Kodiak AI, Inc. (KDK) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 11, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 7, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the KDK SEC filings page.
Kodiak AI, Inc. (KDK) reported $3.8M in revenue for fiscal year 2025. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 3 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Development-stage spending and cash consumption dominate Kodiak AI’s profile as its balance sheet shifts into negative equity.
The earnings-to-cash gap is unusually wide: a net loss of-$585.5M versus operating cash flow of-$94.4M indicates that reported earnings included substantial effects that did not move through operating cash in the same period. Capital intensity added pressure, with$22.0M of capital spending pushing free cash flow to-$116.5M .
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Equity moved from
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Kodiak AI, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Kodiak AI, Inc.'s reported operating margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 1/100.
Not available for Kodiak AI, Inc., and counted as zero in the overall score.
With a current ratio of 4.73, Kodiak AI, Inc. holds $4.73 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 91/100.
Kodiak AI, Inc.'s reported free cash flow margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 1/100.
Kodiak AI, Inc. scores -8.04, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($750.3M) relative to total liabilities ($442.5M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Kodiak AI, Inc. passes 1 of 5 computable financial strength tests (4 of the nine could not be computed from available data). 1 of 3 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
Kodiak AI, Inc. reported a net loss of $585.5M while operations used $94.4M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Kodiak AI, Inc. reported an operating loss of $112.6M against $4.1M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Kodiak AI, Inc. generated $3.5M in revenue in Q2 2026. This represents an increase of 595.6% from the same quarter a year earlier.
Kodiak AI, Inc.'s EBITDA was -$42.1M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 70.7% from the same quarter a year earlier.
Kodiak AI, Inc. reported $12.5M in net income in Q2 2026. This represents an increase of 111.0% from the same quarter a year earlier. Against the prior quarter it is down 52.9%.
Kodiak AI, Inc. earned -$0.50 per diluted share (EPS) in Q2 2026. This represents an increase of 73.5% from the same quarter a year earlier.
Cash & Balance Sheet
Kodiak AI, Inc. held $46.8M in cash against $29.5M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Not reported for Q2 2026.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is above 100.0% of revenue, so it does not read as a share of revenue.
Not reported for Q2 2026.
Capital Allocation
Kodiak AI, Inc. invested $22.7M in research and development in Q2 2026. This represents an increase of 85.8% from the same quarter a year earlier.
Not reported for Q2 2026.
Not reported for Q2 2026.
KDK Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.5M+595.6% | N/A | N/A | $770K+92.5% | $503K | N/A | N/A | $400K |
| R&D Expenses | $22.7M+85.8% | N/A | N/A | $13.5M+29.0% | $12.2M | N/A | N/A | $10.4M |
| SG&A Expenses | $12.4M+73.7% | N/A | N/A | $9.2M+78.2% | $7.2M+1817.7% | N/A | N/A | $5.1M+1241.1% |
| Operating Income | -$43.7M-72.3% | N/A | -$38.7M-309.2% | -$30.0M-64.6% | -$25.3M-6687.8% | N/A | -$9.5M | -$18.2M-4642.5% |
| EBITDA | -$42.1M-70.7% | N/A | N/A | -$29.1M-70.9% | -$24.6M | N/A | N/A | -$17.0M |
| Interest Expense | $909K-21.6% | N/A | N/A | $941K-22.8% | $1.2M | N/A | N/A | $1.2M |
| Income Tax | $14K+366.7% | N/A | N/A | $0 | $3K | N/A | N/A | $0 |
| Net Income | $12.5M+111.0% | $26.5M+120.7% | N/A | -$269.9M-1310.0% | -$113.7M-533.0% | -$128.2M-612.2% | N/A | -$19.1M-399.1% |
| EPS (Basic) | -$0.20+89.4% | N/A | $1.71+784.0% | -$3.89-1078.8% | -$1.89 | N/A | -$0.25 | -$0.33 |
| EPS (Diluted) | -$0.50+73.5% | N/A | $1.71+784.0% | -$3.89-1078.8% | -$1.89 | N/A | -$0.25 | -$0.33 |
| Diluted Shares (Avg) | 193M+221.0% | N/A | N/A | 69M+18.8% | 60M | N/A | N/A | 58M |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit.
KDK Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $194.4M-65.3% | N/A | $159.4M | $177.8M-67.4% | $561.0M+4.2% | $557.2M+4.7% | N/A | $545.7M+5.2% |
| Current Assets | $156.5M+5434.7% | N/A | $126.0M | $151.8M+10461.7% | $2.8M+59.9% | $748K-64.6% | N/A | $1.4M-50.3% |
| Cash & Equivalents | $46.8M+130.9% | N/A | $50.8M+179.5% | $146.2M+340.5% | $20.2M+1349.7% | N/A | $18.2M | $33.2M+1372.3% |
| Short-Term Investments | $104.3M | N/A | $69.9M | $0 | $0 | N/A | $0 | $0 |
| Accounts Receivable | $512K | N/A | $879K | $706K | N/A | N/A | N/A | N/A |
| Long-Term Investments | $0 | N/A | $0 | $0 | $0 | N/A | $0 | $0 |
| Total Liabilities | $383.3M-63.4% | N/A | $442.5M | $397.3M-49.3% | $1.0B+38.0% | $933.9M+26.9% | N/A | $783.9M+45.6% |
| Current Liabilities | $28.3M+132.5% | N/A | $26.7M | $34.7M+5942.2% | $12.2M+2536.5% | $3.1M+616.6% | N/A | $574K+77.8% |
| Non-Current Liabilities | $355.0M-65.7% | N/A | $415.8M | $362.7M-53.7% | $1.0B+36.5% | $930.8M+26.5% | N/A | $783.3M+45.6% |
| Long-Term Debt | $29.5M+489.2% | N/A | $29.9M | $11.1M+121.7% | $5.0M0.0% | $5.0M0.0% | N/A | $5.0M0.0% |
| Total Equity | -$188.9M+61.2% | -$245.9M+34.7% | -$283.1M-12.8% | -$219.5M+7.8% | -$486.9M-120.6% | -$376.6M-84.7% | -$250.8M-149.9% | -$238.2M-1100.9% |
| Retained Earnings | -$814.7M-3284.2% | N/A | -$853.7M | -$780.0M-3521.6% | -$24.1M-14.1% | -$24.7M-19.4% | N/A | -$21.5M-8.6% |
Not reported in any period shown, so not listed: Inventory, Goodwill.
KDK Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | N/A | N/A | N/A | -$33.4M+6.6% | N/A | N/A | N/A | -$35.7M-13802.4% |
| Depreciation & Amortization | $1.6M+128.6% | N/A | N/A | $900K-25.0% | $700K | N/A | N/A | $1.2M |
| Stock-Based Compensation | $6.4M+111.7% | N/A | N/A | $5.2M+205.3% | $3.0M | N/A | N/A | $1.7M |
| Capital Expenditures | N/A | N/A | N/A | $6.6M | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | -$40.0M | N/A | N/A | N/A | N/A |
| Investing Cash Flow | N/A | N/A | N/A | -$6.6M-759.6% | N/A | N/A | N/A | -$773K |
| Financing Cash Flow | N/A | N/A | N/A | $166.0M+291.1% | N/A | N/A | N/A | $42.4M+449126.5% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
KDK Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | -1248.3% | N/A | N/A | -3892.1% | -5039.2% | N/A | N/A | -4552.0% |
| Net Margin | 356.6% | N/A | N/A | -35056.5% | -22609.5% | N/A | N/A | -4786.0% |
| Return on Assets | 6.4%+26.7pp | N/A | N/A | -151.8%-148.3pp | -20.3%-16.9pp | -23.0%-19.6pp | N/A | -3.5%-4.7pp |
| Current Ratio | 5.54+5.3x | N/A | 4.73 | 4.38+1.9x | 0.23-3.6x | 0.24-4.7x | N/A | 2.51-6.5x |
| Asset Turnover | 0.020.0x | N/A | N/A | 0.000.0x | 0.00 | N/A | N/A | 0.00 |
| FCF Margin | N/A | N/A | N/A | -5194.7% | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Gross Margin, Return on Equity, Debt-to-Equity.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Note: Shareholder equity is negative (-$283.1M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Where Kodiak AI, Inc. Ranks
Frequently Asked Questions
What is Kodiak AI, Inc.'s annual revenue?
Kodiak AI, Inc. (KDK) reported $3.8M in total revenue for fiscal year 2025. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Is Kodiak AI, Inc. profitable?
No, Kodiak AI, Inc. (KDK) reported a net income of -$585.5M in fiscal year 2025.
What is Kodiak AI, Inc.'s EBITDA?
Kodiak AI, Inc. (KDK) had EBITDA of -$109.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Kodiak AI, Inc. have?
As of fiscal year 2025, Kodiak AI, Inc. (KDK) had $50.8M in cash and equivalents against $29.9M in long-term debt.
What is Kodiak AI, Inc.'s free cash flow?
Kodiak AI, Inc. (KDK) recorded an outflow of $116.5M in free cash flow during fiscal year 2025. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Kodiak AI, Inc.'s operating cash flow?
Kodiak AI, Inc. (KDK) recorded an outflow of $94.4M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Kodiak AI, Inc.'s total assets?
Kodiak AI, Inc. (KDK) had $159.4M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Kodiak AI, Inc.'s capital expenditures?
Kodiak AI, Inc. (KDK) invested $22.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Kodiak AI, Inc. spend on research and development?
Kodiak AI, Inc. (KDK) invested $50.2M in research and development during fiscal year 2025.
What is Kodiak AI, Inc.'s current ratio?
Kodiak AI, Inc. (KDK) had a current ratio of 4.73 as of fiscal year 2025, which is generally considered healthy.
What is Kodiak AI, Inc.'s return on assets (ROA)?
Kodiak AI, Inc. (KDK) had a return on assets of -367.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Kodiak AI, Inc.'s P/E ratio?
Kodiak AI, Inc. (KDK) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $750.3M as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Kodiak AI, Inc.'s price-to-sales ratio?
Kodiak AI, Inc. (KDK) trades at 198x sales, its market capitalization divided by revenue of $3.8M revenue, FY2025. The market capitalization is $750.3M as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Why is Kodiak AI, Inc.'s debt-to-equity ratio negative or not reported?
Kodiak AI, Inc. (KDK) has negative shareholder equity of -$283.1M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Kodiak AI, Inc.'s Altman Z-Score?
Kodiak AI, Inc. (KDK) has an Altman Z-Score of -8.04, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Kodiak AI, Inc.'s Piotroski F-Score?
Kodiak AI, Inc. (KDK) has a Piotroski F-Score of 1 out of 5 computable signals; 4 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Kodiak AI, Inc.'s earnings high quality?
Kodiak AI, Inc. (KDK) reported a net loss of $585.5M while operations used $94.4M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Kodiak AI, Inc. cover its interest payments?
Kodiak AI, Inc. (KDK) reported an operating loss of $112.6M against $4.1M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Kodiak AI, Inc.?
Kodiak AI, Inc. (KDK) scores 34 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.