Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

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<ul><li>Considering the recent US military intervention in Venezuela (Operation Absolute Resolve) on January 3, we expect a significant surge in small drone purchases.</li><li> The key is a shift to “Near Abroad” operations. Note that the Venezuela action signals a pivot to the Western Hemisphere.</li><li>Operations in this region often involve urban environments or dense jungles, likely relying heavily on small, portable drones for intelligence, surveillance, and reconnaissance (ISR) and precision strikes to minimize “prolonged engagement” and casualties.</li></ul>

Considering the recent US military intervention in Venezuela (Operation Absolute Resolve) on January 3, we expect a significant surge in small drone purchases. The key is a shift to “Near Abroad” operations. Note that the Venezuela action signals a pivot to the Western Hemisphere.Operations in this region often involve urban environments or dense jungles, likely relying heavily on small, portable drones for intelligence, surveillance, and reconnaissance (ISR) and precision strikes to minimize “prolonged engagement” and casualties.

Tech Talk: US Drones Get Another Boost : US Military Action in Venezuela Points to More Drone Sales

<ul><li>Unusual Machines’ CEO Allan Evans highlighted a significant market shift in the drone industry, driven by geopolitical restrictions on Chinese manufacturers, creating a “market vacuum” for non-Chinese, Made-in-the-USA drone components.</li><li>Unusual Machines aims to be a crucial Tier 1 supplier for backpack-sized, specialty, and FPV drones by leveraging a consumer channel to achieve competitive pricing and quality for US-made parts.</li><li>Evans anticipates rapid growth and consolidation in the US drone market, fueled by upcoming defense budgets and existing legislation, with the primary challenge being the ability to match the price performance expectations set by Chinese companies.</li></ul>

Unusual Machines’ CEO Allan Evans highlighted a significant market shift in the drone industry, driven by geopolitical restrictions on Chinese manufacturers, creating a “market vacuum” for non-Chinese, Made-in-the-USA drone components.Unusual Machines aims to be a crucial Tier 1 supplier for backpack-sized, specialty, and FPV drones by leveraging a consumer channel to achieve competitive pricing and quality for US-made parts.Evans anticipates rapid growth and consolidation in the US drone market, fueled by upcoming defense budgets and existing legislation, with the primary challenge being the ability to match the price performance expectations set by Chinese companies.

WTR Symposium Series Podcast Recap - July 21, 2025

Research from Atrium Research, Atrium Research Corporation

Atrium Research

Research from Atrium Research

Atrium Research Corporation

Atrium Research provides institutional quality issuer paid research on public equities in North America. Our investment philosophy takes a 3-5 year view on equities currently being overlooked by the market. Our research process emphasizes understanding the key performance metrics for each specific company, trustworthy management teams, unit economics, and an in-depth valuation analysis. 

Our research product includes in-depth initiation reports, research notes, thematic research pieces, and company fact sheets.

Equity Bottom-Up

<ul>
<li>Defence and aerospace small-cap equities are emerging as key beneficiaries of increasing government defence budgets.</li>
<li>Canada has committed to meeting NATO’s 2% GDP target by 2025-2026, with interim boosts totalling C$9B in new spending.</li>
<li>Demand for fighter jets, naval systems, NORAD upgrades, and drone defence create multi-year tailwinds for niche suppliers.</li>
</ul>


Defence and aerospace small-cap equities are emerging as key beneficiaries of increasing government defence budgets.
Canada has committed to meeting NATO’s 2% GDP target by 2025-2026, with interim boosts totalling C$9B in new spending.
Demand for fighter jets, naval systems, NORAD upgrades, and drone defence create multi-year tailwinds for niche suppliers.


Small-Caps Positioned to Benefit from Multi-Year Defence Spending Cycle

United States

Ondas Holdings, Inc. operates as a holding company. The Company, through its subsidiaries, designs and manufactures software defined radio platform for mission critical IoT applications. Ondas Holdings serves customers worldwide.

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Ondas Holdings Inc (ONDS US)

Tech Talk: US Drones Get Another Boost : US Military Action in Venezuela Points to More Drone Sales

Considering the recent US military intervention in Venezuela (Operation Absolute Resolve) on January 3, we expect a significant surge in small...

Water Tower Research

WTR Symposium Series Podcast Recap - July 21, 2025

Unusual Machines aims to be a crucial Tier 1 supplier for backpack-sized, specialty, and FPV drones by leveraging a consumer channel to achieve...

Water Tower Research

Small-Caps Positioned to Benefit from Multi-Year Defence Spending Cycle

Defence and aerospace small-cap equities are emerging as key beneficiaries of increasing government defence budgets. Canada has committed to...

Atrium Research

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