Core Insights - Ondas Holdings Inc. (ONDS) is experiencing strong momentum in its autonomous systems business, with a consolidated backlog of $23.3 million for Q3 2025, more than doubling since the beginning of the year [1][9] - The Ondas Autonomous Systems (OAS) unit's backlog reached $22.2 million, indicating a robust customer pipeline and anticipated backlog growth by year-end [2] - The company is focusing on mergers and acquisitions (M&A) to enhance its portfolio in unmanned ground systems, robotics, and counter-UAS technology, including the planned acquisition of SentryCS Ltd. [3] Business Expansion and Market Opportunities - Ondas is expanding its global presence in the counter-UAS market, with successful pilots conducted in the U.S., Europe, and Asia, confirming system interoperability [4] - The global demand for counter-drone solutions is projected to grow from $2.4 billion in 2024 to over $10.5 billion by 2030, reflecting a 27% annual growth rate due to increasing drone-related threats and government spending [4] - The company is monitoring several significant opportunities that are expected to drive growth momentum into 2026 [5] Financial Performance and Projections - Ondas has raised its full-year revenue target for 2025 to at least $36 million, with a projected fourth-quarter revenue exceeding $15 million, up from $10.1 million in Q3 [6][9] - An initial revenue target of at least $110 million for 2026 has been set, driven by an expanding customer base and backlog [6] - The company's shares have surged 97.3% over the past three months, contrasting with a 6.2% decline in the Communication - Network Software industry [11] Competitive Landscape - Ondas faces competition from other drone manufacturers, including Draganfly Inc. and Red Cat Holdings, which are also making strategic advancements in drone technology [7][8][10]

Core Insights - Draganfly Inc. reported a 14.4% year-over-year increase in revenue for Q3 2025, totaling $2,155,993, with product sales rising by 22.1% to $1,622,286 [5][7] - The company experienced a gross profit of $420,947, a decrease of 4.5% from the previous year, resulting in a gross margin of 19.5%, down from 23.4% [5][7] - An adjusted comprehensive loss of $3,579,510 was reported, compared to an adjusted comprehensive loss of $3,771,250 in Q3 2024, influenced by various non-cash items [5][7] Financial Highlights - Total revenues for Q3 2025 were $2,155,993, compared to $1,885,322 in Q3 2024 [7] - Gross margin percentage decreased to 19.5% from 23.4% year-over-year [7] - The net loss for Q3 2025 was $5,169,797, compared to a loss of $200,194 in Q3 2024 [7] - Cash balance as of September 30, 2025, was $69,881,348, significantly up from $6,252,409 on December 31, 2024 [5][8] Operational Highlights - Draganfly was selected by the U.S. Army to supply Flex FPV Drone Systems, enhancing its position in the U.S. defense sector [5] - The Commander 3XL UAV was chosen for advanced operational initiatives by a major branch of the U.S. Department of Defense [5] - The company completed sales of Heavy Lift Drones to a Fortune 50 telecommunications company for emergency response applications [5] - A new manufacturing facility in the U.S. was announced to meet growing demand for American-made drone solutions [5] Subsequent Events - On October 24, 2025, Draganfly filed a new final short form base shelf prospectus, replacing the previous one [4] - The company raised $25 million through a registered direct offering to institutional investors, aimed at accelerating growth and product innovation [5]