PALLADYNE AI CORP Financials
PALLADYNE AI CORP (PDYN) reported $5.2M in revenue for fiscal year 2025, down 32.6% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Tiny revenue supports little of the cost base, so Palladyne AI still operates on external financing despite a brief accounting profit.
FY2025’s$10.0M net income came alongside-$27.6M operating cash flow, so the reported profit did not reflect cash coming out of the core business. EBITDA was still-$31.3M while revenue stayed under$8M in both FY2024 and FY2025, which points to a cost structure that remains far larger than the revenue base.
Short-term liquidity looks comfortable on paper, with current assets of
The business still relied on outside capital in FY2025, bringing in
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of PALLADYNE AI CORP's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
PALLADYNE AI CORP scores 1.12, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($302.4M) relative to total liabilities ($21.0M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
PALLADYNE AI CORP passes 2 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, PALLADYNE AI CORP used $2.75 of operating cash (-$27.6M OCF vs $10.0M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
PALLADYNE AI CORP reported an operating loss of $32.4M against $1.9M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
PALLADYNE AI CORP generated $5.2M in revenue in fiscal year 2025. This represents a decrease of 32.6% from the prior year.
PALLADYNE AI CORP's EBITDA was -$31.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 20.0% from the prior year.
PALLADYNE AI CORP reported $10.0M in net income in fiscal year 2025. This represents an increase of 113.8% from the prior year.
Cash & Balance Sheet
PALLADYNE AI CORP recorded an outflow of $28.4M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 23.8% from the prior year.
PALLADYNE AI CORP held $18.2M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
PALLADYNE AI CORP's gross margin was 48.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 6.5 percentage points from the prior year.
PALLADYNE AI CORP's ROE was 13.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is above 100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
PALLADYNE AI CORP invested $12.9M in research and development in fiscal year 2025. This represents an increase of 23.6% from the prior year.
PALLADYNE AI CORP invested $713K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 169.1% from the prior year.
Not reported for fiscal year 2025.
PDYN Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|---|
| Revenue | $11.8M | $5.2M-32.6% | $7.8M+26.7% | $6.1M-57.8% | $14.6M+187.1% | $5.1M-42.4% | $8.8M |
| Cost of Revenue | $8.4M | $2.7M-22.9% | $3.5M-30.8% | $5.0M-56.6% | $11.6M+200.3% | $3.9M-31.0% | $5.6M |
| Gross Profit | $3.4M | $2.6M-40.5% | $4.3M+289.0% | $1.1M-62.6% | $3.0M+144.6% | $1.2M-62.4% | $3.2M |
| R&D Expenses | $15.1M | $12.9M+23.6% | $10.4M-73.2% | $39.0M+14.3% | $34.1M+94.9% | $17.5M+24.1% | $14.1M |
| SG&A Expenses | $23.8M | $17.2M+2.1% | $16.8M-46.5% | $31.5M-50.5% | $63.5M+9.3% | $58.1M+695.7% | $7.3M |
| Operating Income | -$42.7M | -$32.4M-20.4% | -$26.9M+77.7% | -$121.0M+31.7% | -$177.0M-118.6% | -$81.0M-285.7% | -$21.0M |
| Interest Expense | $1.6M | $1.9M+56.3% | $1.2M-62.2% | $3.3M+79.9% | $1.8M+5485.3% | -$34K-185.0% | $40K |
| Income Tax | -$2.5M | -$2.5M-50860.0% | $5K-28.6% | $7K+100.2% | -$3.9M-389300.0% | $1K0.0% | $1K |
| Net Income | -$30.2M | $10.0M+113.8% | -$72.6M+37.2% | -$115.6M+26.4% | -$157.1M-92.8% | -$81.5M-289.5% | -$20.9M |
| EPS (Diluted) | — | $0.24 | -$2.71+39.9% | -$4.51+29.8% | -$6.42 | -$0.72 | N/A |
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
PDYN Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|
| Total Assets | $95.7M+70.1% | $56.3M-6.9% | $60.4M-64.0% | $167.6M-28.9% | $235.8M+519.8% | $38.1M |
| Current Assets | $52.6M+23.0% | $42.7M-5.2% | $45.1M-65.1% | $129.1M-43.5% | $228.3M+528.4% | $36.3M |
| Cash & Equivalents | $18.2M-41.6% | $31.2M+34.8% | $23.1M-34.2% | $35.2M-83.8% | $217.1M+544.9% | $33.7M |
| Inventory | $339K+377.5% | $71K-93.3% | $1.1M-70.1% | $3.6M+254.1% | $1.0M+42.3% | $707K |
| Accounts Receivable | $1.1M+687.3% | $134K-75.9% | $555K-70.3% | $1.9M+136.8% | $788K-25.0% | $1.1M |
| Goodwill | $14.7M | $0 | N/A | N/A | N/A | N/A |
| Total Liabilities | $21.0M-68.0% | $65.8M+237.0% | $19.5M-15.8% | $23.2M+6.0% | $21.9M+324.7% | $5.1M |
| Current Liabilities | $5.7M+27.8% | $4.4M-47.6% | $8.5M-19.7% | $10.5M+70.9% | $6.2M+73.3% | $3.6M |
| Total Equity | $74.7M+883.3% | -$9.5M-123.3% | $40.9M-71.7% | $144.4M-32.5% | $214.0M+550.2% | $32.9M |
| Retained Earnings | -$480.8M+2.0% | -$490.8M-17.4% | -$418.2M-38.2% | -$302.6M-108.0% | -$145.5M-127.4% | -$64.0M |
Not reported in any period shown, so not listed: Long-Term Debt.
PDYN Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$35.2M | -$27.6M-22.1% | -$22.6M+70.5% | -$76.6M-17.2% | -$65.4M-55.3% | -$42.1M-149.4% | -$16.9M |
| Capital Expenditures | $1.5M | $713K+169.1% | $265K-66.1% | $782K-47.8% | $1.5M-68.0% | $4.7M+393.5% | $950K |
| Free Cash Flow | -$36.7M | -$28.4M-23.8% | -$22.9M+70.4% | -$77.4M-15.7% | -$66.9M-43.0% | -$46.8M-162.4% | -$17.8M |
| Investing Cash Flow | $27.1M | -$24.6M-457.4% | $6.9M-89.4% | $64.7M+159.3% | -$109.0M-2226.0% | -$4.7M-393.5% | -$950K |
| Financing Cash Flow | $21.8M | $39.2M+64.9% | $23.8M+29124.4% | -$82K+98.9% | -$7.5M-103.3% | $230.2M+444.3% | $42.3M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
PDYN Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|
| Gross Margin | 48.7%-6.5pp | 55.2%+37.2pp | 18.0%-2.3pp | 20.3%-3.5pp | 23.8%-12.6pp | 36.4% |
| Operating Margin | -617.7% | -345.8% | -1968.0% | -1215.2% | -1595.9% | -238.3% |
| Net Margin | 191.4% | -932.7% | -1880.8% | -1078.5% | -1606.1% | -237.4% |
| Return on Equity | 13.4% | N/A | -282.6%-173.8pp | -108.8%-70.7pp | -38.1%+25.5pp | -63.6% |
| Return on Assets | 10.5%+139.6pp | -129.1%+62.2pp | -191.3%-97.6pp | -93.7%-59.2pp | -34.6%+20.4pp | -55.0% |
| Current Ratio | 9.28-0.4x | 9.64+4.3x | 5.33-6.9x | 12.26-24.8x | 37.06+26.8x | 10.22 |
| Debt-to-Equity | 0.28 | N/A | 0.48+0.3x | 0.16+0.1x | 0.10-0.1x | 0.16 |
| FCF Margin | -540.4% | -294.0% | -1259.4% | -459.1% | -922.0% | -202.3% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Similar Companies
Where PALLADYNE AI CORP Ranks
Frequently Asked Questions
What is PALLADYNE AI CORP's annual revenue?
PALLADYNE AI CORP (PDYN) reported $5.2M in total revenue for fiscal year 2025. This represents a -32.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is PALLADYNE AI CORP's revenue growing?
PALLADYNE AI CORP (PDYN) revenue declined by 32.6% year-over-year, from $7.8M to $5.2M in fiscal year 2025.
Is PALLADYNE AI CORP profitable?
Yes, PALLADYNE AI CORP (PDYN) reported a net income of $10.0M in fiscal year 2025.
What is PALLADYNE AI CORP's EBITDA?
PALLADYNE AI CORP (PDYN) had EBITDA of -$31.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is PALLADYNE AI CORP's gross margin?
PALLADYNE AI CORP (PDYN) had a gross margin of 48.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is PALLADYNE AI CORP's return on equity (ROE)?
PALLADYNE AI CORP (PDYN) has a return on equity of 13.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is PALLADYNE AI CORP's free cash flow?
PALLADYNE AI CORP (PDYN) recorded an outflow of $28.4M in free cash flow during fiscal year 2025. This represents a -23.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is PALLADYNE AI CORP's operating cash flow?
PALLADYNE AI CORP (PDYN) recorded an outflow of $27.6M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are PALLADYNE AI CORP's total assets?
PALLADYNE AI CORP (PDYN) had $95.7M in total assets as of fiscal year 2025, including both current and long-term assets.
What are PALLADYNE AI CORP's capital expenditures?
PALLADYNE AI CORP (PDYN) invested $713K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does PALLADYNE AI CORP spend on research and development?
PALLADYNE AI CORP (PDYN) invested $12.9M in research and development during fiscal year 2025.
What is PALLADYNE AI CORP's current ratio?
PALLADYNE AI CORP (PDYN) had a current ratio of 9.28 as of fiscal year 2025, which is generally considered healthy.
What is PALLADYNE AI CORP's debt-to-equity ratio?
PALLADYNE AI CORP (PDYN) had a debt-to-equity ratio of 0.28 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is PALLADYNE AI CORP's return on assets (ROA)?
PALLADYNE AI CORP (PDYN) had a return on assets of 10.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is PALLADYNE AI CORP's cash runway?
Based on fiscal year 2025 data, PALLADYNE AI CORP (PDYN) had $18.2M in cash against an annual operating cash burn of $27.6M. This gives an estimated cash runway of approximately 8 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is PALLADYNE AI CORP's Altman Z-Score?
PALLADYNE AI CORP (PDYN) has an Altman Z-Score of 1.12, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is PALLADYNE AI CORP's Piotroski F-Score?
PALLADYNE AI CORP (PDYN) has a Piotroski F-Score of 2 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are PALLADYNE AI CORP's earnings high quality?
For every $1 of reported earnings, PALLADYNE AI CORP (PDYN) used $2.75 of operating cash (-$27.6M OCF vs $10.0M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can PALLADYNE AI CORP cover its interest payments?
PALLADYNE AI CORP (PDYN) reported an operating loss of $32.4M against $1.9M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is PALLADYNE AI CORP?
PALLADYNE AI CORP (PDYN) scores 52 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.