Lyntris filed for an initial public offering on the NYSE under the symbol “LYNX.” The defense technology company says there has been no prior public market for its stock and both the company and certain stockholders will sell shares. Pricing terms and the number of shares were not disclosed in the preliminary prospectus.

Business Description

Lyntris is a defense technology company that provides ‘sense-to-act’ connectivity solutions designed to help warfighters detect earlier, decide faster, and act with precision in contested environments. The company integrates Sensor Hardware, Sensor Architecture, and Data & Software into modular solutions that can be deployed independently or as a full stack across space, air, land, and sea.

Lyntris generates revenue across three core missions: Maritime Domain Awareness, Air & Missile Defense, and Space ISR & Resilient Communications. Its model emphasizes embedded intellectual property, early engagement, and a high proportion of sole- or single-source positions, which can anchor multi-year program lifecycles from development through production and sustainment. The company serves U.S. Department of Defense and allied customers with vertically integrated engineering and manufacturing, proprietary RF subsystems and antenna systems, and mission software for data fusion and command-and-control.

Market Overview

  • Total addressable market: U.S. Golden Dome missile defense and space surveillance architecture estimated at ~$185 billion; space manufacturing and launch tied to 43,000+ new satellites by 2034 valued at ~$655 billion.
  • Market growth: Rising global defense budgets and accelerated procurement for connected, multi-domain operations.
  • Market position: Differentiated merchant supplier with deep IP and sole- or single-source roles across long-duration programs.
  • Key competitors: Fragmented field of component/subsystem vendors and large primes; few offer integrated, system-level solutions.
  • Industry trends: Convergence of sensing, communications, and C2; proliferation of space assets; emphasis on resilient, software-defined connectivity.

Operational Metrics

  • Customers: Positions across more than 200 defense programs; no single program exceeded 7% of 2025 revenue
  • Locations: Vertically integrated engineering, secure sites, and manufacturing across multiple U.S. facilities
  • Geographic presence: ~85% of 2025 revenue from U.S. programs; ~15% from allied international programs
  • Partnerships: Merchant supplier to primes and integrators; often sole- or single-source on key subsystems
  • Other key metrics: ~90% of 2025 revenue from sole- or single-source positions; workforce of 1,000+ employees as of June 30, 2026; backlog of ~$923.9 million as of June 30, 2026

Financials Highlights

  • Revenue (current): $388.9 million (FY2025)
  • Revenue growth: 16.5% year-over-year (2025 vs. 2024)
  • Gross profit: $115.1 million (29.6% margin)
  • Operating income: $24.8 million
  • Net income: Net loss of $8.5 million

Management

  • Brian Morrison, Chief Executive Officer - Former CEO of Accelint; senior roles at AeroVironment (BlueHalo) and General Dynamics Mission Systems; prior U.S. government service at DoW and HPSCI; U.S. military veteran.
  • Matthew Alty, President & Vice Chair - Former CEO of Vitesse; prior COO of Valence Surface Technologies; global leadership roles at Bodycote PLC.
  • Tim Paulin, Chief Financial Officer - Former CFO of Accelint and Accelint Industries (f/k/a Hypergiant Industries); prior roles at Subspace and Global Music Rights; started in M&A investment banking.

IPO Structure

  • Issuer: Lyntris Inc.
  • Filing date: July 23, 2026
  • Proposed ticker: LYNX
  • Exchange: NYSE
  • Lead underwriters: Evercore ISI; Citigroup; Guggenheim Securities; BofA Securities; Baird; Raymond James; William Blair
  • Use of proceeds: General corporate purposes, including additional development efforts, working capital, and operational expenses.

Original SEC Filing:

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