Palladyne AI reports preliminary Q2 revenue $5.8M, consensus $4.62M

Backlog of approximately $24M as of June 30, 2026, up from $17.3M as of March 31. Gross new contracts added during the quarter of approximately $12.5M; Cash, cash equivalents and marketable securities of approximately $44M as of June 30, roughly flat compared to March 31. Ben Wolff, CEO, commented: "The second quarter was another quarter where we delivered on our stated plan. Revenue grew substantially again, both year over year and sequentially vs Q1, and we continued to win new business across all of our operations. Our plan for this year has been straightforward from the start. We had spent years building the underlying autonomy technology. With the acquisitions we completed in November, we became a vertically integrated, autonomy-based defense technology company, with the engineering, manufacturing and program capability that laid the groundwork for what we announced on June 8. That announcement, our partnership with Israel Aerospace Industries, the largest Israeli defense company and pioneer of the loitering munition category more than 40 years ago, was a major step forward for us. This partnership gives us exclusive U.S. rights to a family of combat-proven systems, the.