PDYN

MKT CAP:$246M

Palladyne AI Corp.

Market Cap

$246M

Technology·Software - Infrastructure·🇺🇸 United States·NASDAQ

Technology·Software Infra·🇺🇸·NASDAQ

Stock Price

$6.45+$1.73 (+36.65%)

Apr 23, 2026

Company Details

Palladyne AI Corp., a software company, focuses on delivering software that enhances the utility and functionality of third-party stationary and mobile robotic systems in the United States. Its Artificial Intelligence (AI)/ Machine Learning...

CEO

Benjamin G. Wolff

IPO Date

Sep 27, 2021

Website

www.palladyneai.com

Key Metrics TTM

Revenue

$5M

-32.6% YoY

Net Income

$10M

EPS (Diluted)

$0.22

Free Cash Flow

-$28M

Revenue / Share

$0.12

Gross Margin

48.7%

Operating Margin

-617.7%

Net Margin

191.4%

FCF Margin

-540.4%

P/S

46.9x

P/E

24.5x

Earnings Reports

Q1 2026

May 6, 2026

PENDING

FY 2025

Mar 5, 2026

$5M-32.6%EPS $0.24

Q4 2025

Mar 5, 2026

$2M+118.3%EPS -$0.04

Q3 2025

Nov 12, 2025

$860.0K-1.3%EPS -$0.09

Q2 2025

Aug 6, 2025

$1M-62.6%EPS -$0.20

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$743.0K	$255.0K	-$26M
Q2 22	$3M	-$108.0K	-$29M
Q3 22	$5M	$1M	-$27M
Q4 22	$6M	$2M	-$95M
Q1 23	$2M	$510.0K	-$23M
Q2 23	$1M	$334.0K	-$30M
Q3 23	$2M	$605.0K	-$31M
Q4 23	$746.0K	-$344.0K	-$37M
Q1 24	$3M	$2M	-$7M
Q2 24	$3M	$2M	-$6M
Q3 24	$871.0K	$392.0K	-$7M
Q4 24	$761.0K	$207.0K	-$6M
Q1 25	$2M	$1M	-$7M
Q2 25	$1M	$541.0K	-$8M
Q3 25	$860.0K	$399.0K	-$8M
Q4 25	$2M	$259.0K	-$9M

Valuation

Quarter	P/S	P/E
Q1 22	199.0x	—
Q2 22	68.3x	—
Q3 22	36.5x	—
Q4 22	7.4x	—
Q1 23	4.5x	—
Q2 23	3.2x	—
Q3 23	1.9x	—
Q4 23	2.9x	—
Q1 24	7.2x	—
Q2 24	4.7x	—
Q3 24	6.0x	—
Q4 24	44.7x	—
Q1 25	25.4x	—
Q2 25	70.3x	—
Q3 25	74.7x	—
Q4 25	33.2x	17.3x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$12M	-$13M
Q2 22	-$15M	-$16M
Q3 22	-$17M	-$17M
Q4 22	-$21M	-$21M
Q1 23	-$20M	-$21M
Q2 23	-$20M	-$20M
Q3 23	-$20M	-$20M
Q4 23	-$16M	-$16M
Q1 24	-$7M	-$7M
Q2 24	-$6M	-$6M
Q3 24	-$4M	-$5M
Q4 24	-$5M	-$5M
Q1 25	-$8M	-$8M
Q2 25	-$5M	-$5M
Q3 25	-$6M	-$7M
Q4 25	-$9M	-$9M

Capital Expenditures

Quarter	CapEx
Q1 22	$514.0K
Q2 22	$176.0K
Q3 22	$356.0K
Q4 22	$452.0K
Q1 23	$400.0K
Q2 23	$273.0K
Q3 23	$360.0K
Q4 23	$251.0K
Q1 24	$62.0K
Q2 24	$143.0K
Q3 24	$12.0K
Q4 24	$48.0K
Q1 25	$93.0K
Q2 25	$0
Q3 25	$384.0K
Q4 25	$236.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	+165.8%	+263.3%
Q3 22	+313.4%	-23.3%
Q4 22	+509.7%	+253.6%
Q1 23	+209.0%	-3.4%
Q2 23	-58.0%	-2.5%
Q3 23	-60.9%	+2.1%
Q4 23	-87.8%	-62.7%
Q1 24	+49.9%	-57.6%
Q2 24	+112.5%	-72.8%
Q3 24	-52.3%	-74.9%
Q4 24	+2.0%	-80.8%
Q1 25	-50.3%	-19.9%
Q2 25	-62.6%	+7.2%
Q3 25	-1.3%	+9.2%
Q4 25	+118.3%	+51.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$11M	1460.3%
Q2 22	$10M	338.1%
Q3 22	$8M	181.4%
Q4 22	$6M	99.0%
Q1 23	$3M	116.0%
Q2 23	$2M	162.1%
Q3 23	$6M	332.5%
Q4 23	$1M	165.5%
Q1 24	$571.0K	16.6%
Q2 24	$958.0K	35.3%
Q3 24	$698.0K	80.1%
Q4 24	$578.0K	76.0%
Q1 25	$1M	67.2%
Q2 25	$1M	112.4%
Q3 25	$0	0.0%
Q4 25	$1M	66.3%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 22	$6M	$18M	$2M
Q2 22	$8M	$18M	$3M
Q3 22	$10M	$15M	$2M
Q4 22	$10M	$13M	$3M
Q1 23	$9M	$10M	$4M
Q2 23	$12M	$8M	$4M
Q3 23	$10M	$8M	$2M
Q4 23	$8M	$6M	$927.0K
Q1 24	$3M	$5M	$805.0K
Q2 24	$2M	$4M	$1M
Q3 24	$3M	$4M	$1M
Q4 24	$3M	$3M	$618.0K
Q1 25	$3M	$4M	$1M
Q2 25	$3M	$4M	$1M
Q3 25	$3M	$4M	$1M
Q4 25	$4M	$5M	$1M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 22	—	-3413.3%	—
Q2 22	165.8%	-924.4%	-758.6
Q3 22	313.4%	-559.2%	-245.8
Q4 22	509.7%	-386.6%	123.0
Q1 23	209.0%	-955.7%	-746.7
Q2 23	-58.0%	-1849.3%	-1907.3
Q3 23	-60.9%	-1001.4%	-1062.2
Q4 23	-87.8%	-1981.2%	-2069.0
Q1 24	49.9%	-205.4%	-155.6
Q2 24	112.5%	-209.1%	-96.6
Q3 24	-52.3%	-835.6%	-887.9
Q4 24	2.0%	-824.0%	-822.0
Q1 25	-50.3%	-392.3%	-442.6
Q2 25	-62.6%	-776.4%	-838.9
Q3 25	-1.3%	-409.2%	-410.4
Q4 25	118.3%	-534.6%	-416.4

Rule of 40

Revenue Segments

Quarter	Product Development Contract Revenue	Product Revenue
Q2 25	$1M	$3.0K
Q3 25	$860.0K	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$199M	$0	$199M
Q2 22	$73M	$80M	$153M
Q3 22	$16M	$119M	$135M
Q4 22	$35M	$79M	$114M
Q1 23	$25M	$69M	$95M
Q2 23	$26M	$50M	$75M
Q3 23	$35M	$20M	$55M
Q4 23	$23M	$16M	$39M
Q1 24	$32M	$0	$32M
Q2 24	$26M	$0	$26M
Q3 24	$21M	$0	$21M
Q4 24	$31M	$9M	$40M
Q1 25	$10M	$37M	$47M
Q2 25	$20M	$43M	$63M
Q3 25	$27M	$30M	$57M
Q4 25	$18M	$29M	$47M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	23M	+0.1%	—
Q2 22	24M	+6.1%	+38.9%
Q3 22	25M	+3.2%	+41.6%
Q4 22	25M	+0.7%	+10.4%
Q1 23	25M	+0.5%	+10.8%
Q2 23	26M	+0.2%	+4.6%
Q3 23	26M	+0.8%	+2.2%
Q4 23	26M	+0.7%	+2.1%
Q1 24	26M	+0.0%	+1.6%
Q2 24	27M	+2.9%	+4.4%
Q3 24	26M	-1.7%	+1.8%
Q4 24	27M	+3.4%	+4.6%
Q1 25	27M	0.0%	+4.6%
Q2 25	38M	+39.5%	+41.8%
Q3 25	40M	+7.3%	+54.7%
Q4 25	42M	+4.6%	+56.4%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$4.6K	160
Q2 22	$19.0K	160
Q3 22	$29.2K	160
Q4 22	$21.9K	280
Q1 23	$8.2K	280
Q2 23	$4.6K	280
Q3 23	$6.5K	280
Q4 23	$10.7K	70
Q1 24	$49.2K	70
Q2 24	$38.8K	70
Q3 24	$12.4K	70
Q4 24	$10.7K	71
Q1 25	$24.1K	71
Q2 25	$14.3K	71
Q3 25	$12.1K	71
Q4 25	$10.3K	161

Revenue / Employee