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Swarmer (SWMR) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 14, 2026 · Swarmer (SWMR) Q2 2026 earnings results →
Q2 2026 Revenue up 57% year over year to $216K
Swarmer made $216K in Q2 2026 (+57% Y/Y). Operating margin n/m, net loss $7.3M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 14, 2026.
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What changed this quarter
Revenue was $216K in Q2 2026, up 57% year over year and up 965% from the previous quarter.
Gross margin was 84.8%, up 25.5 points from a year earlier. Operating costs exceeded revenue by $7.3M, an operating margin of -3363.7%. Operating expenses grew 773% against revenue growth of 57%. The fastest-growing cost line was SG&A (+1938%). The quarter ended with a net loss of $7.3M, wider than the previous quarter's $4.5M loss.
Operating cash flow was −$6.9M. Non-cash charges added back $58K of depreciation and $1.2M of share-based compensation. Working capital and other items used $772K. Capital expenditures of $224K exceeded it, leaving free cash flow of −$7.1M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 14, 2026 | $216K | +57% | n/m | −$7.3M | −$6.9M |
| Q1 2026 | 10-Q | May 14, 2026 | $20K | -82% | n/m | −$4.5M | −$4.3M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Swarmer
Swarmer™ is a defense technology company that specializes in vendor-agnostic software which allows one operator to intuitively control hundreds of autonomous platforms in real time. Swarmer’s primary mission areas include autonomous swarm coordination, integration of multi-domain unmanned systems and AI-powered autonomy software for distributed operations. Swarmer is not a drone manufacturer and does not depend on any single platform, supplier or hardware lifecycle. Instead, Swarmer operates at the intelligence layer, developing autonomy, coordination and decision-making software that enables large numbers of low-cost unmanned systems to operate collectively as one coherent, resilient force. Swarmer’s technology has been rigorously validated in real-world kinetic environments and was first deployed in combat operations in Ukraine in April 2024.
In its own words, from its 8-K, filed Aug 13, 2026.
Swarmer against its Services-Prepackaged Software peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +57% against the peers' median +19%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| SWMR Swarmer | Q2 2026 | $216K | +57% | n/m |
| MSFT Microsoft | Q1 FY27 | $92.3B | +19% | 49.8% |
| ORCL Oracle | Q1 FY27 | $19.3B | +30% | 34.8% |
| CRM Salesforce | Q2 FY27 | $11.3B | +11% | 20.5% |
| ADBE Adobe | Q3 FY26 | $6.8B | +13% | 34.8% |
| XYZ Block | Q3 2026 | $6.7B | +10% | 6.4% |
| INTU Intuit | Q4 FY26 | $4.4B | +14% | 10.9% |
| NOW ServiceNow | Q3 2026 | $4.1B | +20% | 9.4% |
| SHOP Shopify | Q3 2026 | $3.7B | +32% | 15.2% |
Source: Swarmer 10-Q on SEC EDGAR · CIK 2092574 · Services-Prepackaged Software
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History
Every quarter: Q2 2026 results · Q1 2026 results