Palladyne AI Q2 revenue $5.8M (+470% YoY); reiterates FY2026 guidance $24M-$27M

Palladyne AI Corp.

Revenue $5.8M (+470% YoY, +63% QoQ); GAAP net loss ($12.3M) vs ($7.5M) prior year.
Backlog $24.6M (+43% QoQ) with $13M in new contract awards during Q2.
Reiterated FY2026 revenue guidance $24M-$27M (357%-415% growth) and cash burn ($32M)-($36M).
Cash & equivalents $43.7M, roughly flat to Q1; operating cash burn increased due to strategic hiring and capex.
Signed exclusive U.S. rights partnership with IAI for HARPY/HAROP loitering munitions; selected for multiple DoD contracts.

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