US Defense Drone Company Strengthens $2 Billion Cash Resilience Through Prime Acquisition

Ondas Inc. (NASDAQ: ONDS), a U.S. defense and drone technology company, has signed a merger agreement to acquire Mistral, a prime contractor to the U.S. Department of Defense. The deal will give Ondas direct prime-contractor access to U.S. Army and special-operations contracts and significantly expand its domestic manufacturing, systems-integration and federal-procurement infrastructure.

Despite extending its net loss, the company’s preliminary fourth-quarter and full-year revenues exceeded guidance. For 2026, Ondas projects revenues of $170 million to $180 million (approximately KRW 220–230 billion). Following a large funding round in January, the company holds over $1.5 billion (roughly KRW 2 trillion) in cash and cash equivalents. In February, Ondas granted Chairman and CEO Eric A. Brock 13.5 million restricted stock units vesting through 2029, restructuring its long-term executive-incentive program.

In January, Ondas completed a registered direct offering of shares and pre-funded warrants totaling about $1 billion (around KRW 1.3 trillion), securing the capital needed for defense and drone acquisitions and growth. Since then, it has made a strategic $10 million (approximately KRW 13 billion) investment in stratospheric platform provider WorldView and secured a multiyear, over-$30 million (about KRW 40 billion) mine-clearing contract in Israel, broadening its defense and security order pipeline. (Source: investing.com)

Ondas supplies autonomous aerial and ground robotic platforms alongside commercial and industrial wireless-network solutions. It focuses on the defense and security market, where demand for unmanned reconnaissance, surveillance and border/facility protection is rising. Across the defense and drone technology sector, budgets for reconnaissance, mine-clearing and border surveillance have expanded following the Ukraine war and Middle East conflicts, driving an increase in mid- to long-term procurement projects by the U.S. Department of Defense and allied governments.