Kodiak AI, Inc.
For the period ended Sep 30, 2025. Filed Nov 13, 2025.
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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.
Sep 30, 2025 · Filed Nov 13, 2025
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 Balance Sheets
(In thousands, except par values; unaudited)
| September 30,2025 | December 31,2024 | |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $146,203 | $16,709 |
| Accounts receivable | 706 | 1,280 |
| Prepaid expenses and other current assets | 4,916 | 2,260 |
| Total current assets | 151,825 | 20,249 |
| Restricted cash | 1,450 | 1,450 |
| Property and equipment, net | 18,796 | 6,723 |
| Operating lease right-of-use assets | 5,742 | 7,115 |
| Other assets | 26 | 24 |
| Total assets | $177,839 | $35,561 |
| Liabilities, redeemable convertible preferred stock and stockholders’ deficit | ||
| Current liabilities: | ||
| Accounts payable | $3,284 | $1,372 |
| Accrued expenses and other current liabilities | 7,371 | 11,416 |
| Operating lease liabilities, current | 1,849 | 1,638 |
| Debt, current portion | 22,148 | 16,792 |
| Total current liabilities | 34,652 | 31,218 |
| Debt, net of current portion | 1,083 | 17,574 |
| Second lien loans | 10,423 | — |
| Simple agreements for future equity | — | 59,301 |
| Operating lease liabilities, noncurrent | 4,143 | 5,723 |
| Common stock warrants | 123,328 | — |
| Redeemable convertible preferred stock warrant liabilities | — | 1,619 |
| Other liabilities | 528 | 313 |
| Total liabilities | 174,157 | 115,748 |
| Commitments and contingencies (Note 8) | ||
| Redeemable convertible preferred stock | ||
| Series A cumulative redeemable convertible preferred stock, par value $0.0001; 20,000 and no shares authorized as of September 30, 2025 and December 31, 2024, respectively; 142 and no shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively | 223,185 | — |
| Redeemable convertible preferred stock, par value $0.0001; no and 98,127 shares authorized as of September 30, 2025 and December 31, 2024, respectively; no and 62,240 shares issued and outstanding as of September 30, 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 September 30, 2025 and December 31, 2024, respectively; 174,9571 and 58,057 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively | 17 | 6 |
|---|---|---|
| Additional paid-in capital | 560,470 | 17,303 |
| Accumulated deficit | (779,990) | (268,144) |
| Total stockholders’ deficit | (219,503) | (250,835) |
| Total liabilities, redeemable convertible preferred stock and stockholders’ deficit | $177,839 | $35,561 |
| ________________________ | ||
| 1 Excludes 6,250,000 shares legally issued and outstanding related to sponsor earn out securities (see Note 3). | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.