Palladyne AI Q2 revenue up 112% YoY, net loss down 81%, cash $25.8M, Palladyne IQ MVP released

Palladyne AI Corp.

2024-Q2 EPS reported -$0.48 revenue$6,154,000

Revenue increased 112% in Q2 2024 vs Q2 2023; net loss decreased 81% in Q2 YoY.
Operating expenses (incl. restructuring) fell 73% in Q2 and 66% in H1 2024 vs prior year.
Cash, cash equivalents and marketable securities totaled $25.8M at June 30, 2024.
Minimal viable product (MVP) of Palladyne IQ released for customer trials; first on-site trial completed.
Commercial launch of Palladyne IQ expected H2 2024; initial product revenue targeted for H1 2025.

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