NEW YORK, March 16, 2026, 11:49 a.m. EDT
Shares of Ondas Inc. ticked up roughly 2.2% by midday on the Nasdaq after the company wrapped up its purchase of UK-based Rotron Aerospace. In a separate SEC filing, Ondas also revealed it had acquired the final 30% stake in the parent firm of 4M Defense. The stock last traded at $10.38, having previously hit $10.82 earlier in the session.
Just ahead of Ondas’s March 25 earnings call, the company’s latest updates are likely to prompt questions from investors about the timeline for converting recent acquisitions into revenue. Last week, Ondas reported that preliminary 2025 revenue topped its January guidance and stuck to a 2026 revenue target of $170 million to $180 million. That figure doesn’t include acquisitions announced in 2026.
Ondas is bringing Rotron on board, picking up the UK firm’s unmanned aircraft, VTOL systems, engines, and propulsion tech—plus a launchpad for its push into the British market and NATO contracts. CEO Eric Brock called Rotron’s engineering team a “critical addition.” Gilo Cardozo, the founder and CTO, thinks the acquisition will help “scale our unmanned aircraft and propulsion technologies.” Ondas Inc.
There’s more detail in the 4M filing. Ondas disclosed it acquired the last 30% of the holding company behind 4M Defense from Nir Cohen, paying out 352,968 common shares and setting aside as much as $1.4 million in additional stock, contingent on certain milestones. According to the filing, the sellers face daily volume limits that restrict the amount of shares they’re able to offload during any given session.
That’s significant—4M isn’t waiting for contracts; it’s already on the job. Back on March 10, Ondas announced the unit secured a $15.8 million initial order as part of an Israeli demining program pegged at over $30 million. Future phases? They could push the total up to $60 million. Demining, in this context, refers to removing land mines and unexploded ordnance from dangerous terrain.
Rotron’s addition puts Ondas squarely up against AeroVironment and Kratos, both already entrenched in supplying unmanned systems to defense buyers. AeroVironment pitches itself as a defense-tech player spanning air, land, sea, space, and cyber. Kratos, for its part, claims leadership in high-performance unmanned platforms.
The risks are hard to ignore. Ondas put its preliminary full-year 2025 net loss between $52.8 million and $53.3 million, while its 2026 revenue forecast hasn’t factored in this year’s acquisitions. So investors are left looking for signs—how fast will the new assets fold in, and will share-based deals mean more dilution ahead?
Ondas plans to share its outlook for Rotron during the March 25 earnings call, alongside the release of its final fourth-quarter and full-year numbers. Monday’s news gave the shares a lift, suggesting investors liked what they heard. The big question now: can management back it up and detail Rotron’s impact on revenue?
