Is SWMR halal?
Swarmer, Inc
Not halal
Swarmer, Inc did not pass AAOIFI screening. The failed check is shown below.
Checked: 14 October 2026
Exchange
NASDAQ
Price
9
Day
-10.63%
Market cap
$148.7M
Industry
Software - Infrastructure
Sector
Technology
Manually identified reason
Automatic screening reads the industry label, not what's inside. This company's filings were checked by hand and a hidden prohibited activity was found:
Weapons systems (Swarmer — military drone-swarm control software)
What the company does
Swarmer (IPO 2026) makes software for coordinating military drone swarms (Trident OS — one operator controls hundreds of drones), used in 100,000+ combat missions in Ukraine. Its money comes from military licenses/contracts (the defense segment is checked by the screener).
What was checked
The AAOIFI standard has four steps: business activity first, then three financial ratios. Fail one and the stock is not halal.
Business activity
Weapons systems (Swarmer — military drone-swarm control software)
Interest-bearing debt / market cap
limit 30%
0.0%
Pass
Cash & investments / market cap
limit 30%
17.0%
Pass
Non-compliant income / total revenue
limit 5%
—
No data
In the lists
- In the S&P 500
- Not in the S&P 500
- Held by funds
- Not held by any tracked fund
Halal stocks in the same industry
The largest halal stocks in Software - Infrastructure — for comparison.
Related articles
- Halal investingBlogHaram revenue you can't see from the industry label: pork, weapons, casinosPork hides under "Packaged Foods", weapons under "Aerospace & Defense". What automated screening misses and how we catch it by hand.
- Halal investingBlogWhy a company's cash affects whether its stock is halalLots of cash sounds like a good sign — but halal screening checks it separately. What counts, what doesn't, and where we are stricter than AAOIFI.
- Halal investingBlogAAOIFI Shariah Standard No. 21 in plain languageThe most widely used standard for halal stock screening: the two-step test, the three ratios and how it differs from other methods.
Halal is the first question. The second: when to enter?
Our scanner watches 1454 halal stocks around the clock and fires a signal with entry, TP and SL when a technical setup completes. The full signal history — with outcomes — is public.
This is neither investment advice nor a fatwa. Screening is based on public financial statements and AAOIFI standard No. 21; data may lag. For a personal decision consult your own scholar.