Palladyne AI Corp 2026年季度报告

(Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 For the quarterly period ended March 31, 2026OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 For the transition period from _______ to _______Commission File Number: 001-39897 Palladyne AI Corp.(Exact Name of Registrant as Specified in its Charter) 85-2838301(I.R.S. EmployerIdentification No.) Delaware(State or other jurisdiction ofincorporation or organization)650 South 500 West, Suite 150Salt Lake City, Utah(Address of principal executive offices) Registrant’s telephone number, including area code: (888) 927-7296 Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) hasbeen subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was requiredto submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and“emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer☐Non-accelerated filer☒Emerging growth company☒ Accelerated filer☐Smaller reporting company☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying 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☒ As of April 28, 2026 the registrant had 47,244,225 shares of Common Stock, $0.0001 par value per share, outstanding. Table of Contents PART I.FINANCIAL INFORMATIONItem 1.Financial Statements (Unaudited)5Condensed Consolidated Balance Sheets5Condensed Consolidated Statements of Operations6Condensed Consolidated Statements of Comprehensive Income (Loss)7Condensed Consolidated Statements of Stockholders' Equity (Deficit)8Condensed Consolidated Statements of Cash Flows9Notes to Unaudited Condensed Consolidated Financial Statements10Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations24Item 3.Quantitative and Qualitative Disclosures About Market Risk32Item 4.Controls and Procedures32PART II.OTHER INFORMATIONItem 1.Legal Proceedings33Item 1A.Risk Factors33Item 2.Unregistered Sales of Equity Securities and Use of Proceeds62Item 3.Defaults Upon Senior Securities62Item 4.Mine Safety Disclosures62Item 5.Other Information62Item 6.Exhibits63Signatures64 Summary Risk Factors. 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: 3•We are an early stage company with a history of losses, and expect to incur significant losses for the foreseeable future.•Our operating and financial projections rely on management assumptions and analyses. If these assumptions or analysesprove to be incorrect, as they often have in the past, our actual operating results may be materially different from ourexpected or forecasted results.•We have yet to achieve positive operating cash flow and our ability to generate positive cash flow is uncertain.•We have no or limited previous history or experience with commercializing our products and may not be able to do soefficiently, effectively or at all. We were unsuccessful in our efforts to commercialize our legacy hardware technologiesthat we and our predecessor companies developed over the past several decades.•Any issues in the development and use of our AI/ML Foundational Technology or AI-enabled products, or issues inproducts developed by others, may result in reputational harm or liability.•Our AI/ML Foundational Technology and other technologies and products are technologies and the timing and magnitudeof revenues from customers is uncertain. If we cannot successfully commercialize our technologies and products on ourexpected schedule, if our technology does not offer our potential customers the features, functionality and return oninvestment that they expect and/or if potential customers are not willing to pay for our products at the rates that wecurrently expect, our ability to generate material revenues will be mate