Palladyne AI reported record third-quarter revenue of $8.6 million on Tuesday 10 November 2026, up 895% from $0.86 million a year earlier, and lifted the low end of its full-year guidance. The robotics software company beat the $7.54 million revenue analysts had expected by 23.7%, with sales also up 48% on the previous quarter.

The company posted a non-GAAP loss of $0.17 per share, narrower than the $0.24 loss analysts expected, according to AlphaStreet. On a GAAP basis the loss was $0.25 per share, against a $0.21 expected loss, Zacks reported. The quarterly net loss widened to $12.0 million from $3.7 million a year earlier, and the operating loss grew to $13.4 million from $8.1 million.

Guidance raised as backlog falls

Management guided full-year 2026 revenue to between $25.0 million and $27.0 million, implying growth of 377% to 415% over the $5.2 million reported in 2025. Total backlog fell 24% during the quarter to $18.7 million, of which $15.3 million is funded. Cash and marketable securities stood at $47.0 million, and operating cash burn is expected to come in at or slightly above the top of its $32 million to $36 million range.

The company pointed to its collaboration with FANUC America, the integration of its SwarmOS software with Anduril's Lattice platform, and a counter-drone project alongside Federal Ammunition and Mossberg.

Palladyne AI shares climbed as high as $4.21 during Tuesday's session before closing at $3.57. The company is still loss-making and its share count has grown, so the revenue surge has yet to translate into profit.