Planned Arsenal-2 private investment$3.7 billionCompany disclosure · Oct 6, 2026
Series HUSD 5 billionPrivate financing · May 13, 2026
Series H valuationUSD 61 billionPrivate company valuation · May 13, 2026
- IPO filing
- Roadshow
- Pricing
- First trade
- Quiet period
- Lockup
Performance since IPO
Confirmed share price history
No published trading history yet
IPO recap
Offering not completed
IPO date, ticker, and IPO offer price are not yet confirmed.
Filed—
Pricing—
First trade—
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The short version
Anduril remains a private defense business without verified offer terms. Its October Arsenal-2 announcement adds a major manufacturing commitment and performance-linked Navy contract.
Key takeaway 1
No final public offering terms were verified.
Key takeaway 2
The $61 billion figure is a May private financing valuation.
Key takeaway 3
Arsenal-2 combines planned investment with a performance-linked contract ceiling.
Company in detail
Anduril develops autonomous defense equipment and the software that connects it. Its Lattice platform links sensors, command systems and operational capabilities, including third-party and government systems. The business therefore combines software development with the production and delivery of physical equipment for demanding defense customers.
Founded in 2017, Anduril is led by co-founder and CEO Brian Schimpf. The company’s May 2026 Series H raised $5 billion at a stated $61 billion private valuation. That figure belongs to a dated financing transaction and does not set the price or value of a future public offering.
The latest industrial expansion is Arsenal-2, announced on 6 October. Anduril plans a $3.7 billion private investment in a Maryland facility making Virginia-class submarine components and assemblies. The Navy contract has a maximum value of $2.9 billion, with payments connected to demonstrated production outcomes. Initial operations are expected in 2030, rather than being available today.
Our analysis is that this project deepens the importance of manufacturing execution in a potential investment case. Software capability can support production systems, but facilities, qualification, skilled workers and delivery standards determine how commitments translate into cash flow.
No issuer-confirmed IPO price, exchange ticker or first trading date was verified as of 7 October 2026. Anduril therefore remains a prospective listing candidate in this review.
An eventual prospectus would help assess contract concentration, capital spending, recognized revenue and governance. Headline contract ceilings and planned factory investments should be compared with amounts funded, milestones achieved and products accepted by customers.
Operating metrics
Planned Arsenal-2 private investment
$3.7 billionAnnounced capital commitment for Maryland manufacturing; not financing raised or money already spent. Initial operations expected in 2030.
Oct 6, 2026Navy Arsenal-2 contract ceiling
Up to $2.9 billionPayments linked to demonstrated production outcomes; maximum contract amount, not recognized annual revenue.
Oct 6, 2026Company profile
- Legal name
- Anduril Industries, Inc.
- Headquarters
- —
- Founded
- 2017
- Co-founder and CEO
- Brian Schimpf
- Core software
- Lattice
- Technology
- Autonomous defense systems
- Integration
- Sensors, command systems and autonomous platforms
- Developer ecosystem
- Lattice SDK and partner program
- Employees
- No published figure
Timeline
- Series D announced
Private funding supports expansion.
- Lattice developer ecosystem
SDK and partner program extend interoperability.
- Series H announced
A new private round is disclosed.
- Voyager propulsion partnership
Anduril and Voyager announced cooperation on advanced weapons and propulsion. Voyager supplies Anduril under a contract exceeding $60 million.
- Arsenal-2 submarine manufacturing plan
Anduril plans $3.7 billion of private investment in Maryland, alongside a Navy contract of up to $2.9 billion tied to production outcomes. Initial operations are expected in 2030.
Planned Arsenal-2 private investment
$3.7billionAnnounced capital commitment for Maryland manufacturing; not financing raised or money already spent. Initial operations expected in 2030.
Series H
USD 5 billionCompany-announced private equity financing.
Series H valuation
USD 61 billionPrivate financing valuation; pre/post-money basis is not stated in the announcement.
Employees
—No published figure
Navy Arsenal-2 contract ceiling
Up to $2.9 billionPayments linked to demonstrated production outcomes; maximum contract amount, not recognized annual revenue.
Operating cash flow
—No published figure
Financials
No complete financial history available
Revenue
Financial history unavailableComparable financial periods will appear here when available.
No comparable financial series
Available dated disclosures are included in the company overview. View disclosures →
Valuation & peers
Price-to-sales, revenue growth and gross margin
Comparable metrics unavailableComparable company figures for the same date are not available.
Revenue growth (%)
| Company | P/S | Growth | GM |
|---|---|---|---|
| Anduril | — | — | — |
| No published peer comparison | |||
Context: Private financing valuations and modeled market values do not establish an IPO valuation. Revenue run-rate is not used here to calculate a price-to-sales ratio.
Private valuation and funding details
Series H valuation
USD 61 billionPrivate financing valuation; pre/post-money basis is not stated in the announcement.
Series H
USD 5 billionCompany-announced private equity financing.
IpoHub score
How we score—Not rated
Balance sheet—
Growth—
Community—
Profitability—
Valuation—
Individual category scores are not available.
Where the money goes
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Use of proceeds—
Allocation percentages—
Net proceeds—
Details on the use of IPO proceeds are not available.
Key risks
Editorial analysisManufacturing delivery
Facilities, qualification and workforce development require sustained execution.
Government customers
Budgets, procurement requirements and milestone acceptance affect payments.
Capital commitments
Large planned investments can consume cash before new capacity earns revenue.
Deal terms
- Ticker
- Not confirmed
- Exchange
- Not confirmed
- IPO price
- Not confirmed
- Price range
- Not confirmed
- Pricing date
- Not confirmed
- First trading day
- Not confirmed
- Shares offered
- Not confirmed
- Deal size
- Not confirmed
- Underwriters
- Not confirmed
- Greenshoe shares
- Not confirmed
- Lockup
- Not confirmed
- Quiet period expirations
- Not confirmed
Anduril IPO: where and how to invest
Where can I invest in the Anduril IPO?
The Anduril IPO is currently marked as rumored; public share trading is not yet confirmed in this profile. If IPO subscriptions become available, you need a broker offering that specific deal to investors in your country. Having an account does not guarantee an allocation. After a confirmed listing, you can look for a broker that supports the relevant exchange.
Can I buy Anduril shares now?
Public trading in Anduril shares is not yet confirmed here. An announced or priced offering does not automatically mean you can buy the stock on an exchange. An IPO subscription and a private share purchase each have separate access requirements.
When is the Anduril IPO?
A confirmed first trading day for Anduril has not yet been published here. Check official company announcements and final offering documents; a planned timetable can change.
What is the Anduril IPO share price?
A confirmed IPO offer price for Anduril has not yet been published here. Private funding valuations and modeled private-market prices do not establish the eventual IPO share price.
What is Anduril's stock ticker and exchange?
A stock ticker for Anduril has not yet been confirmed here. An exchange has not yet been confirmed here. A proposed symbol or exchange does not establish that trading has begun. Verify the final listing announcement before placing an order.
Can I buy Anduril shares before the IPO?
Private transactions or funds may sometimes provide exposure to Anduril if a specific offer exists and you meet its requirements. This profile does not confirm an available private offer. A fund interest may provide indirect exposure rather than direct ownership of company shares. Private investments can have resale restrictions, uncertain valuations and limited exit options; a future IPO is not guaranteed.
Where can I find the Anduril IPO prospectus?
Check Anduril's official investor-relations announcements and publications from the relevant regulator and exchange. A confidential submission or an announcement about it is not a publicly available prospectus. Before subscribing, read the final prospectus for the risks, price, share class and offering terms.
More questions about the Anduril IPO
Is Anduril publicly traded?
A completed offering and public trading symbol were not verified in the 7 October 2026 review.
Is $61 billion its IPO valuation?
No. It is the company’s stated private Series H valuation from May 2026.
Is the $6.6 billion announcement annual revenue?
No. It combines planned $3.7 billion private investment and a Navy contract of up to $2.9 billion.
When will Arsenal-2 operate?
The issuer expects initial operations in 2030; this is a future target.
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