PALLADYNE AI CORP (PDYNW) Financials
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PDYNW SEC filings page.
PALLADYNE AI CORP (PDYNW) reported $11.8M in revenue over the twelve months to Jun 30, 2026, up 171.8% from the prior twelve months. 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).
Palladyne AI’s non-operating earnings mask persistent operating losses despite a still-elevated, recently compressed gross margin.
FY2025 net income turned positive at$10.0M while operating income remained-$32.4M , separating reported earnings from the core operating performance. Operating cash flow was-$27.6M , so cash conversion contradicted bottom-line profit and indicates that the reported gain was not generated by the operating engine.
FY2025 revenue contracted, and gross margin narrowed by
Equity moved from
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 held $47.1M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $27.6M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and PALLADYNE AI CORP scores 45/100 among other emerging companies.
PALLADYNE AI CORP had 46M shares outstanding at the end of fiscal year 2025. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and PALLADYNE AI CORP scores 24/100 among other emerging companies.
PALLADYNE AI CORP spent $12.9M on research and development in fiscal year 2025, which was 34.3% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and PALLADYNE AI CORP scores 66/100 among other emerging companies.
PALLADYNE AI CORP reported revenue of $5.2M in fiscal year 2025, against $7.8M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and PALLADYNE AI CORP scores 33/100 among other emerging companies.
PALLADYNE AI CORP's operations used $27.6M of cash in fiscal year 2025, against $22.6M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and PALLADYNE AI CORP scores 77/100 among other emerging companies.
PALLADYNE AI CORP's cash, cash equivalents and investments came to $47.1M at the end of fiscal year 2025, against $21.0M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and PALLADYNE AI CORP scores 76/100 among other emerging companies.
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 $5.8M in revenue in Q2 2026. This represents an increase of 469.8% from the same quarter a year earlier. Against the prior quarter it is up 63.5%.
PALLADYNE AI CORP's EBITDA was -$12.7M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 60.3% from the same quarter a year earlier. Against the prior quarter it is down 12.9%.
PALLADYNE AI CORP reported -$12.3M in net income in Q2 2026. This represents a decrease of 64.6% from the same quarter a year earlier. Against the prior quarter it is up 2.2%.
PALLADYNE AI CORP earned -$0.27 per diluted share (EPS) in Q2 2026. This represents a decrease of 35.0% from the same quarter a year earlier. Against the prior quarter it is up 3.6%.
Cash & Balance Sheet
PALLADYNE AI CORP recorded an outflow of $11.0M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 107.0% from the same quarter a year earlier. Against the prior quarter it is down 7.4%.
PALLADYNE AI CORP held $33.8M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
PALLADYNE AI CORP's gross margin was 29.1% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 24.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.0 percentage points.
PALLADYNE AI CORP's ROE was -17.4% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 3.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.6 percentage points.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
PALLADYNE AI CORP invested $4.3M in research and development in Q2 2026. This represents an increase of 38.4% from the same quarter a year earlier. Against the prior quarter it is up 10.8%.
PALLADYNE AI CORP invested $862K in capex in Q2 2026, funding long-term assets and infrastructure. Against the prior quarter it is up 3092.6%.
Not reported for Q2 2026.
PDYNW Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $5.8M+469.8% | $3.5M+106.9% | $1.7M+118.3% | $860K-1.3% | $1.0M-62.6% | $1.7M-50.3% | $761K+2.0% | $871K-52.3% |
| Cost of Revenue | $4.1M+765.4% | $2.5M+600.6% | $1.4M+153.1% | $461K-3.8% | $474K-16.7% | $353K-81.3% | $554K-49.2% | $479K-60.8% |
| Gross Profit | $1.7M+210.7% | $1.1M-21.5% | $259K+25.1% | $399K+1.8% | $541K-74.8% | $1.4M-12.7% | $207K+160.2% | $392K-35.2% |
| R&D Expenses | $4.3M+38.4% | $3.9M+36.1% | $3.8M+43.9% | $3.1M+21.8% | $3.1M+33.1% | $2.9M-0.9% | $2.6M-66.9% | $2.6M-74.2% |
| SG&A Expenses | $8.1M+94.9% | $6.9M+63.8% | $4.7M+35.3% | $4.1M+4.4% | $4.2M-2.6% | $4.2M-18.1% | $3.5M-41.4% | $4.0M-47.5% |
| Operating Income | -$13.4M-65.7% | -$11.9M-72.0% | -$9.3M-43.6% | -$8.1M-10.5% | -$8.1M-39.9% | -$6.9M+5.7% | -$6.5M+82.5% | -$7.3M+76.3% |
| EBITDA | -$12.7M-60.3% | -$11.2M-67.1% | -$8.9M-42.9% | -$7.8M-9.4% | -$7.9M-41.3% | -$6.7M+6.2% | -$6.3M+82.8% | -$7.1M+75.9% |
| Interest Expense | $262K-48.1% | $325K-26.5% | $431K+55.6% | $566K+127.3% | $505K+46.0% | $442K+18.8% | $277K-46.2% | $249K-69.1% |
| Income Tax | $0 | $0 | -$2.5M-127000.0% | $0-100.0% | $0 | $0 | $2K-50.0% | $3K |
| Net Income | -$12.3M-64.6% | -$12.6M-155.4% | -$1.5M+97.2% | -$3.7M+47.3% | -$7.5M-40.7% | $22.8M+414.8% | -$53.0M-45.2% | -$7.1M+75.5% |
| EPS (Basic) | -$0.27-35.0% | -$0.28-143.8% | -$0.05+97.4% | -$0.09+66.7% | -$0.200.0% | $0.64+328.6% | -$1.95-37.3% | -$0.27+76.1% |
| EPS (Diluted) | -$0.27-35.0% | -$0.28-150.9% | -$0.05+97.4% | -$0.09 | -$0.200.0% | $0.55 | -$1.95-37.3% | -$0.27+76.1% |
| Diluted Shares (Avg) | 46M+21.8% | 45M+9.7% | N/A | 40M | 38M+41.8% | 41M | N/A | 26M+1.8% |
PDYNW Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $94.4M+20.5% | $92.6M+46.2% | $95.7M+70.1% | $72.9M+88.3% | $78.3M+73.6% | $63.3M+25.6% | $56.3M-6.9% | $38.7M-59.5% |
| Current Assets | $52.0M-20.9% | $50.3M+0.2% | $52.6M+23.0% | $60.5M+145.0% | $65.8M+115.6% | $50.3M+41.5% | $42.7M-5.2% | $24.7M-59.8% |
| Cash & Equivalents | $33.8M+67.6% | $17.9M+77.5% | $18.2M-41.6% | $27.4M+28.3% | $20.1M-22.0% | $10.1M-68.4% | $31.2M+34.8% | $21.3M-39.6% |
| Short-Term Investments | $10.0M-76.6% | $25.8M-29.4% | $28.8M+224.6% | $29.8M | $42.6M | $36.6M | $8.9M-44.3% | $0-100.0% |
| Inventory | $940K+1136.8% | $989K+1254.8% | $339K+377.5% | $76K | $76K | $73K | $71K-93.3% | $0-100.0% |
| Accounts Receivable | $2.3M+875.1% | $1.6M+895.6% | $1.1M+687.3% | $326K-47.2% | $237K-52.6% | $160K-60.8% | $134K-75.9% | $618K-55.9% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $14.7M | $14.7M | $14.7M | N/A | N/A | N/A | $0 | N/A |
| Total Liabilities | $23.6M-3.8% | $22.6M-35.3% | $21.0M-68.0% | $21.1M+37.6% | $24.5M+59.9% | $35.0M+116.0% | $65.8M+237.0% | $15.3M-21.2% |
| Current Liabilities | $8.3M+114.9% | $6.4M+104.6% | $5.7M+27.8% | $4.5M-9.3% | $3.8M-18.5% | $3.1M-39.9% | $4.4M-47.6% | $4.9M-38.1% |
| Non-Current Liabilities | $15.3M-25.9% | $16.2M-49.1% | $15.4M-74.9% | $16.6M+59.8% | $20.6M+94.9% | $31.9M+190.1% | $61.4M+454.5% | $10.4M-9.4% |
| Total Equity | $70.8M+31.6% | $69.9M+147.1% | $74.7M+883.3% | $51.8M+121.4% | $53.8M+80.6% | $28.3M-17.3% | -$9.5M-123.3% | $23.4M-69.2% |
| Retained Earnings | -$505.7M-6.3% | -$493.4M-5.4% | -$480.8M+2.0% | -$479.3M-9.5% | -$475.6M-10.4% | -$468.1M-10.0% | -$490.8M-17.4% | -$437.9M-14.7% |
Not reported in any period shown, so not listed: Long-Term Debt.
PDYNW Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$10.2M-90.8% | -$10.2M-36.2% | -$8.5M-66.9% | -$6.3M-39.8% | -$5.3M+8.1% | -$7.5M-3.9% | -$5.1M+69.1% | -$4.5M+77.7% |
| Depreciation & Amortization | $756K+278.0% | $713K+219.7% | $316K+48.4% | $300K+50.0% | $200K0.0% | $223K+10.9% | $213K-67.6% | $200K-84.8% |
| Stock-Based Compensation | $2.3M+109.1% | $1.2M+7.8% | N/A | $1.1M+51.3% | $1.1M+14.8% | $1.1M+101.2% | N/A | $698K-88.5% |
| Capital Expenditures | $862K | $27K-71.0% | $236K+391.7% | $384K+3100.0% | $0-100.0% | $93K+50.0% | $48K-80.9% | $12K-96.7% |
| Free Cash Flow | -$11.0M-107.0% | -$10.3M-34.9% | -$8.7M-69.9% | -$6.7M-48.0% | -$5.3M+10.3% | -$7.6M-4.3% | -$5.1M+69.3% | -$4.5M+78.0% |
| Investing Cash Flow | $15.2M+372.2% | $3.3M+112.0% | -$4.3M+52.0% | $12.8M+106966.7% | -$5.6M-3804.9% | -$27.5M-272.8% | -$8.9M-305.4% | -$12K-100.0% |
| Financing Cash Flow | $10.9M-48.2% | $6.6M-52.9% | $3.6M-84.8% | $679K+9600.0% | $21.0M+77870.4% | $13.9M+32502.3% | $23.9M+217036.4% | $7K+187.5% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
PDYNW Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 29.1%-24.2pp | 30.1%-49.3pp | 15.6%-11.6pp | 46.4%+1.4pp | 53.3%-25.7pp | 79.4%+34.2pp | 27.2%+73.3pp | 45.0%+11.9pp |
| Operating Margin | -231.9% | -336.9% | -560.8% | -937.8% | -797.4% | -405.3% | -852.0% | -838.0% |
| Net Margin | -213.1% | -356.4% | -89.9% | -434.9% | -737.6% | 1330.9% | -6960.4% | -814.7% |
| Return on Equity | -17.4%-3.5pp | -18.0%-98.5pp | -2.0% | -7.2%+23.1pp | -13.9%+4.0pp | 80.4%+101.6pp | N/A | -30.3%+7.8pp |
| Return on Assets | -13.1%-3.5pp | -13.6%-49.6pp | -1.6%+92.6pp | -5.1%+13.2pp | -9.6%+2.2pp | 35.9%+50.3pp | -94.2%-33.8pp | -18.3%+12.0pp |
| Current Ratio | 6.30-10.8x | 7.85-8.2x | 9.28-0.4x | 13.56+8.5x | 17.12+10.6x | 16.03+9.2x | 9.64+4.3x | 5.02-2.7x |
| Debt-to-Equity | 0.33-0.1x | 0.32-0.9x | 0.28 | 0.41-0.2x | 0.45-0.1x | 1.24+0.8x | N/A | 0.65+0.4x |
| Asset Turnover | 0.060.0x | 0.040.0x | 0.020.0x | 0.010.0x | 0.010.0x | 0.030.0x | 0.010.0x | 0.020.0x |
| FCF Margin | -190.6% | -290.2% | -526.3% | -776.1% | -524.7% | -445.0% | -676.0% | -517.8% |
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
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| PALLADYNE AI CORP PDYNW | FY2025 | $5.2M | $10.0M | N/A | N/A | 54/100 |
| Strategy STRC | FY2025 | $477.2M | -$3.8B | N/A | N/A | 40/100 |
| Apptech Paym APCXW | FY2025 | $1.4M | -$7.9M | N/A | N/A | 41/100 |
| Helport AI HPAIW | FY2025 | $34.9M | $1.9M | 5.3% | N/A | 56/100 |
| MultiSensor AI MSAIW | FY2025 | $5.6M | -$11.7M | N/A | N/A | 38/100 |
| Arqit Quantum Inc ARQQW | FY2024 | $293K | -$54.6M | N/A | N/A | — |
Where PALLADYNE AI CORP Ranks
Frequently Asked Questions
What is PALLADYNE AI CORP's annual revenue?
PALLADYNE AI CORP (PDYNW) 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 (PDYNW) 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 (PDYNW) reported a net income of $10.0M in fiscal year 2025.
What is PALLADYNE AI CORP's EBITDA?
PALLADYNE AI CORP (PDYNW) 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 (PDYNW) 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 (PDYNW) 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 (PDYNW) 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 (PDYNW) 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 (PDYNW) 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 (PDYNW) 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 (PDYNW) invested $12.9M in research and development during fiscal year 2025.
What is PALLADYNE AI CORP's current ratio?
PALLADYNE AI CORP (PDYNW) 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 (PDYNW) 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 (PDYNW) 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 Piotroski F-Score?
PALLADYNE AI CORP (PDYNW) 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 (PDYNW) 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 (PDYNW) 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 (PDYNW) scores 54 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.