Palladyne AI Corp.
For the period ended Sep 30, 2025. Filed Nov 12, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 12, 2025
PDYN$3.57+0.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
(in thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities: | ||
| Net income (loss) | $11,532 | $(19,648) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
| Stock-based compensation | 3,346 | 2,227 |
| Depreciation of property and equipment | 658 | 612 |
| Change in fair value of warrant liabilities | (33,110) | 175 |
| Amortization of investment discount | (1,065) | (56) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (192) | (63) |
| Unbilled receivable | (640) | 455 |
| Inventories | (5) | 1,065 |
| Prepaid expenses and other current assets | 129 | 1,150 |
| Operating lease assets & other non-current assets | 925 | 891 |
| Accounts payable | 130 | (1,076) |
| Accrued liabilities and current operating lease liabilities | (100) | (2,420) |
| Operating lease liabilities | (740) | (843) |
| Net cash used in operating activities | (19,132) | (17,531) |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (477) | (217) |
| Purchases of marketable securities | (56,828) | — |
| Maturities of marketable securities | 37,000 | 16,000 |
| Net cash (used in) provided by investing activities | (20,305) | 15,783 |
| Cash flows from financing activities: | ||
| Proceeds from exercise of stock options | 65 | 24 |
| Proceeds from issuance of common stock under ESPP | 76 | — |
| Proceeds from the exercise of warrants | 6,419 | — |
| Shares repurchased for payment of tax withholdings | — | (84) |
| Payment of obligations under capital leases | — | (3) |
| Proceeds from issuance of common stock | 29,100 | — |
| Payment of transaction costs related to issuance of common stock | (50) | — |
| Net cash provided by (used in) financing activities | 35,610 | (63) |
| Net decrease in cash and cash equivalents | (3,827) | (1,811) |
| Cash and cash equivalents at beginning of period | 31,188 | 23,139 |
| Cash and cash equivalents at end of period | $27,361 | $21,328 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for income taxes | $— | $10 |
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
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