Palladyne AI reports $5.8M quarterly revenue

• Palladyne AI (NASDAQ:PDYN) reported preliminary Q2 2026 revenue of approximately $5.8 million, up 480% year over year.
• The company’s backlog increased to approximately $24 million, supported by $12.5 million in new contracts during the quarter.
• Palladyne AI reported approximately $44 million in cash, cash equivalents, and marketable securities at June 30, 2026.

Palladyne AI (NASDAQ:PDYN) reported preliminary financial results for the second quarter of fiscal 2026, with revenue increasing to approximately $5.8 million from $1 million in the same quarter of 2025.

The company’s Q2 revenue also increased approximately 66% sequentially from $3.5 million in the first quarter of 2026.

Palladyne AI reported a backlog of approximately $24 million as of June 30, 2026, compared with $17.3 million as of March 31, 2026.

The company added approximately $12.5 million in gross new contracts during the quarter across its operations, with backlog representing committed customer contracts and purchase orders.

Palladyne AI said it expects a majority of its backlog to be recognized as revenue over the next 12 to 18 months.

The company ended the quarter with approximately $44 million in cash, cash equivalents, and marketable securities, remaining roughly unchanged from the previous quarter.