New York, June 2, 2026, 16:05 EDT
- Swarmer finished the day at $78.52, rising 37.7%. Shares hit a new intraday high earlier at $83.30.
- Military drone stocks saw new interest after Jim Cramer called Swarmer “a natural.”
- The company’s revenue base is still small. Losses are widening and there’s execution risk with its defense contracts.
Swarmer Inc jumped 37.7% to $78.52 on Tuesday. The defense-tech company got new buying from retail traders and investors in drones. Shares opened at $56.38, touched $83.30 and saw volume more than double the normal pace—about 2.6 times average, according to Google Finance data.
Swarmer jumped out during a volatile day for Wall Street, with the main indexes flat as AI optimism ran into worries about geopolitics. Traders now see Swarmer as a high-risk play tied to two stories—battlefield drones and autonomy software, which is software that cuts how much humans have to control the machines.
Shares moved after Jim Cramer talked up Swarmer on “Mad Money,” putting it alongside Red Cat Holdings and AEVEX Aerospace as drone plays. “Swarmer is a natural,” Cramer said. He called it the first Ukrainian defense tech startup and tied the group to federal money for low-cost drones. Insider Monkey
Swarmer develops software to run drone swarms, groups of unmanned aircraft that work together instead of being flown individually. The company says it does not make drones. It sells the “intelligence layer” that controls unmanned systems, and says its product works on different hardware platforms.
That difference is important. Investors have pushed up drone and defense software stocks as governments hunt for cheaper options, but Swarmer is still in its early stages. Revenue dropped to $20,325 in the first quarter from $110,704 a year ago. Net loss grew to $4.46 million from $693,977, according to the company’s May report.
Swarmer is looking to new contracts to move from battlefield use to commercial sales. The company said on May 13 that Meta Bureau LLC gave Swarmer Estonia OÜ a $2.86 million contract to supply more than 16,000 software licenses for SkyKnight quadcopter bombers and other UAVs. There are options that could boost the deal by another $10.4 million. Global CEO Serhii Kupriienko said, “integrating our software with SkyKnight and other UAVs.” Swarmer
Swarmer is pitching its software as a fix for the growing use of drones and a lack of operators, President and U.S. CEO Alex Fink said. “Swarmer’s software is purpose-built for this environment,” Fink told investors on first-quarter results.
Swarmer said in May it is working with X-Drone, Norda Dynamics and Kara Dag Technologies to build a drone-interceptor system that can be deployed quickly. Non-executive Chairman Erik Prince said the group wants a site-defense kit that fits in a container and can be moved and put in place in under a day.
Competitive pressures remain tight and lopsided. Red Cat, one of the public drone firms Cramer mentioned, is heavier on hardware. Private maker AEVEX is another player. Swarmer is pitching something else—it’s aiming to plug into several drone platforms instead of making or owning a single airframe.
Swarmer’s rally faces some tests. Contract options might go unused, and procurement can take time. The company’s filings flag risk, saying future results depend on building up new customer deals as revenue from its top Ukrainian client drops off. As of March 31, Swarmer had $23.5 million in cash and an accumulated deficit of $15.1 million, according to a filing.
Swarmer started trading on Nasdaq in March, pricing its IPO at $5 a share. On Tuesday, the stock closed above 15 times that level. The move has turned the young, unprofitable defense software company into a momentum name in the market.
