Ondas is a defense and security technology company built around two businesses: Ondas Autonomous Systems (OAS) and Ondas Networks. OAS is the primary and fast-growing segment, developing and selling autonomous drone and counter-drone (C-UAS) systems to defense agencies, homeland security customers, and critical infrastructure operators globally. OAS's two flagship products are the Optimus System — a drone-in-a-box platform for persistent surveillance and ISR that operates without an on-site pilot — and the Iron Drone Raider, a fully autonomous interceptor drone designed to neutralize hostile small drones at military installations, borders, and airports. OAS sells primarily via direct government and defense sales, supplemented by channel partners who facilitate access to DoD and DHS procurement. Beyond hardware, OAS offers a subscription-based Drone Infrastructure and Data-as-a-Service model bundling hardware, software, and maintenance into recurring annual fees. Ondas is pursuing an aggressive acquisition strategy, buying complementary defense technology companies and integrating them into a multi-domain "Systems-of-Systems" architecture, with the goal of selling complete defense solutions rather than standalone products. Ondas Networks is the legacy business, providing private wireless networking technology for North American freight rail operators, though commercial traction has been limited due to slow deployment decisions by Class I railroads. Ondas Capital functions as a strategic investment vehicle to fund acquisitions, having deployed roughly $207M into acquisitions in FY25 with five additional deals announced in early 2026.