ONDS Stock Rises After $50M Army Order Lifts Mistral Awards Above $240M

The new order extends production already underway for deliveries scheduled in the third quarter of 2026.

• The U.S. Army expanded its tactical drone orders with another $50 million award to Mistral.
• The latest task order increases Mistral's total awards to more than $240 million under the Army's multi-year program.
• Ondas has rapidly expanded its defense business through the acquisitions of Mistral and DZYNE Technologies this year.

Shares of Ondas ($ONDS) gained in Wednesday’s opening trade after the company said its defense subsidiary, Mistral, had secured an additional $50 million order from the U.S. Army for tactical Lethal Unmanned Systems (LUS) under an existing multi-year contract worth $982 million. 

ONDS stock edged 1.5% higher in morning trade and was among the top trending tickers on Stocktwits at the time of writing. Retail sentiment around the company improved to ‘bullish’ from ‘neutral’ territory over the past day.

Army Drone Orders Top $240 Million

The latest award builds on an initial $190.8 million LUS order announced earlier this year, bringing Mistral’s total awards under the Army program to more than $240 million, according to the company. 

Ondas said production is already underway for systems scheduled for delivery in the third quarter of 2026, and the new task order extends that production runway under the same Army contract vehicle.

Ondas Expands Defense Business Through Acquisitions

The contract win comes amid a series of moves aimed at transforming Ondas into a broader defense technology platform. In April, the company completed its $175 million merger with Mistral, adding a U.S.-based defense contractor with established relationships across the Army and U.S. Special Operations.

In July, Ondas announced an $875.8 million cash-and-stock acquisition of DZYNE Technologies, adding long-endurance intelligence, surveillance, and reconnaissance aircraft, counter-drone systems, and autonomous defense technologies under a new Ondas Sentinel division.

Earlier this week, the company appointed former Mossad director David Barnea as Global President and Chairman of Ondas Defense, with responsibility for international expansion, technology development, and government relationships across the Middle East, Europe, and Asia.

ONDS stock has fallen over 10% this year but gained over 200% in the last 12 months.