Palladyne AI Q1 rev up 107% to $3.5M; net loss $12.6M; reaffirms FY rev guidance $24-27M

Palladyne AI Corp.

2026-Q1 EPS reported -$0.28 revenue$3,538,000

Revenue $3.5M (+107% YoY); GAAP net loss $12.6M ($0.28 loss per share) vs prior year net income $22.8M.
Non-GAAP net loss $10.2M ($0.23 EPS) vs $5.3M loss in prior year; operating loss $11.9M.
Backlog $17M at March 31, with $7M in new awards in Q1; cash & equivalents $43.7M.
FY 2026 revenue guidance reiterated $24-27M (357-415% growth); expects sequential growth each quarter.
Operating cash usage guided at $8-9M/quarter; Q1 slightly above due to shutdown and working capital.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Palladyne AI Corp. reported the first quarter ended March 31, 2026 results: revenue $3.5 million, net income ($12.6) million, EPS ($0.28). Guidance reaffirmed.

Period: the first quarter ended March 31, 2026
Revenue: $3.5 million
Net income: ($12.6) million
EPS: ($0.28)
Guidance: reaffirmed
Result: reported results

Exact text from the filing

99.1 Palladyne AI Reports First Quarter 2026 Results First full quarter as a vertically integrated defense and industrial AI company; revenue increased 107% year-over-year to $3.5 million Backlog of approximately $17 million as of March 31, 2026, net of revenue recognized, reflects approximately $7 million in new contract awards during the quarter Reiterates

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Source: SEC EDGAR

accession 0001193125-26-205033

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