Ondas Secures First 4M Defense Demining Order as Analysts Reaffirm Buy Ratings

Overview

• On March 10, Ondas said its 4M Defense unit received the first operational order under Israel’s multi‑year national demining program.
• Company disclosures describe options to extend scope and timeline, with potential follow‑on phases that could lift total program value toward $60 million.
• One report characterizes the demining order as $30 million over its full life, creating a discrepancy with the company’s outlined upside potential.
• Following preliminary results, Ondas reported about $29.1 million to $30.1 million in Q4 revenue with a roughly $20.4 million to $20.9 million net loss, and $49.7 million to $50.7 million in 2025 revenue with a $52.8 million to $53.3 million net loss.
• Needham and Stifel reiterated Buy ratings on March 10 with price targets of $17 and $18, respectively, as the company pursues the $175 million acquisition of Mistral expected to close in Q2 2026.