Palladyne AI Corp 2025年季度报告

ORTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF Commission File Number:001-39897 Palladyne AI Corp.(Exact Name of Registrant as Specified in its Charter) Non-accelerated filer☒Smaller reporting companyEmerging growth company☒ complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒ FINANCIAL INFORMATIONFinancial Statements (Unaudited)Condensed Consolidated Balance Sheets Condensed Consolidated Statements of OperationsCondensed Consolidated Statements of Comprehensive Income (Loss) Condensed Consolidated Statements of Stockholders' Equity (Deficit)Condensed Consolidated Statements of Cash FlowsNotes to Unaudited Condensed Consolidated Financial Statements Quantitative and Qualitative Disclosures About Market RiskControls and Procedures OTHER INFORMATIONLegal Proceedings Unregistered Sales of Equity Securities and Use of ProceedsDefaults Upon Senior Securities Other InformationExhibits 2 Our business is subject to numerous risks and uncertainties, including those highlighted in Part II, Item 1A Risk Factors of thisReport. The following is a summary of the principal risks we face:•We are an early stage company with a history of losses, and expect to incur significant losses for the foreseeable future. revenue could be delayed.•Our anticipated revenues are expected to be primarily derived from the licensing of our AI/ML software products for theforeseeable future. developed by others, may result in reputational harm or liability. revenues from customers is uncertain. If we cannot successfully commercialize our AI/ML Foundational Technology andrelated products on our expected schedule, if our technology does not offer our potential customers the features, products at the license rates that we currently expect, our ability to generate material revenues will be materially impaired.•If we are not able to generate material revenues from our software products before we exhaust our financial resources, we •We may fail to attract or retain customers at sufficient rates or in sufficient numbers or at all.•We have no previous history with our licensing sales model. inaccurate. dependent on our suppliers, some of which are currently single, sole or limited source suppliers. Any inability of thesesuppliers to deliver necessary components of our products at prices, volumes, performance, timing and specificationsacceptable to us, could have a material adverse effect on our business, prospects, financial condition and operating results. Our products may not be competitive with other alternatives.•We may not be able to successfully enhance our product offerings through our research and development efforts. related products, failure of our software products to perform as expected, connectivity issues or user errors can result inlower than expected return on investment for customers, personal injury or property damage and significant security or safety concerns, each of which could materially and adversely affect our results of operations, financial condition orreputation.•We use "open source" software, which could negatively affect our ability to offer our AI/ML Foundational Technologyand related products and subject us to possible litigation. •We may be unable to adequately control the costs associated with our operations in order to achieve profitability. Change in unrealized gain on available-for-sale investments Common StockAdditionalAccumulatedOtherTotalClass APaid-InComprehensiveAccumulatedStockholders’SharesAmountCapitalIncome (Loss)DeficitEquity Stock-based compensationCommon stock issued under equity award 697,967——Shares repurchased for payment of tax Other comprehensive loss———(4)—————(7,229)Balance at March 31, 202426,552,572$3$459,642$(1)$(425,443)$ SharesAmountCapitalIncome (Loss)DeficitEquity(Deficit) Common stock issued under equity award492,815———— Balance at March 31, 2025See accompanying notes to the condensed consolidated financial statements. 8 (Unaudited)(in thousands)Three Months Ended March 31, Unbilled receivable(592)Inventories(2)Prepaid expenses and other current assets(342)Operating lease assets & other non-current assets355Accounts payable(162) Purchases of property and equipment(93)Purchases of marketable securities(27,452)Maturities of marketable securities—Net cash (used in) provided by investing activities Payment of obligations under capital leases—Proceeds from issuance of common stock13,983Payment of transaction costs related to issuance of common stock(50)Net cash provided by (used in) financing activities13,933Net (decrease) increase in cash and cash equivalents(21,128)Cash and cash equivalents at beginning of period31,188 1. Basis of Presentation and Summary of Significant Accounting PoliciesDescription of the BusinessThe Company's fu