Ondas Inc. (NASDAQ:ONDS) shares climbed about 4% on Tuesday after the company said its subsidiary, 4M Defense, secured a $15.8 million initial contract under a demining program in Israel.
The order represents the first stage of a broader national land-clearing initiative valued at more than $30 million. Additional phases could add another $30 million in contracts over the coming years, bringing the potential total value of the program to roughly $60 million if all stages are authorized.
The project focuses on clearing legacy minefields and unexploded ordnance across roughly 740 acres near the Israel-Syria border. As part of the operation, 4M Defense plans to deploy autonomous robotic systems, aerial drones and advanced sensing technologies to map terrain, detect explosives and neutralize potential threats. The initial execution phase is expected to last up to three years, with options to extend the timeline or expand the project’s scope.
In a separate development, Stifel analyst Jonathan Siegmann reiterated a Buy rating on Ondas with an $18 price target.
Siegmann noted, “Better Q4 revenues + adding new manufacturing platform validates positive thesis. This morning ONDS pre-announced better-than-expected Q4 revenues (+600% YoY) and more importantly, announced a $175m merger with Mistral, Inc – an established privately owned integrator for the Department of War, other government agencies, and prime contractors. ONDS and Mistral overlap in multiple verticals across drones, C-UAS, and robotics. Financial details for the merger were not disclosed but by our estimates this combination likely ~doubles ONDS’s 2026 revenue base and accelerates the company reaching positive EBITDA earlier into 2026.”
Ondas operates through two main business segments: Ondas Autonomous Systems, which develops aerial and ground-based robotic intelligence solutions, and Ondas Networks, which provides private wireless communications platforms. The company is working to build an integrated autonomous technology ecosystem aimed at defense and security applications, including border monitoring, counter-drone systems, robotics-enabled ground missions and land-clearance operations.