Short answer
Palladyne AI Corp. (PDYN) filed its Q1 2026 10-Q quarterly report on May 5, 2026 for the quarter ended Mar 31, 2026. Quarterly revenue was $4M (up 106.9% year over year) with net income of −$13M.
Q1 2026 key financials · XBRL
- Revenue
- $4M
- +106.9% YoY
- Net income
- −$13M
- −155.4% YoY
- Operating margin
- -336.9%
- EPS (diluted)
- −$0.28
- −150.9% YoY
Source: XBRL data from the Palladyne AI Corp. (PDYN) Q1 2026 10-Q on SEC EDGAR. USD.
Palladyne AI Corp. Q1 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $3.5M, up 107% YoY from $1.7M, driven by product and engineering services revenue
- Product revenue $1.7M; engineering services $1.8M, while development contract revenue fell 96% to $0.1M
- Operating expenses $15.5M, up 79% YoY from $8.6M; operating margin figures not disclosed
- Cash, equivalents and marketable securities $43.7M vs $47.1M at December 31, 2025
- Near-term outlook: commercialization efforts and customer trials continuing through 2026; 12–18-month Palladyne IQ sales cycles and government-contract timing headwinds
Risk Factors
- Operating loss $11.9 million and accumulated deficit $493.4 million as of March 31, 2026
- Negative operating cash flow $10.2 million for the quarter, threatening continued operations without additional capital
- AI/ML failures or misuse, including privacy and human-rights impacts, creating regulatory action and litigation exposure
- Palladyne IQ sales cycles estimated at 12–18 months or longer, delaying near-term revenue conversion
- Government-contract exposure to shutdowns, funding reductions, bid protests, and termination rights
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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