, and some non-cash costs.
Execution is the sticking point. According to a filing, the Mistral buyout comes as a $175 million all-stock transaction, slated to close in the second quarter if everything lines up. That implies fresh shares hitting the market for existing investors. Meanwhile, in other disclosures, Ondas projects a net loss for 2025 between $52.8 million and $53.3 million, with negative adjusted EBITDA ranging from $32.4 million to $32.9 million.
Ondas is stepping into a sector crowded with smaller public drone companies touting quick expansion. Zacks on Tuesday highlighted Red Cat Holdings and Unusual Machines as comparable names with notable revenue gains lately, but Ondas is aiming to combine that growth narrative with an acquisition designed to unlock procurement routes—not just boost product sales.
Ondas shares finished Tuesday up 2.98% at $10.01, having reached as high as $10.45 during the session, StockAnalysis data show.
