$5.760
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Noticias de PDYN
Eventos de PDYN
Palladyne AI Collaborates with Orkid Tech to Develop Drone Systems
Palladyne AI and Orkid Tech announced a collaboration to integrate its Palladyne Pilot and SwarmOS autonomy software with Orkid's fixed-wing UAV platform. The companies intend to develop integrated drone systems for the U.S. Department of War and commercial industrial markets, including oil & gas, power, wildfire management, and public safety, extending Palladyne AI's Pilot and SwarmOS platform into a new class of aircraft and adding a fixed-wing growth vector to its addressable market.
Palladyne AI Appoints Maj. Gen. Mark Clark to Advisory Board
Palladyne AI announced the appointment of Maj. Gen. Mark "Droopy" Clark, USMC, to its Defense Advisory Board. Clark's command of Marine Corps Forces Special Operations Command and his prior service as Director of Operations and Chief of Staff at U.S. Special Operations Command give Palladyne AI direct line of sight into how MARSOC and the broader special operations community define, evaluate, and field new technology.
Palladyne AI Successfully Demonstrates SwarmOS Platform at U.S. Army Project
Palladyne AI announced the successful performance of its SwarmOS platform and Gremlin-X unmanned, reusable mini-bomber at Project Convergence Capstone 6, the U.S. Army's culminating division-scale force-on-force modernization event. PC-C6 marked the second time in less than three months that SwarmOS delivered multi-drone, multi-vendor autonomous operations under demanding, operationally realistic battlefield conditions. "Ivy Mass was the rehearsal, and PC-C6 was the main event," said Doug Dynes, President of Palladyne Aerospace & Defense. "SwarmOS delivered in both environments, enabling aircraft from multiple manufacturers to find targets, share information, adapt to battlefield changes, and coordinate precision effects while a soldier retained authority over the decision to engage."
Company Reports Q2 Revenue of $5.8M with $13M in New Contracts
Reports Q2 revenue $5.8M vs. $1.0M last year. "The headline this quarter is the $13M of new contract awards, and it is why we are comfortable reiterating guidance for the year. Backlog stands at nearly $25M even after we recognized a record quarter of revenue, and it remains the number I watch most closely because it is the foundation the next several quarters are built on. From a product standpoint, the milestone was executing Ivy Mass and hitting every objective we set for it. Ivy Mass was the first in a series of 4th Infantry Division exercises we were competitively selected for under the Army's Disruptive Applications program. Financially, every part of the business grew this quarter. Our operating cash burn1 ran higher than last quarter. That increase reflects two things: we are still early in scaling revenue against our cost base, and we made deliberate investments ahead of that ramp. We made some one-time capital expenditures, added business development and program management headcount in our Aerospace and Defense division to pursue and support Department of War work, and brought on additional engineers to support existing contracts and advance programs, including Gremlin-X. Those are costs we are taking on against contracts we can already see, and we expect quarterly cash usage to come down as revenue and margins ramp through the second half."
Reiterates 2026 Expected Operating Cash Burn of $32.0M-$36.0M
Reiterates 2026 expected operating cash burn of ($32.0M)-($36.0M, or ($8.0M)-($9.0M) per quarter, on average.
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