| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 3.54 | 107.0% |
| Total Income | 3.54 | 107.0% |
| Expenditure | 15.46 | 78.9% |
| PBT | -12.61 | 155.4% |
| Net Profit | -12.61 | 155.4% |
| OPM | — | |
| NPM | — | |
| EPS | -0.28 | 143.8% |
Palladyne AI Reports Q1 2026 Revenue Up 107% Y-o-Y to $3.5 Million
05 May 2026 · 5 May, 4:52 pm
Summary
Palladyne AI Corp. reported a 107% increase in revenue to $3.5 million for the first quarter of 2026 compared to $1.7 million in the same period last year. The company's backlog reached approximately $17 million as of March 31, 2026. Palladyne AI reiterates its full-year 2026 revenue guidance of $24 million to $27 million, representing a substantial year-over-year growth. The company anticipates revenue to be back-end weighted, with growth accelerating through the second half of the year.
Key Highlights
- 1
Palladyne AI's revenue increased by 107% year-over-year to $3.5 million for the first quarter of 2026.
- 2
The company's backlog grew to approximately $17 million as of March 31, 2026, reflecting about $7 million in new contract awards during the quarter.
- 3
Palladyne AI reiterates its full-year 2026 revenue guidance of $24 million to $27 million, representing a growth of 357% to 415%.
- 4
The company expects sequential revenue growth each quarter, with the ramp accelerating in the second half of the year.
- 5
First quarter 2026 GAAP net loss was ($12.6) million, or ($0.28) per share, compared to GAAP net income of $22.8 million, or $0.64 per share, in the prior year period.
Management Comments
Ben Wolff
“Q1 was our first full quarter as a vertically integrated defense and industrial AI company. Revenue increased 107% year-over-year to $3.5 million, and the quarter saw broad-based activity across defense programs, commercial deployment and intellectual property development. That activity is reflected in our backlog, which grew to approximately $17 million as of March 31, and we remain on track to achieve our 2026 revenue guidance of $24 million to $27 million. “The Department of War is committing historic resources to autonomous systems, collaborative swarming, counter-UAS, long-range precision fires and missile defense, and Palladyne AI is actively pursuing opportunities across those programs. We are executing on multiple fronts simultaneously with contracted backlog, deployed product and published intellectual property that together reflect the progress we are making and the category we are defining.”
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