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$Pro Ultrshrt Crude Oil(SCO.US)• Commercial crude oil inventories increased more than expected (+3.081 million barrels): This is the most direct bearish indicator in the report. An inventory increase means supply temporarily exceeded demand (or refinery throughput was insufficient), putting direct spot pressure on oil prices.

• Strategic Petroleum Reserve (SPR) inventory decreased (-1.739 million barrels):

This is a key hidden bearish factor. Normally, an SPR increase means the government is buying, which is bullish; while an SPR decrease means the government is releasing crude oil to the market, which indirectly increases market supply.

WTI crude oil faced two major bearish factors, yet the price rebounded from $93 to $96, I don't get it 😂

$Pro Ultrshrt Crude Oil(SCO.US) The deviation today is too large, so large it's baffling. Night market oil price at 96 corresponded to 8.4, now at 93 it corresponds to 8.6. Except for the day the war started when it was stuck at the extreme of 7.4 yuan, today is the most outrageous!

$Ondas(ONDS.US) The Israeli company Ondas acquired for $133 million in March!

$Ondas(ONDS.US) Interceptor drones under Ondas.

$Ondas(ONDS.US) feels like the $11 gamma wall is going to completely crumble today!

$Ondas(ONDS.US) just released its preliminary results for Q4 2025 / FY 2025, with its earnings per share taking an expected hit due to non-cash expenses from the OAS exchange.

But don't be fooled by the FY 2025 loss per share of $(0.62). While it appears flat compared to the FY 2024 loss of ($0.61), the efficiency is far from the same.

In FY 2024, $Ondas(ONDS.US) lost $5 for every $1 earned, with revenue of $7.2 million and a loss of $38 million.

In FY 2025, they have narrowed this gap to nearly 1:1, losing $53 million while generating over $50 million in revenue, and also building a world-class defense product portfolio.

The company has $1.5 billion in cash, with FY 2026 revenue expectations exceeding $375 million, marking the official end of the "cash burn" phase.

The "scaling" phase has begun 🚀

$Ondas(ONDS.US) This $150 million acquisition will dilute the share capital by another 15 million shares, so the stock price is falling!

$Ondas(ONDS.US) According to the official announcement released by Ondas Holdings ($Ondas(ONDS.US)) on March 9, 2026, and related disclosures regarding the merger agreement with Mistral Inc., the following are key data points about Mistral's financial status and business scale:

1. Revenue Scale

• Current Performance: Mistral's estimated revenue for fiscal year 2025 is approximately $45 million to $50 million.

• Contract Pipeline: Mistral currently serves as a Prime Contractor on multiple U.S. Department of Defense (DoD) IDIQ (Indefinite Delivery/Indefinite Quantity) base contracts, with a total potential value exceeding $10 billion.

• Post-Merger Contribution: Ondas expects its total revenue guidance for fiscal year 2026 to reach $170 million to $180 million after completing the merger with Mistral. This indicates that Mistral not only contributes its own existing business but also accelerates order conversion for Ondas's original products (such as Airobotics and Roboteam) through its contractor status.

2. Profit and Profitability

• Profitability Status: Unlike many drone technology companies in the R&D phase, Mistral is a company that is already profitable and has positive cash flow.

• Margin Estimate: Typical EBITDA margins for mature projects of a defense prime contractor usually range from 10% to 15%. Although precise net profit figures were not officially disclosed, Ondas explicitly stated that this acquisition is "accretive," meaning it will immediately improve Ondas's earnings per share (EPS) and overall profit statement post-merger.

3. Core Contract Assets

Mistral's value lies not only in its current revenue but also in the "tickets" it holds:

• $982 Million Contract: Mistral is one of the main suppliers for the U.S. Army's "Lethal Unmanned Systems" project, responsible for integrating and supplying the HERO 120 loitering munition system.

• SOCOM Support: It is a long-term partner of the U.S. Special Operations Command (SOCOM), providing top-tier customer endorsement for Ondas's autonomous flight platform.

4. Transaction Valuation Reference

• Acquisition Price: Ondas acquired Mistral for approximately $175 million (primarily through stock).

• Valuation Multiple: Based on $50 million in revenue, the acquisition's price-to-sales (P/S) ratio is approximately 3.5x. For a company with defense prime contractor qualifications that is already profitable, this valuation is considered reasonable and attractive within the current defense technology industry.

Brief Comment:

Mistral is a "small but elite" defense integrator. Its addition addresses Ondas's biggest pain point—the lack of direct order channels with the U.S. military. From a financial perspective, Mistral's stable revenue and profitability will significantly hedge against Ondas's high R&D expenses in drones, helping the company achieve overall breakeven faster.

$Ondas(ONDS.US) The biggest highlight of this Israeli Ministry of Defense order is that it defeated the giants: Ondas directly and face-to-face beat out several global top-tier defense primes (Global Defense Primes) in the bidding.

It is now almost certain that the border security contract $Ondas(ONDS.US) won in December is for Israel's eastern border with Jordan.

Although Ondas itself has not confirmed this, statements from Israeli spokespersons and Israeli defense websites clearly indicate that Ondas' subsidiary is being used to build/expand the eastern border security barrier.

This is described as a 500-kilometer "smart border" that combines physical fencing/barriers with advanced technologies like sensors, radar, cameras, and now drones.

The project is expected to cost $1.7 billion, of which $Ondas(ONDS.US) will receive $100 million (currently).

Investors still expect to hear about the first procurement order this month (January 2026).

$Ondas(ONDS.US) Today, there are also the results of the drone competition announced by the U.S. War Department, with contracts awarded to 12 winning companies. Should be a string of good news!

$Ondas(ONDS.US) The U.S. Central Command announced that the "Scorpion Strike" task force, as part of "Operation Epic Fury," has deployed one-way attack drones in combat for the first time.

$Ondas(ONDS.US) The price the market maker wants most tonight is 10.49, so the expiring options tonight will maximize profits!

$Ondas(ONDS.US) On February 24, 2026, after Lindahl Capital's analysis of the major trends in the 2026 defense budget, it immediately published an analysis article titled "The World Enters the Era of Drone Warfare." The logic is clear: future warfare will revolve around the main theme of drones and anti-drone technology.

$Ondas(ONDS.US) products have entered the latest branch of the Israeli Defense Forces - the Robot Corps!

$ONDS 260227 7 Put(ONDS260227P7000.US) The 9,000 lots of hedging at 0.04 yuan that the main force bet on the 20th is about to be wiped out, so the pressure to push to 12 yuan is reduced!

$Ondas(ONDS.US) The social media screenshot posted by Jes Chosid (an executive at American Robotics, a subsidiary of Ondas) is actually a direct response from Ondas ($Ondas(ONDS.US)) to Fortem's (the World Cup organization's designated counter-drone company, involved in security for two World Cups) technological leadership. It confirms a major breakthrough in the compliance process of Iron Drone within the United States.

Interpretation of the core message of this statement:

• Compliance Breakthrough (Refuting the "Not Approved" Argument): The text explicitly states that Iron Drone "has been approved for use within the United States." This directly refutes doubts that ONDS's kinetic solutions cannot enter the US market.

• Endorsement by Four Major Federal Agencies: Although the usage threshold is very high, requiring training from DoD, DHS, DoE, or DoJ, this proves the system has passed the highest level of federal review.

• "Last Line of Defense" Positioning: This echoes your mention of NYPD negotiations. As it is the "last line of defense," when soft-kill (protocol hacking) fails, this "soft-kinetic net capture" is the ultimate solution.

• Defense Against Fortem: Fortem emphasizes it is the only kinetic solution for DHS, while Jes Chosid emphasizes that Iron Drone's "soft-kinetic (net capture that does not produce debris)" is more suitable for technologically advanced departments like the NYPD.

$Ondas(ONDS.US)Ondas's strategy for participating in the Department of War's drone testing competition was not to bid under its own name alone. Instead, through holding companies (DFG), deep investments (PDW), technology enablement (Anno.Ai), and channel representation (Darley), it secured 4 out of the 25 shortlisted companies.

This setup ensures that no matter which type of low-cost drone the U.S. military ultimately chooses (whether it's the heavy-lift PDW, the inexpensive DFG, or the autonomous Darley/Wåsp), Ondas can maximize its financial returns through patent licensing, supply of core components, or direct consolidation of earnings.

$Ondas(ONDS.US) Comparing the list of participants in the US Department of War's drone competition with the registration list from early February, ONDS's biggest competitor $Kratos Defense & Security(KTOS.US) has dropped out. It was replaced by Titan, a 3D-printed drone company, likely because its competition drone was too expensive and didn't meet the Department of War's strict criteria.

In stark contrast to the fading out of $Kratos Defense & Security(KTOS.US), the four partners of Ondas Holdings ($Ondas(ONDS.US)) have a strong presence in the final shortlist of 25 companies:

• Confirmed shortlisted: Anno.Ai, W S Darley, Performance Drone Works (PDW), and Ukrainian Defense Drones Tech Corp (DFG) have all entered the official testing list.

• Competitive advantage: These four affiliated companies, in which Ondas holds stakes, controls, or provides technology, are jointly competing for a spot in the top 12 to secure initial contracts of over 1,000 units each and Blue UAS fast-track certification.

$Ondas(ONDS.US) New drone model debuts!

$Ondas(ONDS.US) Just realized that among the 25 companies participating in the US military bidding, two are Ondas' equity-invested companies. That's so creative! One partnered with a century-old American fire safety company, and the other invested 11 million in a Ukrainian combat-proven company. This is a solid win in the first stage (selecting 12 from 25). Now it's about how many orders they can get from the $150 million pool! If, after 6 months, they win again in the second stage (selecting 5 from the 12+, where eliminated companies from the first round can re-enter if they meet standards), then the 5 companies will split the $950 million super order!

$Ondas(ONDS.US)An official announcement released by Sentrycs, the counter-drone subsidiary of Ondas Holdings, 2026

February 23-25 German law enforcement and armed forces exhibition, new equipment from ondas debuts!

$Ondas(ONDS.US) Through a series of additional share issuances and acquisitions over 25 years, Ondas has entered a phase of significant revenue growth. Institutions are also entering the market through primary market offerings and secondary market purchases, with costs in the range of 7-10 yuan, awaiting the Davis Double to bring substantial profits.

Drones have already been identified by the U.S. Department of Defense as the main battlefield of future warfare. Ondas's vertically integrated ecosystem layout in this field is already showing promise. Its inclusion in the 2026 Davos Forum's drone monitoring and anti-drone systems, German border drone patrols, and NATO drone surveillance are all demonstrations of its capabilities.

The current management team is even more outstanding. Most of Ondas's senior executives are former top-level personnel from Rafael, the developer and manufacturer of Israel's "Iron Dome" system. It can be said that Ondas has essentially hollowed out Rafael's management, technical, and marketing layers, and its high-quality subsidiaries have also been acquired or are being acquired by Ondas. Precisely because of this, through the unique business model of Jewish people and cooperation with some well-connected companies, it has rapidly penetrated the deeply entrenched military and police markets.

I believe Ondas's stock price in 2026 will definitely soar and bloom!

$Ondas(ONDS.US) has an order for 340,000 drones. The competition begins on February 18th, and in early March, the first batch of 12 selected companies will be announced to share the 150 million order. After another competition in September, the final 3-5 selected companies will share the remaining nearly 1 billion order.

If Ondas is selected in March, the stock price could reach $15. If selected in the second batch in October, the stock price could reach $22. After all, being selected in October would mark a qualitative leap in industrial growth, significantly boosting its valuation!

The implementation of contracts such as security for the Davos Forum, border patrol in Germany, and mine clearance in Israel has witnessed Ondas's step-by-step growth!

$Alphabet(GOOGL.US)AI is experiencing explosive growth, with revenue growth accelerating from last quarter to 48%, and backlog orders increasing by 55% quarter-on-quarter to reach 240 billion. This means future revenue is certain, and only when large enterprises can profit from AI will they sign contracts with Google. The 240 billion and future orders are enough to support the 180 billion in capital expenditures.

Now we just have to wait for emotions to cool down and for the market to react before Google's stock price can recover!

$Amazon(AMZN.US) is optimistic about Amazon's Q4 earnings report tomorrow. Seeing the growth and profits of Google Cloud and AI advertising in Google's earnings report will only boost Amazon's current valuation. Amazon's advantage lies in its stock price being at the low end of the range and stagnating for nearly two years. The massive capital expenditure starting in 2024 has reaccelerated AWS's growth, with annualized growth returning to over 20%, and it's not driven by price cuts but by natural expansion in computing power, AI, and corporate demand. The only concern is whether the capital expenditure in 2026 will also surge, especially since short-term market funds have been irrationally selling off recently!