Satellite Signals Firm Eyes $416M IPO

Hawkeye 360, a key provider of satellite-based signals intelligence for US government agencies, is preparing for an initial public offering with the goal of raising $416 million. The company plans to offer 16 million shares, priced between $24 and $26 each. If successful at the higher end of this range, Hawkeye 360 could achieve a market valuation of $2.4 billion.

Based in Herndon, Virginia, the company has demonstrated strong financial growth. Its revenue escalated to $117.7 million in 2025, a substantial rise from $67.6 million in 2024. Concurrently, Hawkeye 360 reported a net income of $48,000, a significant improvement from a net loss of $31.2 million the prior year.

Founded in 2015, Hawkeye 360 operates a fleet of over 30 satellites. These satellites are designed to detect radio signals from various emitters and process this classified data using proprietary algorithms for government clients. The company's backlog also expanded significantly, increasing over six-fold to nearly $303 million as of last year.

This IPO initiative occurs during a period of heightened activity in the defense technology market, spurred by global conflicts and increased military spending. Recent IPOs in this sector, such as Arxis Inc. and Aevex Corp., have seen strong initial trading performance. Hawkeye 360 itself was recently valued at nearly $2 billion following a $173 million Series E funding round.

Proceeds from the offering are designated for debt repayment and to finance a deferred payment linked to its recent acquisition of Innovative Signal Analysis. Goldman Sachs Group Inc. and Morgan Stanley are managing the offering, with shares expected to trade on the New York Stock Exchange under the ticker HAWK.