Kodiak Sciences Inc (KOD) 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 Oct 12, 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 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the KOD SEC filings page.
This page shows Kodiak Sciences Inc (KOD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 10 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).
Research spending remains the core business activity, with losses consuming cash while external financing supports the balance sheet.
In FY2024 and FY2025, net losses of$176M and$230M exceeded operating cash outflows of$117M and$136M , while free cash flow stayed close to operating cash flow in both years. This indicates that ongoing operations, rather than capital spending, absorb most cash; investment spending is currently a smaller incremental use.
FY2025 financing cash flow of
The cost structure shifted toward development: research and development rose from
Financial Health Signals
Kodiak Sciences Inc does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Kodiak Sciences Inc passes 1 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
Kodiak Sciences Inc reported a net loss of $230.0M while operations used $136.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Kodiak Sciences Inc's EBITDA was -$62.7M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 23.2% from the same quarter a year earlier. Against the prior quarter it is down 12.7%.
Kodiak Sciences Inc reported -$65.6M in net income in Q2 2026. This represents a decrease of 20.9% from the same quarter a year earlier. Against the prior quarter it is down 12.9%.
Kodiak Sciences Inc earned -$1.05 per diluted share (EPS) in Q2 2026. This represents a decrease of 1.9% from the same quarter a year earlier. Against the prior quarter it is down 11.7%.
Not reported for Q2 2026.
Cash & Balance Sheet
Kodiak Sciences Inc recorded an outflow of $46.6M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 33.9% from the same quarter a year earlier. Against the prior quarter it is down 13.8%.
Kodiak Sciences Inc held $125.9M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Kodiak Sciences Inc's ROE was -107.4% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 30.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 55.6 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Kodiak Sciences Inc invested $56.1M in research and development in Q2 2026. This represents an increase of 31.2% from the same quarter a year earlier. Against the prior quarter it is up 15.5%.
Kodiak Sciences Inc invested $352K in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 164.7% from the same quarter a year earlier. Against the prior quarter it is down 62.6%.
Not reported for Q2 2026.
KOD 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 |
|---|---|---|---|---|---|---|---|---|
| R&D Expenses | $56.1M+31.2% | $48.5M+11.2% | N/A | $50.5M+58.3% | $42.8M+31.5% | $43.6M+45.8% | N/A | $31.9M-11.9% |
| SG&A Expenses | $10.8M-15.6% | $11.2M-27.2% | N/A | $11.9M-19.5% | $12.8M-17.6% | $15.4M-4.3% | N/A | $14.8M-19.4% |
| Operating Income | -$66.8M-20.4% | -$59.8M-1.2% | N/A | -$62.4M-33.7% | -$55.5M-15.7% | -$59.1M-28.3% | N/A | -$46.6M+14.4% |
| EBITDA | -$62.7M-23.2% | -$55.7M-2.2% | N/A | -$57.8M-37.7% | -$50.9M-17.6% | -$54.5M-31.7% | N/A | -$41.9M+15.3% |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $0-100.0% |
| Net Income | -$65.6M-20.9% | -$58.2M-1.2% | N/A | -$61.5M-39.8% | -$54.3M-20.4% | -$57.5M-33.5% | N/A | -$43.9M+12.1% |
| EPS (Basic) | -$1.05-1.9% | -$0.94+13.8% | -$1.04-23.8% | -$1.16-38.1% | -$1.03-19.8% | -$1.09-32.9% | -$0.84+25.7% | -$0.84+11.6% |
| EPS (Diluted) | -$1.05-1.9% | -$0.94+13.8% | -$1.04-23.8% | -$1.16-38.1% | -$1.03-19.8% | -$1.09-32.9% | -$0.84+25.7% | -$0.84+11.6% |
| Diluted Shares (Avg) | 63M+18.7% | 62M+17.3% | N/A | 53M+0.5% | 53M+0.4% | 53M+0.4% | N/A | 53M+0.3% |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Income Tax.
KOD 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 | $256.8M0.0% | $306.0M+2.7% | $351.5M+4.8% | $218.1M-41.5% | $256.7M-36.1% | $297.9M-31.5% | $335.6M-30.0% | $372.7M-32.0% |
| Current Assets | $131.4M+21.7% | $175.3M+22.8% | $214.8M+24.9% | $75.7M-62.6% | $107.9M-52.0% | $142.7M-43.3% | $171.9M-40.6% | $202.5M-42.3% |
| Cash & Equivalents | $125.9M+20.9% | $169.5M+22.1% | $209.9M+24.9% | $72.0M-63.6% | $104.2M-52.5% | $138.9M-43.5% | $168.1M-41.1% | $197.9M-42.8% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $195.7M+5.0% | $193.9M+2.6% | $194.2M+4.8% | $194.4M+3.8% | $186.4M-0.3% | $189.1M-2.3% | $185.3M-13.3% | $187.3M-23.6% |
| Current Liabilities | $52.8M+70.2% | $49.6M+60.6% | $45.5M+78.1% | $42.4M+76.3% | $31.0M+46.3% | $30.9M+24.2% | $25.6M-38.7% | $24.1M-66.0% |
| Non-Current Liabilities | $142.9M-8.0% | $144.3M-8.8% | $148.6M-6.9% | $151.9M-6.9% | $155.4M-6.3% | $158.2M-6.2% | $159.7M-7.1% | $163.2M-6.4% |
| Total Equity | $61.1M-13.1% | $112.1M+3.0% | $157.4M+4.7% | $23.7M-87.2% | $70.3M-67.2% | $108.8M-54.9% | $150.3M-43.5% | $185.4M-38.7% |
| Retained Earnings | -$1.7B-16.8% | -$1.6B-16.6% | -$1.6B-17.3% | -$1.5B-16.9% | -$1.4B-16.1% | -$1.4B-15.9% | -$1.3B-15.3% | -$1.3B-17.5% |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
KOD 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 | -$46.2M-33.4% | -$40.0M-37.6% | -$39.4M-31.0% | -$32.9M-55.4% | -$34.7M-30.9% | -$29.1M+26.6% | -$30.1M+6.7% | -$21.2M+35.4% |
| Depreciation & Amortization | $4.1M-10.5% | $4.1M-10.7% | $4.5M-1.8% | $4.6M-2.1% | $4.6M-2.2% | $4.6M-2.1% | $4.6M-2.1% | $4.7M-6.4% |
| Stock-Based Compensation | $11.6M-25.8% | $12.2M-23.5% | N/A | $14.0M-5.2% | $15.6M-14.9% | $15.9M-13.7% | N/A | $14.8M+6.2% |
| Capital Expenditures | $352K+164.7% | $942K+248.9% | $43K-65.3% | $60K-66.7% | $133K+171.4% | $270K+1127.3% | $124K-99.5% | $180K-20.4% |
| Free Cash Flow | -$46.6M-33.9% | -$41.0M-39.5% | -$39.4M-30.6% | -$32.9M-54.4% | -$34.8M-31.1% | -$29.3M+25.9% | -$30.2M+49.4% | -$21.3M+35.3% |
| Investing Cash Flow | -$352K-164.7% | -$942K-248.9% | -$43K+65.3% | -$60K+70.7% | -$133K+48.8% | -$270K-62.7% | -$124K+99.6% | -$205K+9.3% |
| Financing Cash Flow | $3.0M+2369.2% | $619K+399.2% | $177.2M+43772.5% | $813K | $120K+103.4% | $124K+226.3% | $404K+425.8% | $0+100.0% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
KOD 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 |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | -107.4%-30.2pp | -51.9%+0.9pp | N/A | -259.4%-235.7pp | -77.3%-56.2pp | -52.8%-35.0pp | N/A | -23.7%-7.2pp |
| Return on Assets | -25.6%-4.4pp | -19.0%+0.3pp | N/A | -28.2%-16.4pp | -21.2%-9.9pp | -19.3%-9.4pp | N/A | -11.8%-2.7pp |
| Current Ratio | 2.49-1.0x | 3.54-1.1x | 4.72-2.0x | 1.78-6.6x | 3.48-7.1x | 4.62-5.5x | 6.72-0.2x | 8.42+3.5x |
| Debt-to-Equity | 3.20+0.6x | 1.730.0x | 1.230.0x | 8.20+7.2x | 2.65+1.8x | 1.74+0.9x | 1.23+0.4x | 1.01+0.2x |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Asset Turnover, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Kodiak Sciences Inc KOD | FY2025 | N/A | -$230.0M | N/A | $6.2B | — |
| aTyr Pharma, Inc. ATYR | FY2025 | $190K | -$74.1M | N/A | $24.1M | — |
| Olema Pharmaceuticals, Inc. OLMA | FY2025 | N/A | -$162.5M | N/A | $684.2M | — |
| Opthea Limited American OPT | FY2025 | $25K | -$162.8M | N/A | $524.8M | — |
| Oruka Therapeutics, Inc. ORKA | FY2025 | N/A | -$105.4M | N/A | $5.4B | — |
Where Kodiak Sciences Inc Ranks
Frequently Asked Questions
Is Kodiak Sciences Inc profitable?
No, Kodiak Sciences Inc (KOD) reported a net income of -$230.0M in fiscal year 2025.
What is Kodiak Sciences Inc's EBITDA?
Kodiak Sciences Inc (KOD) had EBITDA of -$216.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Kodiak Sciences Inc's return on equity (ROE)?
Kodiak Sciences Inc (KOD) has a return on equity of -146.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Kodiak Sciences Inc's free cash flow?
Kodiak Sciences Inc (KOD) recorded an outflow of $136.5M in free cash flow during fiscal year 2025. This represents a -16.0% change compared to the previous fiscal year. 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 Sciences Inc's operating cash flow?
Kodiak Sciences Inc (KOD) recorded an outflow of $136.0M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Kodiak Sciences Inc's total assets?
Kodiak Sciences Inc (KOD) had $351.5M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Kodiak Sciences Inc's capital expenditures?
Kodiak Sciences Inc (KOD) invested $506K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Kodiak Sciences Inc spend on research and development?
Kodiak Sciences Inc (KOD) invested $182.4M in research and development during fiscal year 2025.
What is Kodiak Sciences Inc's current ratio?
Kodiak Sciences Inc (KOD) had a current ratio of 4.72 as of fiscal year 2025, which is generally considered healthy.
What is Kodiak Sciences Inc's debt-to-equity ratio?
Kodiak Sciences Inc (KOD) had a debt-to-equity ratio of 1.23 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Kodiak Sciences Inc's return on assets (ROA)?
Kodiak Sciences Inc (KOD) had a return on assets of -65.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Kodiak Sciences Inc's P/E ratio?
Kodiak Sciences Inc (KOD) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $6.2B as of Oct 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Kodiak Sciences Inc's price-to-sales ratio?
Kodiak Sciences Inc (KOD) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $6.2B as of Oct 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Kodiak Sciences Inc's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Kodiak Sciences Inc (KOD) held $209.9M in cash, cash equivalents and investments, and reported an operating cash outflow of $136.0M over that year. Dividing the one by the other, the reported balance equals about 19 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Kodiak Sciences Inc's Piotroski F-Score?
Kodiak Sciences Inc (KOD) has a Piotroski F-Score of 1 out of 6 computable signals; 3 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 Sciences Inc's earnings high quality?
Kodiak Sciences Inc (KOD) reported a net loss of $230.0M while operations used $136.0M 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.