Tuesday, 02 January 2024 12:17 GMT

Palladyne AI CEO Touts Expanded Backlog, Deeper Defense Engagement After Q4 Beat Sends PDYN Stock Soaring


(MENAFN- AsiaNet News)

Palladyne AI Corp. (PDYN) CEO Ben Wolff on Thursday touted the company's expanded backlog and deeper defense engagement after its fourth-quarter (Q4) results surpassed Wall Street expectations.

“2025 was a year of operational validation that culminated in structural transformation. In November, we completed the acquisitions of GuideTech, Warnke Precision Machining, and MKR Fabricators and launched Palladyne Defense,” Wolff said.

Palladyne AI shares soared more than 35% in Thursday's pre-market trade. Retail sentiment on Stocktwits around the company trended in the 'bullish' territory at the time of writing.

Palladyne AI reported a loss of $0.04 per share, down from a loss of $1.75 per share during the same quarter a year ago, and better than Wall Street's expectations of a loss of $0.14 per share, according to Fiscal data.

The company's revenue in Q4 stood at $1.7 million, more than double the $0.8 million in the year-ago period. Wall Street consensus had also projected a revenue of $0.8 million.

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