VisionWave Holdings Receives $20 Million Purchase Order for 200 STRATUM VARAN Unmanned Ground Vehicles, Subject to Conditions

Production and delivery deadlines will not begin until the order’s conditions are satisfied or waived.

Rhea-AI Summary

VisionWave Holdings (VWAV) announced on September 24, 2026, that it accepted a conditional $20 million vehicle purchase order.

Dubai-registered Metal Machinery Components Trading FZCO ordered 200 STRATUM VARAN heavy wheeled unmanned ground vehicles. The customer is not the end user. Deliveries are contemplated in batches of 70, 70 and 60 vehicles: within 12 months, in months 13 through 24 and in months 25 through 36, respectively, after the last condition is met or waived. The order provides for a $2 million advance, equal to 10% of its value, secured by a bank guarantee.

Performance requires proof of funds or committed financing for the full order value, agreed guarantee terms, the advance in cleared funds, required approvals and completed compliance reviews. None of the conditions had been met as of September 24, 2026. VisionWave has received no payment and has no obligation to begin production, make procurement commitments or deliver vehicles. It has recognized no revenue from the order and does not include it in backlog.

Positive

• $20 million accepted order for 200 vehicles, subject to conditions.

Negative

• $2 million advance unpaid; no order conditions satisfied as of September 24.

Argus 15 min delay 13 alerts

-9.97% vs previous close $5.15 last price 2.9x rel. volume Open Argus

Details

Market move: VWAV -9.97% vs previous close. $20 million purchase order

+16.8% Peak in 0 min

$4.88 $6.40 Day Range

On Sep 24, the day this news came out, the latest delayed price for VWAV is 9.97% below the previous close. Argus tracked a peak move of +16.8% during the session. Our momentum scanner has recorded 13 alerts for this stock so far that day. The latest delayed price is $5.15. Relative volume is elevated at 2.9x the average.

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Key Figures

Vehicles: 200 vehicles Aggregate base purchase price: $20 million Advance payment: $2 million (10% of order value) +3 more

Vehicles

200 vehicles

Purchase order; production and delivery remain subject to unsatisfied conditions

Aggregate base purchase price

$20 million

Purchase order; not described as a firm order or expected revenue

Advance payment

$2 million (10% of order value)

Subject to an advance-payment bank guarantee; not received as of the release

First delivery batch

70 vehicles within 12 months

Timing runs from satisfaction or waiver of the last condition

Second delivery batch

70 vehicles in months 13 through 24

Timing runs from satisfaction or waiver of the last condition

Third delivery batch

60 vehicles in months 25 through 36

Timing runs from satisfaction or waiver of the last condition

Key Terms

unmanned ground vehicles, advance-payment bank guarantee, anti-money-laundering, export-control, +1 more

5 terms

unmanned ground vehicles technical

"for 200 STRATUM VARAN heavy wheeled unmanned ground vehicles"

Unmanned ground vehicles are land-based machines—ranging from small robots to large tracked or wheeled platforms—that operate without a person on board, either controlled remotely or guided by onboard software. Think of them as self-driving trucks or robot helpers that can do tasks people normally do on the ground, such as deliveries, inspection, or hazard removal. Investors watch them because widespread use can reduce labor costs, open new service markets, change defense and industrial spending, and create revenue and partnership opportunities tied to hardware, software and regulation.

advance-payment bank guarantee financial

"to be secured by an advance-payment bank guarantee"

A bank-issued promise that repays a buyer if a seller fails to deliver goods or services after receiving an upfront payment. It acts like an insured IOU: the buyer gives money before work starts, and the bank guarantees to return that money if contract terms aren’t met. Investors care because such guarantees reduce counterparty risk, affect a company’s cash flow and collateral needs, and can influence the perceived creditworthiness of contracting parties.

anti-money-laundering regulatory

"sanctions, anti-money-laundering, anti-bribery, export-control"

Anti-money-laundering covers the rules, checks and systems used by banks, brokers and regulators to detect, stop and report attempts to hide or move proceeds from crime or to evade sanctions. Investors should care because robust controls protect market integrity, reduce risks of fines, frozen accounts and reputational damage, and affect a company’s costs and ability to do business — like a security checkpoint that helps keep the marketplace safe and reliable.

export-control regulatory

"anti-bribery, export-control, beneficial-ownership"

Export-control are government rules that restrict or require permission to ship certain products, technology, or services across national borders. They matter to investors because they can limit a company’s ability to sell goods, access markets, or work with certain partners; think of them like travel visas for products—if a business can’t get the needed clearance, revenue, supply chains and legal risk can be affected.

performance obligations financial

"only as the applicable performance obligations are satisfied"

Performance obligations are the specific promises a company makes to deliver goods or services to a customer under a contract, treated as separate deliverables when a customer can benefit from them on their own. Investors care because these promises determine when and how much revenue a company records — like breaking a bundled purchase into separate billable parts — which affects reported earnings, growth trends and the clarity of future cash flows.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Binding purchase order represents a milestone for VisionWave’s unmanned ground vehicle platform

WEST HOLLYWOOD, Calif., Sept. 24, 2026 (GLOBE NEWSWIRE) -- VisionWave Holdings, Inc. (Nasdaq: VWAV) (“VisionWave” or the “Company”), a technology company focused on advanced defense and autonomous systems, today announced that it has countersigned and accepted a purchase order from Metal Machinery Components Trading FZCO, a trading company registered in Dubai, United Arab Emirates (the “Customer”), for 200 STRATUM VARAN heavy wheeled unmanned ground vehicles at an aggregate base purchase price of $20 million. The Customer is not the end user of the vehicles and has advised the Company that it may act in relation to more than one prospective end user, each of which must be disclosed to and approved by VisionWave. VisionWave’s obligations to commence production, incur procurement commitments or make any delivery are subject to conditions that have not been satisfied, as described below.

If and when certain conditions are satisfied or waived, deliveries are contemplated in three batches — 70 vehicles within 12 months, 70 vehicles in months 13 through 24 and 60 vehicles in months 25 through 36 — in each case measured from the date on which the last condition is satisfied or waived, and not from the date of the purchase order or of this release.

The purchase order provides for an advance payment of $2 million, representing 10% of the order value, to be secured by an advance-payment bank guarantee, with the balance payable against production, inspection and acceptance, and delivery milestones for each batch. The terms of the bank guarantee have not been agreed, and VisionWave has not received the advance payment or any other amount under the purchase order.

VisionWave’s performance under the purchase order is subject to the satisfaction, or written waiver by VisionWave, of a number of conditions, including delivery by the Customer of documentary proof of immediately available funds or committed financing sufficient to cover the full order value; agreement on the form, issuing bank, expiry and draw conditions of an advance-payment bank guarantee and receipt of the advance payment in cleared funds; receipt of all export licences, authorisations, end-user documentation and governmental approvals required in the United States, the country of manufacture, the United Arab Emirates and each jurisdiction of end use; and completion, to VisionWave’s satisfaction, of sanctions, anti-money-laundering, anti-bribery, export-control, beneficial-ownership and end-user compliance review. No production, procurement or delivery obligation arises, and no delivery milestone begins to run, until the last of those conditions is satisfied or waived. As of the date of this release, none of those conditions has been satisfied, and VisionWave can give no assurance as to whether or when any of them will be satisfied.

“An order of this size is an important commercial validation for the STRATUM VARAN platform,” said Douglas Davis, Chief Executive Officer of VisionWave. “We are working with the customer to satisfy the funding, security and regulatory conditions that must be met before production can begin, and we intend to report on that progress as it develops.”

VisionWave has not recognized any revenue in respect of the purchase order and does not include the order in backlog. Revenue, if any, will be recognized only as the applicable performance obligations are satisfied. Investors should not regard the aggregate order value as a firm order or as an indication of expected revenue in any period. Additional information regarding the purchase order is contained in VisionWave’s Current Report on Form 8-K filed with the Securities and Exchange Commission on September 24, 2026, which should be read together with this release.

About STRATUM VARAN

STRATUM VARAN is VisionWave’s heavy wheeled unmanned ground vehicle platform, which VisionWave is developing to support a range of operational applications and to accommodate multiple configurations and mission requirements. The platform has not completed the demonstration, qualification or acceptance testing contemplated by the purchase order, and its final configuration and technical characteristics will be established only in the technical annex to be agreed following that demonstration.

STRATUM VARAN — unmanned ground vehicle platform. A modular platform being developed for a range of autonomous and remote operations.

About VisionWave Holdings, Inc.

VisionWave Holdings, Inc. (Nasdaq: VWAV) is a defense and advanced sensing technology company developing AI-driven, RF-based sensing, autonomy, and computational acceleration technologies for defense, homeland security, and commercial infrastructure applications. VisionWave’s mission is to connect defense innovation with civilian progress through shared core technologies deployed across air, land, and fixed-site environments. The Company’s website is https://www.vwav.inc. Information contained on, or accessible through, the Company’s website is not incorporated by reference into, and does not form a part of, this press release or any filing of the Company with the Securities and Exchange Commission.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as “anticipate,” “believe,” “contemplate,” “expect,” “intend,” “may,” “plan,” “potential,” “project,” “schedule,” “should,” “will” and similar expressions, and include, without limitation, statements regarding the purchase order, the anticipated advance payment, the satisfaction of conditions, production, governmental, regulatory and export approvals, end-user approvals, manufacturing, delivery schedules, the demonstration and qualification of the STRATUM VARAN platform, the commercialization of that platform and VisionWave’s future business activities.

Forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied, including, among others: the Customer’s ability and willingness to deliver documentary proof of immediately available funds or committed financing for the full order value; the parties’ ability to agree the form and terms of, and to cause an acceptable bank to issue, the advance-payment bank guarantee, and the Customer’s ability to pay each milestone when due; VisionWave’s ability to obtain the export licenses, authorizations, end-user certificates and governmental approvals required in the United States, the country of manufacture, the United Arab Emirates and each jurisdiction of end use; the results of VisionWave’s sanctions, anti-money-laundering, anti-bribery, export-control, beneficial-ownership and end-user compliance review, including in respect of prospective end users in jurisdictions affected by ongoing armed conflict; the identification and approval of acceptable end users and the risk that end users are not approved or that approval is withdrawn; the results of the platform demonstration and the risk that requirements identified in that demonstration materially alter the base configuration, cost, schedule or qualification requirements; VisionWave’s ability to establish, finance and qualify manufacturing capacity, including any required local manufacturing or industrial participation, and to procure long-lead components on acceptable terms; increases in component, raw material, logistics and tariff costs; VisionWave’s dependence on a single customer and on intermediaries for this order; and VisionWave’s limited operating history, limited revenue to date, recurring losses, need for additional capital and the dilution associated with its existing and future financing arrangements.

There can be no assurance that the conditions under the purchase order will be satisfied on any anticipated timetable or at all, that the advance payment will be received, that required governmental, regulatory, export or end-user approvals will be obtained, that production will commence, or that all or any portion of the purchase order will result in completed deliveries, recognized revenue or earnings.

Additional information regarding risks and uncertainties affecting VisionWave is contained under “Risk Factors” in VisionWave’s Annual Report on Form 10-K for the fiscal year ended September 30, 2025 and in its subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the Securities and Exchange Commission, which are available at www.sec.gov. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date made. VisionWave undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

Contact for Investors: investors@vwav.inc

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9e719c10-4cd5-4d96-8236-aa0dcd209258

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

When would VisionWave deliver the STRATUM VARAN vehicles under the purchase order?

Deliveries are contemplated in three batches: 70 vehicles within 12 months, 70 in months 13 through 24 and 60 in months 25 through 36. Each period is measured from the date the last condition is satisfied or waived, not from the purchase order or announcement date.

Who would use the vehicles in VisionWave’s purchase order?

Metal Machinery Components Trading FZCO is not the end user. It has advised VisionWave that it may act in relation to more than one prospective end user. Each end user must be disclosed to and approved by VisionWave.

What approvals does VisionWave need before performing the vehicle order?

Performance is subject to receipt of all required export licences, end-user documentation and government approvals in the United States, the country of manufacture, the United Arab Emirates and each jurisdiction of end use. It also requires completion of the specified compliance reviews to VisionWave’s satisfaction, unless VisionWave waives the conditions in writing.