Ondas Inc. has secured new orders exceeding $40 million in June for its autonomous defense systems, including Counter-UAS solutions, loitering munition systems, ground systems, and related defense services. These awards reflect continued demand from governments and defense forces responding to evolving threats from unmanned aerial systems and the need for long-range precision strike platforms. The company has now secured more than $150 million in orders and awards during the second quarter of 2026, building on over $30 million in orders announced in May across air defense, autonomous ISR, robotic systems, and precision engagement technologies.

Eric Brock, Chairman and CEO of Ondas, stated that the June orders demonstrate increasing demand for autonomous defense technologies capable of addressing modern warfare realities. He highlighted that Counter-UAS has become an urgent priority globally, with the next major wave of demand forming around Loitering Munition Systems (LMS) and affordable long-range precision engagement. This demand is particularly visible across Europe and the United States, where allied defense customers are strengthening both defensive and offensive autonomous capabilities.

A key component of Ondas' LMS strategy is its wholly owned UK-based subsidiary, Rotron Aerospace Ltd. Rotron recently completed a successful flight trial of its SkyLance system under the UK Ministry of Defence's Project Brakestop. SkyLance is a one-way-effect system designed to combine substantial operational range with precision engagement capability. The trial validated core technologies supporting the SkyLance platform and demonstrated Rotron's ability to rapidly deliver advanced capability in support of sovereign UK defense priorities.

SkyLance is designed, developed, and manufactured in the United Kingdom, providing sovereign control over critical propulsion, platform, and integration technologies. Rotron's operating model enables it to deliver advanced long-range strike capability at lower cost and greater speed than traditional procurement models. Ondas believes these characteristics are important as governments seek to replenish defense stockpiles, deploy autonomous strike capabilities at scale, and reduce reliance on legacy systems.

Ondas' autonomous defense platform supports the convergence of detection, intelligence, protection, and engagement capabilities. The company's C-UAS technologies address hostile drone threats, while its LMS capabilities provide scalable precision strike options. These systems are supported by Ondas' broader technology base across aerial intelligence, robotic platforms, electronic warfare technologies, and AI-powered command-and-control software.

Ondas Inc. has agreed to acquire Cyberhawk, a global leader in critical infrastructure intelligence, for approximately $125 million. The transaction, valued at about $125 million, is 95% cash funded and aims to expand Ondas' dual-use capabilities by integrating Cyberhawk's autonomous infrastructure intelligence platform. This platform combines scaled drone inspection services, AI-enabled asset analytics, and enterprise visualization software. The acquisition is expected to close during the third quarter of 2026, subject to customary closing conditions and regulatory approvals.

Under the terms of the definitive agreement, certain members of the Cyberhawk leadership team will roll approximately $5 million of proceeds into Ondas common stock. This equity will be subject to a one-year lock-up period, with certain exceptions. At the end of the first quarter, Ondas reported approximately $1.48 billion in cash, restricted cash, and short-term investments.

Key Financial and Operational Metrics

The following table outlines the key financial and operational metrics associated with Cyberhawk:

Cyberhawk's financial profile includes forecasted revenues of over $45 million for the fiscal year ending March 2027. The company reports that approximately 95% of its revenue is recurring, supported by a blue-chip customer base. Additionally, Cyberhawk holds a backlog of $95 million. Management believes the current high single-digit EBITDA margins can expand to over 25% by 2030, driven by operational efficiencies and scale.

Strategic Rationale

The acquisition aligns with Ondas' strategy to enhance its autonomous systems and next-generation defense and security technologies. By integrating Cyberhawk's drone-based inspection and visual data management capabilities, Ondas aims to deliver comprehensive solutions for critical infrastructure markets. The deal is expected to drive growth through cross-selling opportunities and expanded geographic reach.

Cyberhawk serves more than 300 customers across 40 countries, including PG&E, Southern California Edison, Shell, SSE, ESB, Qatar Energy, and Bechtel. The company has inspected more than 500,000 infrastructure assets and built a proprietary database exceeding 232 terabytes to support AI-driven analytics.

"The company has built a highly differentiated platform combining software, data, AI-enabled analytics, and deep domain expertise across some of the world’s most important utility and energy networks," Ondas Chairman and CEO Eric Brock said. "The acquisition will significantly expand Ondas’ presence in critical infrastructure markets while strengthening our position as a dual-use technology company serving defense, security and industrial customers."

"Today, we’re excited to join forces with Ondas to accelerate the adoption of this technology – improving data quality while fundamentally reducing risk and human exposure across critical infrastructure," Cyberhawk founder and CEO Chris Fleming said. Lincoln International LLP served as the exclusive financial advisor to Cyberhawk shareholders.