News about Anduril

Anduril has filed notice of a tender offer that would let some employees sell stock and options, valuing the company at roughly $90 billion. That is 48% above the $61 billion valuation from a May 2026 funding round and about three times its June 2025 level. Reuters projects $4.3 billion in sales this year, which the author calculates at about 21 times sales, and estimates Anduril will lose $1 billion this year, with a first profit possibly not before 2030. Anduril also plans to spend $3.7 billion on a shipyard producing submarine parts for the U.S. Navy, a highly capital-intensive project. The author admires the company but argues that as an IPO and a stock, Anduril is likely to look vastly overpriced.

Anduril CEO Brian Schimpf defended the company's ties to the Trump administration, noting co-founder Palmer Luckey's appointment to a Department of Defense group, and said Anduril has 'done incredibly well under Biden.' He said contracts are won on merit through the Pentagon's competitive bid process. Anduril announced a shipyard contract worth up to $2.9 billion on Oct. 6 and won a multi-year DOD contract worth up to $20 billion in March. The company opened a tender offer to employees in 16 countries valuing it at $90 billion, up from $60 billion five months earlier. Schimpf said Anduril is not rushing into an IPO, while Luckey has said he eventually wants to take the company public.

Anduril announced that the U.S. Navy has awarded it a $2.9 billion contract to build components for the Virginia-class nuclear attack submarine fleet. To support this, the company plans to invest $3.7 billion in a new 2 million-square-foot "Arsenal 2" shipyard at Sparrows Point, outside Baltimore, making it a key supplier to incumbent primes Huntington Ingalls (HII) and General Dynamics (GD). The article argues Anduril is unlikely to replace these builders immediately, but it could become an indispensable part of the supply chain and later grow its own shipbuilding business. Anduril is also developing autonomous undersea vehicles such as Dive-LD and Dive-XL, and Arsenal 2 is not expected to begin operations before 2030.