---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-040567"
form_type: "8-K"
ticker: "PDYN"
cik: "0001826681"
company_name: "Palladyne AI Corp."
filed_at: "2023-08-09T23:59:59+00:00"
generated_at: "2026-06-11T23:14:16.028114+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-23-040567
- form_type: 8-K
- ticker: PDYN
- cik: 0001826681
- company_name: Palladyne AI Corp.
- filed_at: 2023-08-09T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1826681/000095017023040567/0000950170-23-040567-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1826681/000095017023040567/strc-20230809.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-040567
- JSON: https://secwatch.observer/filing/0000950170-23-040567.json
- Plain text: https://secwatch.observer/filing/0000950170-23-040567.txt

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