Swarmer Aims for $200 Million in Pro Forma Revenue by 2027 Following Ratel Acquisition
Swarmer, Inc. (Nasdaq: SWMR) is projected to reach $200 million in pro forma revenue and $20 million in adjusted EBITDA by 2027 following its pending acquisition of Ukrainian unmanned ground vehicle manufacturer Ratel Robotics for up to $224 million. According to a Lucid Capital Markets research note, the deal positions Swarmer as a consolidator within Ukraine's fragmented drone industry, which is home to over 500 credible companies and advanced battlefield technology. The acquisition includes an initial payment of around $7.2 million in cash and 1.1 million shares at closing, with additional payments contingent on Ratel meeting earnout targets. Swarmer currently holds approximately $43 million in pro forma cash after raising funds through its equity line. Analysts have set a price target of $60 for the stock based on projected revenue growth. The company aims to build an integrated unmanned defense platform combining drones, autonomy software, and ground vehicles using its existing U.S. listing, balance sheet strength, and combat-tested technology.
Tickers: $SWMR