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10-Q: Q2 2024 Earnings Report

10-Q: Q2 2024 Earnings Report

10-Q:2024财年二季报
美股SEC公告 ·  2024/08/08 04:43

Moomoo AI 已提取核心信息

Palladyne AI Corp. reported Q2 2024 revenue of $2.7 million, a 112% increase from $1.3 million in Q2 2023, driven primarily by progress on product development contracts. Operating expenses decreased 73% to $8.5 million from $31.2 million year-over-year, reflecting significant cost reductions from workforce restructuring initiatives.The company continues to advance its AI/ML Software Platform development, with the minimal viable product version of Palladyne IQ now in customer evaluation and trials. The first customer trial began in June 2024, with another trial recently initiated at a major automotive manufacturer. Commercial launch is expected in the second half of 2024.As of June 30, 2024, Palladyne AI had $25.8 million in cash and cash equivalents, compared to $39.1 million at year-end 2023. Management believes current liquidity is sufficient to fund operations for at least the next 12 months as the company focuses on commercializing its AI/ML software products, with revenue generation expected to begin in 2025.
Palladyne AI Corp. reported Q2 2024 revenue of $2.7 million, a 112% increase from $1.3 million in Q2 2023, driven primarily by progress on product development contracts. Operating expenses decreased 73% to $8.5 million from $31.2 million year-over-year, reflecting significant cost reductions from workforce restructuring initiatives.The company continues to advance its AI/ML Software Platform development, with the minimal viable product version of Palladyne IQ now in customer evaluation and trials. The first customer trial began in June 2024, with another trial recently initiated at a major automotive manufacturer. Commercial launch is expected in the second half of 2024.As of June 30, 2024, Palladyne AI had $25.8 million in cash and cash equivalents, compared to $39.1 million at year-end 2023. Management believes current liquidity is sufficient to fund operations for at least the next 12 months as the company focuses on commercializing its AI/ML software products, with revenue generation expected to begin in 2025.
Palladyne 人工智能 CORP. 报告了2024年第二季度营业收入为270万美元,比2023年第二季度的130万美元增长了112%,主要受到产品开发合同进展的驱动。营业费用同比减少73%,降至850万美元,从3120万美元减少,反映出通过重组工作队伍计划显著降低了成本。公司继续推进其人工智能/机器学习 软件平台开发,目前Palladyne IQ的最小可行产品版本正在客户评估和试用中。第一个客户试用于2024年6月开始,最近又在一家主要汽车制造商处启动了另一个试用。预计将在2024年下半年正式发布。截至2024年6月30日,Palladyne 人工智能持有现金及现金等价物2580万美元,而2023年底为3910万美元。管理层认为,当前流动性足以支持运营至少12个月,因为公司专注于商业化其人工智能/机器学习软件产品,预计收入将在2025年开始产生。
Palladyne 人工智能 CORP. 报告了2024年第二季度营业收入为270万美元,比2023年第二季度的130万美元增长了112%,主要受到产品开发合同进展的驱动。营业费用同比减少73%,降至850万美元,从3120万美元减少,反映出通过重组工作队伍计划显著降低了成本。公司继续推进其人工智能/机器学习 软件平台开发,目前Palladyne IQ的最小可行产品版本正在客户评估和试用中。第一个客户试用于2024年6月开始,最近又在一家主要汽车制造商处启动了另一个试用。预计将在2024年下半年正式发布。截至2024年6月30日,Palladyne 人工智能持有现金及现金等价物2580万美元,而2023年底为3910万美元。管理层认为,当前流动性足以支持运营至少12个月,因为公司专注于商业化其人工智能/机器学习软件产品,预计收入将在2025年开始产生。
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