Palladyne AI Corp. (PDYN) Income Statement
PDYN 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsPDYN revenue and net income
Where PDYN's revenue goes
2025Each bar shows an amount and its share of revenue. PDYN kept 191.4% of revenue as net income.
PDYN profit margins
PDYN growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −32.6% | −28.9% | −9.9% | — |
| Gross profit | −40.5% | −4.7% | −4.5% | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
PDYN quarterly EPS vs estimates
Palladyne AI beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 11, 2026 (estimate $-0.21).
PDYN income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | $5.2M | $7.8M | $6.1M | $14.6M | $5.1M | $8.8M | $10.2M |
| Cost of revenue | $2.7M | $3.5M | $5.0M | $11.6M | $3.9M | $5.6M | $5.7M |
| Gross profit | $2.6M | $4.3M | $1.1M | $3.0M | $1.2M | $3.2M | $4.4M |
| Research & development | $12.9M | $10.4M | $39.0M | $34.1M | $17.5M | $14.1M | $12.9M |
| Sales, general & admin | $21.9M | $21.0M | $42.3M | $73.4M | $64.7M | $10.1M | $9.8M |
| Total operating expenses | $35.0M | $31.2M | $122.1M | $180.0M | $82.2M | $24.2M | $22.7M |
| Operating income | −$32.4M | −$26.9M | −$121.0M | −$177.0M | −$81.0M | −$21.0M | −$18.3M |
| Interest income | $1.9M | $1.2M | $3.3M | $1.8M | — | — | — |
| Interest expense | — | — | — | $1.8M | $34,000 | $74,000 | $0 |
| Income before taxes | $7.5M | −$72.6M | −$115.6M | −$161.0M | −$81.5M | −$20.9M | −$18.0M |
| Income taxes | −$2.5M | $5,000 | $7,000 | −$3.9M | $1,000 | $1,000 | $1,000 |
| Net income | $10.0M | −$72.6M | −$115.6M | −$157.1M | −$81.5M | −$20.9M | −$18.0M |
| EBITDA | $8.6M | −$26.3M | −$78.6M | −$103.2M | −$80.9M | −$20.5M | −$18.1M |
| EPS (diluted) | $0.22 | −$2.71 | −$3.71 | −$2.16 | −$0.73 | −$1.21 | — |
| Gross margin | 48.7% | 55.2% | 18.0% | 20.3% | 23.8% | 36.4% | 43.4% |
| Operating margin | −617.7% | −345.8% | −1,968.0% | −1,215.2% | −1,595.9% | −238.3% | −180.8% |
| Net margin | 191.4% | −932.7% | −1,880.8% | −1,078.5% | −1,606.1% | −237.4% | −177.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.8M | $3.5M | $1.7M | $860,000 | $1.0M | $1.7M | $761,000 | $871,000 | $2.7M | $3.4M | $746,000 | $1.8M |
| Cost of revenue | $4.1M | $2.5M | $1.4M | $461,000 | $474,000 | $353,000 | $554,000 | $479,000 | $569,000 | $1.9M | $1.1M | $1.2M |
| Gross profit | $1.7M | $1.1M | $259,000 | $399,000 | $541,000 | $1.4M | $207,000 | $392,000 | $2.1M | $1.6M | −$344,000 | $605,000 |
| Research & development | $4.3M | $3.9M | $3.8M | $3.1M | $3.1M | $2.9M | $2.6M | $2.6M | $2.3M | $2.9M | $7.9M | $10.0M |
| Sales, general & admin | $10.4M | $8.7M | $5.7M | $5.3M | $5.5M | $5.4M | $4.1M | $4.0M | $5.7M | $5.9M | $6.8M | $9.3M |
| Total operating expenses | $15.1M | $13.0M | $9.6M | $8.5M | $8.6M | $8.3M | $6.7M | $7.7M | $7.9M | $8.9M | $36.7M | $31.4M |
| Operating income | −$13.4M | −$11.9M | −$9.3M | −$8.1M | −$8.1M | −$6.9M | −$6.5M | −$7.3M | −$5.8M | −$7.4M | −$37.1M | −$30.8M |
| Interest income | $262,000 | $325,000 | $432,000 | $566,000 | $505,000 | $442,000 | $277,000 | $249,000 | $346,000 | $372,000 | $515,000 | $806,000 |
| Income before taxes | −$12.3M | −$12.6M | −$4.0M | −$3.7M | −$7.5M | $22.8M | −$53.0M | −$7.1M | −$5.3M | −$7.2M | −$36.5M | −$29.0M |
| Income taxes | — | — | −$2.5M | — | — | — | $2,000 | $3,000 | — | $157,724 | $4,000 | $10.3M |
| Net income | −$12.3M | −$12.6M | −$1.5M | −$3.7M | −$7.5M | $22.8M | −$53.0M | −$7.1M | −$5.3M | −$7.2M | −$36.5M | −$29.0M |
| EBITDA | −$11.6M | −$11.9M | −$3.6M | −$3.5M | −$7.3M | $23.0M | −$52.8M | −$7.3M | −$5.7M | −$7.1M | −$14.8M | −$18.3M |
| EPS (diluted) | −$0.27 | −$0.23 | −$0.04 | −$0.09 | −$0.20 | $0.55 | −$1.96 | −$0.27 | −$0.20 | −$0.28 | −$1.41 | −$0.66 |
| Gross margin | 29.1% | 30.1% | 15.6% | 46.4% | 53.3% | 79.4% | 27.2% | 45.0% | 79.0% | 45.2% | −46.1% | 33.1% |
| Operating margin | −231.9% | −336.9% | −560.7% | −937.8% | −797.4% | −405.3% | −852.0% | −838.0% | −213.3% | −213.7% | −4,967.2% | −1,683.3% |
| Net margin | −213.1% | −356.4% | −89.9% | −434.9% | −737.6% | 1,330.9% | −6,960.4% | −814.7% | −196.2% | −210.1% | −4,889.5% | −1,586.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in PDYN's financial statements (latest annual report filed March 5, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
PDYN financial results
In fiscal year 2025 (ended December 31, 2025), Palladyne AI reported revenue of $5.2 million, down 32.6% from the year before. It had net income of $10.0 million, a net profit margin of 191.4%. Diluted earnings per share came to $0.22. Over five years revenue grew at an average rate of −9.9% a year.
See the PDYN stock overview for the latest quote and news, or the PDYN chart for price history and technical indicators.
PDYN income statement FAQ
What is Palladyne AI's annual revenue?
Palladyne AI reported total revenue of $5.2 million for fiscal year 2025, which ended on December 31, 2025. That was down 32.6% from $7.8 million the previous year.
Is Palladyne AI profitable?
Yes. Palladyne AI reported net income of $10.0 million in fiscal 2025, a net profit margin of 191.4%; its operating margin was −617.7%.
What is Palladyne AI's gross margin?
Palladyne AI's gross margin was 48.7% in fiscal 2025: for every $100 of revenue, Palladyne AI kept $49 after the direct cost of its products and services.
How much does Palladyne AI spend on research and development?
Palladyne AI spent $12.9 million on research and development in fiscal 2025, 245.9% of revenue.
How fast is Palladyne AI growing?
Revenue grew −9.9% a year on average over the last five fiscal years, from $8.8 million to $5.2 million.
What are Palladyne AI's earnings per share?
Palladyne AI earned $0.22 per diluted share in fiscal 2025, compared with $-2.71 a year earlier.
When will Palladyne AI report its next earnings?
Palladyne AI is expected to report results for the quarter ending September 30, 2026 on November 11, 2026 before the market opens.
When does Palladyne AI's fiscal year end?
Palladyne AI's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 5, 2026.