Palladyne AI Corp.
8.02+0.15 (+1.91%)
Oct 29, 4:00:01 PM EDT · NasdaqGM · PDYN · USD
Key Stats
Market Cap
336.43MP/E (TTM)
-Basic EPS (TTM)
-1.84Dividend Yield
0%Recent Filings
10-Q
Q2 FY2025 results
Palladyne AI Corp. posted Q2 revenue of $1.0M, down 63% y/y from $2.7M amid milestone timing in product development contracts, while YTD revenue fell 56% y/y to $2.7M as legacy hardware sales vanished. Operating loss widened to $8.1M from $5.8M y/y, driven by 33% higher R&D spend on software testing and enhancements, though gross margins held steady around 53%. Diluted EPS came in at -$0.20, matching last year, with YTD EPS flipping to $0.39 from -$0.48 thanks to a $29.4M warrant liability gain; shares outstanding rose to 40.4M from 33.9M y/e, confirming no anti-dilution quirks. Cash and equivalents dipped to $20.1M from $31.2M y/e, but total liquidity swelled to $62.7M with $42.6M in marketable securities after $34.9M in equity raises, yielding negative FCF of $12.8M YTD (derived). No debt weighs on the balance sheet. Warrant volatility can swing results wildly.
8-K
Strong cash position amid policy headwinds
Palladyne AI Corp bolstered its balance sheet to $62.7 million in cash and equivalents as of June 30, 2025, after raising $34.8 million net in the first half via at-the-market offerings and warrant exercises, maintaining zero long-term debt. While U.S. trade policy shifts temporarily slowed Palladyne IQ sales momentum amid 12-18 month cycles, the company eyes revenue starts in late 2025 and modest 2026 growth, fueled by reshoring and defense spending tailwinds. Funds suffice for 2.5 years without new revenue. A new $50 million ATM filing signals pursuit of strategic expansions.
8-K
CEO receives 1.5M RSUs
Palladyne AI Corp. granted CEO Benjamin G. Wolff 1.5 million restricted stock units on July 2, 2025, following stockholder approval, fully offsetting his prior cash payment entitlement under the amended employment agreement. This move aligns executive incentives with shareholder value while eliminating the $0 cash liability at term end or change in control. Equity ties Wolff's rewards to stock performance through 2027.
8-K
Annual meeting approves CEO stock awards
Palladyne AI Corp. held its 2025 annual meeting on June 11, electing Admiral Eric T. Olson (Ret.) and Benjamin G. Wolff as Class I directors until 2028, ratifying KPMG LLP as auditors for the fiscal year ending December 31, 2025, and approving restricted stock awards to CEO Wolff. This approval supports Wolff's amended employment agreement, tying his minimal $1 cash salary in 2025 and $250,000 annually thereafter to stock-based incentives, including a potential cash payment for 1,800,000 shares upon term end or change in control. Alignment trumps cash. The awards reduce that payment on a 1.2-to-1 basis up to 1,500,000 vesting shares.
8-K
Palladyne AI unveils autonomy platforms
Palladyne AI Corp. released an investor presentation on May 19, 2025, highlighting its AI software platforms, Palladyne IQ for industrial robots and cobots, and Palladyne Pilot for UAVs, enabling closed-loop autonomy to automate complex tasks with minimal training. The deck outlines advantages over brute-force models, targeting markets like manufacturing and defense where robots learn from 1-5 demonstrations at the edge, reducing costs and human intervention. Cash stood at $46.6 million as of March 31, 2025, with no long-term debt. Forward-looking statements carry risks detailed in SEC filings.
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