Q4 2025 Palladyne AI Corp Earnings Call Transcript
Key Points
- Palladyne AI Corp (PDYN) reiterated its 2026 revenue guidance of $24 million to $27 million, which is 4 to 5 times its 2025 revenue.
- The company's backlog increased from $13.5 million at the end of 2025 to nearly $18 million midway through the first quarter of 2026.
- Palladyne AI Corp successfully demonstrated a cross-platform coordinated swarm using IntelliSwarm on Gremlin-X and SwarmOS on Red Cat drones.
- The company secured a contract for a missile propulsion subsystem from a major defense prime customer, validating its propulsion, engineering, and manufacturing capabilities.
- Palladyne AI Corp expanded its AI-related patent portfolio and submitted applications for four new patents related to its AI products and technologies.
- Operating loss for the fourth quarter of 2025 was $9.3 million, compared to $6.5 million in the prior year period.
- The company reported a GAAP net loss for the fourth quarter of $1.5 million or $0.04 per share.
- Palladyne AI Corp's research and development expenses increased to $3.8 million from $2.6 million last year, reflecting continued investment in autonomy software and product development.
- General and administrative expenses rose to $4.7 million from $3.5 million in the prior year period, due to acquisition-related costs and increased scope of G&A functions.
- The company expects 2026 consolidated quarterly operating cash usage of approximately $8 million to $9 million, reflecting ongoing investments and incremental headcount costs.
Greetings, and welcome to the Palladyne AI fourth quarter and year-end 2025 Earnings Call. (Operator Instructions) As a reminder, this conference is being recorded. I would now like to turn the call over to your host, Brian Siegel, Investor Relations. Thank you. You may begin.
Good morning, and welcome to Palladyne AI's fourth quarter and full year 2025 earnings conference call. Joining me on the call today are Ben Wolff, President and Chief Executive Officer; and Trevor Thatcher, Chief Financial Officer.
Earlier this morning, Palladyne AI issued a press release announcing its financial results for the fourth quarter and full year ended December 31, 2025, along with updated commentary regarding backlog and it's reiterated 2026 revenue guidance. A copy of that release, along with the accompanying financial tables is available on the Investor Relations section of Palladyne's website. Today's call will include prepared remarks from Ben and Trevor, followed by a question-and-answer session.
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