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Epirus Stock (EPIR)
Epirus designs and builds high-powered microwave products for the defense and commercial sectors.
Epirus is a defense technology company that develops high-powered microwave products for the government and commercial sectors.
About Epirus Stock
Founded
2018
Headquarters
Torrance, CA, US
Total Funding
544M
Industries
Manufacturing, Software, Science and Engineering
Epirus designs and builds electronic warfare and air domain awareness tools, including high-powered microwave products for the defense and commercial sectors. The company is a developer of software-defined electromagnetic pulse (EMP) technology designed to take down unmanned aircraft systems (UAS), drones and other asymmetric technologies.
Epirus Press Mentions
Stay in the know about the latest news on Epirus
Directed Energy Weapons Market Size Expected to Reach $22.2 Billion by 2032
einpresswire • Jun 21, 2025
Microwave blasters can down even jam-proof drones
economist • Jun 12, 2025
Venture capital investment is rising in Los Angeles — and not just for AI startups
latimes • Jun 07, 2025
This giant microwave may change the future of war
technologyreview • Jun 01, 2025
14 defence startups that show how AI is redefining modern warfare
globalventuring • May 07, 2025
Epirus Management
Leadership team at Epirus
Chief Executive Officer
Andy Lowery
Chief Operations Officer
Mick Jaggers
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Epirus Key Facts
- Epirus delivered a counter-drone capability to a U.S. Navy warfare center in April 2025, following successful demonstrations of its Leonidas Expeditionary system. This delivery supports the U.S. Marine Corps' experimentation objectives and enhances Ground Based Air Defense (GBAD) capabilities. Additionally, Epirus announced a strategic teaming agreement with Peraton in February 2025, to collaborate on a $48 billion Defense Technical Information Center (DTIC) Information Analysis Center (IAC) Multiple Award Contract (MAC) IDIQ. These partnerships underscore Epirus's increasing market penetration within the U.S. defense sector and its favorable position for future government contracts.
- As part of its expansion, Epirus plans to open an immersive simulation center in Oklahoma in Q3 2025. This facility will provide a training environment for warfighters on the Leonidas system. This initiative demonstrates Epirus's commitment to enhancing user proficiency and ensuring effective deployment of its technology, which can drive further market adoption.
- Epirus closed an oversubscribed $250 million Series D funding round on March 5, 2025, bringing its total venture funding to over $550 million. This capital is specifically to "hyperscale" the production capabilities of its Leonidas™ high-power microwave (HPM) system, designed to counter drone swarms and other electronic threats. This investment directly bolsters operational performance by enabling increased manufacturing capacity and supporting the deployment of Leonidas across multiple defense applications, thereby expanding its market adoption.
- Epirus's primary market is the defense sector, making it heavily reliant on government contracts and funding cycles. While they have secured significant awards, the U.S. government's acquisition processes can be protracted and subject to shifting priorities, budget constraints, or political changes. This could lead to delays in contract fulfillment, reduced order volumes, or intense competition, impacting Epirus's revenue predictability and sustained growth.
- The counter-UAS and directed energy market is rapidly evolving and attracting significant investment from both established defense contractors (e.g., Raytheon, Lockheed Martin, BAE Systems, L3Harris) and other innovative startups (e.g., Anduril, Shield AI). While Epirus's Leonidas system offers unique capabilities, competitors are also developing advanced solutions, including lasers, kinetic interceptors, and other electronic warfare systems. The risk of technological obsolescence or being outmaneuvered by a more effective or cost-efficient solution from a competitor remains a challenge.
- While the recent Series D funding aims to "hyperscale" production, transitioning from development and prototyping to mass production of complex defense systems can present significant operational challenges. This includes securing a robust and resilient supply chain for specialized components, managing manufacturing efficiencies, and attracting and retaining a skilled workforce. Delays or inefficiencies in scaling production could impact delivery schedules, increase costs, and potentially damage Epirus's reputation with key defense customers.
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