Glean's secondary-market valuation has compressed to an estimated $6.1–6.9 billion as of late October 2026, reflecting Forge and other platform marks around $39–44 per share. This marks a 15% or greater decline from the $7.2 billion post-money valuation set in its $150 million Series F round in mid-2025. The pullback occurred despite ARR reaching $300 million by May 2026, up sharply year-over-year, as private shares underperformed public peers like Elastic amid broader enterprise AI valuation normalization. No new primary funding or material positive catalysts have emerged in the final weeks to reverse the trend ahead of the October 31 resolution. Trader consensus therefore prices limited probability of crossing higher valuation thresholds on secondary prints alone.