Irvine, California – Anduril Industries, the defense technology firm known for its AI-driven autonomous systems, is consistently signaling its intent for a future Initial Public Offering (IPO), although no specific timeline has been set. A recent social media thread by user Jawwwn, titled "Interested in when the Anduril IPO is coming? ⚔️ Here’s a thread of every mention (8) of an IPO from @anduriltech executives since September 2023 🧵," compiles numerous statements from company leadership affirming their public market ambitions. This ongoing discussion comes as Anduril's valuation has recently climbed to $30.5 billion.
Founded in 2017 by Palmer Luckey, Anduril has rapidly emerged as a significant disruptor in the defense sector, blending software and hardware to deliver advanced autonomous solutions for military and border security applications. The company's core offering, the Lattice OS software platform, integrates sensor data and coordinates autonomous systems across various domains, aiming to modernize U.S. and allied military capabilities.
Anduril executives have openly discussed the prospect of going public. CEO Palmer Luckey stated in June 2025, "We are definitely going to be a publicly traded company," adding that they are "running this company to be the shape of a publicly traded company." While he did not provide a specific IPO timeline, Luckey previously indicated in September 2023 that a public offering was unlikely before late 2026.
The company's robust financial standing, including a recent $2.5 billion funding round that pushed its valuation to $30.5 billion, suggests it does not currently need an IPO for capital raising. However, Chairman Trae Stephens told Bloomberg that Anduril aims to "scale into the largest problems for the national security community." Luckey also emphasized that a public listing is crucial for the company to secure "trillion-dollar defense contracts," which are often inaccessible to private entities.
Anduril's strategy involves building products first, offering ready-made solutions to the military, a departure from the traditional defense contractor model of "build to spec, win the bid and iterate slowly." This approach has enabled the company to double its 2024 revenue to $1 billion. Despite the strong intentions, an official S-1 filing has not yet been made public, indicating that the company is still preparing for its eventual debut on the public markets.