Kodiak AI, Inc.
For the period ended Mar 31, 2026. Filed May 8, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 8, 2026
KDK$1.21-16.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
(In thousands; unaudited)
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Operating activities: | ||
| Net income (loss) | $26,490 | $(128,185) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
| Depreciation and amortization | 1,412 | 532 |
| Stock-based compensation | 6,024 | 1,878 |
| Non-cash lease expense | 499 | 447 |
| Accretion of discount on marketable securities | (358) | — |
| Change in fair value of second lien loans | 474 | — |
| Change in fair value of simple agreements for future equity | — | 108,375 |
| Change in fair value of redeemable convertible preferred stock warrant liabilities | — | 115 |
| Change in fair value of common stock warrants | (64,658) | — |
| Non-cash interest expense | 109 | 228 |
| Loss on disposal of property and equipment | 85 | 130 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 379 | 1,057 |
| Prepaid expenses and other current assets | 575 | 133 |
| Other assets | 7 | — |
| Accounts payable | 556 | 1,387 |
| Accrued expenses and other current liabilities | (766) | (2,149) |
| Operating lease liabilities | (514) | (444) |
| Other liabilities | 192 | (10) |
| Net cash used in operating activities | (29,494) | (16,506) |
| Investing activities: | ||
| Proceeds from maturities of marketable securities | 45,000 | — |
| Purchases of property and equipment | (5,531) | (2,320) |
| Net cash provided by (used in) investing activities | 39,469 | (2,320) |
| Financing activities: | ||
| Repayment of debt | (364) | (2,249) |
| Proceeds from issuance of simple agreements for future equity | — | 21,660 |
| Proceeds from exercise of stock options | 985 | 383 |
| Proceeds from exercise of common stock warrants | 3,593 | — |
| Payments for deferred offering costs | — | (10) |
| Net cash provided by financing activities | 4,214 | 19,784 |
| Net change in cash and cash equivalents and restricted cash | 14,189 | 958 |
| Cash and cash equivalents and restricted cash at beginning of period | 52,211 | 18,159 |
| Cash and cash equivalents and restricted cash at end of period | $66,400 | $19,117 |
| Components of cash and restricted cash at period end: | ||
| Cash and cash equivalents | $64,950 | $17,667 |
| Restricted cash included in prepaid and other current assets | 600 | — |
| Restricted cash | 850 | 1,450 |
| Total cash and cash equivalents and restricted cash | $66,400 | $19,117 |
| Supplemental disclosure of cash activities: | ||
| Cash paid for interest | $798 | $1,039 |
| Supplemental disclosure of non-cash activities: | ||
| Purchases of property and equipment included in accounts payable and accrued expenses and other current liabilities | $585 | $833 |
| Proceeds from exercise of stock options included in prepaid and other current assets | $1 | $125 |
| Deferred offering costs related to reverse recapitalization included in accrued liabilities | $— | $160 |
| Unrealized losses on marketable securities | $(24) | $— |
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