Revenue missed consensus by ~29% but grew 107% YoY, and the company reiterated its aggressive full-year guidance. The stock may trade on the revenue miss vs the guidance reiteration — watch for whether the market focuses on the near-term miss or the long-term backlog-driven growth narrative. Monitor Q2 revenue trajectory for confirmation of back-end weighted ramp.
Price Chart
Executive Summary
Palladyne AI reported Q1 2026 revenue of $3.5M, up 107% YoY but below the $4.9M consensus estimate. GAAP EPS was -$0.28 vs +$0.64 in the prior year period (which included a $29.2M non-cash warrant gain). The company reiterated its full-year 2026 revenue guidance of $24M-$27M, implying 357%-415% growth, and reported backlog of ~$17M. Operating losses widened to -$11.9M from -$6.9M, and cash burn was $10.2M, above the guided $8M-$9M quarterly range.
Key Financial Metrics
Key Facts
- Q1 2026 revenue of $3.5M, up 107% YoY from $1.7M, but below consensus estimate of $4.9M
- GAAP net loss of -$12.6M (-$0.28/share) vs net income of $22.8M ($0.64/share) in Q1 2025, which included a $29.2M non-cash gain on warrant liabilities
- Non-GAAP net loss of -$10.2M (-$0.23/share) vs -$5.3M (-$0.15/share) in Q1 2025
- Operating loss widened to -$11.9M from -$6.9M, reflecting full quarter of acquired businesses' expenses
- Cash, cash equivalents and marketable securities totaled $43.7M as of March 31, 2026, down from $47.1M at December 31, 2025
- Backlog of ~$17M as of March 31, 2026, with ~$7M in new contract awards during the quarter
- Full-year 2026 revenue guidance reiterated at $24M-$27M (357%-415% YoY growth), back-end weighted
- Q1 2026 operating cash usage of $10.2M exceeded the guided $8M-$9M quarterly range due to government shutdown impact and working capital investment
Financial Impact
Revenue miss of ~$1.4M vs consensus ($3.5M actual vs $4.9M estimate), but 107% YoY growth. Operating loss widened by $5.0M YoY. Cash burn $1.2M above guided range.
Risk Factors
- Revenue miss vs consensus could pressure near-term sentiment
- Cash burn above guided range ($10.2M vs $8M-$9M) raises liquidity concerns if revenue ramp is delayed
- Backlog conversion timing risk — guidance depends on back-end weighted revenue recognition
- Operating losses continue to widen as acquired businesses scale
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-205033 |
| Document: pdyn-20260505.htm | 0001193125-26-205033 |
| Document: 0001193125-26-205033-index-headers.html | 0001193125-26-205033 |
| Document: 0001193125-26-205033-index.html | 0001193125-26-205033 |
| Document: 0001193125-26-205033.txt | 0001193125-26-205033 |
| 8-K Data (Synthetic) | 0001193125-26-205033 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 8, 2026 20w ago | 8-K | $0.0420 $0.008700 | ▲ +79.29% | ▲ +83.10% | — |
May 11, 2026 24w ago | DEFA14A | $0.0750 $0.008800 | ▼ −88.27% | ▼ −92.65% | — |
May 5, 2026 25w ago | 8-K | $0.0750 $0.0132 | ▼ −82.40% | ▼ −85.14% | — |
Apr 22, 2026 26w ago | DEFA14A | $0.0750 $0.0180 | ▼ −76.00% | ▼ −81.02% | — |
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