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Palladyne AI Corp. (PDYN) stock

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NASDAQ: PDYN Nasdaq Application Software Next results ~November 10, 2026

D Fundamentals grade

Palladyne AI Corp. is a US-listed company in the application software industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$1.3

Growth cash-flow model

Base case. Range ~$0.6–$2.0. Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Palladyne AI Corp. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders2 buying, 4 selling7 purchases and 16 sales by directors and officers, last 12 monthsInsider trades
  • Funds65 adding, 46 cuttingOf 15 active managers that changed their stake, 8 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Palladyne AI files

10-Q filed August 6: Palladyne AI

Revenue for the twelve months to June 2026 was $12m, up 171.8% on a year earlier, faster than the 16.8% growth a quarter earlier. That growth ranks 4 of 126 among the application software companies we cover. Free-cash-flow margin rose to -310.0% from -518.5% a year earlier. Operating margin widened to -360.7% from -661.2%. The diluted share count is up 35.5% on a year earlier, which dilutes existing holders. Our valuation models combined value is $1.51 a share.

Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where Palladyne AI stands after its latest Filing

Revenue for the twelve months was $12m, up 171.8% on a year earlier, faster than the 16.8% growth a quarter earlier. That growth ranks 4 of 124 among the application software companies we cover. Free-cash-flow margin rose to -310.0% from -518.5% a year earlier. Operating margin widened to -360.7% from -661.2%. The diluted share count is up 35.5% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 2 of our 2 financial-health checks.

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 10, 2026 (estimated)

Palladyne AI Corp.'s trailing-twelve-month revenue grew 171.8% year on year, with a free-cash-flow margin of -310.0%. Where it stands out: change in growth rate of +155.0pp ranks 3 of 184 application software companies we cover. Where it lags: free-cash-flow margin of -310.0% ranks 171 of 180 application software companies we cover.

Current signal Revenue growth accelerating: TTM revenue growth rose to 171.8% (+155.0pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 171.8% over the last 12 months, against a median of 12.0% for application software companies we cover.
  • Growth speeding up. The growth rate is 155.0 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 300.5 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $0.0bn.

Things to watch

  • Loss-making. Operating margin is -360.7%: costs exceed revenue.
  • Burning cash. Free cash flow was -310.0% of revenue over the last 12 months.
  • Heavy stock-based pay. Stock pay equals 48.1% of revenue, against a median of 9.3% for application software companies we cover: a real cost that cash-flow figures leave out.
  • Share dilution. Diluted shares rose 35.5% in a year.
  • High sales multiple. The shares trade at 13 times revenue while operating margins remain thin.
  • Volatile shares. Over the past year the shares showed annualised volatility of 93% and a beta of 2.9 against the S&P 500.

Latest results: FY2026 Q2

Filed August 6, 2026
Earnings per share
-$0.23 against an average estimate of -$0.24: beat by 4.2%
Revenue
$6m, up 469.8% on a year earlier
Share reaction
+0.3% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Next report
November 10, 2026; average EPS estimate -$0.24

Palladyne AI's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.8%
  • 1 week-13.7%
  • 1 month-37.3%
  • This year-21.6%
  • 1 year-60.1%
  • 5 years-92.2%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$11.8M
Operating margin
-360.7%
Net margin
-254.7%
EPS (TTM, diluted)
$-0.67

Growth

Revenue growth
+171.8%
Change in growth rate
+155.0 pts
Share count change
+35.5%

Cash

Free cash flow (TTM)
-$36.7M
FCF margin
-310.0%
Stock pay % of revenue
48.1%

Earnings

Last results
August 6, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Palladyne AI Corp. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value Palladyne AI Corp. as an operating company, with every model that fits that kind of business. Cost of equity 12%: the 10-year Treasury yield (4.9%) plus a beta of 1.57 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$1.3 ~$0.6–$2.0 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$0.2 ~$1.5–$4.4 Left out: out of range vs price (0.07x)
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: revenue and margins don't support a positive value
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$1.3 ~$0.6–$2.0 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Palladyne AI Corp. with Application Software in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20212022202320242025Now
Share price$59.88$3.37$0.72$12.27$4.26$3.34
Market value$1.1bn$82m$18m$329m$179m$151m
+ Net debt (− = net cash)−$215m−$35m−$23m−$31m−$18m−$34m
Enterprise value$914m$47m−$5m$297m$161m$117m
Multiples
Price / sales n/m5.7x3.0x42.2x34.2x12.7x
Price / earnings ————17.9x—
Price / free cash flow ——————
EV / EBITDA ——————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

2 /100

Weak moat

How hard Palladyne AI's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Cash operating profit has been a median -28.9% of total assets over 5 years.

  • Pricing power 4 / 20

    Gross margin has been a median 32.7%, moving by 16.4 percentage points (standard deviation) across 6 years.

  • Durability 10 / 20

    Operating margin has been a median -794.4%; its worst year was -2075.5%.

  • Cash conversion 0 / 20

    Free cash flow was positive in 0 of 5 years, at a median -549.6% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (17 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 10, 2026, before the open. Analysts expect revenue of $8m and EPS of −$0.24 (range −$0.27 to −$0.21) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.93 −488% $25m +374%
Next −$0.73 +22% $40m +61%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −0.5% on 90 days ago. In the last 30 days, 0 analysts raised Palladyne AI Corp.'s forecast and 1 cut it.

Consensus EPS forecast Palladyne AI Corp., last 90 days
−$1.00 −$0.50 $0.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.94 Current fiscal year, 60 days ago: −$0.94 Current fiscal year, 30 days ago: −$0.91 Current fiscal year, 7 days ago: −$0.91 Current fiscal year, Now: −$0.93 −$0.93 Next fiscal year, 90 days ago: −$0.71 Next fiscal year, 60 days ago: −$0.71 Next fiscal year, 30 days ago: −$0.70 Next fiscal year, 7 days ago: −$0.70 Next fiscal year, Now: −$0.73 −$0.73

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.94−$0.71
60 days ago −$0.94−$0.71
30 days ago −$0.91−$0.70
7 days ago −$0.91−$0.70
Now −$0.93−$0.73

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.24 −$0.23 +4.2%
Mar 2026 −$0.17 −$0.23 −39.4%
Dec 2025 −$0.18 −$0.04 +77.8%
Sept 2025 −$0.20 −$0.09 +55.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

4 analysts, Oct 2026
Buy375%
Hold125%
Sell00%

Monthly trend

  1. Oct 2026314
  2. Sep 2026314
  3. Aug 2026314

Counts of recommendations published by analysts covering Palladyne AI Corp., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
13.9%
of tradable shares
Days to cover
6.54
at average volume
Short interest, 1 month
−6%
to October 15, 2026
Held by institutions
28%
of shares
Held by insiders
26.6%
of shares
Employees
161
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −60.1%

$8.37 on October 31, 2025 to $3.34

ThenNowEffect
Revenue (last 12 months) $4m $12m +171.8%
P/S multiple 64.1x 12.7x −80.1%
Share count 33m 45m −26.2%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 20222023202420252026 to date
Return
PDYN−94%−79%+1602%−65%−22%
Industry peers (median)−50%+19%+2%−20%−14%
S&P 500−18%+26%+25%+18%+11%
Months that ended higher
PDYN25%33%67%33%55%
S&P 50042%67%75%75%46%
Largest fall from a high during the year
PDYN−95%−90%−57%−67%−67%
S&P 500−25%−10%−8%−19%−9%

Worst fall since September 27, 2021: 99% from December 30, 2021 to February 6, 2024. Getting back needed a 12889% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$3.31 – $9.96
From 52-week high
−66.5%
vs 50-day average
−33.4%
vs 200-day average
−45.3%
Volatility (1 year)
93%
Beta vs S&P 500
2.93

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±9.4%
After a week
4 up, 8 down
typical move ±14.0%
After a month
3 up, 9 down
typical move ±15.5%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 +0.3% +0.5% +5.4% −4.4%
July 8, 2026 +1.7% +0.5% −1.9% +9.7%
May 5, 2026 −0.9% +2.2% +2.9% +25.2%
March 5, 2026 +14.8% −1.9% −5.0% −11.6%
January 13, 2026 +7.8% −0.7% +5.4% −0.2%
November 12, 2025 −8.8% −1.6% −21.4% −28.9%
August 6, 2025 −18.9% +0.7% −12.6% −23.5%
March 31, 2025 −10.8% +1.0% −16.0% −6.6%
February 20, 2025 −8.2% −2.1% −21.0% −15.5%
December 31, 2024 −11.6% −0.6% −42.9% −42.1%
August 7, 2024 −8.7% +1.6% −13.9% −15.0%
November 14, 2023 +20.0% +2.2% +19.3% +3.9%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Palladyne AI Corp. in five measures

Fundamentals grade D
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Palladyne AI Corp.
$4M $6M $8M $10M $12M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $11.5M Revenue (TTM), FY23 Q4: $6.1M Revenue (TTM), FY24 Q1: $7.3M Revenue (TTM), FY24 Q2: $8.7M Revenue (TTM), FY24 Q3: $7.8M Revenue (TTM), FY24 Q4: $7.8M Revenue (TTM), FY25 Q1: $6.1M Revenue (TTM), FY25 Q2: $4.4M Revenue (TTM), FY25 Q3: $4.3M Revenue (TTM), FY25 Q4: $5.2M Revenue (TTM), FY26 Q1: $7.1M Revenue (TTM), FY26 Q2: $11.8M $11.8M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $11.5M
FY23 Q4 $6.1M
FY24 Q1 $7.3M
FY24 Q2 $8.7M
FY24 Q3 $7.8M
FY24 Q4 $7.8M
FY25 Q1 $6.1M
FY25 Q2 $4.4M
FY25 Q3 $4.3M
FY25 Q4 $5.2M
FY26 Q1 $7.1M
FY26 Q2 $11.8M
Revenue growth, TTM YoY Palladyne AI Corp.
-100% 0% 100% 200% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 21.9% Revenue growth, TTM YoY, FY23 Q4: -57.8% Revenue growth, TTM YoY, FY24 Q1: -54.8% Revenue growth, TTM YoY, FY24 Q2: -39.2% Revenue growth, TTM YoY, FY24 Q3: -32.5% Revenue growth, TTM YoY, FY24 Q4: 26.7% Revenue growth, TTM YoY, FY25 Q1: -17.0% Revenue growth, TTM YoY, FY25 Q2: -50.1% Revenue growth, TTM YoY, FY25 Q3: -44.1% Revenue growth, TTM YoY, FY25 Q4: -32.6% Revenue growth, TTM YoY, FY26 Q1: 16.8% Revenue growth, TTM YoY, FY26 Q2: 171.8% 171.8%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 21.9%
FY23 Q4 -57.8%
FY24 Q1 -54.8%
FY24 Q2 -39.2%
FY24 Q3 -32.5%
FY24 Q4 26.7%
FY25 Q1 -17.0%
FY25 Q2 -50.1%
FY25 Q3 -44.1%
FY25 Q4 -32.6%
FY26 Q1 16.8%
FY26 Q2 171.8%
Operating margin (TTM) Palladyne AI Corp.
-2000% -1500% -1000% -500% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -1554.4% Operating margin (TTM), FY23 Q4: -1968.0% Operating margin (TTM), FY24 Q1: -1441.8% Operating margin (TTM), FY24 Q2: -927.6% Operating margin (TTM), FY24 Q3: -739.9% Operating margin (TTM), FY24 Q4: -345.8% Operating margin (TTM), FY25 Q1: -437.7% Operating margin (TTM), FY25 Q2: -661.2% Operating margin (TTM), FY25 Q3: -680.5% Operating margin (TTM), FY25 Q4: -617.7% Operating margin (TTM), FY26 Q1: -528.6% Operating margin (TTM), FY26 Q2: -360.7% -360.7%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -1554.4%
FY23 Q4 -1968.0%
FY24 Q1 -1441.8%
FY24 Q2 -927.6%
FY24 Q3 -739.9%
FY24 Q4 -345.8%
FY25 Q1 -437.7%
FY25 Q2 -661.2%
FY25 Q3 -680.5%
FY25 Q4 -617.7%
FY26 Q1 -528.6%
FY26 Q2 -360.7%
FCF margin (TTM) Palladyne AI Corp.
-1500% -1000% -500% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -716.5% FCF margin (TTM), FY23 Q4: -1259.4% FCF margin (TTM), FY24 Q1: -880.2% FCF margin (TTM), FY24 Q2: -572.7% FCF margin (TTM), FY24 Q3: -437.4% FCF margin (TTM), FY24 Q4: -294.0% FCF margin (TTM), FY25 Q1: -383.2% FCF margin (TTM), FY25 Q2: -518.5% FCF margin (TTM), FY25 Q3: -569.6% FCF margin (TTM), FY25 Q4: -540.4% FCF margin (TTM), FY26 Q1: -438.3% FCF margin (TTM), FY26 Q2: -310.0% -310.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -716.5%
FY23 Q4 -1259.4%
FY24 Q1 -880.2%
FY24 Q2 -572.7%
FY24 Q3 -437.4%
FY24 Q4 -294.0%
FY25 Q1 -383.2%
FY25 Q2 -518.5%
FY25 Q3 -569.6%
FY25 Q4 -540.4%
FY26 Q1 -438.3%
FY26 Q2 -310.0%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 9 5 15 6 8 5 12
Gross profit 3 1 3 1 4 3 3
EBITDA −21 −80 −176 −119 −26 −31 −41
Operating income −21 −81 −177 −121 −27 −32 −43
Net income −21 −82 −157 −116 −73 10 −30
Diluted EPS −$1.26 −$0.72 −$6.42 −$4.51 −$2.71 $0.24 −$0.67
Growth (year on year)
Revenue — −42.4% +187.1% −57.8% +26.7% −32.6% +171.8%
Margins
Gross margin 36.4% 23.8% 20.3% 18.0% 55.2% 48.7% 28.7%
EBITDA margin −233.1% <−999% <−999% <−999% −335.2% −599.1% −349.1%
Operating margin −238.3% <−999% <−999% <−999% −345.8% −617.7% −360.7%
Net margin −237.4% <−999% <−999% <−999% −932.7% 191.4% −254.7%
Free-cash-flow margin −202.3% −922.0% −459.1% <−999% −294.0% −540.4% −310.0%
Cash flow
Cash from operations −17 −42 −65 −77 −23 −28 −35
Capital spending 1 5 1 1 0 1 2
Free cash flow −18 −47 −67 −77 −23 −28 −37
Stock-based pay 2 43 36 12 3 4 6
Free cash flow after stock pay −20 −90 −103 −89 −26 −33 −42
Balance sheet
Cash 34 217 35 23 31 18 34
Total debt 2 2 0 0 0 0 0
Net debt (negative = net cash) −31 −215 −35 −23 −31 −18 −34
Diluted shares 17m 19m 24m 26m 27m 42m 45m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · June 30, 2026
What it owns · $94m
Short-term assets $52mLonger-term assets $42m
What it owes, and who funded it · $94m
Short-term liabilities $8mLonger-term liabilities $15mShareholders' equity $71m
  • Short-term assets cover short-term liabilities $52m of assets due within a year against $8m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $52m short-term assets against $15m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Palladyne AI Corp.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+35.5%
year over year
R&D spending
127.8%
of revenue
Days sales outstanding
71 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in application software
Last 12 months unless stated PDYN AIXI PARA DKI NTCL RYDE Median
Revenue, last 12 months $12m $12m $11m $10m $10m $10m $482m
Revenue growth, last 12 months 171.8% >999% 19.6% 27.3% −2.9% 42.9% 12.0%
Revenue growth, latest quarter 469.8% — −27.3% — — — 11.9%
Gross margin 28.7% 44.4% 81.2% 24.8% 22.8% — 69.2%
Operating margin −360.7% −783.6% −177.7% −85.3% −111.5% −50.1% 1.1%
Operating margin, 3-year average −649.8% — −213.5% — — — −0.8%
Net margin −254.7% −821.1% −228.7% −85.7% −110.4% −139.5% 2.1%
Cash from operations / revenue −297.2% −29.9% −151.1% −4.5% −58.3% −188.2% 18.2%
Free-cash-flow margin −310.0% −30.3% −162.5% −4.6% −58.4% −188.2% 15.0%
Free-cash-flow margin, 3-year average −467.0% — −121.9% — — — 16.2%
Stock pay / revenue 48.1% 47.7% 37.6% 87.4% 31.2% 88.7% 9.3%
Change in share count 35.5% 61.1% — 3.3% 14.2% 110.7% 2.2%

Median of all 185 companies we cover in application software. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

185 application software companies
Measure Company Peer median Rank
Revenue growth Growth 171.8% 12.0% 6 of 184
Change in growth rate Growth +155.0pp +0.2pp 3 of 184
Gross margin Profitability 28.7% 69.8% 143 of 160
Operating margin Profitability -360.7% 1.1% 166 of 181
Net margin Profitability -254.7% 2.1% 169 of 185
Free-cash-flow margin Cash generation -310.0% 15.2% 171 of 180
Stock pay as % of revenue Cash generation 48.1% 9.3% 164 of 177
Change in share count Balance sheet 35.5% 1.7% 144 of 163
Days sales outstanding Balance sheet 71 days 57 days 108 of 162

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Services Revenue $4.7M 89.3% ▼ 8.5%
Manufacturing Revenue $559,000 10.7% —
Product Revenue $3,000 0.1% ▼ 99.9%

From Palladyne AI Corp.'s 10-K filed March 5, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$76.2M
Institutions reporting
119
Shares held vs prior quarter
▲ 15.7%
Positions opened / closed
21 / 19

Top buyers and sellers, Q2 2026: 65 institutions bought and 46 sold ; the biggest buyer was Blackrock, Inc (+553K shares) and the biggest seller Goldman Sachs Group Inc (−106K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $16.8M 2.8M 22.1% ▲ 25.0%
Vanguard Capital Management LLC $9.2M 1.5M 12.0% ▲ 8.4%
Raymond James Financial Inc $7.4M 1.2M 9.7% ▲ 1.2%
Geode Capital Management, LLC $5.6M 929K 7.4% ▲ 18.8%
State Street Corp $4.3M 709K 5.7% ▲ 12.3%
Themes Management Co LLC $3.2M 520K 4.2% ▲ 32.6%
Susquehanna International Group, LLP $3.1M 514K 4.1% ▲ 45.9%
UBS Group AG $2.5M 419K 3.3% ▲ 7.3%
Morgan Stanley $2.4M 388K 3.1% ▲ 100.4%
Millennium Management LLC $1.9M 311K 2.5% ▼ 12.2%
Northern Trust Corp $1.7M 286K 2.3% ▲ 21.1%
Marshall Wace, LLP $1.7M 282K 2.2% ▲ 195.8%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Palladyne AI Corp.'s complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $247,784 7 trades by 2 insiders, last 12 months Insider sales History → $805,657 16 trades by 4 insiders · 0% under pre-set plans
Net ▼ $557,873 net selling
Insider Date Trade Shares Price Value
Wolff Benjamin G PRESIDENT & CEO September 8, 2026 Buy 17,121 $5.79 $99,131
Garagic Denis CHIEF TECHNOLOGY OFFICER August 21, 2026 Sell 17,255 $6.16 $106,291
Sonne Stephen CHIEF LEGAL OFFICER August 21, 2026 Sell 5,341 $6.16 $32,901
Thatcher Trevor CHIEF FINANCIAL OFFICER August 21, 2026 Sell 4,636 $6.16 $28,558
Garagic Denis CHIEF TECHNOLOGY OFFICER May 21, 2026 Sell 17,176 $6.14 $105,461
Sonne Stephen CHIEF LEGAL OFFICER May 21, 2026 Sell 5,245 $6.14 $32,204
Thatcher Trevor CHIEF FINANCIAL OFFICER May 21, 2026 Sell 4,561 $6.14 $28,005
Garagic Denis CHIEF TECHNOLOGY OFFICER March 30, 2026 Sell 15,149 $5.55 $84,077
Sonne Stephen CHIEF LEGAL OFFICER March 30, 2026 Sell 3,471 $5.55 $19,264
Thatcher Trevor CHIEF FINANCIAL OFFICER March 30, 2026 Sell 3,030 $5.55 $16,816
Wolff Benjamin G PRESIDENT & CEO March 27, 2026 Buy 1,000 $5.85 $5,850
Garagic Denis CHIEF TECHNOLOGY OFFICER March 12, 2026 Sell 12,945 $7.55 $97,735

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

  • August 6, 2026
  • July 8, 2026
  • May 5, 2026
  • March 5, 2026
  • January 13, 2026
  • November 12, 2025

Recent SEC filings

Data status

When each part of this page on Palladyne AI Corp. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Palladyne AI Corp. in brief

What does Palladyne AI Corp. do?
Palladyne AI Corp. is a US-listed company in the application software industry. Its financial year ends in December.
What is Palladyne AI Corp.'s stock ticker?
Palladyne AI Corp. trades under the ticker PDYN on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Palladyne AI Corp.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Palladyne AI Corp. reported revenue of $11.8M, 171.8% higher than a year earlier, according to its SEC filings.
What is Palladyne AI Corp.'s free cash flow?
Palladyne AI Corp.'s free-cash-flow margin is -310.0% of revenue over the trailing twelve months, ranking 171 of the 180 application software companies we cover.
Who are Palladyne AI Corp.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and Raymond James Financial Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Palladyne AI Corp.'s market cap?
On November 2, 2026, Palladyne AI Corp.'s market capitalisation was about $151M and net debt of -$33.8M. Market figures come from third-party market data and may be delayed.
Who are Palladyne AI Corp.'s competitors?
In our Application Software peer group, the companies closest to Palladyne AI Corp. are Xiao-i Corp, Banzai International, Inc., Darkiris Inc., Netclass Technology Inc and Ryde Group Ltd. The side-by-side comparison below sets their revenue, margins and growth against Palladyne AI Corp.'s.
Are insiders buying or selling Palladyne AI Corp. stock?
Over the last 12 months, Palladyne AI Corp.'s directors and officers reported 7 open-market purchases and 16 sales on Form 4. The insider trading page charts every trade.
When is Palladyne AI Corp.'s next earnings date?
Around November 10, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Palladyne AI Corp. announces its own schedule.