PDYN Technology

Palladyne AI Corp.

$3.22-3.59%

Price as of close on Nov 3, 2026 · Financials updated Oct 10, 2026

Basics

Sector: Technology
Industry: Software - Infrastructure
Country: United States
Market cap: 158.9M USD
Enterprise value: 125.7M USD
Full-time employees: 161

Overall health

Strength: growing faster than most peersgrowing faster than peers
Strength: lower risk than most peers: more short-term liquiditylower risk: more liquidity
Drawback: less profitable than most peersless profitable than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: its share price swings more than most peers’ (beta 3.65 vs a peer median of 0.87)bigger price swings (beta 3.65 vs peers 0.87)

Ranks #1,056 of 1,612 technology companies (bottom 35%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 92% from December 2022 to July 2026.
Palladyne AI had 92% more shares at July 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Palladyne AI had 92% more shares at July 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.
Stock-based pay is a large cost. Stock pay was 85% of revenue in 2025.
Palladyne AI paid employees $4M in stock in 2025, 85% of its $5M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.
Growing fast, still losing money. Revenue grew faster than 95% of peers, at an operating loss, from a small base ($12M of revenue over 12 months).
Revenue grew faster than 95% of peers, but the business runs at an operating loss (margin -361%).
More volatile share price. Beta 3.65: tends to move more than the market.
Palladyne AI's shares have swung more with the market than most peers' (beta 3.65, above the market's 1.0).

StockQuotient Score

43/ 100

Oct 5 43 → Nov 4 43

Valuation

Is the price right?

10/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▼ Weaker

Share count up 4.4% (existing holders diluted)

Valuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ Earnings yield
▼ EBITDA yield
▼ FCF yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-19.0%

SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.00Sector median: 0.0225 · MAD: 0.0225

EBITDA yield-32.3%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsNegative (a loss or cash outflow), so it counts as zero whatever the share price50% base weight · Z-score -1.17Sector median: 0.0423 · MAD: 0.0361

Free cash flow yield-23.1%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score -1.00Sector median: 0.0274 · MAD: 0.0274

Other data (not scored)

Book yield44.6%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.3292 · MAD: 0.1754

Growth

Is it growing?

79/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 67.4%

Why

Stronger than most peers on:

▲ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

Still loss-making, but the loss per share narrowed33% base weight · Z-score 0.30Sector median: 0.1108 · MAD: 0.3050

3-year revenue growth-6.2%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score -1.39Sector median: 0.0483 · MAD: 0.0793

Revenue growth171.8%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 4.89Sector median: 0.0853 · MAD: 0.1017

Profitability

Does it earn well?

1/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Operating margin
▼ ROA
▼ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin-360.7%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score -7.12Sector median: 0.0631 · MAD: 0.0710

Return on assets-32.0%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score -3.92Sector median: 0.0293 · MAD: 0.0362

Return on invested capital-91.0%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score -4.27Sector median: 0.0676 · MAD: 0.0857

Other data (not scored)

Gross margin28.7%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.3343 · MAD: 0.1632

Return on equity-42.6%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.0753 · MAD: 0.0889

Risk

Debt, liquidity, price swings

Lower

Lower relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why it changed since the Oct 27, 2026 close: Safety percentile 83 → 82

Peer companies moved-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Stronger than most peers on:

▲ Current ratio
▲ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta3.65

Yahoo Finance · 5-year monthly beta vs the marketOutlier capped at sector 5th/95th percentile33% base weight · Z-score -3.51Sector median: 0.8710 · MAD: 0.3700

Current ratio6.30×

SEC filings · latest balance sheetReported value33% base weight · Z-score 6.53Sector median: 1.8295 · MAD: 0.6848

Debt / equity0.15×

Yahoo Finance fallback · no standard SEC debt tagReported value33% base weight · Z-score 0.44Sector median: 0.2495 · MAD: 0.2270

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Palladyne AI

Is Palladyne AI getting weaker?: Its latest SEC filing (Aug 6, 2026) got weaker in some ways: share count up 4.4%. Its overall score is unchanged at 43/100 since Oct 28, 2026.
How is Palladyne AI valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 10/100 against 1,711 technology peers. Earnings yield -19.0% vs a peer median of 2.2% (weaker than 100% of peers).Earnings yield -19.0% vs peers 2.2% (weaker than 100% of peers).
Is Palladyne AI growing?: Yes, faster than most of its peers. Growth scores 79/100 against 1,711 technology peers. Revenue growth 171.8% vs a peer median of 8.5% (stronger than 95% of peers).Revenue growth 171.8% vs peers 8.5% (stronger than 95% of peers). 3-year revenue growth -6.2% vs a peer median of 4.8% (weaker than 83% of peers).3-year revenue growth -6.2% vs peers 4.8% (weaker than 83% of peers).
How profitable is Palladyne AI?: Less profitable than most of its peers. Profitability scores 1/100 against 1,711 technology peers. Operating margin -360.7% vs a peer median of 6.3% (weaker than 100% of peers).Operating margin -360.7% vs peers 6.3% (weaker than 100% of peers).
How risky is Palladyne AI?: Lower risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Current ratio 6.30× vs a peer median of 1.83× (stronger than 93% of peers).Current ratio 6.30× vs peers 1.83× (stronger than 93% of peers). Beta 3.65 vs a peer median of 0.87 (weaker than 100% of peers).Beta 3.65 vs peers 0.87 (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 6, 2026 · compared with the quarter ended Mar 31, 2026

Got weaker

Share count up 4.4% (existing holders diluted)

Worth watching: Palladyne AI is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.

	Previous quarter	Latest quarter	Change
Revenue (12 months)	7.1M USD	11.8M USD	+67.4%
Net income (12 months)	−25.3M USD	−30.2M USD	+19.1%
Operating margin	-528.6%	-360.7%	+167.9 pts
Free cash flow (12 months)	−31.0M USD	−36.7M USD	+18.4%
Cash	17.9M USD	33.8M USD	+89.2%
Shares outstanding	47.2M	49.3M	+4.4%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Software - Infrastructure · 71 companies

Valuations in Software - Infrastructure are above their usual range since 2016.

61% of months since 2016 were valued lower than now.
22% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +19% and earnings +22% (medians): prices and earnings moved broadly together.
Median price-to-sales is +97% vs the whole market, against a usual +103%.

2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	23.8%	20.3%	18.0%	55.2%	48.7%	▼ 6.5 pts
Operating margin	-1595.9%	-1215.2%	-1968.0%	-345.8%	-617.7%	▼ 272 pts
Net margin	-1606.1%	-1078.5%	-1880.8%	-932.7%	191.4%	▲ >999 pts
Return on assets (ROA)	-34.6%	-93.7%	-191.3%	-129.1%	10.5%	▲ 140 pts
Return on equity (ROE)	-38.1%	-108.8%	-282.6%	—	13.4%	—
Free cash flow margin	-922.0%	-459.1%	-1259.4%	-294.0%	-540.4%	▼ 246 pts
Current ratio	37.06×	12.26×	5.33×	9.64×	9.28×	▼ 3.8%
Quick ratio	36.90×	11.92×	5.20×	9.62×	9.22×	▼ 4.2%
Debt to equity	—	0.00×	—	—	—	—

PDYN price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: growing faster than most peersgrowing faster than peers

Strength: lower risk than most peers: more short-term liquiditylower risk: more liquidity

Drawback: less profitable than most peersless profitable than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: its share price swings more than most peers’ (beta 3.65 vs a peer median of 0.87)bigger price swings (beta 3.65 vs peers 0.87)

Ranks #1,056 of 1,612 technology companies (bottom 35%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 92% from December 2022 to July 2026.

Palladyne AI had 92% more shares at July 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Palladyne AI had 92% more shares at July 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.

Stock-based pay is a large cost. Stock pay was 85% of revenue in 2025.

Palladyne AI paid employees $4M in stock in 2025, 85% of its $5M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.

Growing fast, still losing money. Revenue grew faster than 95% of peers, at an operating loss, from a small base ($12M of revenue over 12 months).

Revenue grew faster than 95% of peers, but the business runs at an operating loss (margin -361%).

More volatile share price. Beta 3.65: tends to move more than the market.

Palladyne AI's shares have swung more with the market than most peers' (beta 3.65, above the market's 1.0).

Questions investors ask about Palladyne AI

Is Palladyne AI getting weaker?

Its latest SEC filing (Aug 6, 2026) got weaker in some ways: share count up 4.4%. Its overall score is unchanged at 43/100 since Oct 28, 2026.

How is Palladyne AI valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 10/100 against 1,711 technology peers. Earnings yield -19.0% vs a peer median of 2.2% (weaker than 100% of peers).Earnings yield -19.0% vs peers 2.2% (weaker than 100% of peers).

Is Palladyne AI growing?

Yes, faster than most of its peers. Growth scores 79/100 against 1,711 technology peers. Revenue growth 171.8% vs a peer median of 8.5% (stronger than 95% of peers).Revenue growth 171.8% vs peers 8.5% (stronger than 95% of peers). 3-year revenue growth -6.2% vs a peer median of 4.8% (weaker than 83% of peers).3-year revenue growth -6.2% vs peers 4.8% (weaker than 83% of peers).

How profitable is Palladyne AI?

Less profitable than most of its peers. Profitability scores 1/100 against 1,711 technology peers. Operating margin -360.7% vs a peer median of 6.3% (weaker than 100% of peers).Operating margin -360.7% vs peers 6.3% (weaker than 100% of peers).

How risky is Palladyne AI?

Lower risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Current ratio 6.30× vs a peer median of 1.83× (stronger than 93% of peers).Current ratio 6.30× vs peers 1.83× (stronger than 93% of peers). Beta 3.65 vs a peer median of 0.87 (weaker than 100% of peers).Beta 3.65 vs peers 0.87 (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

7.1M USD

11.8M USD

+67.4%

Net income (12 months)

−25.3M USD

−30.2M USD

+19.1%

Operating margin

-528.6%

-360.7%

+167.9 pts

Free cash flow (12 months)

−31.0M USD

−36.7M USD

+18.4%

Cash

17.9M USD

33.8M USD

+89.2%

Shares outstanding

47.2M

49.3M

+4.4%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

23.8%

20.3%

18.0%

55.2%

48.7%

▼ 6.5 pts

Operating margin

-1595.9%

-1215.2%

-1968.0%

-345.8%

-617.7%

▼ 272 pts

Net margin

-1606.1%

-1078.5%

-1880.8%

-932.7%

191.4%

▲ >999 pts

Return on assets (ROA)

-34.6%

-93.7%

-191.3%

-129.1%

10.5%

▲ 140 pts

Return on equity (ROE)

-38.1%

-108.8%

-282.6%

—

13.4%

—

Free cash flow margin

-922.0%

-459.1%

-1259.4%

-294.0%

-540.4%

▼ 246 pts

Current ratio

37.06×

12.26×

5.33×

9.64×

9.28×

▼ 3.8%

Quick ratio

36.90×

11.92×

5.20×

9.62×

9.22×

▼ 4.2%

Debt to equity

—

0.00×

—