Forensic Analysis · Software & SaaS · as of Nov 9, 2026

Swarmer, Inc (SWMR)

A forensic read on Swarmer, Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

F · Poor — capital at risk

Forensic grade

Distress

Financial health

-9.7

Distress distance

Forensic signals

-5.9%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Swarmer, Inc earns an F (Poor — capital at risk) forensic quality grade, and its balance-sheet distress test reads -9.7, placing it in the Distress zone. 2 forensic signals were flagged in its latest SEC filings, led by share-count dilution.

What the filings flag

+348.2%/yr

FY2024–FY2025

Share-count dilution. Diluted share count changed +348% over the last 1 year to FY2025 (+348.2%/yr). The count is growing — 0.8M shares in FY2024, 3.5M in FY2025: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~348.2% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2024 has been diluted ~78%.

63% of rev

FY2025

Stock-based comp load. Stock-based compensation ran 63% of revenue in FY2025 — about $0.06 per diluted share. No cash left the business to pay it, which is why operating cash flow adds it back. Net of repurchases the diluted count still rose about 348.2% a year across FY2024–FY2025, above the level at which the count is a material claim on a stake, and only one year's change is on file — enough to state what a holder gave up, not enough to say whether the rate is climbing or coming down. Stock compensation is one source of that issuance; acquisition consideration, equity raises, convertibles and other employee plans also net into the count, and these figures do not separate them.

Key fundamentals

Latest Revenue$309,920

Revenue Growth YoY-5.9%

Net Margin-2752.1%

Free Cash Flow-$4.9M

The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Swarmer, Inc's actual 10-K/10-Q/8-K filings?

Generate the AI investment read →

No credit card · informational only, not investment advice · see the track record

← Browse all forensic stock analyses

Data from SEC EDGAR public filings · metrics as of Nov 9, 2026. Forensic signals flag probability, not certainty.

See a wrong number? Report an error with the filing it should match.