Ondas Inc. (NASDAQ:ONDS) is in the spotlight Monday after the company announced it has secured more than $40 million in new orders during June for autonomous defense systems, bringing its second quarter-to-date order activity to more than $150 million.
- Ondas stock is moving in positive territory. Why is ONDS stock advancing?
The Orders
The June awards include Counter-UAS solutions, Loitering Munition Systems, ground systems, and related defense services from governmental and defense customers across multiple international markets. The new orders build on more than $30 million secured during May, reflecting accelerating demand for Ondas’ integrated autonomous defense platform across Europe and the United States.
“June new orders demonstrate the increasing demand for autonomous defense technologies capable of addressing the realities of modern warfare,” said Eric Brock, Chairman and CEO. “Counter-UAS has become an urgent priority for governments around the world as drone threats continue to accelerate, and we are now seeing the next major wave of demand forming around Loitering Munition Systems and affordable long-range precision engagement.”
The SkyLance Trial
A key development within the quarter was Rotron Aerospace, Ondas’ wholly owned UK-based subsidiary, completing a successful flight trial of its SkyLance system under the UK Ministry of Defence’s Project Brakestop, a Taskforce Kindred-funded program focused on advancing next-generation long-range strike capability.
SkyLance is a one-way-effect system designed to combine substantial operational range with precision engagement capability. The successful trial validated core technologies supporting the platform and demonstrated Rotron’s ability to rapidly deliver advanced capability in support of sovereign UK defense priorities. The system is designed, developed and manufactured entirely in the United Kingdom.
Ondas Shares Edge Higher
ONDS Price Action: At the time of publication, Ondas shares are trading 2.48% lower at $9.03, according to data from Benzinga Pro.
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