Palladyne AI Corp.PDYNEarnings & Financial Report
Palladyne AI Corp. is an American company known for most of its existence primarily as a developer of robots. Palladyne was founded in 1983 as Sarcos Research Corporation. In 2023, Sarcos shifted its business focus to the development of artificial intelligence (AI) software for robotic applications, discontinuing its hardware operations. In March 2024, the company changed its name to Palladyne AI.
Revenue
$3.4M
Gross Profit
$1.6M
Operating Profit
$-7.4M
Net Profit
$-7.2M
Gross Margin
45.2%
Operating Margin
-213.7%
Net Margin
-210.1%
YoY Growth
49.9%
EPS
$-0.28
Palladyne AI Corp. Q1 FY2024 Financial Summary
Palladyne AI Corp. reported revenue of $3.4M (up 49.9% YoY) for Q1 FY2024, with a net profit of $-7.2M (up 66.3% YoY) (-210.1% margin). Cost of goods sold was $1.9M, operating expenses totaled $8.9M.
Key Financial Metrics
| Total Revenue | $3.4M |
|---|---|
| Net Profit | $-7.2M |
| Gross Margin | 45.2% |
| Operating Margin | -213.7% |
| Report Period | Q1 FY2024 |
Revenue Breakdown
Palladyne AI Corp. Q1 FY2024 revenue of $3.4M breaks down across 2 segments, led by Product Revenue at $2.6M (74.4% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Product Revenue | $2.6M | 74.4% |
| Other | $882.0K | 25.6% |
Palladyne AI Corp. Annual Revenue by Year
Palladyne AI Corp. annual revenue history includes year-by-year totals (for example, 2025 revenue was $5.2M).
| Year | Annual Revenue |
|---|---|
| 2025 | $5.2M |
| 2024 | $7.8M |
| 2023 | $6.1M |
| 2022 | $14.6M |
Palladyne AI Corp. Quarterly Revenue & Net Profit History
Palladyne AI Corp. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $1.7M | +118.3% | $-1.5M | -89.9% |
| Q3 FY2025 | $860.0K | -1.3% | $-3.7M | -434.9% |
| Q2 FY2025 | $1.0M | -62.6% | $-7.5M | -737.6% |
| Q1 FY2025 | $1.7M | -50.3% | $22.8M | 1330.9% |
| Q4 FY2024 | $761.0K | +2.0% | N/A | N/A |
| Q3 FY2024 | $871.0K | -52.3% | $-7.1M | -814.7% |
| Q2 FY2024 | $2.7M | +112.5% | $-5.3M | -196.2% |
| Q1 FY2024 | $3.4M | +49.9% | $-7.2M | -210.1% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.4M | $2.7M | $871000 | $761000 | $1.7M | $1.0M | $860000 | $1.7M |
| YoY Growth | 49.9% | 112.5% | -52.3% | 2.0% | -50.3% | -62.6% | -1.3% | 118.3% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $50.4M | $45.1M | $38.7M | $56.3M | $63.3M | $78.3M | $72.9M | $95.7M |
| Liabilities | $16.2M | $15.3M | $15.3M | $65.8M | $35.0M | $24.5M | $21.1M | $21.0M |
| Equity | $34.2M | $29.8M | $23.4M | $-9.5M | $28.3M | $53.8M | $51.8M | $74.7M |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $-7.2M | $-5.8M | $-4.5M | $-22.6M | $-7.5M | $-5.3M | $-6.3M | $-8.5M |