Sarcos Q2 revenue $1.3M (-57% YoY); net loss $28.7M; workforce cut 25%

Palladyne AI Corp.

2023-Q2 EPS reported -$1.97 revenue$3,573,000

Net loss of $28.7M ($1.12 EPS); non-GAAP net loss $21.9M ($0.86 EPS).
Total revenue $1.3M vs $3.0M in Q2 2022; gross margin improved to 26% from -4%.
Restructuring charges of $5.1M in Q2; expects ~$6.0M additional in Q3, with $14.6M annual cash savings from 2024.
Cash and equivalents $75.1M; Q3 cash burn ~$5.5M/month, target ~$3.0M/month in 2024.
1-for-6 reverse stock split effective July 5, 2023; shares/amounts retroactively adjusted.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.