Ondas Holdings Inc.

Heidelberger Druckmaschinen Aktiengesellschaft is pursuing a strategy to expand beyond its traditional print and packaging equipment business while maintaining its full-year guidance following a first quarter marked by lower sales and profitability. Speaking at an mwb conference, Head of Investor Relations Marc Schellenberger said the company's "Driving High-Tech" strategy aims to apply its existing capabilities in mechanics, electronics, software, automation, manufacturing, service and systems integration to areas including defense, energy storage and e-mobility alongside its established printing operations. In its core Print & Packaging Equipment business, Heidelberg recently completed the acquisition of manroland sheetfed, which adds more than 3,000 customers and is expected to contribute a stable annual sales contribution of more than €100 million and an annual EBIT contribution of roughly €10 million to €15 million after a two-year integration period. The company also completed the acquisition of POLAR, a post-press systems specialist, and plans to relocate POLAR production activities to North Macedonia as part of a broader cost-optimization effort. In defense, Heidelberg signed a memorandum of understanding with Vincorion in July 2025 to develop, industrialize and build energy control and distribution systems, and the partnership has generated its first revenues. The company also signed a memorandum of understanding with Ondas in December 2025 for autonomous counter-drone solutions targeting critical infrastructure, with Heidelberg holding a 49% stake in the ONBERG joint venture and Ondas holding 51%. In energy storage, Heidelberg partnered with PHENOGY to pursue a European industrial platform for sodium-ion battery technology, with the companies considering a 50/50 joint venture if a testing period concludes positively. For the first quarter of fiscal 2026/2027, Heidelberg reported a 4% decline in order intake to €537 million, reflecting the end of an Italian incentive program, while its order backlog rose to €762 million and the book-to-bill ratio was approximately 1.3. Net sales declined 30% to €404 million, adjusted EBITDA margin fell to 2.0% from 4.4% a year earlier, and free cash flow was negative €77 million. Heidelberg confirmed its full-year guidance, citing its order backlog, cost discipline and demand momentum in China and the U.S.

Ondas Inc. has entered into a definitive agreement to acquire Aran Defense Ltd., the defense-focused division of Aran Ltd., for approximately $33 million in cash or Ondas common stock. The acquisition is expected to significantly expand Ondas' local manufacturing and industrialization capacity in Israel, providing dedicated engineering, integration and production resources to support increasing demand across the Company's autonomous defense businesses. Aran Defense generated approximately $17 million of revenue in 2025, compared with approximately $12 million in 2024, and expected revenue of approximately $26 million in 2026 with positive Adjusted EBITDA. The transaction represents approximately 1.3 times expected 2026 revenue and is expected to close during Q3 2026. Aran Defense operates approximately 4,400 square meters of engineering and manufacturing facilities in Israel and supports programs for governmental customers in Israel as well as leading international defense companies.

President Trump's proclamation imposing tariffs on imported drones and unmanned aircraft parts sent shares of Unusual Machines soaring 22% to $33.24 midday Friday, while Red Cat Holdings climbed 8% to $11.02 and Ondas Holdings rose 4% to $9.27. The tariffs, which include a 100% duty on larger drones and certain key parts and a 25% duty on smaller drones and additional components, take effect 21 days after the proclamation, with duties on less-sensitive components delayed 180 days. AeroVironment and Kratos Defense & Security Solutions gained just 1% and 2% respectively, as established Pentagon contractors face less import competition and benefit less from the tariffs. Unusual Machines had already surged 114% year to date before Friday's spike, raising the valuation bar for investors chasing the tariff-driven rally.

Ondas reported record second-quarter revenue of $83.8 million, up 67% from the first quarter and more than 13 times the $6.3 million it generated a year earlier. The company raised its full-year 2026 revenue target to a range of $525 million to $550 million, representing a greater than 10-fold increase from 2025 results, and expects third-quarter revenue between $140 million and $155 million. Ondas secured $175 million in new orders during the quarter, with backlog reaching approximately $613 million as of June 30, 2026, up from $457 million on a pro forma basis at the end of the first quarter and $68 million at year-end 2025; including the DZYNE Technologies and Cyberhawk acquisitions, pro forma backlog stood at approximately $757 million. The company posted a net loss of $89.7 million, compared with a net loss of $10.8 million a year earlier, while adjusted EBITDA loss was $50.6 million versus a loss of $5.8 million in the second quarter of 2025. Ondas ended the quarter with $1.4 billion in cash, cash equivalents, restricted cash, and short-term investments, and said it now expects to reach adjusted EBITDA profitability at its operating platform level by the fourth quarter of 2026 and company-wide adjusted EBITDA profitability by the fourth quarter of 2027.

Ondas stock surged 10.4% after the defense contractor announced it secured $70 million in new orders over the past four weeks for drones, counter-drone systems, and other autonomous defense technologies. The total includes a previously disclosed $6.9 million counter-UAS order for Australia. The $70 million in bookings compares to just $6.3 million in total sales for the second quarter of last year. Analysts forecast Ondas will not achieve consistent profitability and positive free cash flow until 2029.

Ondas Inc. has acquired DZYNE Technologies in a deal valued at $875.8 million, expanding its portfolio across multi-domain ISR, counter-UAS, precision strike, mission intelligence and autonomous systems for U.S. and allied defense customers. The company created a dedicated operating division called Ondas Sentinel to integrate DZYNE and World View, unifying its growing U.S. portfolio of autonomous defense technologies. Ondas Chairman and CEO Eric Brock stated that DZYNE significantly strengthens Ondas' financial profile, adding substantial scale and revenue growth, and noted that DZYNE is EBITDA positive with a strong and growing margin profile, accelerating Ondas' path towards profitable, long-term growth.

Ondas Inc. has received over $40 million in new orders for autonomous defense systems in June from governmental and defense clients in various international markets. The orders comprise ground systems, Loitering Munition Systems, Counter-UAS solutions, and associated defense solutions. When combined with previously announced awards, Ondas' order activity for the second quarter exceeds $150 million. The company notes that high demand for scalable, affordable autonomous defense technologies is being driven by increasing global defense budgets and lessons from recent conflicts.

Ondas Holdings announced that its subsidiary Sentrycs has collaborated with Lockheed Martin to integrate Sentrycs' Cyber-over-RF technology into Sanctum, Lockheed Martin's next-generation Counter-Unmanned Aerial Systems solution. The integration adds a cyber-based detection and mitigation layer that enables operators to detect, identify, track, and take control of unauthorized drones without jamming or kinetic engagement, guiding them to a controlled landing. Sanctum is designed to counter complex threats including drone swarms by combining artificial intelligence, cloud-enabled data fusion, and a modular defense architecture. Management stated the collaboration creates a stronger, more comprehensive operational capability for countering evolving aerial threats. Ondas is benefiting from robust demand for its ISR and counter-UAS solutions, supported by higher defense spending and expanding market opportunities.

Lockheed Martin has secured a seven-year U.S. contract worth up to $35 billion to scale production of its THAAD interceptor system. The company also signed an $8.4 billion extension for Precision Strike Missile production and new multi-year partnerships, including work with GM Defense and Ondas Holdings' Sentrycs unit on counter-drone technology. These agreements aim to address munitions shortages, ease defense production bottlenecks, and expand next-generation counter-UAS capabilities. Lockheed Martin shares are at $491.64, down 7.8% over the past month despite gains of 10.1% over the past year and 48.7% over five years.

Energy expert Andy Lubershein argues that the Pentagon’s willingness to pay a premium for triple-density batteries could make military drones the unlikely catalyst for next-generation battery technology, solving a funding problem that electric vehicles never could. Lubershein noted on the Catalyst with Shayle Kann podcast that defense has a high willingness to pay for performance, and while automakers would balk at paying four times the price for triple the energy density, the Pentagon would not. The U.S. Department of Defense is already pursuing a 2,000 watt-hour per kilogram battery initiative driven predominantly by drone applications, and the proposed FY2027 autonomous systems budget includes $54.0 billion, with $39.2 billion tied to a multi-year Drone Dominance mandatory funding request. Drone-makers AeroVironment, Ondas Holdings, and Red Cat Holdings stand to benefit indirectly through stronger procurement budgets and pull-through demand. AeroVironment reported a record $1.10 billion funded backlog and Q3 FY2026 revenue of $408.05 million, up 143.4% year over year. Ondas posted Q1 2026 revenue of $50.12 million, a 1,079.8% jump, and raised its FY2026 target to at least $390 million. Red Cat delivered Q1 FY2026 revenue of $15.47 million, up 849.3%, with a gross margin swing to 12.7% from negative 52.1%.