Anduril Industries
Anduril Industries is a defense technology company that develops autonomous weapons systems, surveillance infrastructure, and AI-driven command platforms for the U.S. military and allied forces. Founded from Peter Thiel's venture capital network, it has grown into a major federal contractor with $2.32 billion in obligations. Its significance lies in the overlap between its investor base, its personnel who have moved into senior government roles, and the procurement decisions that affect its contract portfolio.
Anduril Industries is a defense technology company incorporated in Delaware in April 2017 and headquartered in Costa Mesa, California, according to corporate registry and GLEIF records 1. Co-founded by Palmer Luckey, the creator of the Oculus VR headset, and Trae Stephens, a Founders Fund partner and former Palantir employee who led the Department of Defense transition team for the first Trump administration, the company has grown from $10 million in revenue during its first twenty months to approximately $2 billion in 2025, according to financial analysis 2 3. Anduril has accumulated $2.32 billion in total federal contract obligations, led by the Department of Defense at $1.43 billion and DHS at $862 million 4.
The company occupies a distinctive position in the defense industrial base as the primary vehicle through which Peter Thiel's venture capital network intersects with Pentagon procurement. Founders Fund led Anduril's $2.5 billion Series G round in June 2025 with a $1 billion check — the largest single investment in the fund's history — valuing the company at $30.5 billion. Anduril is now a frontrunner for the Golden Dome missile defense program alongside consortium partners SpaceX and Palantir, all three of which share Founders Fund as an investor, according to analysis of investment records 5. Multiple former Anduril employees now hold senior positions in the agencies that oversee Anduril's contracts, including the Under Secretary of the Army and the DHS Chief Information Officer.
As of early 2026, Anduril's valuation has risen to an estimated $60-91 billion, according to media reports 3. The company produces autonomous air vehicles, underwater systems, surveillance towers, counter-drone systems, and the Lattice AI command-and-control platform 6, and is building the Arsenal-1 hyperscale manufacturing facility in Columbus, Ohio, for mass production beginning July 2026 2.
Founding, Thiel Network Origins, and Capital Structure
Anduril's origin story is inseparable from Peter Thiel's defense technology ecosystem. Trae Stephens, who worked at Palantir from 2008 to 2014 before joining Founders Fund as a partner, conceived the idea for Anduril at a Founders Fund retreat in 2014. He recruited Palmer Luckey, who had recently departed Facebook following the sale of Oculus VR, and the two incorporated Anduril Industries, Inc. in Delaware on April 20, 2017, according to corporate registry records 1. The company was registered through Incorporating Services, Ltd. of Dover, Delaware, and assigned LEI 254900CIXLZUXXNYQW57 7.
Anduril has raised $6.26 billion across seven funding rounds 2. The trajectory accelerated sharply: Series F in August 2024 raised $1.5 billion at a $13 billion valuation, followed by the Series G in June 2025 at $2.5 billion and a $30.5 billion valuation. Founders Fund led the Series G with a $1 billion commitment — its largest single investment — while the round attracted 63 investors including Andreessen Horowitz, 8VC, Lux Capital, General Catalyst, Thrive Capital, Sands Capital, Fidelity, and Franklin Venture Partners 2. 1789 Capital, the defense-focused fund partnered with Donald Trump Jr., also participated in the Series G, creating a direct Trump family financial interest in Anduril's government contract outcomes.
SEC EDGAR filings reveal at least twenty special purpose vehicles offering secondary market access to Anduril shares, including SPVs from Dominari, Augurey Ventures, Aurochs Capital, Tomales Bay Capital (Lux Capital), and Greenbird Intelligence Fund 8. Major mutual fund holders include Fidelity, Franklin Strategic Series, BlackRock Science & Technology Trust, and Variable Insurance Products Fund 8. This secondary market activity suggests that economic exposure to Anduril extends beyond its direct investor base into the broader institutional investor ecosystem.
Federal Contract Portfolio
Anduril's total federal contract obligations stand at $2.32 billion across all agencies, with the Department of Defense accounting for $1.43 billion and DHS for $862 million 4. Contract growth has been explosive: FY2024 obligations reached $456 million (178.7% growth from FY2023's $164 million), FY2025 totaled $563 million, and FY2026 through early March showed $176 million 9. Revenue approximately doubled from $1 billion in 2024 to $2 billion in 2025, according to financial analysis 3. Records indicate the company operates through multiple federal entities — Anduril Industries Inc., Anduril LLC, and Anduril Engineering LLC — all receiving federal funds 10.
The largest single contract is the Army's IVAS (Integrated Visual Augmentation System) program. Microsoft won the original ten-year, $22 billion IVAS production contract in March 2021 for 120,000+ custom HoloLens headsets, but years of delays and performance failures led to a formal contract novation in April 2025 that transferred the entire program to Anduril. Palmer Luckey described the transfer as encompassing "employees, hardware, IP, facilities, everything". Tom Keane, a former Microsoft Azure executive who transitioned with the contract, reported that software release cycles were reduced from 180 days to 18 hours. In September 2025, the Army awarded $159 million in SBMC (IVAS Next) prototype contracts to Anduril.
Other key programs include the TITAN deep-sensing system for long-range fires, where Anduril leads hardware design and manufacturing alongside Palantir as prime contractor under a $178.4 million agreement 11. Anduril manufactures ten TITAN vehicles, with prototypes delivered on time in 2025 and a production decision expected FY2026 11. At DHS, Anduril has $511 million in CBP border surveillance tower contracts, with contract approval authority running through Corey Lewandowski since January 2025. The $94 million Altius 600M-V loitering munitions production contract for the Navy (February 2025) and counter-drone systems for SOCOM and USMC round out the active portfolio 9.
Golden Dome and the SpaceX-Palantir-Anduril Consortium
Anduril is a member of the consortium alongside SpaceX and Palantir that proposed a satellite-based missile defense architecture for the Golden Dome program, potentially worth up to $175 billion, according to analysis of contract records and media reports 5. The proposal calls for 400 to 1,000 tracking satellites plus 200 attack satellites equipped with missiles and lasers, according to reporting on the consortium proposal 5. Records indicate Anduril received a Space-Based Interceptor prototype contract in November 2025 and was selected for the $151 billion SHIELD IDIQ in December 2025 3. The company has also partnered with D-Wave and Davidson on quantum optimization for missile defense computations, according to analysis of public announcements 3.
The structural significance of Golden Dome lies in its convergence of financial interests. All three consortium principals — SpaceX, Palantir, and Anduril — are Founders Fund portfolio companies. Kenneth Howery, Founders Fund co-founder and current Ambassador to Denmark, oversees Greenland infrastructure including the Pituffik Space Base, whose AN/FPS-132 radar is critical to Golden Dome's tracking architecture. Yet Howery's ethics agreement, which requires recusal from matters affecting SpaceX and Founders Fund IV Principals Fund, does not list Anduril at all — despite Founders Fund's $1 billion investment. This gap means Howery could participate in Pituffik infrastructure decisions that directly benefit Anduril's Golden Dome bid without formal recusal obligations, a concern identified by analysis of his ethics disclosures.
1789 Capital, the fund partnered with Donald Trump Jr., holds positions in both SpaceX and Anduril, creating a direct financial interest for the president's family in the outcome of a program the president announced. The systemic analysis identifies Golden Dome as the convergence point where multiple identified revenue streams — SpaceX subscriptions, Palantir C2 platforms, Anduril autonomous systems, and Thiel network financial exposure — converge in a single procurement.
Revolving Door and Government Personnel
Anduril's leadership draws extensively from the national security establishment. Christian Brose, promoted to President and Chief Strategy Officer in January 2025, served as Staff Director of the Senate Armed Services Committee for three years under Senator John McCain and is the author of The Kill Chain, according to review of public records 12. Gregory Kausner, a senior vice president, is a former DOD official. According to LDA filings, Megan Milam serves as a registered federal lobbyist 12. According to analysis of their backgrounds, this recruitment pattern from congressional defense committees and the Pentagon provides institutional knowledge of defense procurement processes 12.
The movement of personnel also flows in the opposite direction. Michael Obadal, former Anduril Senior Director (January 2023 to present per his disclosure), now serves as Under Secretary of the Army — the position overseeing Army acquisition and modernization programs that include Anduril contracts. His financial disclosures show $10-50 million in Anduril vested and unvested RSUs, with the Anduril equity alone exceeding his stated net worth range. Senator Elizabeth Warren sent a letter to the Office of Government Ethics raising concerns about Obadal's failure to divest, noting that Anduril holds the $22 billion IVAS contract from the Army. Ethics lawyer Richard Painter called it "unheard of for a presidential appointee in the Defense Department to retain a financial interest in a defense contractor".
Antoine McCord, DHS Chief Information Officer, holds $100-250 million in Anduril stock plus $5-25 million in stock options and RSUs. As CIO, McCord oversees DHS technology infrastructure and IT procurement for the agency that has awarded Anduril $862 million in contracts. Ryan Wunderly, an Anduril software engineer from 2020 to 2025, now serves as Special Advisor in the Office of the Secretary at Treasury, retaining Anduril stock options and equity valued at $100-250 million. Gregory Barbaccia, the Federal CIO at OMB and a ten-year Palantir veteran, held a $100-250 thousand Anduril stake through a VC fund before reportedly divesting in March 2025. This concentration of Anduril equity holders across DHS, Army, Treasury, and OMB is unusual for a single defense contractor.
Lobbying and Political Strategy
Anduril registered its first lobbying activity in September 2017 — the same month as its founding — through Invariant LLC, the firm led by Heather Podesta 13. Initial quarterly spending of $20,000 focused on homeland security issues, growing to $110,000 per quarter by 2020, for a total of $1.24 million tracked through Invariant alone during 2017-2020 14. By Q4 2020, the lobbying operation expanded to include Thorn Run Partners, Cornerstone Government Affairs, and an in-house registration under Megan Milam 13. Total disclosed lobbying through the LDA filings reached $7.95 million across 100 filings from 2017 through 2024.
The political donation landscape shows a bipartisan distribution that is unusual among defense technology companies. Founder Palmer Luckey has donated $921,000, with 81% flowing to Republican recipients including $250,000 to the Republican National Committee. CEO Brian Schimpf, by contrast, donated $245,000 — 100% to Democratic recipients through ActBlue and candidates including Pat Ryan, Alex Padilla, and Alexander Vindman. This CEO-versus-founder split ensures that Anduril maintains relationships regardless of which party controls Congress or the White House, a pattern identified as potentially deliberate in FEC analysis.
Anduril and Scale AI share Cornerstone Government Affairs and Mehlman Consulting as lobbying firms, with 21 individual lobbyists working for both companies, according to analysis of LDA filings 15. The Anduril PAC receives contributions from senior employees with government backgrounds: Chris Brose (former SASC staff director), Gregory Kausner (former DOD official), and Megan Milam (registered lobbyist) 16. Anduril's total lobbying spend of $7.95 million places it as the largest spender among new-generation defense technology companies, ahead of Shield AI ($6.85 million) and Palantir ($4.29 million tracked during the same period).
Autonomous Weapons Portfolio and Manufacturing
Anduril's product line spans air, land, sea, undersea, space, and command-and-control domains, all unified through the Lattice AI software platform 6. The Fury (YFQ-44), one of two winning designs for the Air Force's Collaborative Combat Aircraft program, has demonstrated fully autonomous flight matching F-16 maneuver performance and earned a "Fighter" designation 6. In March 2026, the Fury tested mid-flight switching between Shield AI's Hivemind and Anduril's Lattice autonomy stacks — a test of interoperable autonomous fighter control 6. The Air Force may acquire approximately 1,000 CCA aircraft, pairing two autonomous systems per advanced crewed fighter 6.
The Roadrunner, a six-foot, twin-turbojet reusable interceptor operating at high subsonic speeds, occupies the space between drone and reusable missile 6. The Altius family includes loitering munitions with ranges up to 620 miles and 15-hour endurance, with the Navy awarding a $94 million Altius 600M-V production contract in February 2025 9 6. Other systems include Ghost autonomous reconnaissance helicopters, Anvil kinetic counter-UAS drones, Dive-LD autonomous underwater vehicles, and Sentry Tower solar-powered surveillance installations 6. Anduril's Lattice software coordinated autonomous drone swarms in Iran during Operation Epic Fury, validating Fury, Roadrunner, and Barracuda as combat-ready systems.
Arsenal-1, announced January 2025, represents Anduril's bid to become a mass manufacturer of autonomous weapons. Located near Rickenbacker Airport in Pickaway County, Ohio (roughly 16 miles southeast of Columbus), the $1 billion facility will span 5 million square feet on 500 acres and produce tens of thousands of military systems annually 2. It is described as the largest job-creation project in Ohio history, generating 4,000 direct and 4,500 indirect jobs 2. Initial production of Fury, Roadrunner, and Barracuda autonomous air systems is scheduled to begin July 2026 2.
International Presence and Corporate Structure
Anduril Industries UK Ltd. (company number 12316056) was incorporated on November 14, 2019, with its registered address at 2 New Street Square, London — the offices of Freshfields Bruckhaus Deringer 17. Current directors include Matthew Marley Grimm (American, appointed at incorporation, listed at 1400 Anduril, Costa Mesa, CA), Richard Daniel Drake (British, appointed 2024), and Maury David Shenk (British, appointed 2024) 17. No persons with significant control are listed on the UK filing 17.
Palmer Luckey was sanctioned by China in December 2025 alongside nine other U.S. defense executives and twenty companies over Taiwan arms sales. In February 2026, Luckey conducted a secret two-day visit to Israel, meeting Prime Minister Netanyahu and senior defense officials. These international engagements reflect Anduril's growing role in allied defense technology markets. Anduril has no FARA registrations, confirming it does not act as a foreign agent 7. Luckey is also co-founder of Erebor Bank in Columbus, Ohio, alongside Joe Lonsdale of 8VC and Palantir, backed by Peter Thiel — a financial institution focused on the defense and technology sectors.
All Connections
33 total
All Connections
33 totalAnduril DoD obligations: 1.43B all-time. Navy 245M, SOCOM 115M, DARPA 5.3M.
Anduril DHS obligations: 862M all-time, second-largest customer.
Anduril Lattice software coordinated autonomous drone swarms in Iran; Fury/Roadrunner/Barracuda validated as combat-ready systems
8VC early investor in Anduril; defense technology company with billion-dollar Pentagon contracts
1789 Capital invested in Anduril 2.5B Series G (Jun 2025) led by Founders Fund. Creates Trump family financial interest in Anduril Golden Dome contracts (SHIELD, SBI, IVAS 22B).
DHS contract approval authority over Anduril 511M in CBP border tower contracts since Jan 2025
Anduril employee assigned to Treasury as Special Adviser for IT/Modernization
Co-founder of Founders Fund which led Anduril's $2.5B Series G with $1B check (June 2025). Anduril frontrunner for Golden Dome program with Arctic/Greenland components. Howery oversees Greenland as Denmark ambassador.
Anduril received SBI prototype contract Nov 2025 and selected for $151B SHIELD IDIQ Dec 2025. Frontrunner for space-based interceptor component.
Lobbying firm representing Anduril on Defense/Budget issues, Q4 2020-present, .12M total LDA income
Meta is key partner on Anduril SBMC team; $159M OTA awarded Sept 4 2025 for EagleEye mixed reality combat system
$159M SBMC OTA awarded Sept 4 2025 for mixed reality combat goggle prototype; part of $22B IVAS program replacement
Obadal was Senior Director at Anduril 2023-2025, then confirmed as Under Secretary of Army Sep 2025. Army awarded Anduril $20B enterprise contract Mar 2026.
Founders Fund led Anduril's $2.5B raise at $30.5B valuation (Jun 2025) - largest check in fund history ($1B). Trae Stephens (Founders Fund) co-founded Anduril.
Consortium partners bidding for Golden Dome. Both Thiel-backed. Palantir has separate $10B Army enterprise contract; Anduril has $20B version.
Anduril acquired ExoAnalytic Solutions Mar 11 2026 - space surveillance firm with global telescope network. Provides space domain awareness for Golden Dome interceptor targeting.
Bosworth CTO of Meta which is key partner to Anduril on $159M SBMC contract; Bosworth also D201 Army Reserve LTC advising on Army tech transformation
CBP autonomous surveillance tower program of record. 300+ towers deployed. SBIR Phase III IDIQ 70B02C20D00000019 with $700M+ in delivery orders. Largest single order $363M (Dec 2025).
$20B enterprise contract W9128Z-26-D-A001 (Mar 2026). First task order $87M counter-drone C2. Also $22B IVAS headset program (taken from Microsoft Feb 2025), Ghost-X drones, TITAN, RCV, Roadrunner.
Founded Anduril Industries in 2017; company valued at 30B
a16z investor in Anduril via American Dynamism fund; Anduril has 2.36B in federal contracts
8VC invested in Anduril Industries
861M in DHS/CBP contracts for border surveillance towers, Lattice AI platform
Anduril approved as SHIELD IDIQ vendor (one of 2,440 approved). Anduril also holds $22B IVAS contract from Army. Multiple existing DoD contracts totaling $360M visible in USASpending.
Senior VP of Engineering at Anduril. Key role in IVAS contract transfer from Microsoft.
Seed investor (2017). Josh Wolfe wrote personal check into Anduril seed round. Tomales Bay Capital Anduril I/II/III SPVs (Lux) hold secondary market shares. Also organized Palmer Luckey Israel defense trip (Feb 2026).
Both are Golden Dome SBI prototype awardees (Nov 2025, 4 known winners). Both SHIELD IDIQ awardees (151B ceiling). Compete for space-based interceptor production contracts worth 1.8B-3.4B annually. Both backed by Thiel-connected VC (Narya/Founders Fund).
Founders Fund is Anduril's largest single investor at $1B+ (June 2025). Kenneth Howery (FF co-founder, Ambassador to Denmark) ethics agreement explicitly excludes Anduril from recusal obligations despite FF being primary Anduril investor.
SpaceX and Anduril are co-members of the Golden Dome missile defense consortium along with Palantir. Both are Founders Fund portfolio companies. Musk and Luckey both participated in Trump inaugural giving ($1.89B+ combined). Both have DOGE-linked personnel in regulatory agencies overseeing their operations.
Scott Sanders (Forterra CGO) is former early Anduril employee. Both compete for DoD ground autonomy programs.
Both part of Silicon Valley/PE-to-Pentagon pipeline; Feinberg (Cerberus) as DepSecDef has oversight of contracts going to Anduril; Trae Stephens (Anduril co-founder) was competing with Feinberg for same DepSecDef position
All Findings
22 total
All Findings
22 totalfinancial (16)
Anduril DHS border surveillance contracts show temporal pattern: Trae Stephens led DoD transition (Nov 2016-Jan 2017), co-founded Anduril Jun 2017 targeting border surveillance. First CBP contract FY2019 ($6.8M). First major DHS award FY2020 Q4 ($60.7M) — same quarter Kratsios was acting USD(R&E). Contract grew to $363M single award on Dec 25, 2025 (FY2026 Q1), weeks after Howery and Helberg confirmations. Total DHS Anduril contracts: $20K (FY2019) to $363M single award (Dec 2025). Anduril also received Golden Dome prototype contracts in late 2025 and $20B Army enterprise agreement Mar 2026.
Anduril total federal contract obligations: .31B all-time. FY2024: M (178.7% growth from FY2023 M). FY2025: M. FY2026 so far: M. Top agencies: DoD .43B, DHS M. Key programs: Altius 600M-V loitering munitions (M, Navy, Feb 2025), GhostShield, CUXS counter-drone systems (SOCOM), I-CSUAS installations (USMC). Post-Jan 20 2025: 34 awards totaling M.
Anduril revenue trajectory: $10M (first 20 months, 2018-19), ~$100M (2020), ~$150M (2021), $420M (2023), $1B (2024, +138% YoY). New contracts exceeded $1.5B in 2024 vs $675M in 2023. Arsenal-1 hyperscale manufacturing facility in Columbus, OH: 5M sq ft on 500 acres near Rickenbacker Airport, $1B Anduril investment, 4,000 direct + 4,500 indirect jobs (largest job-creation project in Ohio history). Production of Fury, Roadrunner, and Barracuda autonomous air systems to begin July 2026.
Revenue growth: Founded April 2017, hit $10M in first 20 months. $100M by July 2020. $150M estimated 2021. $420M in 2023 (300% YoY 2021-2023). $1B in 2024 (138% YoY). Growth driven by contract wins including Marine Corps Bolt-M, Army IVAS takeover, Navy Altius 600M-V production. Arsenal-1 factory: Announced January 2025. Location near Rickenbacker International Airport in Pickaway County, ~16 miles SE of Columbus. At full scale: 5M sq ft manufacturing floor, will produce tens of thousands of military systems annually. Combines scalable software-driven manufacturing for rapid mass production of autonomous weapons. Initial production: Fury (CCA fighter drone), Roadrunner (reusable interceptor), Barracuda (underwater). Start date July 2026. Total funding: $6.26B across 7 rounds. Series F (Aug 2024): $1.5B at $13B valuation. Series G (June 2025): $2.5B at $30.5B, led by Founders Fund ($1B largest check ever). 8x oversubscribed. Discussing new round at $60B+ valuation. 63 total investors including Founders Fund, a16z, 8VC, Lux Capital, General Catalyst, Thrive Capital, Sands Capital, Altimeter, Fidelity, Franklin Venture Partners, Baillie Gifford, Morgan Stanley.
Anduril Golden Dome positioning: Valuation reached 60-91B (sources vary), up from 30.5B June 2025. Revenue doubled from 1B (2024) to 2B (2025). Key Golden Dome contracts: SBI prototype winner, SHIELD awardee, member of SpaceX-Palantir consortium. Also took over 22B IVAS from Microsoft (Army contract novation April 2025), teamed with Meta for IVAS recompete. Partnered with D-Wave/Davidson on quantum missile defense optimization. Possible IPO 2026.
Anduril is the nexus point for multiple Golden Dome threads: (1) SBI: One of 4 known Space Force SBI prototype contract winners (with Northrop, Lockheed, True Anomaly). (2) SHIELD: Among 2100+ IDIQ awardees under 151B ceiling. (3) Consortium: Member of SpaceX-Palantir-Anduril consortium proposing 400-1000 tracking + 200 attack satellites. (4) IVAS: Army signed contract novation April 2025 transferring Microsoft 22B IVAS to Anduril. Teamed with Meta for next recompete. (5) Quantum: Partnered with D-Wave and Davidson on missile defense quantum optimization (Jan 2026). (6) Lattice AI: All Anduril hardware unified through Lattice AI software platform, positioned for C2 integration. (7) Autonomous weapons: Fury CCA drone, Roadrunner interceptor, Altius loitering munitions all relevant to Golden Dome intercept layer. (8) Investors: Founders Fund (1B Series G -- largest FF check ever), a16z American Dynamism, multiple Golden Dome-connected VCs. Palmer Luckey founder, Trae Stephens co-founder/chairman and Founders Fund partner.
Total federal spending: DOD 1.43B, DHS 862M, DOE 25M, Commerce 490K. SAM registered as Anduril Federal (DBA), DE-incorporated 2017, HQ DC, primary NAICS 334511. HigherGov shows 24 tracked contracts totaling 107M predominantly Marine Corps (69M) and AFLR (22M).
USASpending total 2.32B across all agencies. HigherGov sub-total 107M (24 contracts) — discrepancy suggests most Anduril awards are OTAs or IDV task orders not fully tracked. Key programs: I-CSUAS counter-drone systems (multiple Marine Corps bases), YELLOWSTONE (AFRL 20M), Organic Precision Fires (USMC 14M). SAM gov POC: Babak Siavoshy. Auditor: E&Y.
Anduril lobbying via Invariant LLC: 1.24M tracked spending Q3 2017-Q4 2020 on Defense (DEF) and Homeland Security (HOM) issues. Started at 20K/quarter in 2017, grew to 110K/quarter by Q1 2020. Added Thorn Run Partners and Cornerstone Government Affairs in Q4 2020 and began in-house lobbying (DEF/TEC/TRD issues). Lobbying spend scaled with contract growth.
LDA filings show Anduril retained Invariant LLC as primary lobbyist from founding in 2017. Spending trajectory: Q3 2017 20K -> Q2 2019 100K -> Q1-Q4 2020 110K/quarter. Issues consistently Defense and Homeland Security. In Q4 2020 expanded to three additional lobbying entities: Thorn Run Partners (30K, DEF/BUD), Cornerstone Government Affairs (DEF/BUD), and in-house Anduril Industries Inc (DEF/TEC/TRD and DEF/HOM). The in-house lobbying registration in Q4 2020 coincided with Anduril's rapid growth phase. Note: this only covers 2017-2020 in the results — more recent filings likely show significantly higher spend given revenue growth from 100M to 2B.
Procurement spike: Anduril federal spending surged 178.7% in FY2024 (FY2023 $235.8M -> FY2024 $657.1M), then moderated to $611.5M in FY2025. 3-year CAGR of 42.6% far exceeds sector norms. Combined USASpending total exceeds $2.36B since FY2019.
US Army awarded Anduril a $20B firm-fixed-price enterprise contract (W9128Z-26-D-A001) on Mar 14 2026, consolidating 120+ separate procurement actions into single 10-year vehicle covering Lattice AI platform, hardware, data infrastructure, and support services. Awarded by Army Contracting Command, Aberdeen Proving Ground. First task order: $87M for JIATF 401 counter-drone C2 capability.
Contract structure functions as an ordering guide where any federal buyer can procure Anduril commercially-made products. Firm-fixed-price structure transfers cost risk to Anduril. Follows model of Palantir 10-year $10B enterprise agreement from prior year. No evidence of formal competition for the contract vehicle itself - consolidation of existing sole-source commercial relationships. Contract number W9128Z-26-D-A001, completion March 12, 2036.
Anduril federal contract obligations show exponential growth trajectory: FY2019 $6.8M, FY2020 $90.3M, FY2021 $53.5M, FY2022 $210.7M, FY2023 $235.8M, FY2024 $657.1M, FY2025 $611.5M, FY2026 $494.7M (partial year). Total tracked obligations exceed $2.3B. Defense revenues estimated at $950M in FY2024, making Defense News Top 100 at #93. Company valued at $30.5B after Founders Fund-led $2.5B raise (Jun 2025), reportedly raising another $4B at $60B valuation (Mar 2026).
USASpending timeline data shows Anduril went from near-zero federal revenue to over $600M/year in contract obligations within 5 years. FY2024 spike to $657M reflects REPLICATOR, IVAS headset takeover, and expanding CBP tower program. Growth trajectory: 0 -> 7K -> 90M -> 54M -> 211M -> 236M -> 657M -> 612M -> 495M(partial). This is one of the fastest-growing federal contractors in history.
Anduril CBP autonomous surveillance tower program is largest DHS contract: $362.9M tower purchase order (Dec 2025), plus $50.7M, $44M, $41.9M, $50.3M, $37M in additional delivery orders - all under parent IDIQ 70B02C20D00000019 awarded via SBIR Phase III authority. 300+ towers deployed along US-Mexico border. Program designated CBP 'program of record.' Total DHS/CBP contract value exceeds $700M across all delivery orders.
All CBP tower contracts are delivery orders under a single SBIR Phase III IDIQ (70B02C20D00000019). SBIR Phase III authority allows sole-source procurement without size limits once a company has won Phase I/II - this is how Anduril has avoided competitive bidding for a massive border surveillance program. The $362.9M single delivery order (70B02C26F00000035, Dec 2025) for tower purchases is the largest individual CBP order.
Anduril REPLICATOR program involvement: selected for Replicator 1.2 tranche with Ghost-X and Altius-600 UAS. SOCOM awarded $86M 3-year contract for autonomy software integration (Lattice). Pentagon awarded $250M contract for 500 Roadrunner counter-drone interceptors plus Pulsar EW capability. Anduril also won $100M CDAO edge data mesh contract via OTA (Dec 2024). Additional $94M Navy contract for Altius 600M-V loitering munitions production (Feb 2025). $159M Soldier Borne Mission Command contract. $250M air defense production contract.
Key FY2024-2025 contracts from USASpending data: N0016425CJR94 Navy $94M Altius 600M-V production, N6833524C0294 Navy $6.7M SBIR Phase III, M6785425F0199 USMC $10.4M I-CSUAS hardware, M6785426F1012 USMC $24M loitering munition rounds, M6785426F0032 USMC $10.5M GBAD hardware. Anduril now operates across all military domains: land (autonomous towers), air (Ghost-X, Altius drones), sea (underwater vehicles), and space (Golden Dome SBI prototype). Third US solid rocket motor supplier, breaking L3Harris/Northrop duopoly.
Anduril acquired ExoAnalytic Solutions, a space surveillance firm, on March 11, 2026 - just 3 days before the $20B Army enterprise contract announcement and during active Golden Dome interceptor prototype work. ExoAnalytic operates a global network of optical telescopes tracking objects in space - capability directly relevant to Golden Dome space-based interceptor targeting. Acquisition positions Anduril to provide space domain awareness for missile defense kill chains.
The timing is notable: Anduril acquires space surveillance capability (Mar 11) -> Army announces $20B enterprise contract (Mar 14) -> First task order $87M for counter-drone C2 (Mar 17). ExoAnalytic gives Anduril indigenous space situational awareness that would be essential for any space-based interceptor system. Combined with Anduril's Golden Dome SBI prototype contract, this makes Anduril a vertically integrated space defense company.
Anduril federal contract spending exploded from 6.8M (FY2019) to 657M (FY2024), 611M (FY2025), 494M (FY2026 partial)
USASpending timeline shows Anduril Industries exponential federal contract growth: FY2019 6.8M, FY2020 90.3M, FY2021 53.5M, FY2022 210.7M, FY2023 235.8M, FY2024 657.1M, FY2025 611.5M, FY2026 (partial) 494.7M. Total: 2.36B. DHS/CBP awards include 362.9M Autonomous Surveillance Towers SBIR Phase III IDIQ (Dec 2025), multiple border surveillance tower contracts. DoD contracts include 20B Army Lattice C2 contract (March 2026). Anduril lobbied on Defense and Homeland Security issues continuously since 2017 Q3, initially through Invariant LLC (20K-110K/quarter), then expanded to in-house lobbying, Thorn Run Partners, and Cornerstone Government Affairs.
Anduril DHS border surveillance: 861M total, including 363M SBIR Phase III for Autonomous Surveillance Towers (Dec 2025)
Anduril Industries received 861.6M from DHS, all through CBP. Major awards: 362.9M Autonomous Surveillance Towers SBIR Phase III IDIQ (Dec 2025), 50.7M (Sep 2025), 44M (Sep 2025), 41.8M (Aug 2025), 50.3M (Jun 2024), 37M (Aug 2024), 67.2M (Jun 2022), 36.9M (Jun 2021). First major DHS contract was 4.8M in June 2018 for 10 Lattice-powered surveillance towers in San Diego/Yuma. By 2020, CBP formalized Lattice as Program of Record with 85M expansion. 290 surveillance towers installed along Mexico border as of 2023. The Dec 2025 363M award came 5 months after Andreessen's appointment to HSAC, though this is an ongoing CBP program predating HSAC reconstitution.
Anduril assumed $22B IVAS contract from Microsoft via Army contract novation, Apr 2025
On Feb 11, 2025, Microsoft and Anduril announced partnership to transfer the Army's IVAS (Integrated Visual Augmentation System) program. On Apr 10, 2025, the Army signed the contract novation transferring Microsoft's 10-year, $22B contract to Anduril. Anduril received employees, hardware, IP, and facilities. Microsoft retained role as Azure cloud provider. Anduril not expected to produce new hardware but focused on software deployment (accelerated from 180 days to 18 hours). Meta also partnering with Anduril on mixed reality devices for military use (May 2025).
Anduril contract portfolio: $360M+ visible in USASpending, dominated by counter-UAS and loitering munitions
USASpending shows 50 Anduril Industries contracts totaling $360.4M visible in public data. Largest: ALTIUS 600M-V loitering munitions production ($94M); GHOSTSHIELD ($17M); HEIMDALL ($13.3M); Counter Intrusion System ($19.8M); I-CSUAS (counter small UAS) installations at multiple bases (Yuma, Miramar, Cherry Point, JBAB, Wallops Island, Iwakuni, K-Bay). Also: PM GBAD Home Alone I-CSUAS hardware ($10.5M). Anduril has now also assumed the $22B IVAS contract. Approved for SHIELD IDIQ ($151B ceiling) for Golden Dome.
relationship (3)
Anduril and Scale AI share CORNERSTONE GOVERNMENT AFFAIRS and MEHLMAN CONSULTING as lobbying firms — suggests coordinated defense tech political strategy
Both Anduril Industries and Scale AI retained CORNERSTONE GOVERNMENT AFFAIRS INC (16 filings for Anduril, 11 for Scale AI) and MEHLMAN CONSULTING INC/Bruce Mehlman (13 filings for Anduril, 3 for Scale AI). Shared lobbyists include: ALEXANDER PERKINS, ALYENE MLINAR, CAITLIN VAN SANT, DAVID THOMAS, DEAN ROSEN, ELISE FINLEY PICKERING, ERICA CHABOT, HEATHER MOLINO, HELEN TOLAR, LAUREN ARONSON, LISA GOLDMAN, MATT SCHNAPPAUF, MICHAEL GOODMAN, MICHAEL ROBINSON, NICHOLE DISTEFANO, PAUL THORNELL, ROSEMARY GUTIERREZ, SAGE EASTMAN, STEPHEN COTE, WILLIAM SMITH, ZACHARY MALLOVE. This 21-lobbyist overlap indicates either a deliberate coordination strategy or an industry-standard approach via the same firms.
Anduril lobbying via two firms: Invariant LLC (since Sep 2017, lobbyists include Heather Podesta, Benjamin Klein, Robert Hoffman, Sean Joyce) and Cornerstone Government Affairs (since Nov 2020, lobbyists include William Smith (fmr Staff Director House Approps), Anthony Lazarski (fmr Senate Armed Services staffer), Heather Molino (fmr Staff Director House Intelligence), James Richards, Susan Sweat (fmr staffer to Sen. Wicker)). Q1 2025 filings show lobbying on FY25/FY26 DoD Appropriations and FY26 NDAA under both Defense and Budget/Appropriations issue codes.
Cornerstone lobbyist William Smith was formerly Staff Director of the House Appropriations Committee - the key committee that controls defense spending. Anthony Lazarski was Professional Staff Member on Senate Armed Services Committee. Heather Molino was Staff Director of House Intelligence Committee. These are very senior former congressional staff with direct access to defense spending decisions. Heather Podesta at Invariant is a well-known DC power lobbyist.
Anduril lobbied DHS and Defense continuously since Q3 2017, spending grew from 20K to 110K+/quarter via Invariant LLC, expanded to 4 firms by 2020
Senate LDA records show Anduril Industries lobbied on Homeland Security and Defense issues from Q3 2017. Initially exclusively through Invariant LLC: Q3 2017 20K, Q4 2017 60K, then steady growth to 110K/quarter by Q4 2019. Continued at 110K/quarter through Q3 2020. In Q4 2020 added three more lobbying operations: in-house lobbying (Anduril Industries Inc as both registrant and client - Defense/Telecommunications/Trade), Thorn Run Partners (30K - Defense/Appropriations), and Cornerstone Government Affairs (Defense/Appropriations). This multi-firm lobbying expansion coincided with Anduril's federal contract surge from 6.8M (FY2019) to 90.3M (FY2020). Lobbying issues consistently focused on Homeland Security and Defense.
intelligence (2)
Anduril lobbying expenditures through Invariant LLC grew from $20K (2017) to $110K+ per quarter (2019+), focused on Defense and Homeland Security. USASpending confirms $169M+ in DoD contract awards including $94M Altius 600M-V loitering munitions production, $19.8M counter-intrusion systems, $11.4M SBIR Phase III autonomous force protection, and $10M autonomous surveillance counter-intrusion. Anduril now holds novated IVAS contract (potentially $22B) plus $159M SBMC prototype award. Anduril PAC established with Palmer Luckey contributions.
Anduril lobbying trajectory shows rapid scaling of political influence operation: 2017 Q3-Q4: $20K-$60K (Homeland Security focus). 2018: $60K-$80K (added Defense issues). 2019: $80K-$110K. Lobby firm Invariant LLC handles all filings. Key contract milestones: Feb 2025 Microsoft partnership/takeover of IVAS, Apr 2025 Army novation signed, Sep 2025 SBMC contracts awarded (Anduril $159M, Rivet $195M). Wilson Sonsini advised Anduril on the Microsoft partnership. Palmer Luckey FEC data shows extensive Republican donor activity including $50K to One Team Senate Majority (2025), multiple $3.5K donations to Senate candidates including Ashley for Iowa, Rogers for Senate, Whatley for Senate, Alaskans for Dan Sullivan. Also $5K to Lincoln Club of Orange County Federal PAC and $5K to New Majority Federal PAC.
Anduril autonomous weapons product portfolio spans air, land, sea, undersea, space, and C2 domains. Key systems: Fury (YFQ-44) CCA fighter drone — fully autonomous flight demonstrated, earned USAF 'F' designation after matching F-16 maneuver performance, now flying with AIM-120 AMRAAM. Roadrunner — twin turbojet reusable interceptor. Altius 600M-V/700/900 — loitering munitions (600-mile range, 15hr endurance). Ghost — autonomous recon helicopter. Anvil — kinetic counter-UAS drone. Dive-LD — autonomous underwater vehicle. Sentry Tower — solar-powered autonomous surveillance. All unified through Lattice AI software platform. Air Force may acquire ~1,000 CCA aircraft.
Fury (YFQ-44): One of two winning CCA Increment I designs for USAF. Jet-powered, AI-piloted. Semi-autonomous first flight. Earned 'F for Fighter' after demonstrating autonomous high-speed taxi, takeoff, complex flight maneuvers matching manned F-16 performance. Now flying with AIM-120 AMRAAM (air-to-air missile). USAF suggests 1,000 CCA aircraft eventually, pairing 2 autonomous systems per advanced crewed fighter. March 2026: tested switching between Shield AI's Hivemind and Anduril's Lattice autonomy stacks mid-flight. Roadrunner: 6 ft long, twin turbojet-powered delta wing. High subsonic speeds, extreme maneuverability. Between drone and reusable missile. Arsenal-1 production starting July 2026. Altius family: 600M-V (loitering munition, $94M Navy production contract Feb 2025), 700 (demo to 4th unit), 900 (620-mile range, 15+ hour flight, 90-lb payload). Air-launched UAV. Lattice: Open software platform that fuses sensor data across air/land/sea/subsurface into common operating picture. Commands and controls mission autonomy. Ghost: Autonomous recon helicopter, VTOL, 60 min flight time, 60 mile range, 12,000 ft ceiling. Anvil: Kinetic counter-UAS — destroys drones via impact force, reusable. Dive-LD: Autonomous underwater vehicle for deep-water ISR, mine countermeasures, anti-submarine warfare. Sentry Tower: 33-foot solar-powered surveillance tower with camera, comms, radar, thermal imaging. Menace-I: Integrated C4 structure for austere environments. TITAN: Deep-sensing system for long-range fires (with Palantir as prime). Space: Selected for Golden Dome space-based interceptor prototype alongside Lockheed, Northrop, True Anomaly.
identity (1)
Anduril Industries UK Ltd - Matt Grimm as director since incorporation
Anduril Industries UK Ltd. (12316056, incorporated 2019-11-14). Address: 2 New Street Square, London EC4A 3BZ. Current directors: Matthew Marley Grimm (American, appointed at incorporation, address: 1400 Anduril, Costa Mesa CA), Richard Daniel Drake (British, 2024), Maury David Shenk (British, 2024). Former director: Michael Miles Galvin (American, 2022-2023). No PSC records on file. The 2 New Street Square address is Freshfields Bruckhaus Deringer's London office.
Full Timeline
4 events
Full Timeline
4 events- 1.Finding #4565
- 2.Finding #4670
- 3.Finding #4734
- 4.Finding #4960
- 5.Finding #4569
- 6.Finding #4675
- 7.Finding #4578
- 8.Finding #4574Sources: SEC EDGAR EFTSSource record
- 9.Finding #4557
- 10.Finding #4577
- 11.Finding #4568
- 12.Finding #4576
- 13.Finding #4567
- 14.Finding #4997
- 15.Finding #5080Sources: LDA Senate filingsSource record
- 16.Finding #4566Sources: FEC APISource record
- 17.Finding #4932