On Thursday, it was reported that Anduril expected to double revenue this year to reach $4.3 billion at an operating loss of $1.2 billion, an increase of about 50%. This came out a few days after reports that the company was raising $4 billion at a $60 billion valuation, less than a year after having raised $2.5 billion at a $30.5 billion valuation in June 2025, which brought its total funding to $6.4 billion prior to the upcoming round.
These announcements came less than a week after the US launched Operation Epic Fury. Anduril co-founder Trae Stephens has confirmed that Anduril’s technology is being used by the US military in the operation, saying that Anduril has “counter-air systems that are present in conflict zones” and that the company is “actively working day to day” on ongoing operations. Anduril’s founding bet back in 2017 was that attritable, autonomous weapons systems would slowly replace expensive legacy platforms on the modern battlefield amidst a backdrop of increasing great power conflict. Less than 10 years later, that thesis is increasingly being validated.
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