Swarmer releases first financial results following Nasdaq listing

Ukrainian-American defence tech company Swarmer has released its financial results for the first quarter of 2026, while also summarising contracts and partnerships related to autonomous unmanned systems during the period.

The company’s revenue fell significantly year-on-year, reaching $20.3 thousand, down from $110.7 thousand in the first quarter of 2025. Swarmer attributed the decline to the end of cooperation with its largest Ukrainian client, for whom the company had been providing service-related support.

Operating expenses increased to $4.5 million, up from $0.8 million in the same period last year. According to Swarmer, the rise was driven by post-IPO expenses and increased investment in software development and platform integration.

The company’s net loss for the quarter totalled $4.5 million.

Swarmer also reminded investors that during the first quarter, it completed its IPO on the Nasdaq stock exchange under the ticker SWMR, raising $17.3 million. Just ahead of the quarterly results announcement, the company also revealed a $2.8 million contract to supply more than 16,000 software licences for SkyKnight bomber quadcopters and other unmanned systems.

Earlier, Defender Media reported on Swarmer’s expansion into the Japanese market with support from Rakuten Group and its partnership with three Ukrainian manufacturers.