HawkEye 360 (HAWK.US), a provider of satellite signal intelligence to U.S. government agencies, is planning to raise $416 million through an initial public offering (IPO). In a filing submitted to the U.S. Securities and Exchange Commission (SEC) on Monday, the company stated it intends to offer 16 million shares priced between $24 and $26 per share. At the top end of the range, HawkEye 360's market valuation would reach $2.4 billion. The filing indicates that the Herndon, Virginia-based company achieved revenue of $117.7 million in 2025, a significant increase from $67.6 million the previous year. It reported a net profit of $48,000, compared to a net loss of $31.2 million a year earlier. Founded in 2015, HawkEye 360 owns and operates a constellation of more than 30 satellites capable of intercepting radio frequency signals from emitters such as radars, jammers, and satellite phones. It uses its proprietary signal processing algorithms to handle classified data for the U.S. government. This offering coincides with sustained enthusiasm for IPOs in the defense technology sector, as ongoing global geopolitical conflicts continue to drive increases in military spending worldwide. Arxis (ARXS.US), a supplier of electronic components for aerospace and defense companies, increased its IPO size this month and raised $1.3 billion, with its stock surging 38% on its first trading day. Military drone manufacturer Aevex (AVEX.US) saw its shares rise 35% on its market debut after completing a $368 million IPO. According to data from PitchBook, HawkEye 360 was valued at nearly $2 billion in a recent $173 million Series E funding round led by NightDragon. Shareholders owning more than 5% of the company include NightDragon, Insight Partners, Singapore's state-owned investment firm GIC Pte, and Razor's Edge Ventures II. The company's order backlog grew more than sixfold last year to nearly $303 million, up from $44 million the previous year. Proceeds from the IPO are expected to be used for debt repayment and to cover deferred payments related to the company's acquisition of Dallas-based signal processing technology provider Innovative Signal Analysis in December. Goldman Sachs Group and Morgan Stanley are leading the offering. HawkEye 360 plans to list on the New York Stock Exchange under the ticker symbol "HAWK".