Anduril Industries
ConvictionStrong
autonomous-weapons "new prime" · vertically-integrated hardware + Lattice AI software, fixed-price product model
Revenue
~$2.1–2.2BFY2025, company-disclosed); ~$1.0B (FY2024); ~$4.3B projected (FY2026, per secondary researchRev growth
~110% YoYFY2024→FY2025); ~2x guided again into FY2026Gross margin
Not disclosed — Anduril targets above-prime'software-like' margins via fixed-price product sales + Lattice licensing; no audited margin is public (private companyOp margin
Not disclosedCapex intensity
Not disclosedValuation
~$61B impliedSeries H, $5B raised, May 2026; doubled from $30.5B in June 2025Valuation trail
$61B61.0× since Sep 2019
7 marks · Sep 2019–May 2026
private — no public price
Priced round
All priced primary rounds; Seed (2017) and Series A (2018) omitted — no valuation disclosed at the time (aggregator-implied figures only).
The read
Where our coverage leans
Coverage leans bullish
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Full financial intelligence for Anduril Industries
Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
Not investment advice — analyst work product for a qualified professional.· intel vintage Q2 2026 (Jun 2026)· sign in (free) for the analyst summary; Pro unlocks full intelligence