{"url_path":"/sec/kdkrw/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-08","source_url":"https://www.sec.gov/Archives/edgar/data/1853138/0001628280-26-032862-index.html","accession_number":"0001628280-26-032862","cik":"0001853138","ticker":"KDK","issuer_name":"Kodiak AI, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1853138/0001628280-26-032862-index.html","primary_entity_key":"0001853138","primary_entity_name":"Kodiak AI, 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of Contents](#ia72a84980bb149c1bf84969b7d1b8c05_7)\n\nUNITED STATES\n\nSECURITIES AND EXCHANGE COMMISSION\n\nWashington, D.C. 20549\n\n_____________________________________\n\nFORM 10-Q\n\n_____________________________________\n\n(Mark One)\n\nx\nQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the quarterly period ended March 31, 2026\n\nor\n\noTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the transition period from ______ to ______\n\nCommission file number 001-41691\n\n_____________________________________\n\nKodiak AI, Inc.\n\n(Exact name of registrant as specified in its charter)\n\n_____________________________________\n\nDelaware\n\n98-1592112\n\n(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)\n\n1049 Terra Bella Avenue\n\nMountain View, CA 94043\n\n94043-7373\n\n(Address of Principal Executive Offices)(Zip Code)\n\n(650) 209-8005\n\n(Registrant’s telephone number, including area code)\n\nSecurities registered pursuant to Section 12(b) of the Act:\n\nTitle of each classTrading Symbol(s)Name of each exchange on which registered\n\nCommon stock, par value $0.0001 per share\n\nKDK\nThe Nasdaq Stock Market LLC\n\nRedeemable warrants, each exercisable for one share of common stock at an exercise\n\nprice of $9.28\n\nKDKRW\nThe Nasdaq Stock Market LLC\n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.\n\nYes x No o\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).\n\nYes x No o\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company, ” and \"emerging growth company\" in Rule 12b-2 of the Exchange Act.\n\nLarge accelerated fileroAccelerated filer\nx\n\nNon-accelerated fileroSmaller reporting companyo\n\nEmerging growth company\nx\n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.\n\no\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).\n\nYes o No x\n\nAs of May 1, 2026, the number of shares of the registrant’s common stock outstanding was 183,850,415.\n\n[Table of Contents](#ia72a84980bb149c1bf84969b7d1b8c05_7)\n\nTable of Contents\n\nPage\n\n[P](#ia72a84980bb149c1bf84969b7d1b8c05_981)[ART](#ia72a84980bb149c1bf84969b7d1b8c05_981)[I](#ia72a84980bb149c1bf84969b7d1b8c05_981) - Financial Information\n\n[Item 1.](#ia72a84980bb149c1bf84969b7d1b8c05_1301)\n\n[Financial Statements (unaudited)](#ia72a84980bb149c1bf84969b7d1b8c05_1301)\n\n[1](#ia72a84980bb149c1bf84969b7d1b8c05_1301)\n\n[Condensed Consolidated Balance Sheets](#ia72a84980bb149c1bf84969b7d1b8c05_549755814902)\n\n[1](#ia72a84980bb149c1bf84969b7d1b8c05_549755814902)\n\n[Condensed Consolidated Statements of Operations and Comprehensive](#ia72a84980bb149c1bf84969b7d1b8c05_549755814913)[Income (](#ia72a84980bb149c1bf84969b7d1b8c05_549755814913)[Loss](#ia72a84980bb149c1bf84969b7d1b8c05_549755814913))\n\n[2](#ia72a84980bb149c1bf84969b7d1b8c05_549755814913)\n\n[Condensed Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders’ Deficit](#ia72a84980bb149c1bf84969b7d1b8c05_549755814934)\n\n[3](#ia72a84980bb149c1bf84969b7d1b8c05_549755814934)\n\n[Condensed Consolidated Statements of Cash Flows](#ia72a84980bb149c1bf84969b7d1b8c05_549755814945)\n\n[4](#ia72a84980bb149c1bf84969b7d1b8c05_549755814945)\n\n[Notes to Condensed Consolidated Financial Statements (unaudited)](#ia72a84980bb149c1bf84969b7d1b8c05_1321)\n\n[5](#ia72a84980bb149c1bf84969b7d1b8c05_1321)\n\n[Item 2.](#ia72a84980bb149c1bf84969b7d1b8c05_1385)\n\n[Management](#ia72a84980bb149c1bf84969b7d1b8c05_1385)’[s Discussion and Analysis of Financial Condition and Results of Operations](#ia72a84980bb149c1bf84969b7d1b8c05_79)\n\n[22](#ia72a84980bb149c1bf84969b7d1b8c05_1385)\n\n[Item 3.](#ia72a84980bb149c1bf84969b7d1b8c05_549755815474)\n\n[Quantitative and Qualitative Disclosures About Market Risk](#ia72a84980bb149c1bf84969b7d1b8c05_549755815474)\n\n[31](#ia72a84980bb149c1bf84969b7d1b8c05_549755815474)\n\n[Item 4.](#ia72a84980bb149c1bf84969b7d1b8c05_549755815485)\n\n[Controls and Procedures](#ia72a84980bb149c1bf84969b7d1b8c05_549755815485)\n\n[32](#ia72a84980bb149c1bf84969b7d1b8c05_549755815485)\n\n[PART II](#ia72a84980bb149c1bf84969b7d1b8c05_1604) - Other Information\n\n[Item 1.](#ia72a84980bb149c1bf84969b7d1b8c05_549755815499)\n\n[Legal Proceedings](#ia72a84980bb149c1bf84969b7d1b8c05_549755815499)\n\n[32](#ia72a84980bb149c1bf84969b7d1b8c05_549755815499)\n\n[Item 1A.](#ia72a84980bb149c1bf84969b7d1b8c05_19)\n\n[Risk Factors](#ia72a84980bb149c1bf84969b7d1b8c05_549755815506)\n\n[33](#ia72a84980bb149c1bf84969b7d1b8c05_549755815506)\n\n[Item 2.](#ia72a84980bb149c1bf84969b7d1b8c05_1631)\n\n[Unregistered Sales of Equity Securities and Use of Proceeds](#ia72a84980bb149c1bf84969b7d1b8c05_1631)\n\n[71](#ia72a84980bb149c1bf84969b7d1b8c05_1631)\n\n[Item 3.](#ia72a84980bb149c1bf84969b7d1b8c05_1637)\n\n[Defaults Upon Senior Securities](#ia72a84980bb149c1bf84969b7d1b8c05_1637)\n\n[71](#ia72a84980bb149c1bf84969b7d1b8c05_1637)\n\n[Item 4.](#ia72a84980bb149c1bf84969b7d1b8c05_549755815531)\n\n[Mine Safety Disclosures](#ia72a84980bb149c1bf84969b7d1b8c05_549755815531)\n\n[72](#ia72a84980bb149c1bf84969b7d1b8c05_549755815531)\n\n[Item 5.](#ia72a84980bb149c1bf84969b7d1b8c05_549755815538)\n\n[Other Information](#ia72a84980bb149c1bf84969b7d1b8c05_549755815538)\n\n[72](#ia72a84980bb149c1bf84969b7d1b8c05_549755815538)\n\n[Item 6.](#ia72a84980bb149c1bf84969b7d1b8c05_549755815560)\n\n[Exhibits](#ia72a84980bb149c1bf84969b7d1b8c05_549755815560)\n\n[72](#ia72a84980bb149c1bf84969b7d1b8c05_549755815560)\n\n[Signatures](#ia72a84980bb149c1bf84969b7d1b8c05_232)\n\n[73](#ia72a84980bb149c1bf84969b7d1b8c05_232)\n\n[Table of Contents](#ia72a84980bb149c1bf84969b7d1b8c05_7)\n\nCAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS\n\nThis Quarterly Report on Form 10-Q (this “Quarterly Report”) contains forward-looking statements within the meaning of the federal securities laws, which statements involve substantial risks and uncertainties. Such forward-looking statements may include our or our management teams’ expectations, hopes, beliefs, intentions or strategies regarding the future. Forward-looking statements may be identified by the use of words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “potential,” “project,” “seek,” “should,” “will,” “would” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this Quarterly Report may include, for example, statements about:\n\n•    our operational and product roadmap, and our ability to produce and deploy the Kodiak Driver at scale;\n\n•    the regulatory landscape for the Kodiak Driver and complexities with compliance related to such landscape, including with respect to recent changes in tariffs and trade policy;\n\n•    the evolution of our business model over time;\n\n•    developments relating to our competitors and industry;\n\n•    our ability to successfully collaborate with business partners, suppliers, and customers;\n\n•    our expectations regarding our ability to obtain, maintain, protect and enforce our intellectual property rights;\n\n•    our future capital requirements and sources and uses of cash;\n\n•    our expectations regarding our cash runway and ability to continue as a going concern;\n\n•    our ability to raise additional capital through future debt or equity offerings and any associated dilution or restrictive covenants;\n\n•    our expectations regarding the ongoing implementation of our enterprise resource planning system and any effect on our internal control over financial reporting;\n\n•    our success in retaining or recruiting, or changes required in, our officers, key employees or directors;\n\n•    our expectations regarding expansion plans and opportunities, including into international markets;\n\n•    the potential liquidity and trading of our public securities;\n\n•    the ongoing effects of current and future global economic conditions;\n\n•    any changes in our strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects and plans; and\n\n•    expectations regarding our status as an emerging growth company under the JOBS Act.\n\nThese forward-looking statements are based on information available as of the date of this Quarterly Report and current expectations, forecasts and assumptions and involve a number of judgments, risks and uncertainties.\n\nAccordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date. Except as required under applicable securities laws, neither we nor our affiliates have any obligation and specifically disclaim any such obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by investors as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. We caution you that the foregoing list does not contain all of the forward-looking statements made in this Quarterly Report.\n\nWe operate in a competitive and rapidly changing environment. New risks and uncertainties emerge from time to time and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this Quarterly Report. We cannot assure you that the results, events and circumstances reflected in the forward-looking statements will be achieved or occur, and actual results, events or circumstances could differ materially from those described in the forward-looking statements. Some factors that could cause actual results to differ include:\n\n[Table of Contents](#ia72a84980bb149c1bf84969b7d1b8c05_7)\n\n•    significant risks and uncertainties associated with rapidly evolving autonomous vehicle (“AV”) technology;\n\n•    our limited operating history, including our net losses and undemonstrated ability to achieve profitability;\n\n•our ability to execute our Driver-as-a-Service or DaaS business model, including maintaining, retaining and expanding customer relationships and scaling production and commercial deliveries on expected timelines;\n\n•    any flaws or errors in our solutions or flaws in or misuse of AV technology in general;\n\n•    the risk of significant injury, including fatalities, presented by AV technology;\n\n•    the effects of competition on our business;\n\n•    risks related to working with third-party suppliers, OEMs, upfitters, service providers and partners for key components of the Kodiak Driver, including supply shortages, lead times, and operational design domain (\"ODD\") expansion;\n\n•    our dependence on a limited number of customers, including Atlas and defense customers, for a significant portion of our revenue;\n\n•    our reliance on the experience and expertise of our management team, engineers and other key employees;\n\n•    our ability to establish, maintain, protect or enforce our technology and intellectual property rights and defend intellectual property infringement claims from others;\n\n•    changes in the regulatory environment, including changes to tariff and trade policies;\n\n•    risks related to general business and economic conditions, including those related to the long-haul trucking, industrial trucking, oil and gas and defense ecosystems;\n\n•    real or perceived inaccuracies in our assumptions and estimates to calculate certain metrics;\n\n•    our ability to raise capital in the future and our ability to manage our growth, cash and expenses;\n\n•    our ability to maintain the listing of our securities on the Nasdaq Stock Market LLC (“Nasdaq”);\n\n•    any legal proceedings instituted against us; and\n\n•    other risks and uncertainties described in this Quarterly Report, including those detailed under the section titled “Risk Factors.”\n\nIf any of the risks or uncertainties described in this Quarterly Report materialize or the underlying assumptions prove incorrect, actual results and plans could differ materially from the results implied by any forward-looking statements. There may be additional risks that we presently do not know or that we currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements.\n\n[Table of Contents](#ia72a84980bb149c1bf84969b7d1b8c05_7)\n\nPart I - Financial Information"}