New York, May 24, 2026, 11:01 EDT
Ondas Inc. started the abbreviated U.S. trading week facing more pressure on its shares. The autonomous-systems firm just finished a $196.6 million all-stock buyout of Israel’s Omnisys and registered shares for resale from recent transactions.
Nasdaq is shut for Memorial Day, so trading for ONDS doesn’t pick up again until Tuesday. Nasdaq’s calendar lists May 25 as a market holiday with regular session hours set for 9:30 a.m. to 4 p.m. ET.
Ondas shares finished Friday at $9.06, falling 1.31%. Roughly 59.35 million shares traded, market data from the company’s investor site showed. The Nasdaq Composite ended up 0.19% on Friday, so ONDS trailed the index going into the long weekend.
Omnisys was the big event last week. Ondas in a May 21 filing said it bought all of the Israeli company for around $196.6 million in stock. That included $25.52 million in stock issued and $3.48 million escrowed at the deal’s close. Another $142.5 million in stock will come later, in five equal installments after closing.
The filing put a daily selling cap for Omnisys sellers at 15% of average daily trading volume. It also said Ondas would file prospectus supplements for resale of both the issued and later stock consideration. A resale registration allows holders to sell registered shares in the market, but that does not mean they’ll all sell right away.
Ondas disclosed in a May 22 filing that 2.74 million shares tied to its earlier Mistral deal are set up for resale. The company said it won’t get any proceeds from selling stockholders, something investors track since it means these transactions bring in no new funds for Ondas.
Ondas said Omnisys is bringing in the Battle Resource Optimization, or BRO, software to handle real-time planning and resource moves for military uses. The Jerusalem Post said Friday Omnisys has about 185 staff in Israel and builds AI-driven software for multi-mission, multi-domain defense.
Omnisys should bring in over $100 million in revenue for 2026 and 2027, according to the company’s acquisition fact sheet. The same document said BRO would act as a mission-optimization layer on Ondas systems, putting the company on track for a defense platform with a bigger focus on software.
That’s the bull case. Ondas revenue jumped 1,065% in the first quarter to $50.1 million. The company now sees 2026 revenue at a minimum of $390 million, and put pro forma backlog at $457 million. Still, adjusted EBITDA stayed negative at a $10.9 million loss.
Ondas CEO Eric Brock said the backlog gave the company “strong visibility into our 2026 targets.” Oshri Lugassy, co-CEO at Ondas Autonomous Systems, said Ondas was delivering “combat-proven, multi-layered solutions.” Cloudfront
Defense autonomy and battlefield software are the key themes. Ondas is linked to Palantir Technologies through an AI partnership. AeroVironment is another drone tech stock in the same space. After Ondas reported first-quarter results, Barron’s said Palantir gained 2.8% and AeroVironment added 2.7% on a day when the iShares U.S. Aerospace & Defense ETF lost 0.6%.
Analysts kept a positive stance heading into the break. Benzinga data shows Buy consensus, an average price target at $17.50, and Needham sticking with its Buy at a $23 target on May 19. These are just sell-side estimates, not guarantees.
Dilution and integration are front and center for Ondas. The company used stock to fund its expansion, and both Omnisys and Mistral sellers now have ways to resell, though capped by daily limits. If defense orders hit a lull, integrations turn rough, or the market thinks there’s too much stock overhang, shares might not get traction even if revenues move higher.
U.S. markets open again this week after the Memorial Day break. Ondas plans its annual meeting for Thursday, starting at 10 a.m. EDT. The company is urging registered shareholders from April 9 to cast their votes to secure a quorum.
