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PDYN

Palladyne AI Corp.

PDYN

Palladyne AI Corp. • NASDAQ
$5.70 ▲ 3.64% (+0.20)
Market Cap $239.61 M
52w High $14.95
52w Low $3.02
Dividend Yield 0%
P/E -3.43
Volume 597.59K
Outstanding Shares 42.04M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $860K ▼ $8.464M ▼ $-3.74M ▲ -434.884% ▲ $-0.09 ▲ $-3.519M ▲
Q2-2025 $1.015M ▼ $8.635M ▲ $-7.487M ▼ -737.635% ▼ $-0.2 ▼ $-7.88M ▼
Q1-2025 $1.71M ▲ $8.288M ▲ $22.759M ▲ 1.331K% ▲ $0.64 ▲ $-6.708M ▼
Q4-2024 $761K ▼ $6.691M ▼ $-52.969M ▼ -6.96K% ▼ $-2.02 ▼ $-6.271M ▲
Q3-2024 $871K $7.691M $-7.096M -814.696% $-0.27 $-7.278M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $57.146M ▼ $72.929M ▼ $21.083M ▼ $51.846M ▼
Q2-2025 $62.702M ▲ $78.309M ▲ $24.477M ▼ $53.832M ▲
Q1-2025 $46.642M ▲ $63.301M ▲ $35.002M ▼ $28.299M ▲
Q4-2024 $40.071M ▲ $56.253M ▲ $65.786M ▲ $-9.533M ▼
Q3-2024 $21.328M $38.738M $15.317M $23.421M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-3.74M ▲ $-6.29M ▼ $12.824M ▲ $679K ▼ $7.213M ▼ $-6.674M ▼
Q2-2025 $-7.487M ▼ $-5.326M ▲ $-5.584M ▲ $20.998M ▲ $10.088M ▲ $-5.326M ▲
Q1-2025 $22.759M ▲ $-7.516M ▼ $-27.545M ▼ $13.933M ▼ $-21.128M ▼ $-7.609M ▼
Q4-2024 $-52.969M ▼ $-5.096M ▼ $-8.907M ▼ $23.863M ▲ $9.86M ▲ $-5.144M ▼
Q3-2024 $-7.096M $-4.498M $-12K $7K $-4.503M $-4.51M

Five-Year Company Overview

Income Statement

Income Statement Palladyne AI is still at a very early commercial stage. Revenue has been essentially flat and extremely small for several years, so the business is not yet generating meaningful sales from its software. Operating losses have been steady to somewhat elevated over time, and net losses have been persistent, with per‑share losses fairly large relative to the tiny revenue base. In simple terms: this is still a pre‑scale story, where costs to build the platform and company materially outweigh current income.

Balance Sheet

Balance Sheet The balance sheet is light and lean, reflecting a small, early‑stage technology company. Total assets are modest and have actually come down from earlier years as the company has shrunk its footprint. Cash is limited and has moved down from prior peaks, suggesting less of a cushion than before. There is a bit of debt on the balance sheet and, most notably, shareholders’ equity has turned negative in the most recent year, which means accumulated losses now exceed the company’s recorded net assets. Financially, this signals a thin margin for error and a reliance on future capital raises or improved performance.

Cash Flow

Cash Flow Cash flow from operations has been consistently negative, showing that the core business is still consuming cash rather than generating it. The outflows are not enormous in absolute terms, but they are steady year after year. With essentially no capital spending, free cash flow closely tracks operating cash flow and is also negative. This reinforces the picture of an asset‑light software pivot that still depends on external funding to support development and commercialization efforts.

Competitive Edge

Competitive Edge Strategically, Palladyne is trying to carve out a niche in “embodied AI” for robotics—software that lets physical robots learn, adapt, and coordinate in real time. The move away from hardware into pure software could offer better scalability and potentially stronger margins if adoption takes off. The company has deep robotics heritage, a sizable patent portfolio from its Sarcos days, and a newly highlighted patent around robotic swarming, all of which provide some technological moat. Its focus on edge computing, hardware‑agnostic design, and low‑/no‑code training differentiates it from more generic AI players. However, it is competing in a crowded and fast‑moving field, and its current commercial traction appears limited, so its competitive position is more about promise than proven market share at this stage.

Innovation and R&D

Innovation and R&D Innovation is clearly the core of the story. Palladyne has invested heavily over time in AI for robotics, robotic swarming, defense‑oriented autonomy, and platforms that can run on many types of robots and drones. The pivot to software, development of the Palladyne IQ and Palladyne Pilot platforms, and work toward a swarming operating layer all show a strong R&D focus. The legacy of DARPA‑funded robotics work and the large patent base give it technical credibility. The main question is execution: turning these innovations into repeatable contracts, especially in defense and industrial automation, and doing so fast enough given its financial constraints.

Summary

Palladyne AI is a small, early‑stage software company in AI‑driven robotics that has meaningfully more technology and intellectual property than it has revenue today. The financials show a business still in build‑out mode: tiny sales, persistent losses, a thin balance sheet, and ongoing cash burn. Strategically, the firm has repositioned itself as an asset‑light, software‑only platform targeting defense and industrial customers with embodied AI, swarming, and edge‑based autonomy. Its long robotics history and patents are real strengths, but commercial proof is still limited, and the negative equity and modest cash position highlight execution and funding risk. The story is therefore high‑innovation and high‑uncertainty, hinging on whether the company can convert its technology and government relationships into durable, growing revenue over the next several years.

NEWS

November 26, 2025 · 4:01 PM UTC

Palladyne AI Announces Employee Equity Awards

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November 17, 2025 · 7:00 AM UTC

Palladyne AI Establishes Vertically Integrated U.S. Defense Technology Pioneer Through Transformative Acquisitions Delivering Advanced Avionics, Precision Component Manufacturing and Embodied AI

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November 12, 2025 · 7:00 AM UTC

Palladyne AI Reports Third Quarter Fiscal 2025 Results and Provides Update on Recent Developments

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November 3, 2025 · 9:00 AM UTC

Palladyne AI Secures U.S. Patent for Advanced Swarming and Autonomy Technology

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October 21, 2025 · 9:00 AM UTC

Palladyne AI and Draganfly Inc. to Collaborate to Enable Advanced Autonomous Operations and Swarming Capabilities on Draganfly UAV Platforms

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