Swarmer (SWMR) investor relations material

Company overview and business model

• Specializes in autonomous drone swarm software and AI solutions for military applications, focusing on vendor-agnostic integration and rapid, combat-validated development.

• Business model is primarily B2B2G, licensing software to drone manufacturers and system integrators, with additional revenue from white-label solutions and direct government sales.

• Competitive advantages include operational validation through over 100,000 combat missions, rapid iteration, vendor-agnostic architecture, and a proprietary operational dataset.

• Expansion roadmap includes multi-domain operations (air, ground, maritime) and compliance with Western defense procurement standards by 2026.

Financial performance and metrics

• Revenue was $309,920 in 2025, flat compared to $329,410 in 2024, with nearly all revenue from a single customer.

• Net losses were $8.5 million in 2025 and $2.1 million in 2024, with an accumulated deficit of $10.6 million as of December 31, 2025.

• Cash and cash equivalents were $9.3 million at year-end 2025, with $12.6 million in net proceeds expected from the IPO.

• Operating expenses increased significantly in 2025 due to ramp-up for public company operations and R&D expansion.

• Substantial doubt exists about the ability to continue as a going concern without additional funding.

Use of proceeds and capital allocation

• Net proceeds of approximately $12.6 million (or $14.7 million if the over-allotment is exercised) will fund ongoing operations, product expansion, hiring, hardware integration, and working capital.

• Proceeds may also be used for potential acquisitions or investments in products, technologies, or businesses.

• Management has broad discretion over use of funds, with flexibility to reallocate as needed.