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Swarmer, Inc.
(NASDAQ:SWMR)
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Rating:45Neutral
Price Target:
$12.00
▼(-63.65% Downside)
Action:Reiterated
Date:10/01/26
SWMR scores low primarily due to very weak financial performance (tiny revenue base, sharply widening losses, and accelerating cash burn). Technicals also detract, with the stock in a pronounced downtrend and negative momentum despite oversold readings. The earnings call adds some support via improved liquidity and commercial validation, but elevated spending, lack of formal guidance, and small reported revenue keep the overall score constrained.
Positive Factors
Low Balance-Sheet Leverage
Very low debt relative to equity limits balance-sheet leverage and interest burden, giving Swarmer more flexibility to fund product development and commercial expansion. This financial structure is a durable support even though current operations do not yet demonstrate earnings power.
Negative Factors
Very Small and Declining Revenue Base
Swarmer remains a very small-revenue business, and the annual decline shows that commercial traction has not yet translated into sustained reported growth. This limits operating scale, leaves fixed costs poorly absorbed, and increases dependence on future contract conversion.
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Positive Factors
Negative Factors
Low Balance-Sheet Leverage
Very low debt relative to equity limits balance-sheet leverage and interest burden, giving Swarmer more flexibility to fund product development and commercial expansion. This financial structure is a durable support even though current operations do not yet demonstrate earnings power.
Read all positive factors
Swarmer, Inc. (SWMR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$201.48M
Dividend YieldN/A
Average Volume (3M)931.18K
Price to Earnings (P/E)―
Beta (1Y)0.99
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees49
SectorGeneral
Sector StrengthN/A
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)-0.73
Shares Outstanding16,610,264
10 Day Avg. Volume997,717
30 Day Avg. Volume931,177
Financial Highlights & Ratios
PEG Ratio0.99
Price to Book (P/B)42.19
Price to Sales (P/S)1235.18
P/FCF Ratio-78.62
Enterprise Value/Market Cap2.36
Enterprise Value/Revenue2.01K
Enterprise Value/Gross Profit2.90K
Enterprise Value/Ebitda-40.74
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.43
Revenue Forecast (FY)$9.02M
Swarmer, Inc. Business Overview & Revenue Model
Company Description
Swarmer, Inc. is dedicated to developing cutting-edge autonomous drone technology and comprehensive solutions. The company's primary focus areas encompass artificial intelligence, hardware simulation, and live video streaming, all specifically des...
Swarmer, Inc. Earnings Call Summary
Earnings Call Date:Aug 13, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:May 19, 2027
Earnings Call Sentiment Neutral
The call presented a mix of encouraging commercial progress and validation (notably the SkyKnight expansion, large real-world mission footprint, multiple strategic partnerships, and a strengthened liquidity position with >$26M raised) alongside significant near-term financial pressures (a large ramp in operating expenses, a substantially larger net loss, modest reported revenue due to accounting timing, and one-time cash outlays). Management framed the spending as investments to scale product, partnerships and go-to-market capability, while acknowledging revenue timing lags inherent to defense procurement.Positive Updates
Revenue Growth Year-over-Year
Q2 2026 revenue of $216,000 versus $138,000 in Q2 2025, an increase of approximately 56.5% year-over-year, driven in part by delivered licenses under the SkyKnight program (accounting treatment limited recognized revenue).
Negative Updates
Steep Increase in Operating Expenses
Operating expenses rose to approximately $7.5M in Q2 2026 from ~$855,000 in Q2 2025, an increase of roughly 777% driven by hiring, engineering/product investment, consulting, legal and public-company costs and one-time equipment purchases (includes ~$1.2M noncash stock compensation).
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Q2-2026 Updates
Positive
Negative
Revenue Growth Year-over-Year
Q2 2026 revenue of $216,000 versus $138,000 in Q2 2025, an increase of approximately 56.5% year-over-year, driven in part by delivered licenses under the SkyKnight program (accounting treatment limited recognized revenue).
Read all positive updates
Company Guidance
Management offered no formal forward-looking revenue guidance but laid out directional expectations and priorities — targeting an eventual gross margin around ~80% as volumes scale, and focusing on expanding adoption, deeper manufacturer integrations, scaling deployments, strategic investments/acquisitions and monetizing partnerships and MoUs. For context, Q2 FY2026 results included revenue of ~$216k (vs. $138k in Q2 2025), gross profit of ~$184k (vs. $82k), operating expenses of ~$7.5M (vs. $855k) including ~$1.2M of non‑cash stock compensation, a net loss of ~ $7.2M (vs. $1.6M), cash and cash equivalents of ~$25.3M (vs. $9.3M at 12/31/25), ~$8.8M raised via the equity line during the quarter and an additional ~$17.9M collected post‑period (total >$26M raised), receipt of $1.4M under the SkyKnight program (only ~$200k recognized as revenue, ~$100k deferred, remainder recorded as an advance), SkyKnight contractual license value of ~ $3.9M expandable to ~ $14.2M if options exercised (with an incremental ~$1M added in the expansion) and a one‑time prepayment of ~$2.2M; operationally they noted supporting >100,000 combat missions since April 2024 and integration timelines of roughly 2–4 weeks for familiar platforms or several months for novel ones.Swarmer, Inc. Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
58
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 |
|---|---|---|---|
Income Statement | |||
| Total Revenue | 236.74K | 309.92K | 329.41K |
| Gross Profit | 164.00K | 127.76K | 141.56K |
| EBITDA | -11.66M | -8.49M | -2.06M |
| Net Income | -11.78M | -8.53M | -2.07M |
Balance Sheet | |||
| Total Assets | 33.94M | 10.34M | 2.15M |
| Cash, Cash Equivalents and Short-Term Investments | 25.29M | 9.28M | 2.08M |
| Total Debt | 112.21K | 146.98K | 0.00 |
| Total Liabilities | 2.73M | 1.26M | 4.22M |
| Stockholders Equity | 31.21M | 9.07M | -2.07M |
Cash Flow | |||
| Free Cash Flow | -11.49M | -4.87M | -1.06M |
| Operating Cash Flow | -11.14M | -4.62M | -1.05M |
| Investing Cash Flow | -445.67K | -246.99K | -8.96K |
| Financing Cash Flow | 27.39M | 12.08M | 3.01M |
Swarmer, Inc. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $669.68M | -22.09 | -14.05% | ― | 11.85% | 47.54% | |
64 Neutral | $1.28B | 57.78 | 4.29% | ― | 6.35% | -79.74% | |
62 Neutral | $294.65M | 61.82 | 3.34% | ― | 3.66% | ― | |
61 Neutral | $593.72M | -29.12 | -24.96% | ― | 16.73% | 35.67% | |
58 Neutral | $685.92M | 29.56 | 27.89% | ― | -1.48% | 257.78% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
45 Neutral | $201.48M | -16.62 | -43.06% | ― | ― | ― |
* General Sector Average
SWMR
Swarmer, Inc.
12.13
-18.87
-60.87%
EGHT
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2.04
0.20
10.87%
YEXT
Yext
6.93
-1.44
-17.20%
SPT
Sprout Social
11.05
0.08
0.78%
CXM
Sprinklr
5.53
-1.99
-26.46%
WEAV
Weave Communications
7.38
0.68
10.15%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.