Filing Flows › Palladyne AI (PDYN) › Q1 2026
Palladyne AI (PDYN) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 5, 2026
Palladyne AI (PDYN) reported revenue of $3.5M for the first quarter 2026 (Q1 2026), +107% from a year earlier and +113% from the quarter before. Operating margin was -336.9%, net loss $12.6M (356.4% of revenue).
Palladyne AI, Q1 2026: revenue $3.5M (+107% year over year), operating margin -336.9%, net loss $12.6M, operating cash flow −$10.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.5M | +113% | +107% |
| Operating profit | −$11.9M | — | — |
| Net earnings | −$12.6M | — | -155% |
| Operating cash flow | −$10.2M | — | — |
What changed
Revenue was $3.5M in Q1 2026, up 107% year over year and up 113% from the previous quarter. Engineering Services Revenue was the largest line at 50% of revenue. Product Development Contract Revenue declined 96%.
Operating costs exceeded revenue by $11.9M, an operating margin of -336.9%. Total costs grew 79% against revenue growth of 107%. The fastest-growing cost line was Cost of revenue (+601%). The quarter ended with a net loss of $12.6M, wider than the previous quarter's $1.5M loss.
Operating cash flow was −$10.2M. Non-cash charges added back $713K of depreciation and amortization and $1.2M of share-based compensation. Capital expenditures of $27K exceeded it, leaving free cash flow of −$10.3M.
Questions
What was Palladyne AI's revenue in the first quarter 2026?
Palladyne AI (PDYN) reported revenue of $3.5M for the first quarter 2026 (Q1 2026), +107% from a year earlier and +113% from the quarter before.
Was Palladyne AI profitable in the first quarter 2026?
Operating loss was $11.9M (-336.9% of revenue) and net loss $12.6M.
Source: Palladyne AI 10-Q on SEC EDGAR.