The company in this piece carries a market cap near $255 million. Its stock has lost about 41% over the past year and recently closed less than half its 52-week high. Management kept growing the business while sellers pushed the stock down. Revenue in the June quarter came in almost six times higher than a year earlier, and management guides to more than four times last year’s revenue for all of 2026. Contract backlog rose 43% in three months. The company builds collaborative autonomy software that lets one soldier run a mixed team of drones from different manufacturers, and the Army has put that software into division-scale field exercises twice this year. In June, a foreign defense prime gave the company exclusive U.S. rights to build and sell a family of combat-proven loitering munitions to the Pentagon. The company also sells low-cost flight computers and a mini-bomber drone that costs under $1,000 per strike.
Most investors have skipped the CEO’s pay package. Last November the board granted him about 4.5 million performance units, and stockholders approved them in June. He collects nothing unless the stock holds $20 a share for 60 straight trading days. The award runs in ten equal tranches, from $20 up to $65 in $5 steps, and eight of the ten need $30 or more. His deadline is November 2030.
At $20 a share the company would be worth close to $1 billion, and at $65 more than $3 billion. The CEO bought more stock in the open market in September, near $5.80 a share.
We spoke with an expert anonymous source close to the company for this piece and were very impressed with what they had to say. They told us investors have overlooked the CEO’s award. We read the filings, and the terms tie his payout to yours tighter than the headline numbers suggest. Premium subscribers get the ticker and our levels below.
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