Defense Tech Signals · Capital vs. Contracts Open-source analysis · public data only Data as of Nov 8, 2026 · obligations refresh every other Monday
NatSec100 #1

Anduril

Recipient: ANDURIL INDUSTRIES, INC. · UEI KC3CH2MSK7Q3, JA9NV8H3L2T9, T7XMQQPLGTJ1

About $2.39 raised for every $1 obligated. 60% of it came through prime contracts.

Capital raised
$11.9B
Federal obligations, FY2020–FY2026
$5.0B
Raised per $1 obligated
2.4×
Latest valuation
$90.0B
Series H, May 2026

Obligations by fiscal year

$M
103.2 FY20 95.5 FY21 231.9 FY22 326.8 FY23 801.8 FY24 1,060.6 FY25 2,346.0 FY26

Prime contracts Other Transactions Subawards

Contract mix

Prime contracts
$3.0B
Other Transactions
$1.8B
Subawards
$149.1M

Cite this: Defense Tech Signals, "Capital vs. Contracts: Anduril," data as of 2026-11-08, https://data.defensetechsignals.com/c/anduril/.

Coverage: prime contracts, IDVs and grants (USAspending), direct Other Transactions (FPDS) and subawards received, FY2020–FY2026. Not included: consortium OTs, FY 2027 so far, loans and classified work. Capital raised: Compiled from announcements and press (Oct 2026). Obligations last refreshed 11/5/2026.