Ondas acquired autonomous aerial systems developer DZYNE Technologies on Monday and raised its fiscal 2026 revenue guidance to $525 million, up from a previous forecast of $390 million. The defense firm paid $875.8 million in total consideration, comprising $200 million in cash and approximately 85 million shares valued at $675 million. This marks Ondas' second major acquisition this year, following the buyout of Mistral in March.
Ondas Structures $875.8M Transaction With Cash And Stock
Ondas paid a total consideration of $875.8 million for DZYNE Technologies, funding the transaction with $200 million in cash and approximately 85 million shares valued at $675 million. DZYNE shareholders will own about 13.8% of Ondas' outstanding shares after the completion of the transaction.
"We structured this transaction to take the majority of our consideration in Ondas equity because we believe in the long-term value of the combined platform," said Jeff Hull, President and Chief Executive Officer of Highlander Partners, the majority owner of DZYNE.
Ondas Raises FY2026 Revenue Guidance To $525M
Following the acquisition, Ondas raised its 2026 revenue outlook to at least $525 million, compared to its previous forecast of at least $390 million. The updated guidance represents a 35% increase from the prior projection.
DZYNE Expected To Contribute $191M In 2026 Revenue
DZYNE is expected to contribute $191 million in revenue in 2026 and more than $300 million in 2027, while maintaining positive earnings before interest, tax, depreciation, and amortization (EBITDA). DZYNE expects margins in the mid-teens in 2027, rising to the mid-20% range by 2028.
The target firm expects strong growth driven by demand for its ultra-long-endurance intelligence, surveillance, and reconnaissance (ISR) platform, IonStrike interceptor system, and Dronebuster counter-drone products.
Ondas Gains Federal Contracts Access Through Mistral Acquisition
Earlier this year, Ondas acquired Mistral, a prime contractor for U.S. military and government programs, giving the company direct access to major U.S. Department of Defense contracts, including programs with the U.S. Army and Special Operations forces.
Mistral holds more than $1 billion in defense contracts spanning weapon systems, drones, and unmanned platforms, and also supplies equipment and security solutions to federal, state, and local law enforcement agencies.
Retail Sentiment Remains Bullish On Stocktwits
Retail sentiment on Stocktwits remained 'bullish' over the past 24 hours, amid 'high' message volumes. ONDS was among the top trending tickers at the time of writing.
Following the acquisition, one bullish user highlighted "two windows of business opportunity into the federal government."
ONDS shares were up around 1.4% at the time of writing. ONDS shares have declined 33.4% so far this year.
FAQ
What did Ondas pay for DZYNE Technologies?
Ondas paid a total consideration of $875.8 million for DZYNE Technologies, comprising $200 million in cash and approximately 85 million shares valued at $675 million. DZYNE shareholders will own about 13.8% of Ondas' outstanding shares after the transaction closes.
How much revenue will DZYNE contribute to Ondas?
DZYNE is expected to contribute $191 million in revenue in 2026 and more than $300 million in 2027, while maintaining positive EBITDA. Following the acquisition, Ondas raised its 2026 revenue outlook to at least $525 million from a previous forecast of at least $390 million.
What federal contracts does Ondas access through Mistral?
Through its earlier acquisition of Mistral in March, Ondas gained direct access to major U.S. Department of Defense contracts, including programs with the U.S. Army and Special Operations forces. Mistral holds more than $1 billion in defense contracts spanning weapon systems, drones, and unmanned platforms.
