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 Statements of Operations and Comprehensive Loss
(In thousands, except per share amounts; unaudited)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Revenues | $770 | $400 | $2,744 | $1,227 |
| Operating expenses: | ||||
| Research and development | 13,452 | 10,431 | 35,804 | 29,293 |
| General and administrative | 9,177 | 5,149 | 21,463 | 15,677 |
| Truck and freight operations | 6,627 | 2,094 | 16,102 | 5,996 |
| Sales and marketing | 1,483 | 934 | 3,290 | 2,520 |
| Total operating expenses | 30,739 | 18,608 | 76,659 | 53,486 |
| Loss from operations | (29,969) | (18,208) | (73,915) | (52,259) |
| Other (expenses) income: | ||||
| Interest expense | (941) | (1,219) | (3,365) | (3,760) |
| Interest income and other, net | (3,018) | 176 | (2,555) | 595 |
| Loss on issuance of Series A cumulative redeemable convertible preferred stock | (84,174) | — | (84,174) | — |
| Loss on issuance of common stock | (3,220) | — | (3,220) | — |
| Loss on issuance of common stock warrants | (123,328) | — | (123,328) | — |
| Change in fair value of second lien loans | (21,784) | — | (23,938) | — |
| Change in fair value of simple agreements for future equity | 2,473 | — | (190,075) | — |
| Change in fair value of redeemable convertible preferred stock warrant liabilities | (5,974) | 107 | (7,272) | 321 |
| Total other expenses, net | (239,966) | (936) | (437,927) | (2,844) |
| Net loss before income taxes | (269,935) | (19,144) | (511,842) | (55,103) |
| Income taxes | — | — | (4) | (4) |
| Net loss and comprehensive loss | $(269,935) | $(19,144) | $(511,846) | $(55,107) |
| Net loss per common share, basic and diluted | $(3.89) | $(0.33) | $(8.13) | $(0.94) |
| Weighted-average common shares outstanding, basic and diluted | 69,405 | 58,398 | 62,978 | 58,338 |
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