Kodiak AI, Inc.
For the period ended Dec 31, 2025. Filed Mar 11, 2026.
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FY2025 · Filed Mar 11, 2026
KDK$1.45+13.3%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
(In thousands, except par values)
| December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $50,761 | $16,709 |
| Marketable securities | 69,908 | — |
| Accounts receivable | 879 | 1,280 |
| Prepaid expenses and other current assets | 4,464 | 2,260 |
| Total current assets | 126,012 | 20,249 |
| Restricted cash | 1,450 | 1,450 |
| Property and equipment, net | 26,553 | 6,723 |
| Operating lease right-of-use assets | 5,261 | 7,115 |
| Other assets | 131 | 24 |
| Total assets | $159,407 | $35,561 |
| Liabilities, redeemable convertible preferred stock and stockholders’ deficit | ||
| Current liabilities: | ||
| Accounts payable | $1,455 | $1,372 |
| Accrued expenses and other current liabilities | 11,354 | 11,416 |
| Operating lease liabilities, current | 1,916 | 1,638 |
| Debt, current portion | 1,065 | 16,792 |
| Second lien loans | 10,872 | — |
| Total current liabilities | 26,662 | 31,218 |
| Debt, net of current portion | 29,878 | 17,574 |
| Simple agreements for future equity | — | 59,301 |
| Operating lease liabilities, noncurrent | 3,584 | 5,723 |
| Common stock warrants | 158,346 | — |
| Redeemable convertible preferred stock warrant liabilities | — | 1,619 |
| Other liabilities | 804 | 313 |
| Total liabilities | 219,274 | 115,748 |
| Commitments and contingencies (Note 10) | ||
| Redeemable convertible preferred stock | ||
| Series A cumulative redeemable convertible preferred stock, par value $0.0001; 20,000 and no shares authorized as of December 31, 2025 and December 31, 2024, respectively; 142 and no shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | 223,185 | — |
| Redeemable convertible preferred stock, par value $0.0001; no and 98,127 shares authorized as of December 31, 2025 and December 31, 2024, respectively; no and 62,240 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | — | 170,648 |
| Stockholders’ deficit | ||
| Common stock, $0.0001 par value; 1,980,000 and 265,000 shares authorized as of December 31, 2025 and December 31, 2024, respectively; 175,4401 and 58,057 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | 17 | 6 |
| Additional paid-in capital | 570,578 | 17,303 |
| Accumulated other comprehensive income | 22 | — |
|---|---|---|
| Accumulated deficit | (853,669) | (268,144) |
| Total stockholders’ deficit | (283,052) | (250,835) |
| Total liabilities, redeemable convertible preferred stock and stockholders’ deficit | $159,407 | $35,561 |
| ________________________ | ||
| 1 Excludes 6,250,000 shares legally issued and outstanding related to sponsor earn out securities (see Note 3). | ||
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