---
title: "Anduril revenue and valuation"
description: "Anduril's revenue is estimated at $1.36B–$6.88B, last reported at $2.25B. Valued at $61B after raising $11.3B. Funding rounds and competitors."
url: https://www.tryspecter.com/revenue-valuation/anduril.md
canonical_url: https://www.tryspecter.com/revenue-valuation/anduril
publisher: Specter
last_updated: 2026-11-01
---

# Anduril revenue and valuation

Specter estimates Anduril's annual revenue at $1.36B to $6.88B and its valuation at $74.9B to $108B. The company last reported $2.25B revenue in December 2025 and was priced at $61B in May 2026.

Anduril Industries develops advanced technology for military capabilities and border surveillance.

- Estimated revenue: $1.36B to $6.88B (October 2026)
- Estimated valuation: $74.9B to $108B (October 2026)
- Last reported revenue: $2.25B (December 2025)
- Total funding: $11.3B
- Founded: 2017
- Headquarters: Costa Mesa, United States
- Employees: 9,944
- Sector: Defense
- Specter Rank: #32,103

## Anduril revenue

Anduril grew from $500M revenue in December 2023 to $2.25B in December 2025. Specter's model puts current revenue between $1.36B and $6.88B, anchored to three reported figures.

| Reported figure | Date | Source |
| --- | --- | --- |
| $2.25B revenue | December 2025 | [Anduril doubles valuation to $61B in new $5B funding round](https://siliconangle.com/2026/05/13/anduril-doubles-valuation-61b-new-5b-funding-round/) (siliconangle.com) |
| $1B revenue | December 2024 | [Anduril raises 2.3 billion euros and aims to establish itself as the SpaceX of American defense](https://www.frenchweb.fr/anduril-leve-23-milliards-deuros-et-veut-simposer-comme-le-spacex-de-la-defense-americaine/455204) (frenchweb.fr) |
| $500M revenue | December 2023 | [mamstartup.pl](https://mamstartup.pl/rekordowa-inwestycja-2024-roku-anduril-pozyskuje-15-miliarda-dolarow-na-odbudowe-arsenalu-demokracji/) |

| Month | Specter estimate | Low | High |
| --- | --- | --- | --- |
| October 2026 | $3.06B | $1.36B | $6.88B |
| September 2026 | $2.55B | $1.48B | $4.41B |
| August 2026 | $2.58B | $1.68B | $3.96B |
| July 2026 | $2.67B | $1.76B | $4.05B |
| June 2026 | $2.48B | $1.53B | $4.04B |
| May 2026 | $2.49B | $1.76B | $3.52B |
| April 2026 | $2.28B | $1.51B | $3.43B |
| March 2026 | $2.37B | $1.79B | $3.14B |
| February 2026 | $2.2B | $1.64B | $2.95B |
| January 2026 | $2.1B | $1.67B | $2.66B |
| December 2025 | $2.25B | $1.87B | $2.71B |
| November 2025 | $2.1B | $1.31B | $3.38B |
| October 2025 | $1.97B | $1.23B | $3.13B |
| September 2025 | $1.84B | $1.19B | $2.83B |
| August 2025 | $1.72B | $950M | $3.1B |
| July 2025 | $1.6B | $1.15B | $2.24B |
| June 2025 | $1.5B | $950M | $2.37B |
| May 2025 | $1.4B | $1.03B | $1.91B |
| April 2025 | $1.31B | $940M | $1.82B |
| March 2025 | $1.22B | $930M | $1.61B |
| February 2025 | $1.14B | $910M | $1.45B |
| January 2025 | $1.07B | $860M | $1.33B |
| December 2024 | $1B | $830M | $1.2B |
| November 2024 | $940M | $520M | $1.7B |
| October 2024 | $890M | $540M | $1.48B |
| September 2024 | $840M | $460M | $1.54B |
| August 2024 | $790M | $490M | $1.27B |
| July 2024 | $750M | $510M | $1.1B |
| June 2024 | $710M | $490M | $1.02B |

## Anduril valuation

Anduril's valuation rose from $250M at its Series A in June 2018 to $61B at its Series H in May 2026. Specter's live estimate sits between $74.9B and $108B.

| Month | Specter estimate | Low | High |
| --- | --- | --- | --- |
| October 2026 | $90B | $74.9B | $108B |
| September 2026 | $74.1B | $61.2B | $89.6B |
| August 2026 | $61B | $50.7B | $73.3B |
| July 2026 | $61B | $50.7B | $73.3B |
| June 2026 | $61B | $50.7B | $73.3B |
| May 2026 | $61B | $50.7B | $73.3B |
| April 2026 | $60B | $49.9B | $72.1B |
| March 2026 | $60B | $49.9B | $72.1B |
| February 2026 | $42.8B | $35.2B | $52B |
| January 2026 | $30.5B | $25.4B | $36.7B |
| December 2025 | $30.5B | $25.4B | $36.7B |
| November 2025 | $30.5B | $25.4B | $36.7B |
| October 2025 | $30.3B | $25B | $36.9B |
| September 2025 | $30.2B | $25B | $36.5B |
| August 2025 | $30B | $24.9B | $36.1B |
| July 2025 | $14B | $11.6B | $16.8B |
| June 2025 | $30.5B | $25.4B | $36.7B |
| May 2025 | $28.2B | $23.8B | $33.5B |
| April 2025 | $26.1B | $22.4B | $30.3B |
| March 2025 | $24.1B | $19.6B | $29.8B |
| February 2025 | $22.3B | $17.3B | $28.9B |
| January 2025 | $20.7B | $17B | $25.2B |
| December 2024 | $19.1B | $15.8B | $23.1B |
| November 2024 | $17.7B | $14.9B | $21B |
| October 2024 | $16.4B | $13.7B | $19.6B |
| September 2024 | $15.1B | $12.6B | $18.3B |
| August 2024 | $14B | $11.6B | $16.8B |
| July 2024 | $29B | $24.2B | $34.7B |
| June 2024 | $60B | $49.9B | $72.1B |

| Reported valuation | Month | Source |
| --- | --- | --- |
| $61B | November 2026 | [finance.yahoo.com](https://finance.yahoo.com/markets/stocks/articles/anduril-keeps-winning-billion-dollar-025000485.html) |
| $90B | October 2026 | [en.sedaily.com](https://en.sedaily.com/international/2026/10/06/defense-startups-draw-record-408-billion-in-funding) |
| $61B | August 2026 | [news.crunchbase.com](https://news.crunchbase.com/venture/physical-ai-funding-startups-robotics-aerospace-h1-2026/) |
| $61B | July 2026 | [chosun.com](https://www.chosun.com/english/industry-en/2026/07/02/65YXVNBFUNGY3JAU4DK6R32IKI/) |
| $61B | June 2026 | [news.crunchbase.com](https://news.crunchbase.com/defense-tech/startup-venture-funding-all-time-record-ai-anduril/) |
| $61B | May 2026 | Funding round |
| $60B | April 2026 | [mtsprout.nl](https://mtsprout.nl/tech-innovatie/palmer-luckey-anduril-autonome-wapens-ai) |
| $60B | March 2026 | [axios.com](https://axios.com/2026/03/04/anduril-palmer-luckey-valuation) |
| $30.5B | January 2026 | [news.crunchbase.com](https://news.crunchbase.com/venture/largest-funding-rounds-genai-defense-eoy-2025/) |
| $30.5B | December 2025 | [africa.businessinsider.com](https://africa.businessinsider.com/news/aerospace-and-defense-startups-have-raised-over-dollar19-billion-this-year-here-are/bz6682z) |
| $30.5B | November 2025 | [businessinsider.com](https://www.businessinsider.com/defense-tech-vc-funding-rounds-2025-11) |
| $30B | August 2025 | [forbes.n1info.si](https://forbes.n1info.si/posel/najbolj-vroca-podjetja-na-svetu-rekorder-zbral-kar-40-milijard-dolarjev/) |
| $14B | July 2025 | [techcrunch.com](https://techcrunch.com/2024/08/07/anduril-raises-1-5b-to-hyper-scale-defense-production/) |
| $30.5B | June 2025 | Funding round |
| $14B | August 2024 | Funding round |
| $60B | June 2024 | [ft.com](https://www.ft.com/content/000673dd-1832-438d-b5e7-b3ec17944b17) |
| $30.5B | June 2023 | [techcrunch.com](https://www.techcrunch.com/post/3015593/anduril-raises-2-5b-at-30-5b-valuation-led-by-founders-fund/) |
| $8.5B | May 2022 | Funding round |
| $4.6B | June 2021 | Funding round |
| $1.9B | July 2020 | Funding round |
| $1B | September 2019 | Funding round |
| $250M | June 2018 | Funding round |

## Anduril funding rounds

| Date | Round | Raised | Post-money | Lead investors |
| --- | --- | --- | --- | --- |
| 13 May 2026 | Series H | $5B | $61B | Andreessen Horowitz, Thrive Capital |
| 10 Apr 2026 | Secondary | Undisclosed | Undisclosed | Undisclosed |
| 29 Jan 2026 | Grant | $150K | Undisclosed | XPRIZE |
| 16 Dec 2025 | Corporate round | $30M | Undisclosed | Alpha Compute Corp. |
| 5 Jun 2025 | Series G | $2.5B | $30.5B | Founders Fund |
| 7 Jan 2025 | Grant | $14.3M | Undisclosed | U.S. Department of War |
| 7 Aug 2024 | Series F | $1.5B | $14B | Founders Fund, Sands Capital Ventures |
| 19 Jan 2023 | Venture round | Undisclosed | Undisclosed | Undisclosed |
| 25 Oct 2022 | Secondary | Undisclosed | Undisclosed | Undisclosed |
| 24 May 2022 | Series E | $1.5B | $8.5B | Valor Equity Partners |
| 17 Jun 2021 | Series D | $450M | $4.6B | Elad Gil |
| 1 Jul 2020 | Series C | $200M | $1.9B | Andreessen Horowitz |
| 11 Sep 2019 | Series B | Undisclosed | $1B | General Catalyst, Andreessen Horowitz |
| 11 Jun 2018 | Series A | $41M | $250M | Founders Fund |
| 11 Aug 2017 | Seed | $17.5M | Undisclosed | Founders Fund |

## Anduril vs competitors

Defense technology firms compete by bridging legacy hardware manufacturing with modern autonomous software stacks.

| Company | Estimated revenue | Estimated valuation |
| --- | --- | --- |
| Anduril | $1.36B–$6.88B | $74.9B–$108B |
| Shield AI (shield.ai) | $260M–$1.14B | $23.9B–$34.6B |
| Kratos Defense and Security Solutions (kratosdefense.com) | $1.63B–$2.6B | $3.08B–$9.87B |
| AV (avinc.com) | $1.58B–$2.29B | $2.68B–$9.84B |
| Lockheed Martin (lockheedmartin.com) | $70.2B–$99.5B | $79.6B–$243B |

## Questions

### What is Anduril's revenue?

Specter estimates Anduril's annual revenue at $1.36B to $6.88B as of October 2026. Anduril last reported $2.25B revenue in December 2025, up from $500M in December 2023.

### What is Anduril's valuation?

Anduril's latest post-money valuation is $61B, from a May 2026 Series H. Specter's live estimate is $74.9B to $108B.

### What is Anduril's revenue multiple?

Anduril is valued at about 27.1× revenue, based on its $61B May 2026 valuation and $2.25B last reported revenue. That works out to roughly $226K of revenue per employee.

### How much funding has Anduril raised?

$11.3B across 15 rounds, from a $17.5M Seed in August 2017 to a $5B Series H in May 2026.

### Who invested in Anduril?

63 investors, including Alpha Compute Corp., Andreessen Horowitz, Founders Fund, Thrive Capital, U.S. Department of War and XPRIZE.

### Who are Anduril's competitors?

Shield AI, Kratos Defense and Security Solutions, AV and Lockheed Martin. Specter ranks 28 competitors for Anduril.

## About this data

Specter models revenue and valuation monthly and anchors each estimate to reported figures and priced rounds. Method: https://www.tryspecter.com/revenue-valuation

Cite as: Specter. "Anduril revenue and valuation." tryspecter.com/revenue-valuation/anduril. Updated November 2026.