Latest revenue
$1.8M
as of 2026-03-31
Latest net income
$26.5M
as of 2026-03-31
Net margin
1447.5%
as of 2026-03-31
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $1.43B
- Enterprise value
- $1.43B
- P/E (trailing)
- —
- Forward P/E
- —
- P/B
- —
- Dividend yield
- 0.0%
- 52-wk high
- $11.35
- 52-wk low
- $5.43
- Beta
- —
- Shares out
- 183.9M
5-year trend
dashed bar = fiscal Q4 derived from 10-K annual − Q1 − Q2 − Q3 (SEC requires only three 10-Qs per year).
What this company does
Kodiak AI builds self-driving software and hardware, called the Kodiak Driver, that retrofits trucks for autonomous operation in long-haul freight, industrial hauling, and defense applications. Revenue is minimal — $2.7 million for the first nine months of 2025 — coming from customer truck deployments and freight services, while operating losses exceed $73 million. The company just completed a reverse-merger SPAC listing, converting legacy preferred stock and SAFEs into common shares and boosting cash to $146 million to fund a still pre-commercial autonomy business.
Generated from KDK's filing dated 2025-03-12
Key risks
- Massive cash burn: $70.2M operating cash use and $511.8M nine-month net loss against just $2.7M revenue and $146.2M cash.
- Heavy dilution and overhang: SPAC merger triggered $123.3M warrant issuance loss, $84.2M Series A loss, and 6.25M sponsor earnout shares.
- Capital structure stress: $22.1M current debt, $10.4M second-lien loans (fair-valued up $23.9M), $223.2M redeemable Series A preferred outstanding.
Generated from KDK's filing dated 2025-03-12
Profitability
Operating margin
-2966.2%
1434.2%Net margin
-15420.7%
6263.4%Return on equity
206.9%
34.4%Return on assets
-367.3%
2818.6%Leverage
Debt / equity
-1.56×
94.0%Long-term debt / equity
-0.11×
86.8%Debt / assets
277.6%
166.9%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $1.8M | +24.4% | $26.5M | +785.1% | 1447.5% |
Q4 2025 2025-12-31 | — | — | $-318.9M | -256.7% | — |
Q3 2025 2025-09-30 | $770.0K | +92.5% | $-269.9M | -3975.7% | -35056.5% |
Q2 2025 2025-06-30 | — | — | $326.6K | -95.0% | — |
Q1 2025 2025-03-31 | $1.5M | — | $3.0M | -53.2% | 203.5% |
Q4 2024 2024-12-31 | — | — | $-89.4M | — | — |
Q3 2024 2024-09-30 | $400.0K | — | $7.0M | +8.8% | 1741.2% |
Q2 2024 2024-06-30 | — | — | $6.6M | +84.7% | — |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Services-Computer Integrated Systems Design · SIC 7373
Your notes
Keep private notes on KDK — thesis, target price, catalysts to watch.
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Insider activity
Insider buying
$0
Insider selling
$0
Net activity
+$0
Distinct insiders
0
Open-market trades over the last 365 days.
Recent transactions
| Date | Insider | Type | Shares | Price | Value |
|---|
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns KDK
Institutional value
$86.4M
Total shares held
12.5M
Distinct holders
26
-18 vs prior
As of
2026-03-31
Prior: 2025-12-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | ARK Investment Management LLC | 3.8M | $26.4M | +1.1M (+42.5%) | Added |
| 2 | BlackRock, Inc. | 1.8M | $12.5M | +33.3K (+1.9%) | Added |
| 3 | Sumitomo Mitsui Trust Group, Inc. | 1.7M | $11.6M | +888.5K (+112.5%) | Added |
| 4 | Nikko Asset Management Americas, Inc. | 1.7M | $11.6M | +888.5K (+112.5%) | Added |
| 5 | VANGUARD CAPITAL MANAGEMENT LLC | 1.2M | $8.2M | — | New |
| 6 | VANGUARD FIDUCIARY TRUST CO | 562.3K | $3.9M | — | New |
| 7 | UBS Group AG | 488.1K | $3.4M | -214.0K (-30.5%) | Trimmed |
| 8 | IQ EQ FUND MANAGEMENT (IRELAND) Ltd | 378.4K | $2.6M | +300.3K (+384.2%) | Added |
| 9 | JPMORGAN CHASE & CO | 305.2K | $2.0M | +267.8K (+716.9%) | Added |
| 10 | Mitsubishi UFJ Asset Management Co., Ltd. | 234.8K | $1.6M | -11.3K (-4.6%) | Trimmed |
| 11 | AlphaCentric Advisors LLC | 75.0K | $520.5K | +0 (+0.0%) | No change |
| 12 | Curated Wealth Partners LLC | 59.4K | $412.5K | +0 (+0.0%) | No change |
| 13 | Vanguard Global Advisers, LLC | 42.3K | $293.4K | — | New |
| 14 | CITIGROUP INC | 40.1K | $278.4K | — | New |
| 15 | Daiwa Securities Group Inc. | 33.9K | $235.3K | — | New |
| 16 | Bank of New York Mellon Corp | 25.8K | $178.9K | +15.2K (+143.5%) | Added |
| 17 | ENVESTNET ASSET MANAGEMENT INC | 24.0K | $166.6K | +11.9K (+98.0%) | Added |
| 18 | BNP PARIBAS FINANCIAL MARKETS | 19.2K | $133.1K | -2.2K (-10.4%) | Trimmed |
| 19 | Cannon Global Investment Management, LLC | 17.2K | $119.4K | — | New |
| 20 | GREAT VALLEY ADVISOR GROUP, INC. | 14.6K | $101.3K | -3.7K (-20.2%) | Trimmed |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
With $146M cash and $70M nine-month operating burn accelerating, when do you expect to need another raise, and on what terms?
- 2
Q3 revenue was just $770K while truck and freight opex tripled to $6.6M—what's the realistic path to driverless commercial revenue at scale?
- 3
Can you justify the $123M common stock warrant liability and $84M loss on Series A issuance—were deSPAC terms punitive to common holders?
Refreshed when KDK files a new report · last from 2025-03-12