RCAT vs ONDS

I’ve been going down a bit of a rabbit hole on drone-related stocks and could use some outside perspective. Right now I’m looking at Red Cat Holdings (RCAT) vs Ondas Holdings (ONDS) and trying to figure out which one makes more sense for future returns given where the market seems to be heading this year and longer term. My thinking so far (and feel free to tell me where I’m wrong): * Drones clearly aren’t a fad anymore. Between ongoing conflicts, surveillance, logistics, and autonomous systems, it feels like UAVs are only becoming more central to modern warfare. * RCAT looks like the higher-risk, higher-reward play. Smaller company, more volatile, but potentially big upside if they land meaningful military contracts or expand their role with defense customers. * ONDS feels less flashy but maybe more durable? They’re not just about drones themselves but also the secure communications / autonomous systems side of things, which seems like something defense and infrastructure spending could lean into over time. * With rates, inflation, and general market uncertainty, I’m torn between going with something more speculative that could pop (RCAT) vs something that might grind higher if execution improves (ONDS). I’m not expecting either to be a traditional dividend play right now more of a future growth that could eventually mature kind of investment. Curious what others think: * If you had to pick one for the next 1–5 years, which would it be and why? * How much weight do you personally give to the “future of warfare” angle when investing? * Any major red flags on either company that don’t get talked about enough? Appreciate any insight still learning and trying to pressure-test my assumptions before committing capital.