Quarterly ResultAug 6, 2026, 06:52 AM
Palladyne AI Q2 Revenue +470% to $5.8M; Backlog $24.6M
AI Summary
Palladyne AI Corp. reported strong second-quarter 2026 financial results, with revenue surging 470% year-over-year to $5.8 million and sequentially by 63%. The company's backlog grew to $24.6 million, driven by $13.0 million in new contract awards during the quarter. Palladyne AI reiterated its full-year 2026 revenue guidance of $24.0 million to $27.0 million, expecting continued sequential growth. Strategic highlights include an exclusive partnership with IAI for loitering munitions and significant contract wins with the U.S. Army and Air Force, despite an increased operating loss due to strategic investments.
Key Highlights
- Q2 2026 Revenue increased 470% year-over-year to $5.8 million.
- Backlog reached $24.6 million as of June 30, 2026, including $13.0 million in new contract awards.
- Reiterated full-year 2026 revenue guidance of $24.0 million to $27.0 million.
- Signed exclusive partnership with Israel Aerospace Industries (IAI) for U.S. rights to HARPY, HAROP, and Mini HARPY loitering munitions.
- Secured $2.6 million in orders for BRAIN flight computers, including a $2.3 million contract.
- Commenced $4.2 million Air Force Research Laboratory HANGTIME contract.
- Received $2.9 million U.S. Air Force STRATFI option exercise, bringing total program value to over $10.6 million.
- Q2 2026 GAAP net loss was $12.3 million, or $0.27 per share.
Price Impact
More from PDYN