Every 10-Q that Ares Acquisition Corporation II (AACT) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow AACT and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full AACT filings page.
Kodiak AI, Inc. reported first‑quarter 2026 revenue of $1.8 million, up from $1.5 million a year earlier, as its Driver‑as‑a‑Service model ramped and U.S. Army work declined. The company posted net income of $26.5 million versus a $128.2 million loss, driven largely by a $64.7 million non‑cash gain from remeasuring common stock warrant liabilities and the absence of prior‑year SAFE fair value losses.
Operating performance remains deeply negative: loss from operations widened to $37.9 million as research and development, general and administrative, and truck and freight costs nearly doubled while the business scaled. Non‑GAAP loss from operations, excluding $6.0 million of stock‑based compensation, was $31.8 million.
Kodiak ended March 31, 2026 with $90.2 million in cash, cash equivalents and marketable securities, plus short‑term debt of $12.3 million and a total accumulated deficit of $827.2 million. Management expects continued losses and has raised approximately $100.0 million in a May 2026 private placement, but still projects its cash runway, including that capital, only into the second quarter of 2027 and plans to seek further financing.
Kodiak AI, Inc. filed its Q3 2025 10‑Q reporting a significantly larger loss driven by financing and fair‑value items tied to its public listing. Revenue was $770 thousand, while operating expenses were $30.7 million, leading to a loss from operations of $29.97 million. After recognizing non‑operating charges — including losses on issuance of Series A preferred, common stock and warrants, and fair‑value changes on second‑lien loans and prior SAFEs — net loss reached $269.9 million for the quarter.
Cash and cash equivalents increased to $146.2 million as of September 30, 2025, supported by $145.0 million of Series A cumulative redeemable convertible preferred stock and proceeds from the reverse recapitalization with Ares Acquisition Corporation II. The company reported common stock warrants of $123.3 million as a liability and disclosed large Level 3 warrant and loan fair‑value measurements. Management states that recurring losses and expected cash needs raise substantial doubt about the company’s ability to continue as a going concern.
Ares Acquisition Corporation II (AACT) reported $558,149,739 held in a Trust Account and $137,896 in cash outside the trust as of June 30, 2025. The company recorded $3.32 million of net income for the six months ended June 30, 2025, driven by investment income from the Trust, but incurred elevated general and administrative expenses of $8.21 million over the same six-month period, resulting in an accumulated deficit of $24.07 million on the balance sheet.
The company obtained shareholder approval to extend its Combination Period to January 26, 2026, entered into a Business Combination Agreement with Kodiak Robotics, Inc., and secured subscription commitments for an aggregate $60.0 million PIPE. Sponsor activity during the period included deposits of $2.96 million to the Trust, the issuance of an Extension Note and a Working Capital Loan (with $1.23 million outstanding). Management disclosed substantial doubt about going concern due to a working capital deficit of $9.33 million and limited cash outside the Trust, while relying on expected Sponsor or affiliate financing and closure of the Proposed Business Combination.