Palladyne AI Corp. reported second quarter 2026 financial results, announcing revenue of $5.8 million, a 470% year-over-year increase driven by acquisitions and organic growth. The company secured approximately $13.0 million in new contract awards during the quarter, bringing total backlog to $24.6 million as of June 30, 2026. Palladyne AI reiterated its full-year 2026 revenue guidance of $24 million to $27 million and operating cash burn expectations of $32 million to $36 million. The company also highlighted strategic milestones, including an exclusive U.S. partnership with Israel Aerospace Industries for loitering munitions and successful integration of SwarmOS with the U.S. Army's 4th Infantry Division. Palladyne AI Corp. operates in the aerospace, defense, and industrial technology sectors, providing embodied AI-powered collaborative autonomy solutions, advanced avionics, UAVs, and precision-manufactured components.

Palladyne AI Corp. announced preliminary unaudited financial results for the second quarter ended June 30, 2026, expecting approximately $5.8 million in total revenue, $44.0 million in cash, cash equivalents and marketable securities, and a backlog of $24.0 million. The company is an artificial intelligence software and hardware solutions provider for industrial automation and industrial robotics.

Palladyne AI Corp. held its 2026 annual meeting of stockholders, where stockholders' approval was obtained for the amendment and restatement of the 2021 Equity Incentive Plan to increase the number of shares by 4,500,000. Additionally, stockholders approved the restricted stock unit awards to senior executives covering an aggregate of 5,360,659 shares.

Palladyne AI Corp. announced an MOU with Israel Aerospace Industries Ltd. (IAI) to gain exclusive rights to manufacture and market loitering munitions systems, including the HAROP, HARPY, and Mini-HARPY, to the U.S. government. The agreement includes a royalty-based model and requires the Company to establish and operate an assembly line in the United States.