Palladyne AI reports $5.8 million Q2 revenue and $24.6 million backlog
Palladyne AI reported 470% year-on-year second-quarter revenue growth and maintained its full-year revenue outlook after adding approximately $13 million of contract awards.
Evidence notes
- Second-quarter revenue reached $5.8 million, up 470% year on year and 63% sequentially.
- Backlog was $24.6 million at June 30 after approximately $13 million of new contract awards during the quarter, net of recognised revenue.
- The company maintained full-year 2026 revenue guidance of $24 million to $27 million and expects sequential growth in the third quarter.
Company context
Palladyne AI develops embodied-AI and autonomy software for robots, drones, industrial systems and defense platforms, with commercial products including Palladyne IQ, Pilot, SwarmOS and IntelliSwarm.