Is Anduril Industries or Applied Intuition equity better for employees?

It depends on your risk tolerance and time horizon. Anduril Industries is valued at $61B with secondary market signals at $61B (+0% premium). Applied Intuition is valued at $15B with secondary market at $16.6B (+11% premium). Use PrivatePulse's calculator to model your specific grant at each company.

What equity type does Anduril Industries grant versus Applied Intuition?

Anduril Industries grants ISO/NSO with strike prices typically ranging from $110–$145. Applied Intuition grants ISO/NSO with strike prices typically ranging from $60–$100.

What is the secondary market price for Anduril Industries versus Applied Intuition?

As of 2026-05, Anduril Industries secondary market trades imply a valuation of $61B on Tender, a 0% premium over the last primary round. Applied Intuition secondary market implies $16.6B as of 2026-04, a 11% premium.

PrivatePulse·Companies·Anduril Industries vs Applied Intuition

Anduril Industries vs Applied Intuition: employee equity compared

Secondary market prices, valuation trajectory, equity structure, and liquidity outlook for employees choosing between Anduril Industries and Applied Intuition.

Secondary market data updated monthly · Sources: Hiive, Forge

Anduril Industries

Defense · Costa Mesa, CA · Founded 2017

Defense technology — autonomous systems (Roadrunner, Ghost, Bolt), command software (Lattice), and counter-drone.

Last primary round$61B · Series H (2026-05)

Secondary market$61B (+0% vs primary)

Annual revenue$2.2B ARR · +100% YoY (very fast)

Headcount~5,000

Equity typeISO/NSO

Strike price range$110–$145 (depends on cohort)

Illiquidity discount~15%

Last round leadThrive Capital / Andreessen Horowitz

Liquidity outlook

IPO possible 2026–2028 as scale builds. No confirmed timeline; tender offers may provide interim liquidity.

Key equity angle

Government-contract stability; ISO/NSO options; longer liquidity timeline vs consumer tech

Full Anduril Industries profile Calculate my equity

↑ Higher secondary premium

Applied Intuition

Defense · United States · Founded 2017

Autonomous vehicle and ADAS software platform; tools for simulation, data management, and validation used by 19 of the 25 largest global automakers.

Last primary round$15B · Series F (2024-09)

Secondary market$16.6B (+11% vs primary)

Annual revenue$0.3B ARR · +200% YoY (very fast)

Headcount~700

Equity typeISO/NSO

Strike price range$60–$100 (depends on cohort)

Illiquidity discount~18%

Last round leadLux Capital / Andreessen Horowitz

Liquidity outlook

IPO plausible 2027–2029 if growth trajectory holds. Secondary indication near primary round valuation. Liquidity may come via tender offer or strategic acquisition before listing.

Key equity angle

Government-contract stability; ISO/NSO options; longer liquidity timeline vs consumer tech

Full Applied Intuition profile Calculate my equity

Key differences for employees

Equity structure

Anduril Industries grants ISO/NSO with strike prices ranging from $110–$145 depending on your grant year. Applied Intuition grants ISO/NSO with strike prices from $60–$100.

Secondary market premium

The secondary market is pricing Anduril Industries at a +0% premium over its last primary round ($61B → $61B). Applied Intuition trades at +11% over its last round ($15B → $16.6B). A higher secondary premium signals stronger investor demand and potentially better near-term liquidity for employees looking to sell.

Revenue and growth

Anduril Industries runs at $2.2B ARR, growing +100% YoY (very fast). Applied Intuition runs at $0.3B ARR, growing +200% YoY (very fast). Revenue growth rate matters for equity because it drives the peer-multiple valuation — the method most correlated with exit multiples.

Liquidity timeline

Anduril Industries: IPO possible 2026–2028 as scale builds. No confirmed timeline; tender offers may provide interim liquidity.

Applied Intuition: IPO plausible 2027–2029 if growth trajectory holds. Secondary indication near primary round valuation. Liquidity may come via tender offer or strategic acquisition before listing.

Calculate your specific grant

Enter your actual shares, equity type, and strike price. PrivatePulse calculates your personal equity value at both companies using 4 independent methods.

Calculate at Anduril Industries →Calculate at Applied Intuition →

Frequently asked questions

Is Anduril Industries or Applied Intuition a better company to work at for equity?↓

There's no universal answer — it depends on your risk profile, time horizon, and specific grant terms. Anduril Industries at $61B and Applied Intuition at $15B offer very different risk/reward profiles. Use the calculator above to model your exact grant at each company.

How do I know if my Anduril Industries or Applied Intuition equity is fairly priced?↓

Compare your grant's implied per-share value against the secondary market price. If investors are paying a premium on Hiive or Forge over the last primary round, that's a signal of strong demand. PrivatePulse shows you the gap between your 409A and what the secondary market says.

Can I sell my Anduril Industries or Applied Intuition shares on the secondary market?↓

Secondary market transactions (Hiive, Forge, Caplight) require accredited investor status and your company's consent — most private companies have right-of-first-refusal (ROFR) provisions. Tender offers, when available, are typically the most accessible path to partial liquidity for employees.

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