-43%

est. 2Y upside i

Series B

Adyton makes mobile applications for the Department of Defense, offering logistics and communications tools to improve military operations.

Rank

#202

Sector

Defense Technology, Enterprise Software

Est. Liquidity

~3Y

Data Quality

Data: Medium

Adyton operates in a high-barrier defense tech sector with a differentiated mobile-first platform.

Last updated: March 10, 2026

Bull (25%)+300%

Adyton's mobile-first platform achieves strong adoption within the U.S. DoD and expands into new public safety agencies, leveraging its unique compliance and security features. Revenue grows to over $22M by 2028, attracting a strategic acquisition at a premium 14x multiple, valuing the company at over $310M.

Base (55%)+144%

Adyton maintains its competitive edge in niche defense logistics and smart government software, growing revenue at a steady 50% YoY to approximately $17.3M by 2028. The company is acquired or goes public at a valuation of around $156M, reflecting a consistent 9x revenue multiple.

Bear (20%)-60%

Larger incumbents like Anduril or Thales introduce directly competing mobile solutions, or Adyton struggles with slower-than-expected government contract renewals and expansion. Revenue growth slows to 20% YoY, reaching only $11M by 2028, and a valuation contraction to 5x revenue ($55.4M) results in significant loss for common shareholders due to the $29M liquidation preference.

Est. time to liquidity~3.0 years

Preference Stack Risk

severe

Investors hold $29M in liquidation preferences ahead of common stock, representing 45.3% of the current $64M valuation.

Dilution Risk

moderate

As a Series B company, Adyton will likely require at least one to two more funding rounds, leading to further dilution for existing common shareholders.

Secondary Liquidity

none

There is no indication of active secondary markets or tender offers for Adyton's shares at this stage.

View all 2 open roles at Adyton →

Last updated: March 10, 2026

Questions to Ask at the Interview

Strategic questions based on Adyton's data — designed to show you've done your homework.

  • 1

    “Given the substantial resources and existing relationships of large defense contractors like Thales and Anduril, how does Adyton plan to continue differentiating its mobile-first offerings and prevent incumbents from replicating its success in the 'last mile' defense technology space?”

  • 2

    “With an estimated annual revenue of $7.7M and a recent Series B funding round, what are the specific milestones and growth targets Adyton aims to achieve over the next 12-24 months to justify a significant increase in valuation and attract future funding or acquisition interest?”

  • 3

    “Considering the $29M in total funding on a $64M valuation, which creates a severe liquidation preference for preferred shareholders, how does Adyton envision providing meaningful liquidity and returns for common stock holders, especially in scenarios where the exit valuation is not substantially higher than the current valuation?”

Community

Valuation Sentiment

Our model estimates -43% upside. What do you think?

Anonymous. Do not share material non-public information.

Community Discussion

Comments are reviewed before they appear publicly.

0/2000

Loading comments...

Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.