Ondas receives $68 million initial order from military program

Ondas Inc. (NASDAQ: ONDS) received an approximately $68 million order for heavy engineering vehicles under a previously announced $140 million strategic military procurement program. The order represents the first phase of the multi-year program awarded to the company's subsidiary, INDO Earth Moving Ltd.

Initial deliveries are expected in the fourth quarter of 2026. The company stated that additional follow-on orders, including long-term maintenance agreements and fleet expansion, are expected over the coming years.

The engineering vehicles are heavy tracked platforms designed for military engineering and combat support missions. According to the company, the systems can be integrated with autonomous and artificial intelligence capabilities, enabling remote operation and coordination with aerial surveillance and counter-unmanned aircraft systems.

"This order represents a significant milestone as we begin execution of this large-scale strategic program," said Eric Brock, chairman and CEO of Ondas. The company acquired INDO Earth Moving as part of its expansion into ground-based autonomous systems.

Ondas operates through three business units: Ondas Autonomous Systems, which develops air and ground robotic platforms; Ondas Capital, which focuses on strategic investments; and Ondas Networks, which provides wireless connectivity solutions. The company serves defense, security and industrial markets.

The order builds on the $140 million multi-year strategic procurement program previously announced by the company. Long-term maintenance and support services are expected to be procured under separate follow-on orders, according to the press release.

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