---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-125211"
form_type: "8-K"
ticker: "SWMR"
cik: "0002092574"
company_name: "Swarmer, Inc"
filed_at: "2026-11-10T21:22:02+00:00"
generated_at: "2026-11-10T21:23:08.547936+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Swarmer Q3 revenue falls to $25,554, net loss widens to $9.3M; Ratel UGV deal nears close

## Summary
- Revenue was $25,554 vs $35,771 a year earlier; gross loss was $47,093 vs a $9,670 gross loss in Q3 2025.
- Net loss ~$9.3M vs ~$3.4M prior year; operating expenses ~$9.4M vs $0.8M, including $1.7M noncash stock-based compensation.
- Cash and equivalents $37.3M at Sept. 30 vs $25.3M at June 30, increase driven primarily by equity line of credit proceeds.
- Ratel Robotics UGV deal signed Sept. 9, 2026; stockholders approved share issuance Nov. 2; closing expected November; Ratel 9M 2026 revenue $42.1M (unaudited).
- Ratel Q4 outlook $35M-$40M revenue at 13%-17% operating margin with $65.1M backlog; Vectus MOU targets 40 then 80 air defense systems at $5M-$6M MSRP each.

## SEC filing metadata
- accession: 0001104659-26-125211
- form_type: 8-K
- ticker: SWMR
- cik: 0002092574
- company_name: Swarmer, Inc
- filed_at: 2026-11-10T21:22:02+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2092574/000110465926125211/0001104659-26-125211-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2092574/000110465926125211/tm2629384d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-125211
- JSON: https://secwatch.observer/filing/0001104659-26-125211.json
- Plain text: https://secwatch.observer/filing/0001104659-26-125211.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.