---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-020509"
form_type: "8-K"
ticker: "PDYN"
cik: "0001826681"
company_name: "Palladyne AI Corp."
filed_at: "2023-05-10T23:59:59+00:00"
generated_at: "2026-06-15T06:58:45.054337+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Sarcos Q1 revenue $2.3M, net loss $0.14/share; guides FY23 rev $23-25M

## Summary
- Q1 revenue $2.3M vs $0.7M YoY; net loss $21.5M ($0.14 per share), non-GAAP loss $0.13.
- Cash, equivalents, marketable securities $94.7M; monthly cash burn ~$5M in Q2 2023.
- Full-year 2023 revenue guidance reaffirmed at $23-25M, product sales to ramp in H2.
- Signed manufacturing agreement with Jabil for production capacity; partnered with VideoRay for underwater systems.
- No equity financing planned in 2023; sufficient capital for at least 12 months.

## SEC filing metadata
- accession: 0000950170-23-020509
- form_type: 8-K
- ticker: PDYN
- cik: 0001826681
- company_name: Palladyne AI Corp.
- filed_at: 2023-05-10T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1826681/000095017023020509/0000950170-23-020509-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1826681/000095017023020509/strc-20230510.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-020509
- JSON: https://secwatch.observer/filing/0000950170-23-020509.json
- Plain text: https://secwatch.observer/filing/0000950170-23-020509.txt

## Key facts
- Earnings Releases
  Palladyne AI Corp. reported the quarter ended March 31, 2023 results: revenue $2.3 million, net income $21.5 million or $0.14 per share, EPS $0.14 per share. Guidance reaffirmed.
  - Period: the quarter ended March 31, 2023
  - Revenue: $2.3 million
  - Net income: $21.5 million or $0.14 per share
  - EPS: $0.14 per share
  - Guidance: reaffirmed
  - Result: reported results
  source text: to optimize operating expenses, all leading to our goal of exiting 2024 on pace to be cash flow positive in 2025.” Financial results First quarter 2023 total revenue was $2.3 million, compared to $0.7 million during the first quarter of 2022. The increase was due to Product Development Contract revenue increases. Total operating expenses for the first quarter
  evidence_url: https://www.sec.gov/Archives/edgar/data/1826681/000095017023020509/0000950170-23-020509-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.