Kodiak AI, Inc. KDK
On September 24, 2025 (the "Closing Date" or "Closing"), Kodiak Robotics, Inc. ("Legacy Kodiak") and Ares Acquisition Corporation II ("AACT") consummated the merger transaction (the "Merger") as contemplated by a definitive business combination agreement (the "BCA") and AACT changed its name to Kodiak AI, Inc. Our common stock is listed on the Nasdaq under the symbol "KDK," and our warrants to purchase shares of common stock are listed on the Nasdaq under the symbol "KDKRW."
Kodiak is a leading provider of physical AI, with a focus on AI-powered autonomous vehicle ("AV") technology, that is designed to help tackle some of the toughest driving jobs. Our driverless solution can help address the critical problem of safely transporting goods in the face of unprecedented supply chain challenges. We believe that driverless trucks can enhance road safety, improve truck utilization, reduce costs, expand margins for fleet owners, alleviate supply chain pressures and create better jobs for truck drivers.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $3.8M | $14.9M | $16.9M | — | — |
| R&D | $50.2M | $43.4M | $39.5M | — | — |
| SG&A | $36.7M | $21.0M | $20.3M | $3.5K | — |
| Total operating expenses | $116.4M | $76.7M | $70.8M | — | — |
| Operating income | -$112.6M | -$61.7M | -$53.8M | -$3.5K | — |
| Interest expense | $4.1M | $5.0M | $5.4M | — | — |
| Pre-tax income | -$585.5M | -$69.5M | -$56.9M | — | — |
| Income tax | $3.0K | $1.0K | $9.0K | — | — |
| Net income | -$585.5M | -$69.5M | -$56.9M | -$3.5K | — |
| EPS, basic | -6.42 | -1.19 | -0.98 | — | — |
| EPS, diluted | -6.42 | -1.19 | -0.98 | — | — |
| Shares, diluted (wtd. avg.) | 91.2M | 58.4M | 57.9M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Cash and equivalents | $50.8M | $16.7M | $27.8M | $43.7M | $0 |
| Short-term investments | $69.9M | $0 | — | — | — |
| Receivables | $879.0K | $1.3M | — | — | — |
| Total current assets | $126.0M | $20.2M | $2.4M | $1.2K | — |
| Property, plant and equipment | $26.6M | $6.7M | — | — | — |
| Total assets | $159.4M | $35.6M | $525.5M | $512.6K | — |
| Accounts payable | $1.5M | $1.4M | — | — | — |
| Short-term debt | $11.9M | — | — | — | — |
| Total current liabilities | $26.7M | $31.2M | $279.1K | $503.6K | — |
| Long-term debt | $29.9M | $17.6M | $5.0M | $0 | — |
| Total liabilities | $219.3M | $115.7M | $22.8M | $503.6K | — |
| Retained earnings | -$853.7M | -$268.1M | -$20.3M | -$16.0K | — |
| Total equity | -$283.1M | -$250.8M | -$187.1M | -$135.1M | $12.5K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Operating cash flow | -$94.4M | -$51.0M | -$43.8M | $0 | — |
| Depreciation and amortisation | $3.2M | $4.6M | $4.1M | — | — |
| Stock-based compensation | $19.1M | $5.5M | $5.4M | — | — |
| Capital expenditure | $22.0M | $3.2M | $3.3M | — | — |
| Investing cash flow | -$91.4M | -$3.2M | $17.3M | $0 | — |
| Financing cash flow | $219.9M | $43.1M | $12.0M | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-016910.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue | — | — | $16.9M | $14.9M | $3.8M |
| Gross profit | — | — | — | — | — |
| Net income | — | -$3.5K | -$56.9M | -$69.5M | -$585.5M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Results announced Item 2.02
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Material agreement signed Item 1.01
- Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Results announced Item 2.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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