Palladyne AI revenue jumps 895% to $8.6 million

Palladyne AI (NASDAQ:PDYN) reported third-quarter 2026 revenue of US$8.6 million, up 895% year-over-year, while its GAAP net loss widened to US$12.01 million.

Revenue increased from US$860,000 in the prior-year quarter and rose 48% sequentially, while the company recorded a GAAP loss of US$0.25 per share compared with US$0.09 a year earlier.

Operating losses increased to US$13.4 million from US$8.1 million, reflecting higher stock-based compensation, additional employees and research and development spending, while non-GAAP net loss reached US$8.2 million, or US$0.17 per share.

Palladyne AI ended September with US$47 million in cash, cash equivalents and marketable securities, alongside US$18.7 million in backlog, including US$15.3 million funded, while its share-price reaction following the announcement was not independently verified.

The company raised the lower end of its full-year 2026 revenue guidance to US$25 million while maintaining the upper end at US$27 million, representing projected annual growth of approximately 377%–415% against 2025 revenue of US$5.2 million.

Palladyne AI develops artificial intelligence software and components for autonomous systems used in defense and advanced manufacturing, including its SwarmOS and Palladyne Pilot platforms, as well as flight computing hardware.

During the third quarter, the company reported increased revenue from government contracts, delivered its next-generation BRAIN FC-1 flight computers and announced collaborations involving FANUC America, Anduril and Orkid Tech.