Anduril, an artificial intelligence and defense company co-founded by Oculus VR inventor Palmer Luckey, has raised $2.5 billion and achieved a valuation of $30.5 billion as of last week, according to Bloomberg reports. The company, which first reached the $1 billion mark in 2019, is now planning to go public (IPO) in the medium term.
Anduril recently secured a $22 billion augmented reality contract from the Pentagon, signaling its ambition to tackle major national security issues. In 2024, the company is projected to generate about $1 billion in revenue, although it remains unprofitable, resulting in a price-to-sales ratio of 30.5.
Given the current geopolitical climate, including the use of AI-guided drones in recent military operations by Ukraine and Israel, the context may be favorable for an Anduril IPO. Comparatively, the price-to-sales ratios of traditional defense contractors like General Dynamics and Lockheed Martin are significantly lower, indicating potential investor caution regarding Anduril’s high valuation.
