Swarmer reported third-quarter 2026 revenue of $25,554, down from $35,771 a year earlier, with a net loss of approximately $9.3 million compared to $3.4 million in the prior-year period. Operating expenses rose to roughly $9.4 million due to increased stock-based compensation and strategic investments. The company holds $37.3 million in cash and is nearing the closing of its acquisition of Ratel Robotics, which had preliminary Q3 revenue of $32.5 million. Swarmer also announced pending acquisitions involving Vataga Drone intellectual property and a manufacturing partnership with Vectus Air Defense. Swarmer operates as a defense technology company specializing in autonomy software for unmanned systems.
