Swarmer Shares Gain After Increasing Revenue Forecast from Existing Contract

Dow Jones06-29 21:29

Shares of Swarmer rose after the company said it expects to recognize an additional $1.02 million in revenue from an existing contract.

The stock climbed 7.2%, to $43.95, in premarket trading Monday. Shares made their public-market debut in March, priced at $5 apiece.

The drone-autonomy software company said before the bell that Meta Bureau updated its contract with one of its subsidiaries, Swarmer Estonia. The new contract stipulates that $1.41 million in SkyKnight software licenses will instead be purchased by Czech-based Progress TRW.

It also increased Meta Bureau's original autonomy license purchase from $1.38 million to $2.40 million.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

June 29, 2026 09:29 ET (13:29 GMT)

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