Anduril's IPO announcement odds before May 2027 plummeted from 93¢ to just 20¢, a massive 73-cent drop that suggests major timeline changes. Industry analysts had pointed to late 2026 to early 2027 as the most likely IPO window, contingent on the company's Ohio manufacturing facility coming online. Founder Palmer Luckey tied IPO timing to proving the company could meet its aggressive July 2026 production timeline.

Recent reports indicate Anduril is raising up to $8 billion at a $60 billion valuation, doubling from its $30.5 billion valuation in June 2025. The company expects revenue to nearly double to $4.3 billion in 2026, driven by defense spending amid ongoing geopolitical tensions. However, the dramatic odds collapse suggests either internal delays, market conditions, or strategic shifts that could push public offerings well beyond early 2027.

The broader defense tech IPO landscape remains hot, but Anduril's specific timeline now appears far more uncertain than the market recently believed.