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KDKRW

Kodiak AI, Inc. Warrants

KDKRW

Kodiak AI, Inc. Warrants • NASDAQ
$1.20 ▲ 0.00% (+0.00)
Market Cap $74.23 M
52w High $1.20
52w Low $1.17
Dividend Yield 0%
P/E 0
Volume 5.25K
Outstanding Shares 61.86M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $770K ▲ $29.839M ▲ $-269.935M ▼ -35.056K% ▼ $-3.89 ▼ $-268.094M ▼
Q2-2025 $503K ▼ $25.85M ▲ $-113.726M ▲ -22.61K% ▼ $0.005 ▲ $-111.848M ▲
Q1-2025 $1.471M ▲ $20.07M ▲ $-128.185M ▼ -8.714K% ▼ $0 $-126.388M ▼
Q2-2024 $405K ▼ $17.413M ▼ $-17.965M ▲ -4.436K% ▼ $0 $-15.543M ▼
Q1-2024 $422K $17.465M $-17.998M -4.265K% $0 $-15.44M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $146.203M ▲ $177.839M ▲ $174.157M ▼ $3.682M ▲
Q2-2025 $20.249M ▲ $54.666M ▲ $541.585M ▲ $-486.919M ▼
Q1-2025 $17.667M $37.21M $413.844M $-376.634M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-269.935M ▼ $-68.146M ▼ $-17.544M ▼ $216.021M ▲ $146.065M ▲ $-80.027M ▼
Q2-2025 $-113.726M ▲ $-20.356M ▼ $-2.916M ▼ $25.854M ▲ $2.582M ▲ $-23.272M ▼
Q1-2025 $-128.185M ▼ $-16.506M ▼ $-2.32M ▼ $19.784M ▲ $958K ▲ $-18.826M ▼
Q2-2024 $-17.965M ▲ $-11.627M ▼ $-524K ▼ $7.495M ▲ $-4.656M ▲ $-12.151M ▼
Q1-2024 $-17.998M $-9.01M $-107K $-533K $-9.65M $-9.117M

Five-Year Company Overview

Income Statement

Income Statement Kodiak AI looks like a very early‑stage, research‑heavy business. Revenue is essentially negligible, while operating and net losses are meaningful and have slightly increased year over year. Most of the income statement is driven by development, engineering, and overhead rather than scale revenue. The economic story today is about spending to build and prove the technology, not about generating profits or even meaningful sales yet, so earnings remain clearly in the red with no visible sign of break‑even in the historical figures.

Balance Sheet

Balance Sheet The balance sheet is thin and reflects a small, loss‑making company. Assets are modest and largely made up of cash and equivalents, while debt is similar in size to the asset base. Equity is negative, which means accumulated losses and obligations exceed the company’s net assets. This structure signals a financially fragile position where the company depends heavily on continued support from lenders and investors, and has limited room to absorb major setbacks without raising additional capital or restructuring its finances.

Cash Flow

Cash Flow Cash flow from operations is consistently negative, showing that the core business is consuming cash rather than generating it. Free cash flow is also negative, but there is little in the way of capital spending, which fits an asset‑light, software‑ and service‑oriented model. In practice, this means most cash use is for people, R&D, and commercialization, not for factories or heavy equipment. The key watchpoint is whether operational cash burn narrows over time as commercial deployments scale, or whether ongoing investment needs keep cash flows deeply negative and require repeated external funding.

Competitive Edge

Competitive Edge Competitively, Kodiak sits in a promising but highly contested niche: autonomous long‑haul trucking. Its strengths include a clear focus on the highway “middle mile,” a retrofit‑friendly product, modular sensor pods that simplify maintenance, and a business model that aims to sell autonomy as a service rather than run its own fleet. Early commercial deployments, industrial customers, and a sizable U.S. Army contract provide valuable proof points and relationships. However, the company faces intense competition from larger, better‑funded autonomy players, substantial regulatory and safety scrutiny, long commercialization timelines, and dependence on a relatively small set of key partners and use cases. Execution, trust, and scale will largely determine how defensible its position becomes.

Innovation and R&D

Innovation and R&D Innovation is the clear standout. Kodiak is pushing advanced AI for perception and decision‑making, including vision‑language models to handle unusual edge cases, and uses a heavy simulations‑first approach to accelerate testing. Its design emphasizes redundancy and safety in critical systems, along with lightweight mapping that aims to be more flexible than traditional high‑definition map approaches. The company is building an integrated ecosystem—hardware, software, monitoring tools, and a route network—while also tailoring its technology for both commercial freight and military applications. The flip side is that such ambitious R&D is expensive and long‑dated, so maintaining technical leadership without overstraining its already tight financial base is a key uncertainty.

Summary

Overall, Kodiak AI is a classic high‑innovation, early‑commercialization story: technologically ambitious, with credible partners and initial real‑world deployments, but financially small, loss‑making, and dependent on external capital. The technology and business model—autonomy delivered as a service, focused on long‑haul trucking and dual‑use defense applications—offer clear strategic logic and potential scale. At the same time, the financials show limited revenue, ongoing losses, negative equity, and steady cash burn, all in a sector that may require significant time and investment before reaching maturity. For the warrants tied to this business, future value will hinge on Kodiak’s ability to safely scale driverless operations, deepen and diversify its customer base, and move its financial profile from experimental to sustainable over the coming years amid intense competition and regulatory oversight.