Kodiak AI, Inc.
For the period ended Sep 30, 2026. Filed Nov 6, 2026.
View on SEC.govAbout this filing
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.
Sep 30, 2026 · Filed Nov 6, 2026
KDK$1.21-16.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Operating activities: | ||
| Net (loss) income | $66,381 | $(511,846) |
| Adjustments to reconcile net (loss) income to net cash used in operating activities: | ||
| Depreciation and amortization | 4,949 | 2,124 |
| Stock-based compensation | 21,229 | 10,136 |
| Non-cash lease expense | 1,588 | 1,372 |
| Accretion of discount on marketable securities | (1,057) | — |
| Transaction costs allocated to common stock warrants | 1,984 | 3,223 |
| Change in fair value of second lien loans | 1,760 | 23,938 |
| Change in fair value of simple agreements for future equity | — | 190,075 |
| Change in fair value of redeemable convertible preferred stock warrant liabilities | — | 7,272 |
| Change in fair value of common stock warrants | (201,151) | — |
| Loss on issuance of equity instruments | — | 210,722 |
| Non-cash interest expense | 346 | 641 |
| (Gain) loss on disposal of property and equipment, net | (88) | 130 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 602 | 574 |
| Prepaid expenses and other current assets | (195) | (2,596) |
| Other assets | (47) | — |
| Accounts payable | (185) | (239) |
| Accrued expenses and other current liabilities | 6,440 | (4,589) |
| Operating lease liabilities | (1,566) | (1,369) |
| Other liabilities | 169 | 216 |
| Net cash used in operating activities | (98,841) | (70,216) |
| Investing activities: | ||
| Proceeds from maturities of marketable securities | 92,267 | — |
| Proceeds from sales of property and equipment | 684 | — |
| Purchases of marketable securities | (104,193) | — |
| Purchases of property and equipment | (12,246) | (11,881) |
| Net cash used in investing activities | (23,488) | (11,881) |
| Financing activities: | ||
| Repayment of debt | (1,213) | (11,776) |
| Proceeds from issuance of second lien loans | — | 43,865 |
| Proceeds from issuance of simple agreements for future equity | — | 23,660 |
| Proceeds from issuance of Series A cumulative redeemable convertible preferred stock | — | 145,000 |
| Proceeds from the reverse recapitalization, net of transaction costs | — | 26,239 |
| Proceeds from issuance of common stock and warrants in connection with a private placement | 100,000 | — |
| Proceeds from exercise of stock options | 2,035 | 1,221 |
| Proceeds from exercise of common stock warrants | 7,156 | — |
| Payments of offering costs | (5,527) | (16,618) |
| Net cash provided by financing activities | 102,451 | 211,591 |
| Net change in cash and cash equivalents and restricted cash | (19,878) | 129,494 |
| 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 | $32,333 | $147,653 |
| Components of cash and restricted cash at period end: | ||
| Cash and cash equivalents | $30,883 | $146,203 |
| Restricted cash included in prepaid and other current assets | 500 | — |
| Restricted cash | 950 | 1,450 |
| Total cash and cash equivalents and restricted cash | $32,333 | $147,653 |
| Supplemental disclosure of cash activities: | ||
| Cash paid for interest | $2,396 | $2,733 |
| Cash paid for income taxes | $10 | $— |
| Supplemental disclosure of non-cash activities: | ||
| Purchases of property and equipment included in accounts payable and accrued expenses and other current liabilities | $689 | $2,947 |
| Operating lease right-of-use asset obtained in exchange for operating lease liability upon modification of operating lease | $720 | $— |
| Operating lease right-of-use asset obtained in exchange for operating lease liability upon new operating lease | $497 | $— |
| Proceeds from exercise of stock options included in prepaid and other current assets | $664 | $— |
| Conversion of simple agreements for future equity into common stock in connection with reverse recapitalization | $— | $263,036 |
| Conversion of redeemable preferred stock into common stock in connection with reverse recapitalization | $— | $170,648 |
| Conversion of second lien loans into common stock in connection with reverse recapitalization | $— | $67,379 |
| Settlement of transaction costs in common stock in connection with reverse recapitalization | $— | $12,500 |
| Exchange of simple agreements for future equity for second lien loan | $— | $10,000 |
| Net exercise of warrants in connection with reverse recapitalization | $— | $8,891 |
| Issuance of non-redemption common stock in connection with reverse recapitalization | $— | $3,220 |
| Liabilities assumed from reverse recapitalization | $— | $31 |
| Offering costs included in accounts payable and accrued liabilities and other current liabilities | $— | $159 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.