NEW YORK, March 11, 2026, 09:33 EDT
Shares of Nasdaq-listed Ondas Inc. climbed early Wednesday, after the company announced its acquisition of BIRD Aerosystems—bringing new airborne missile-defense and surveillance capabilities into the fold, and extending a recent streak of deal activity. The stock traded 1% higher at $10.11 in premarket action as of 9:04 a.m. EDT, following a 2.98% gain to $10.01 at Tuesday’s close.
That’s notable: Ondas has dropped big defense news three days running, and now investors are watching to see if the small-cap can actually convert deals and incoming orders into steady top-line gains.
Ondas reported that BIRD’s protection systems are already flying on more than 700 aircraft, spanning over 40 different models in service with the U.S. Army, NATO, several Asia-Pacific air forces, and U.N. aviation groups. The acquisition adds missile-defense technology for both drones and piloted planes, plus ISR—intelligence, surveillance and reconnaissance—systems. CEO Eric Brock described BIRD as “an important and highly differentiated capability.” Ondas Inc.
The $15.8 million contract announced Tuesday landed via 4M Defense, Ondas’s demining arm based in Israel. According to the company, this is just the first phase of a broader land-clearance push near the Israel-Syria border, a project valued at more than $30 million—and possibly stretching to $60 million in total. 4M is set to deploy robots, drones, and specialized sensors to locate and defuse explosives in the area. “Smart demining technologies are transforming the way governments approach land-clearance missions,” said Oshri Lugassy, co-CEO of Ondas Autonomous Systems. Ondas Inc.
Ondas said Monday it expects fourth-quarter revenue to land between $29.1 million and $30.1 million, edging past earlier projections. For all of 2025, the company now anticipates revenue of $49.7 million to $50.7 million—again beating its previous forecast. The 2026 revenue target is unchanged at $170 million to $180 million, a figure that does not count acquisitions revealed this year.
That day, the company struck a deal to acquire private U.S. defense firm Mistral, paying $175 million in stock. Ondas said taking over Mistral puts it in position to land work at the Pentagon as a prime contractor—letting it pitch bids directly to the government, no middleman required—and opens the door to over $1 billion in Defense Department contract vehicles and programs.
Stifel’s Jonathan Siegmann kept his Buy call and held the $18 target following the merger and revenue update. “Better Q4 revenues + adding new manufacturing platform validates positive thesis,” Siegmann said. He noted the merged company could nearly double Ondas’s 2026 revenue base and potentially deliver positive EBITDA—operating profit before interest, taxes, and non-cash charges—sooner, within 2026. Investing.com
Defense-drone stocks haven’t all tracked together. AeroVironment slid roughly 10% in premarket trading Wednesday following its outlook cut. On Tuesday, according to Barron’s, shares of both AeroVironment and Kratos Defense also declined.
Ondas is moving fast, but there’s risk in that speed. According to a filing, the Mistral merger still isn’t a done deal—closing conditions remain, and there’s a May 9 outside date. Since the entire purchase is in stock, shareholders could see dilution, especially if integration drags or new orders take longer to translate into revenue than optimistic estimates suggest.
March 25 is circled as the next crucial date. That’s when Ondas will deliver its final 2025 results and share new outlook details for BIRD. For investors watching to see if the company’s push into defense is translating into actual bookings, this update may matter more than whatever headlines cross the wire.
