Drone software startup Swarmer goes public, shares soar 520%
Swarmer, a Austin, Texas-based startup building software for autonomous military drone swarms, just made a splashy entrance on the Nasdaq.
Its IPO raised $15 million by selling three million shares at $5 each, and the stock soared 520% on day one under the ticker SWMR.
One of the biggest 1st-day jumps in recent history
Swarmer's shares opened at $12.50 and closed at $31, boosting its market value to $380 million.
This is one of the biggest first-day jumps for any U.S.-listed company since Newsmax's record run in 2025.
Swarmer's tech has been used in over 100,000 combat missions
Swarmer, whose founding year is not stated, develops the Trident Embedded Drone Operating System (Trident OS), software that lets military teams control large groups of drones at once.
Its tech has been used in over 100,000 combat missions in Ukraine.
The company's chairman is Erik Prince
Despite all the buzz and cutting-edge tech, Swarmer made less than $310,000 in revenue last year and posted an $8.5 million loss.
The company's chairman is Erik Prince, best known as founder of Blackwater USA.