The revenue collapse and widening losses underscore Swarmer's pre-revenue stage and dependence on material new contracts. Monitor for announcements of large-scale deployments or partnerships, as the current cash runway (approx. 5 quarters at Q1 burn rate) may require additional financing if revenue does not materialize.
Price Chart
Executive Summary
Swarmer reported Q1 2026 revenue of $20,325, down 82% from $110,704 a year ago, and a net loss of $(4.5) million, widened from $(0.7) million. EPS of $(0.28) significantly missed the consensus estimate of $(0.11), as the legacy customer relationship ended and operating expenses surged 5.6x due to public company costs and R&D investment. The cash position improved to $23.5 million from IPO and preferred stock proceeds, but the company remains pre-revenue with no clear near-term profitability.
Key Financial Metrics
Key Facts
- Revenue declined 82% YoY to $20,325 from $110,704
- Net loss widened to $(4.5) million from $(0.7) million
- EPS of $(0.28) missed consensus estimate of $(0.11)
- Operating expenses surged to $4.5 million from $0.8 million
- Cash and equivalents at $23.5 million, up from $9.3 million at year-end 2025
- IPO raised $17.3 million in net proceeds; Series A-1 raised $3.5 million
Financial Impact
Revenue decline of $90,379 YoY (82%); net loss increase of $(3.8) million
Risk Factors
- Continued revenue decline as legacy customer relationship ends
- Cash burn rate of ~$4.3 million per quarter from operations
- Dependence on future contract wins and government procurement cycles
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3293942 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 6, 2026 20d ago | DEFM14A | $14.07 $13.13 | ▼ −6.68% | ▼ −6.26% | $9.34 (−33.62%) |
Sep 25, 2026 4w ago | PREM14A | $18.18 $16.37 | ▼ −9.96% | ▼ −9.77% | $9.34 (−48.62%) |
Sep 23, 2026 4w ago | Press Release | $21.97 $20.73 | ▼ −5.64% | ▼ −6.19% | $9.34 (−57.49%) |
Sep 23, 2026 4w ago | Insider Cluster | $21.97 $20.73 | ▲ +5.64% | ▲ +6.19% | $9.34 (+57.49%) |
Sep 21, 2026 5w ago | EFFECT | $23.45 $22.65 | ▲ +3.41% | ▲ +3.40% | $9.34 (+60.17%) |
Sep 17, 2026 5w ago | SC 13D/A | $23.98 $23.45 | ▼ −2.21% | ▼ −3.76% | $9.34 (−61.05%) |
Sep 16, 2026 5w ago | 144 | $24.03 $23.98 | ▼ −0.21% | ▼ −0.34% | $9.34 (−61.13%) |
Sep 10, 2026 6w ago | 8-K | $35.99 $39.59 | ▲ +10.00% | ▲ +9.15% | $9.34 (−74.05%) |
Sep 10, 2026 6w ago | Press Release | $35.99 $39.59 | ▲ +10.00% | ▲ +9.15% | $9.34 (−74.05%) |
Aug 21, 2026 9w ago | Press Release | $42.49 $39.78 | ▼ −6.38% | ▼ −6.08% | $9.34 (−78.02%) |
US Market Status
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