secwatch.observer — SEC 8-K summary
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Issuer:     Palladyne AI Corp. (PDYN)
CIK:        0001826681
Form:       8-K
Filed at:   2026-07-08T11:04:42+00:00
Accession:  0001193125-26-297985
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Palladyne AI prelim Q2 rev ~$5.8M (+480% YoY); backlog $24M; IAI partnership
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- Preliminary Q2 2026 revenue ~$5.8M, up ~480% YoY from $1.0M and ~66% sequentially from $3.5M.
- Backlog grew to ~$24.0M from $17.3M at Q1 end; ~$12.5M in new contracts added during Q2.
- Cash, cash equivalents and marketable securities ~$44.0M, roughly flat vs. Q1 2026.
- Announced exclusive U.S. rights to IAI's HARPY, HAROP, Mini HARPY loitering munitions family.
- Majority of backlog expected to be recognized as revenue within 12-18 months.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1826681/000119312526297985/0001193125-26-297985-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1826681/000119312526297985/pdyn-20260708.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-297985

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer