Revenue: As of FY2026 Q1, the actual value is USD 3.538 M.EPS: As of FY2026 Q1, the actual value is USD -0.28.EBIT: As of FY2026 Q1, the actual value is USD -12.24 M.<h3>Financial Highlights for Q1 2026 (vs. Q1 2025)</h3><h4>Revenue</h4>Revenue increased 107% year-over-year to $3.5 million in Q1 2026, compared to $1.7 million in Q1 2025. <h4>Operational Metrics</h4><ul><li>Operating Loss: The operating loss was -$11.9 million in Q1 2026, compared to -$6.9 million in Q1 2025. </li><li>GAAP Net Loss: GAAP net loss was -$12.6 million in Q1 2026, compared to GAAP net income of $22.8 million in Q1 2025. </li><li>Non-GAAP Net Loss: Non-GAAP net loss was -$10.2 million in Q1 2026, compared to -$5.3 million in Q1 2025. </li><li>Cost of Revenue: Cost of revenue was $2.473 million in Q1 2026, up from $0.353 million in Q1 2025. </li><li>Total Operating Expenses: Total operating expenses amounted to $15.457 million in Q1 2026, an increase from $8.641 million in Q1 2025. <ul><li>Research and development expenses were $3.905 million in Q1 2026, compared to $2.870 million in Q1 2025. </li><li>General and administrative expenses were $6.877 million in Q1 2026, compared to $4.199 million in Q1 2025. </li><li>Sales and marketing expenses were $1.847 million in Q1 2026, compared to $1.219 million in Q1 2025. </li><li>Intangible amortization expense was $0.355 million in Q1 2026, with no comparable expense in Q1 2025. </li></ul></li></ul><h4>Cash Flow</h4><ul><li>Net Cash Used in Operating Activities: Net cash used in operating activities was -$10.239 million in Q1 2026, compared to -$7.516 million in Q1 2025. </li></ul><h4>Unique Metrics</h4><ul><li>Backlog: The backlog was approximately $17 million as of March 31, 2026, which includes approximately $7 million in new contract awards during the quarter, net of revenue recognized. </li><li>Cash, Cash Equivalents and Marketable Securities: These totaled $43.7 million as of March 31, 2026, down from $47.1 million as of December 31, 2025. </li><li>Non-cash Loss on Warrant Liabilities: A non-cash loss of $1.0 million was recorded for warrant liabilities in Q1 2026, contrasting with a $29.2 million non-cash gain in Q1 2025. </li></ul><h4>Outlook / Guidance</h4>Palladyne AI reiterates its full-year 2026 revenue guidance of $24 million to $27 million, expecting 357% to 415% year-over-year growth compared to 2025 revenue. The company anticipates revenue to be back-end weighted, with sequential growth each quarter and acceleration in the second half of the year. Consolidated quarterly operating cash usage is projected to be approximately $8 million to $9 million, on average, for the full year 2026.

PALLADYNE AI CORP C/WTS 24/09/2026 (TO PUR COM) | 8-K: FY2026 Q1 Revenue: USD 3.538 M