Palladyne AI Posts Record Q3 Revenue of $8.6M, Beats Estimates by 24% and Raises Full-Year Guidance

Palladyne AI Corp. reported record third-quarter 2026 revenue of $8.6 million, up 895% year over year and ahead of the $7.5 million analyst consensus by roughly 24%. The company raised its full-year 2026 revenue guidance to a range of $25.0 million to $27.0 million. Shares rose on the news.

The quarter's net loss widened to $12.01 million, with an EPS of negative $0.25, which matched analyst expectations. Non-cash items included $4.8 million in stock-based compensation and a $1.1 million warrant gain. The company signed $2.7 million in new contracts during the quarter and closed it with $47.0 million in cash. Total backlog stood at $18.7 million, down 24% quarter over quarter, with funded backlog at $15.3 million.

Key strategic milestones drove investor attention alongside the financial results. SwarmOS, Palladyne's autonomous software platform, received the highest rating possible on all nine evaluation criteria set by the U.S. Army. The company also announced a collaboration with FANUC, the industrial robotics giant with over 40 million products installed worldwide, secured a fixed-wing UAV partnership with Orkid Tech as its first of that type, and integrated SwarmOS with NORDA Dynamics' Underdog platform.