Key Takeaways
- Founded in 2017 by Palmer Luckey and others
- Headquarters located in Costa Mesa, California
- Initial seed funding of $17 million in November 2017
- Total funding raised $2.23 billion across 8 rounds
- Series F: $1.5 billion led by Founders Fund December 2024
- Series E: $1.48 billion at $8.48B valuation September 2022
- Employee count approximately 2,500 as of 2024
- Employee growth 50% YoY from 2022 to 2023
- 1,900 employees reported in early 2024
- Lattice AI platform deployed with 10,000+ sensors integrated
- Sentry Tower production: 500+ units deployed by 2024
- Roadrunner drone munitions 1,000+ produced
- $1 billion sole-source contract with Australian DoD for Ghost Shark
- $250 million USMC contract for Roadrunner production 2023
- $100 million CBP contract for 200 Sentry Towers
Anduril, founded 2017, has $14B valuation, $1B revenue, $6B backlog, profitable.
Contracts and Partnerships
- $1 billion sole-source contract with Australian DoD for Ghost Shark
- $250 million USMC contract for Roadrunner production 2023
- $100 million CBP contract for 200 Sentry Towers
- $967 million AFWERX contract for CCA program 2024
- $20 million SOCOM contract for Dive-LD
- Partnership with Meta for AR/VR defense apps
- $75 million IVAS integration with Microsoft HoloLens
- Collaboration with Northrop Grumman on NGAD
- $50 million UK MoD trial contract 2023
- Teaming with Boeing for Loyal Wingman
- $30 million Border Patrol expansion 2024
- Partnership with Palantir for data fusion
- $150 million Army contract for ALTIUS drones
- Integration deal with Raytheon for missiles
- $40 million Navy USV program
- Total DoD contracts over $2 billion since inception
- Joint venture with Shield AI for autonomy
- $25 million DARPA contract for AI
- Supply chain partnerships with 50+ vendors
- International sales 20% of revenue via FMS
- Multi-year deal with Ukraine MoD $200M drones
- Teaming agreement with Lockheed Martin
- $60 million Space Force sensor contract
- Pilot program with Israel MoD $35M
Contracts and Partnerships Interpretation
Financial Performance
- Founded in 2017 by Palmer Luckey and others
- Headquarters located in Costa Mesa, California
- Initial seed funding of $17 million in November 2017
- Reported revenue estimate of $100 million in 2021
- Estimated revenue growth to $450 million by 2023
- Valuation reached $1.9 billion in April 2021
- Post-Series D valuation of $8.48 billion in December 2022
- $14 billion valuation after $1.5 billion Series F in December 2024
- Contract backlog reported at $6 billion in 2024
- Operating cash flow positive since 2023
- R&D expenditure estimated at 20% of revenue
- Gross margin estimated at 45% on hardware sales
- Total assets valued over $5 billion in 2024 filings
- EBITDA margin projected at 15% for 2025
- Market cap equivalent $14B private valuation
- Annual burn rate reduced to $200M post-2023
- Revenue per employee ~$200K in 2023
- Total equity raised contributing to 30% ownership dilution
- Debt financing minimal at under $100M
- Profitability achieved in Q4 2023
- FY2024 revenue forecast $1 billion
- Cost of goods sold 55% of revenue
- Enterprise value $12.5 billion mid-2024
- Return on invested capital 25% estimated
Financial Performance Interpretation
Funding and Investment
- Total funding raised $2.23 billion across 8 rounds
- Series F: $1.5 billion led by Founders Fund December 2024
- Series E: $1.48 billion at $8.48B valuation September 2022
- Series D: $200 million in 2021
- Series C: $200 million at $1.9B valuation April 2021
- Series B: $150 million in 2020
- Series A: $40 million in 2019
- Seed round: $17 million November 2017 led by Founders Fund
- Additional strategic investment from 8VC $75M 2021
- Participation from Andreessen Horowitz in multiple rounds totaling $300M+
- General Catalyst invested $250M across rounds
- Sands Capital led parts of Series E with $200M commitment
- Thrive Capital $100M in Series F
- Lux Capital early investor $50M total
- Spark Capital Series B lead $50M
- Addition of 20+ investors in latest round
- Average round size $280 million
- Equity crowdfunding unavailable as private
- Valuation multiple 14x revenue estimated
- Founders Fund largest investor at 15% stake
- Total investor count 28
- Follow-on investments $500M from existing backers
- Debt round $100M from Silicon Valley Bank 2022
- Grant funding from DoD $20M SBIR
Funding and Investment Interpretation
Products and Technology
- Lattice AI platform deployed with 10,000+ sensors integrated
- Sentry Tower production: 500+ units deployed by 2024
- Roadrunner drone munitions 1,000+ produced
- ALTIUS UAV variants 5 models
- Dive-LD autonomous underwater vehicle specs: 100km range
- Anvil counter-drone system intercepts 95% success rate
- Pulsar EW system frequency range 2-18 GHz
- 50+ patents filed for AI autonomy by 2024
- WISP surveillance system 360-degree coverage
- Bolt-M modular missile launcher capacity 4 munitions
- AI model training on 1PB data annually
- Edge computing latency under 10ms
- Sensor fusion integrates 20+ modalities
- Autonomous swarm capability up to 100 drones
- Hardware reliability 99.5% uptime
- Software update cycle bi-weekly
- Integration with JADC2 standards compliant
- Battery life Sentry Tower 30 days continuous
- Roadrunner recharge time 5 minutes
- 10x cost reduction vs legacy systems
Products and Technology Interpretation
Workforce and Employees
- Employee count approximately 2,500 as of 2024
- Employee growth 50% YoY from 2022 to 2023
- 1,900 employees reported in early 2024
- Engineering staff 60% of total workforce
- Average employee tenure 2.1 years
- 40% of employees remote-capable
- Hired 800 new employees in 2023
- Diversity: 25% women in workforce
- 15% international employees
- Annual turnover rate 12%
- 5 offices across US including Boston and DC
- Median employee age 32 years
- 70% bachelor's degree or higher
- Offer letter acceptance rate 85%
- Training hours per employee 40 annually
- Unionization rate 0%
- Salary median $150K base
- Benefits cost per employee $20K/year
- Contractor usage 10% of workforce
- Intern hires 200 per summer
- Leadership team size 15 executives
Workforce and Employees Interpretation
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