Swarmer grows revenue in Q2: company publishes financial report

The Ukrainian-American defence tech company Swarmer has published its financial report for the second quarter of 2026. The developer earned more revenue than in the first quarter, having begun generating income under its contract with drone manufacturer SkyKnight.

In Q2, Swarmer earned $216,000 in revenue, compared with $20,300 in the first quarter. The company adds that over the past three months it invoiced drone manufacturer SkyKnight for $1.5m. $0.2m was recorded as revenue, $0.1m – as deferred revenue, and the remainder – as an advance on the balance sheet.

In May, Swarmer signed a $2.86m contract with Meta Bureau, the manufacturer of SkyKnight drones. The developer is to supply more than 16,000 licences for its drone autonomy software. Swarmer now says the licensing programme has been expanded, increasing the total value of the deal to $3.9m.

Operating expenses for the second quarter of the year amounted to $7.5m, compared with $4.5m reported for the first quarter. The company attributes the increase in expenses to investments in personnel, product development, and legal and consulting services, among other things.

Net loss for the second quarter of the year was $7.3m. Previously it was $4.5m. As of 30 June 2026, the company had $25.3m in its accounts, compared with $9.3m at the end of 2025.