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SALT LAKE CITY - Palladyne AI Corp. (NASDAQ:PDYN), a $335 million market cap AI software developer with impressive gross profit margins of 68%, has received additional funding from the U.S. Air Force under its existing contract with the Air Logistics Complex at Warner Robins Air Force Base in Georgia, according to a company press release. According to InvestingPro data, the company maintains a strong financial position with cash reserves exceeding its debt obligations.
The AI software developer recently completed Military Utility Assessment milestones that included performing autonomous engineered media blasting on complex aircraft components and automated sanding at height using commercial robotic systems. The company’s stock has shown remarkable momentum, delivering a 386% return over the past year, though InvestingPro analysis indicates high price volatility.
These milestones are part of a multi-million-dollar Phase II contract with the U.S. Air Force to validate the company’s Palladyne IQ closed-loop autonomy software for aircraft component remediation activities. The contract is in its second year of a potential four-year effort resulting from Palladyne AI’s selection in the Air Force’s Strategic Funding Increase program.
Key achievements included demonstrating autonomous media blasting using Palladyne IQ software on a Fanuc M710 robot with seven degrees of freedom and control along a linear rail. The company also completed teleoperated and autonomous sanding using a Universal Robots UR10e robot paired with a compliant end effector and Palladyne IQ software.
"These recent Military Utility Assessment milestones, combined with the additional funding we have received for the project, demonstrate not only the technical feasibility but also the operational value of our AI software," said Ben Wolff, President and CEO of Palladyne AI.
The amount of additional funding was not disclosed in the press release. The successful completion of the first milestones of the contract was announced in October 2024.
In other recent news, Palladyne AI Corp. has been included in the Russell 3000 Index, following the 2025 Russell indexes annual reconstitution. This inclusion highlights Palladyne AI’s growth in market capitalization and is expected to increase its visibility among institutional investors. Additionally, Palladyne AI announced the approval of equity awards for its employees, with a total of 601,587 shares granted under its incentive plans. These grants aim to align employee interests with those of shareholders and serve as a retention incentive. The equity awards include inducement awards for new hires, featuring options to purchase shares and restricted stock units that vest over four years. Palladyne AI’s advanced AI and machine learning software for robotics is designed to enhance robotic capabilities across various industries. The company’s technology focuses on enabling robots to autonomously adapt to environmental changes, reducing the need for extensive programming. These developments are based on press release statements from Palladyne AI.
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