Ondas Holdings Inc. (ONDS): A Bull Case Theory 

We came across a bullish thesis on Ondas Holdings Inc. on The Edge of Power’s Substack. In this article, we will summarize the bulls’ thesis on ONDS. Ondas Holdings Inc.’s share was trading at $6.38 as of September 15th.

Ondas Holdings is carving out a unique position across rail, industrial infrastructure, and defense by offering mission-critical technologies with regulatory approval. Its FullMAX software-defined radio network, already cleared by the Association of American Railroads and distributed through Siemens, replaces outdated 1980s radio systems with modern, reliable communication. This upgrade not only improves train safety and reduces accident risk but also establishes a digital backbone capable of enabling automation and predictive maintenance.

In infrastructure, Ondas’ Optimus drone-in-a-box addresses the constant security and monitoring costs faced by airports, factories, and data centers. The system provides continuous aerial coverage with autonomous launch, patrol, landing, and recharging, effectively acting as a permanent security guard in the sky. Its FAA type certification — allowing operations over people and beyond line of sight in the U.S. — further enhances its practical value. For defense and security, the Iron Drone Raider targets the rising threat of hostile drones. Operating autonomously, it detects, tracks, and neutralizes drones without human intervention, with proven deployments by European and Asian governments.

This breadth gives Ondas exposure to three vital markets, a rare mix of civilian infrastructure and defense, underpinned by regulatory clearances that competitors lack. Financially, the company is demonstrating explosive growth, with Q2 2025 revenue at $6.27 million compared to just $0.96 million in the prior year, a six-fold increase, and up 48% sequentially. A $22 million backlog supports visibility toward exceeding $25 million in 2025 revenue, though losses remain heavy as Ondas continues investing in scale.

Previously we covered a bullish thesis on RTX Corporation (NYSE:RTX) by Stock Picker’s Corner in January 2025, which highlighted its strengths in drone defense, hypersonic weapons, and advanced radar. The company’s stock price has appreciated approximately by 36.67% since our coverage. This is because demand for advanced defense systems has accelerated. The thesis still stands as RTX remains critical to evolving threats. The Edge of Power shares a similar view but emphasizes Ondas Holdings’ technologies in rail, infrastructure, and drone defense.

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Disclosure: None.