SWMR reports first-quarter revenue of $20,325, down 82% year-over-year, as it shifts focus to higher-volume license activations.
Swarmer Inc. (SWMR) reported first-quarter revenue of $20,325, an 81.6% decline from $110,704 a year earlier, as deferred service revenue from its largest Ukraine customer wound down. Gross profit swung to a $(19,599) loss from $65,162, while net loss widened to $(4.5) million from $(0.7) million.
The company attributed the revenue drop to the transition away from legacy service contracts, positioning the quarter as a baseline for sequential growth. SWMR secured a $2.86 million award from Meta Bureau for 16,000+ licenses, with $10.4 million in upgrade options, alongside expanding partnerships in Japan and counter-UAS applications.
Cash rose to $23.5 million post-IPO and Series A-1, supporting product development and integration capacity as SWMR targets higher-volume opportunities in Ukraine and international markets.