Palladyne AI Corp.
For the period ended Dec 31, 2025. Filed Mar 5, 2026.
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FY2025 · Filed Mar 5, 2026
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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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
| Year Ended December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities: | ||
| Net income (loss) | $10,039 | $(72,617) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
| Stock-based compensation | 4,447 | 2,805 |
| Depreciation of property and equipment | 974 | 825 |
| Amortization of intangible assets | 118 | — |
| Change in fair value of warrant liabilities | (37,740) | 46,935 |
| Allowance for credit losses | — | 285 |
| Amortization of investment discount | (1,386) | (75) |
| Deferred income tax benefit | (2,541) | — |
| Changes in operating assets and liabilities, net of acquisitions: | ||
| Accounts receivable | 1,096 | 136 |
| Unbilled receivable | (960) | 855 |
| Inventories | 58 | 994 |
| Prepaid expenses and other current assets | (132) | 1,048 |
| Operating lease assets & other non-current assets | 1,005 | 1,242 |
| Accounts payable | (708) | (819) |
| Accrued liabilities and current operating lease liabilities | (904) | (3,164) |
| Operating lease liabilities | (1,003) | (1,077) |
| Net cash used in operating activities | (27,637) | (22,627) |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (713) | (265) |
| Acquisition of a business, net of cash acquired | (5,302) | — |
| Purchases of marketable securities | (75,563) | (8,859) |
| Maturities of marketable securities | 57,000 | 16,000 |
| Net cash (used in) provided by investing activities | (24,578) | 6,876 |
| Cash flows from financing activities: | ||
| Proceeds from exercise of stock options | 74 | 130 |
| Proceeds from issuance of common stock under ESPP | 148 | — |
| Proceeds from the exercise of warrants | 6,419 | — |
| Shares repurchased for payment of tax withholdings | — | (105) |
| Payment of obligations under finance leases | (20) | (3) |
| Payment of debt obligations | (3,696) | — |
| Proceeds from the issuance of warrants | — | 4,432 |
| Proceeds from issuance of common stock | 36,371 | 20,028 |
| Payment of transaction costs related to issuance of common stock | (50) | (682) |
| Net cash provided by financing activities | 39,246 | 23,800 |
| Net (decrease) increase in cash and cash equivalents | (12,969) | 8,049 |
| Cash and cash equivalents at beginning of period | 31,188 | 23,139 |
| Cash and cash equivalents at end of period | $18,219 | $31,188 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for income taxes | $2 | $10 |
| Supplemental disclosure of non-cash activities: | ||
| Purchases of property and equipment financed through notes payable | $113 | $— |
| Common stock issued in connection with a business acquisition | $15,872 | $— |
| Warrant liabilities reclassified to equity upon exercise | $10,883 | $— |
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