Anduril profile
Anduril is private, so public-market exposure is indirect unless or until a public listing exists.
What Anduril does
Anduril builds autonomous defense systems, counter-UAS, and loitering munitions around a software-first approach, selling an integrated command-and-control layer rather than only airframes. The commercially unusual part is the product posture: developing systems on internal funding and selling them as products, instead of being paid to develop them under a cost-plus contract. That inverts the traditional prime model — it concentrates risk on the company rather than the customer, and it means the useful question is adoption of the software layer, not the hardware headlines.
The product lines that define the company for research purposes:
- Counter-UAS systems
- Autonomous ground, air, and maritime systems
- Loitering munitions
- Software-defined command and control
- U.S. Army enterprise IT/software contract (up to $20B ceiling, awarded March 2026) integrating the Lattice platform for counter-UAS work tied to Joint Interagency Task Force 401
This profile is qualitative by design. It carries no share price, no price target, no valuation multiple, and no rating — those change faster than any page can honestly track, and the filings linked below are the authoritative source for them.
Anduril drone lineup
Anduril’s air-domain catalog includes autonomous air vehicles, interceptors, and loitering or attritable aircraft. Lattice is software, not an aircraft, and is excluded from this list.
| Offering | Type | Status | What it is |
|---|---|---|---|
| Bolt Official source | small uas | Active | Autonomous air vehicle for tactical reconnaissance and strike missions. |
| Altius Official source | tactical isr | Active | Tube-launched autonomous air vehicle for air, ground, and maritime launch. |
| Ghost Official source | tactical isr | Active | Expeditionary VTOL aircraft with modular payloads and autonomy. |
| Barracuda Official source | combat aircraft | Active | Family of air-breathing autonomous air vehicles for mass employment. |
| Fury Official source | combat aircraft | In development | High-performance autonomous air vehicle for the high-end fight. |
| Roadrunner Official source | combat aircraft | Active | Reusable VTOL autonomous air vehicle for launch, loiter, and recovery. |
| Roadrunner-M Official source | combat aircraft | Active | High-explosive interceptor variant of Roadrunner. |
Statuses are editorial classifications from the company’s current public catalog: active means currently presented for sale, delivery, or program work; development means publicly disclosed but not a mature production offering; legacy means retained for historical or installed-fleet coverage.
Recent contracts & awards
A dated log of the specific contracts, orders, funding, and deployments reported for Anduril, each tied to its primary source. This is a record of what was announced — a "selection", "award", or "partnership" is not the same as obligated money, so read each source before treating a figure as revenue. No figure appears here unless a source reported it.
- Anduril pitches autonomous aircraft to Poland for F-35 and Apache fleets
Defense News reported that Anduril is pitching autonomous uncrewed aircraft to Poland to operate alongside Poland's crewed F-35 and Apache fleets. The report discloses no contract value, signing date, program name, or delivery timeline, as this engagement is an early sales pitch and is not a signed contract. Researchers should verify any future awards on Defense News or Anduril's newsroom before treating the proposal as obligated funding.
Defense News: Anduril doubles down on Poland with autonomous aircraft pitch for F-35, Apache
Is Anduril going public?
Anduril has not filed for an IPO and remains privately held. The company's own newsroom confirmed a $5 billion Series H funding round in May 2026; no listing date or valuation figure is confirmed on that release. Company leadership has discussed IPO timing in press interviews without committing to a date. Treat any specific IPO date, price, or valuation you see elsewhere as unverified until it appears in an SEC filing or an Anduril-issued release.
Where Anduril sits in the value chain
Anduril is a pure-play: unmanned systems are the business rather than one line inside it, so the P&L moves with drone demand and has little else to cushion a slow procurement year.
Its disclosed activity spans aerial drones, ground robotics, counter-UAS, maritime autonomy. That placement is the single most useful thing to fix in your head before reading any coverage, because the same headline means different things at different layers: a large platform award is transformative for a pure-play, material but diluted for a diversified contractor, and only indirectly relevant to a component supplier whose exposure arrives later as build-rate demand. Retail coverage routinely applies one story to all three layers at once. For the layer-by-layer comparison across the sector, see the drone stocks research shortlist and the list of publicly traded drone companies.
What to watch
The signals worth tracking are structural, not price-based — they tell you whether the business is changing shape, which is what eventually shows up in the numbers.
- That there is no ticker to buy: any listing-related claim you encounter should be checked against official filings before it is believed.
- Whether the software layer is being adopted as the integrating command-and-control system by government customers, which is the durable position in this market.
- Where the company shows up in official contract announcements, since that is the only public, verifiable record of government work.
- How incumbent primes respond in the same mission areas, because counter-UAS and autonomous systems are contested categories rather than uncontested ones.
- Whether the Army's enterprise contract converts into recurring task orders (the first, ~$87M, was issued alongside the award) rather than remaining an unused ceiling: an IDIQ ceiling is the maximum the government may order, not a guarantee it will.
How to research Anduril
Every question below has one authoritative source, and using the wrong source is how most retail research goes wrong.
| Research question | Where the answer lives | What to look for |
|---|---|---|
| Is there anything to buy? | SEC EDGAR full-text search | Whether any registration statement exists at all — absent one, there is no public security. |
| Is the government work real? | Official DoD contract announcements | Awarding service and scope of work, rather than a company-issued announcement. |
| What is the acquisition pathway? | DIU and DARPA program pages | Whether the work runs through non-traditional agreements or a conventional program of record. |
| How would exposure even work? | Fund holdings disclosures | Whether any listed vehicle discloses a stake — indirect exposure is usually thin and unstated. |
- Because the company is private, there are no periodic filings to read; a full-text search on SEC EDGAR is the correct way to check whether any registration statement exists rather than relying on secondary reporting.
- The DoD contract announcements are the primary public record of awarded work and name the contracting service and scope.
- Program pages at the Defense Innovation Unit and DARPA describe the non-traditional acquisition pathways this kind of vendor typically uses.
- Product descriptions on the company site define the system portfolio; they are vendor material and should be read as positioning rather than as verified capability.
- The U.S. Army's own announcement of the March 2026 enterprise contract (contract number W9128Z-26-D-A001, Army Contracting Command at Aberdeen Proving Ground) is the primary record of its scope and ceiling value; read the ceiling-versus-obligated distinction there rather than in secondary coverage.
- Anduril's government work extends well beyond the Army: the Royal Australian Navy moved Ghost Shark, Anduril's extra-large autonomous undersea vehicle, into an A$1.7 billion program of record in September 2025, per Anduril's own newsroom, and in March 2025 the US Marine Corps awarded Anduril a 10-year, up to $642.2 million IDIQ contract for Installation-Counter small Unmanned Aircraft Systems at Marine Corps bases, also reported by DefenseScoop. Check the DoD contract announcements and Anduril's own newsroom directly for any awards beyond these two before assuming the customer list stops there.
- For how retail-adjacent access to a still-private company like Anduril actually works (accredited-investor funds, secondary marketplaces, and the caveats attached to each), see the guide to investing in pre-IPO companies rather than assuming a workaround exists.
- For which companies compete with Anduril in autonomous defense and counter-UAS, and for how the Lattice command-and-control software fits into that market rather than functioning as a standalone product, see the counter-UAS research page.
- For how Anduril's scale compares against other private defense-tech and drone companies, see the largest drone companies page rather than relying on funding-round headlines alone, since a private valuation is not a revenue or headcount figure.
One failure mode is worth naming explicitly: a company announcement describing a "selection", "award", or "partnership" is not the same as obligated money, and the two are easy to conflate because they use the same vocabulary. Check the official record before treating either as revenue. Our full approach is documented on the methodology page.
Anduril FAQ
What does Anduril do?
Anduril builds autonomous defense systems, counter-UAS, and loitering munitions around a software-first approach, selling an integrated command-and-control layer rather than only airframes.
Is Anduril publicly traded?
Anduril is not publicly traded, so there is no ticker to buy. Any claim otherwise should be verified against SEC EDGAR before it is believed.
What should investors watch with Anduril?
That there is no ticker to buy: any listing-related claim you encounter should be checked against official filings before it is believed.
Where can I research Anduril directly?
Go to the primary sources: Anduril official site, Anduril: $5B Series H raise announcement, U.S. Army: enterprise contract for IT/commercial solutions (March 2026), Forge Global: Anduril stock price. Avoid aggregator summaries when the filing itself is available.
Does Anduril stock trade under a ticker symbol?
No. Anduril has not filed for an initial public offering (IPO) and holds no ticker on any public exchange, so there is no symbol to look up in a brokerage app. A search result calling something "Anduril stock symbol" usually points to a private-market platform's internal listing code, not proof of a public listing.
What is Anduril's stock price on secondary markets like Forge Global?
Forge Global, a marketplace for pre-IPO shares, priced Anduril at $117.86 a share as of September 2, 2026, close to the $61 billion valuation Anduril's own $5 billion Series H round set in May 2026. That figure comes from trades among accredited investors on a private platform, not a public exchange order book, so it can move on thin volume and cannot be executed through an ordinary brokerage account. Check Forge Global's own page directly for the current number rather than a screenshot that may already be stale.
Can Anduril employees or outside investors sell or buy the stock?
Anduril employees typically get liquidity through company-run tender offers, scheduled windows where the company or an investor buys back a batch of employee shares at a set price, rather than an open-market sale at any time. Outside investors who are not employees generally need accredited-investor status to buy in through a secondary marketplace such as Forge Global or Nasdaq Private Market, and a trade still depends on an existing shareholder choosing to list shares. See the guide to investing in pre-IPO companies for the specific paths and their restrictions.
What are the risks of buying Anduril shares on a secondary market before an IPO?
Pre-IPO shares carry liquidity risk first: there is no guaranteed date to sell, since Anduril has not filed for an IPO and could stay private for years. They also carry valuation risk, because a Forge Global or Nasdaq Private Market price reflects a small number of matched trades rather than a full public order book, so the next print can move sharply on little volume. A buyer also needs accredited-investor status and typically pays platform fees that do not apply to an ordinary stock purchase. None of that is specific to Anduril, and none of it says anything about how the company's government contracts are actually performing.
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