Swarmer

Q2 FY2026 EarningsQ2 FY26 results missed consensus significantly on both top and bottom lines, with revenue of $0.22M falling well short of the $1.0M expected. The GAAP net loss of $7.33M was nearly four times the projected $1.88M deficit, driven by a surge in share-based compensation and SG&A expenses following the IPO. While gross margins surpassed expectations, the massive miss in EPS ($ -0.45 vs. $ -0.12 expected) and substantial cash burn highlight significant execution risks and internal control material weaknesses.