The Most Interesting Growth Story I Have Ever Seen

Last fall, I had a call with JC Parets and Phil Pearlman. JC tasked me with finding the next 100X opportunity.

Six months later, I have conviction in one name like never before.

Ondas is up to something.

We've covered this company before, and its performance is extraordinary.

In the last 12 months, $ONDS is up > 1,200%.

In the last 24 months, the company has gone from $7M in revenue to a guided $375M+ for 2026 - a 52X jump, one of the fastest of all time.

Here are links to my previous posts, 

Ondas Holdings Makes Headlines - 12.9.25

Ondas Finds Fresh Highs, Continues To Make Headlines - 1.9.2026

This Might Be A 100-Bagger - 2.19.2026

Is Ondas Ready For Its Next Leg Higher? - 3.2.2026

What Is Ondas?

Ondas is a defense autonomy platform. Four domains, one ticker: stratosphere (high-altitude balloons via World View), air (autonomous drones and counter-UAS via Airobotics, American Robotics, BIRD, Sentrycs), ground (autonomous heavy equipment via Mistral and ONBERG), and software (Palantir AIP running the stack).

Customers are governments and defense primes. Revenue comes from hardware, recurring software, and long-dated defense contracts.

The 2024 Ondas was a small wireless radio company.

But with 12 acquisitions in 18 months, the company has transformed into a Tier-1 defense prime with a $375M revenue estimate.

Why Ondas Is in the Perfect Position in 2026

Let's stack the layers of probability:

• Defense tailwind · Counter-UAS budgets exploding. Ukraine, Israel, Red Sea, FIFA. Every credible threat vector is a drone.
• Prime-contractor status · Mistral merger unlocks $1B+ IDIQ ceiling. Ondas is now inside the tent with direct access to U.S. Army and USSOCOM contract vehicles - including a $982M multi-year Lethal Unmanned System program.
• Palantir on the software layer · Same AIP stack the DoD is standardizing on. Integration, not pilot.
• Platform completeness · Stratosphere (World View) + Air (American Robotics, Airobotics, BIRD, Sentrycs) + Ground (Mistral, ONBERG) + Software (Palantir AIP). Four domains, one ticker.
• Cash · $1.5B pro forma after the January raise.
• Revenue inflection · $50.7M in 2025, up 605% YoY. 2026 guided to $375M+.

Why I'm Sharing This Now

We're in a hot tape. Hot stocks need market conditions like this to pop off.

Ondas closed yesterday at $10.73.

Sellers gained control after $ONDS top-ticked $15.28 on January 12, but the winds are shifting.

And I'm pyramiding into this position. Adding fuel to the fire.

The $8.73 pivot low is the level that matters. Below it, I pause the purchases.

The Tape Since January

Fourteen catalysts in fifteen weeks. Let's review.

January 12, 2026 · $1B Registered Direct Offering Closes Upsized from $750M on same-day demand. $1.5B pro forma cash. War chest for the acquisition roll-up.

January 16, 2026 · Ondas Autonomous Systems (OAS) Investor Day + Rename to Ondas Inc. Unveiled the multi-domain autonomy platform thesis. Dropped "Holdings" - signaling operational integration.

February 2, 2026 · Rotron Power Acquisition UAV propulsion specialist. Vertical integration on the air side.

February 3, 2026 · APAC Counter-UAS Contract Asia-Pacific sovereign customer. Region expansion live.

March 9, 2026 · Mistral Inc. Merger ($175M) Unlocks $1B+ IDIQ ceiling. Tier-1 U.S. prime-contractor status. The single most important deal in this sequence.

March 11, 2026 · BIRD Aerosystems Acquisition Airborne surveillance and mission systems. Israel.

March 12, 2026 · Palantir Partnership AIP integration across the full Ondas stack. Same software layer the DoD is standardizing on.

March 17, 2026 · INDO Earth Moving + $140M Tender Ground autonomy entry. Heavy equipment + mining customer base.

March 18, 2026 · ONBERG JV with Heidelberg European prime-contractor partnership. Autonomous heavy haul.

March 25, 2026 · Q4/FY25 Earnings · Revenue $50.7M, +605% YoY 2026 revenue guide raised to $375M+. 52× ramp from 2024 locked in and on the books.

April 1, 2026 · World View Close Stratosphere layer. Platform stack now end-to-end.

April 6, 2026 · 4M Defense $15.8M Order (Israel) First Mistral-era defense revenue on the tape.

April 7, 2026 · FIFA World Cup Sentrycs Contracts Venue counter-UAS for 2026 tournament.

April 15, 2026 · ONBERG Operational Launch First JV milestone. Revenue begins.

A Framework for the Next 1,000 Days

Ondas is guiding to one of the fastest revenue ramps in market history. No standard valuation model handles that. So instead of a price target, here's a framework - one built from the tape of the companies who've already walked this path.

Every mega winner has a moment. And it's rarely the IPO.

It's usually a catalyst that proves the thesis and flips the business from story stock to growth stock.

For Palantir, the moment was December 2022. AIP was launching, government contracts were stacking, and the market finally saw "AI defense platform" instead of "consulting firm." $6 to $204 in under three years.

For Celsius, the moment was March 2020. PepsiCo distribution about to close, shelf space about to 10×, category ready for a healthier challenger. $0.70 to $99.60.

For Tesla, the moment was June 2019. Model 3 production scaling, China Gigafactory breaking ground, "can they actually build cars" finally answered. $12 to $138.

For Monster, the moment was April 2002. The pivot from natural sodas to energy drinks, paired with national distribution. $0.30 to $30.

Different decades. Different industries. Same pattern.

Ondas's moment is right now.

Despite its 1,000%+ 12M performance, $ONDS has "underperformed" its mega growth peers.

Check out this visual I cooked with Claude.

We can see $ONDS' 27X return from the 2025 low is modest compared to the 142X return via $CELH, or the 104X return via $AXON.

Ondas leads its mega growth peers in terms of revenue growth, but is in the middle of the pack in terms of stock performance.

My bet is that $ONDS plays catch-up to these mega growth leaders.

The Wind Is at Our Back

Right stock. Right industry. Right market. Right time.

Ondas sits at the confluence of every tailwind blowing through this cycle:

• Next-gen autonomy. The robotics layer every defense budget is chasing.
• Communications and connectivity. Legacy Ondas radio business still hums underneath the platform.
• Security and counter-UAS. Sentrycs, Iron Drone, airport and venue deployments going live.
• Next-gen military tech. Tier-1 prime status. Palantir AIP. Israel, U.S., APAC, Europe.
• Hot tape for small-cap growth. Risk appetite is back. Winners win.

This is the most interesting growth story on the tape. 

Godspeed.

Not financial advice. Editorial opinion on a publicly traded security. Do your own work.

Ondas is a volatile small-cap in an emerging sector. Expect drawdowns. Size accordingly.

Reply and tell me which mega winner you think Ondas rhymes with. I'll read every one.