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Palladyne AI Corp. - STRC STOCK NEWS

Welcome to our dedicated page for Palladyne AI news (Ticker: STRC), a resource for investors and traders seeking the latest updates and insights on Palladyne AI stock.

Palladyne AI Corp. (STRC) delivers cutting-edge artificial intelligence solutions through advanced R&D in machine learning and automation. This dedicated news hub provides investors and industry professionals with verified updates directly from the company and trusted sources.

Access real-time announcements including earnings reports, product launches, and strategic partnerships. Our curated feed simplifies tracking of STRC's technological advancements and market positioning within the AI sector. Key updates span R&D milestones, executive leadership changes, and industry recognitions.

Bookmark this page for streamlined monitoring of Palladyne AI's developments in data analytics and enterprise AI integration. Check regularly for authoritative insights into how STRC continues shaping intelligent automation across industries.

News

Sarcos Robotics is Now Palladyne AI

Rhea-AI Summary
Sarcos Technology and Robotics rebrands to Palladyne AI Corp, focusing on AI software for robots to mimic human behavior. Ticker symbol changes to NASDAQ: PDYN. The company aims to enhance robot versatility, shorten training time, and reduce power consumption.
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Sarcos Welcomes Back Co-Founder and Former CEO Ben Wolff to Lead Company Following Pivot to Industrial AI Software Focus

Rhea-AI Summary
Sarcos Technology and Robotics Corporation announces the appointment of Ben Wolff as president and CEO, with Laura Peterson assuming the role of executive vice chairman. The company is pivoting to focus on commercializing and deploying its robotic AI and machine learning software platform, suspending the development of hardware products. The move aims to leverage the unique AI platform to enhance the productivity of industrial robots worldwide.
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Sarcos Technology and Robotics Corporation Announces Third Quarter 2023 Financial Results

Rhea-AI Summary
Sarcos Technology and Robotics Corporation (NASDAQ: STRC and STRCW) announced a pivot to focus on artificial intelligence (AI) and machine learning (ML) software business, bolstered by a $13.8 million contract from the U.S. Air Force. The company appointed Laura Peterson as President and CEO and announced plans to suspend hardware commercialization efforts, reduce headcount, and realign resources to concentrate on the AI/ML platform. Q3 2023 financial results showed a total revenue of $1.8 million, down from $4.7 million in Q3 2022, and a net loss of $29.0 million. Sarcos ended the quarter with $55.1 million in unrestricted cash, cash equivalents, and marketable securities.
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8.57%
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Sarcos Pivots to Robotics AI Software Near-Term Opportunity

Rhea-AI Summary
Sarcos Technology and Robotics Corporation (NASDAQ: STRC and STRCW) announced its pivot to focus on its robotic artificial intelligence (AI) and machine learning (ML) software platform, leveraging years of R&D and recent momentum from U.S. Department of Defense contract wins. The AI software platform aims to reduce robotic training times and increase agility, with a planned market launch in mid-2024.
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8.57%
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Sarcos Technology and Robotics Corporation to Report Third Quarter 2023 Financial Results

Rhea-AI Summary
Sarcos Technology and Robotics Corporation (NASDAQ: STRC and STRCW) will release its financial results for the quarter ended September 30, 2023, on November 14, 2023. A conference call and webcast will be held to discuss the results.
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Sarcos Announces Delivery of Guardian® Sea Class Robotic System to UK Supplier Atlantas Marine

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Sarcos fulfills order for Guardian Sea Class robotic systems from Atlantas Marine
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Sarcos Awarded $13.8 Million USD Contract by U.S. Air Force for Advancement of Its Artificial Intelligence and Machine Learning Software

Rhea-AI Summary
Sarcos Defense receives $13.8M contract to develop AI and ML software for Guardian line of robotic systems, aiming to enhance productivity and safety in job settings. Contract spans 4 years and includes Military Utility Assessments at various Air Force locations.
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Sarcos Technology and Robotics Corporation Announces Second Quarter 2023 Financial Results

Rhea-AI Summary
Sarcos Technology and Robotics Corporation announced financial results for Q2 2023. They optimized operations, formed a new Advanced Technologies software business division, and partnered with Blattner Company for an autonomous robotic solar construction system. They reduced their workforce by 25% and consolidated manufacturing facilities. Q2 2023 revenue was $1.3 million, operating expenses were $31.2 million, and gross margin was 26%. Net loss was $28.7 million. They ended the quarter with $75.1 million in cash.
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-10.06%
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Sarcos Technology and Robotics Corporation to Report Second Quarter 2023 Financial Results

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0.6%
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Sarcos Awarded Artificial Intelligence Contract by Air Force Research Laboratory

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15.17%
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Palladyne AI Corp.

Nasdaq:STRC

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STRC Stock Data

63.66M
13.30M
59.56%
14.96%
2.47%
Software - Infrastructure
Technology
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United States
Salt Lake City