Quarterly ResultMay 5, 2026, 07:28 AM
Palladyne AI Q1 Net Loss $12.6M; Revenue Jumps to $3.5M
AI Summary
Palladyne AI Corp. reported a net loss of $12.6 million for Q1 2026, a significant decline from a net income of $22.8 million in Q1 2025, primarily due to a loss on warrant liabilities. Despite this, total revenue more than doubled to $3.5 million, driven by new product and engineering services revenue streams. The company continues to incur operating losses and negative cash flows, with cash and marketable securities totaling $43.7 million as of March 31, 2026.
Key Highlights
- Net loss was $12.6 million in Q1 2026, a swing from $22.8 million net income in Q1 2025.
- Revenue more than doubled to $3.5 million in Q1 2026 from $1.7 million in Q1 2025.
- Basic net loss per share was $0.28 in Q1 2026, compared to $0.64 net income per share in Q1 2025.
- Operating expenses increased to $15.5 million in Q1 2026 from $8.6 million in Q1 2025.
- Cash and cash equivalents totaled $17.9 million as of March 31, 2026.
- Total cash, cash equivalents, and marketable securities were $43.7 million.
- Net cash used in operating activities rose to $10.2 million in Q1 2026.
- Accumulated deficit reached $493.4 million as of March 31, 2026.
Price Impact
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