Kodiak AI, Inc. SEC Filings

Polar Asset Management Partners Inc. reports beneficial ownership of 2,358,587 shares of Kodiak AI Inc. (Common Stock), representing 1.3% of the class. The filing states these are shares issuable upon the exercise of warrants. The statement is an amendment (Schedule 13G/A) signed by the Chief Compliance Officer on 05/15/2026.

AAC II Holdings II LP, a 10% owner of Kodiak AI, Inc., reported acquiring additional equity and warrants. On May 8, 2026, it received 769,230 shares of Kodiak AI common stock as a grant/award transaction, bringing its direct holdings to 4,360,857 shares.

Under a subscription agreement dated May 7, 2026, AAC II Holdings II LP agreed to an aggregate subscription amount of $4,999,995, purchasing 769,230 common shares at $6.50 per share and an accompanying warrant to purchase 769,230 common shares. The warrant is initially exercisable at $6.00 per share, with anti-dilution and other adjustments, and expires on May 7, 2031.

The filing notes that various Ares-affiliated entities may be deemed to share beneficial ownership of these securities but each disclaims beneficial ownership except to the extent of its pecuniary interest.

Kodiak AI, Inc. files a prospectus supplement incorporating its Form 10-Q for the quarter ended March 31, 2026 and provides updated financial results and disclosures.

For Q1 2026 Kodiak reported net income $26.49M and revenue $1.83M; the quarter’s positive net income principally reflects a $64.7M non-cash uplift from a change in fair value of common stock warrants. As of March 31, 2026, cash and marketable securities totaled $90.2M and shares outstanding were 183,850,415 as of May 1, 2026. The Company closed a private placement (PIPE) on May 8, 2026 for aggregate gross proceeds of approximately $100.0M, which adjusted certain conversion and warrant exercise prices to $6.00 per share. Management states that, inclusive of the PIPE net proceeds, the Company expects to fund operations into Q2 2027 but anticipates additional funding needs beyond that horizon.

Kodiak AI, Inc. reported first‑quarter 2026 revenue of $1.8 million, up from $1.5 million a year earlier, as its Driver‑as‑a‑Service model ramped and U.S. Army work declined. The company posted net income of $26.5 million versus a $128.2 million loss, driven largely by a $64.7 million non‑cash gain from remeasuring common stock warrant liabilities and the absence of prior‑year SAFE fair value losses.

Operating performance remains deeply negative: loss from operations widened to $37.9 million as research and development, general and administrative, and truck and freight costs nearly doubled while the business scaled. Non‑GAAP loss from operations, excluding $6.0 million of stock‑based compensation, was $31.8 million.

Kodiak ended March 31, 2026 with $90.2 million in cash, cash equivalents and marketable securities, plus short‑term debt of $12.3 million and a total accumulated deficit of $827.2 million. Management expects continued losses and has raised approximately $100.0 million in a May 2026 private placement, but still projects its cash runway, including that capital, only into the second quarter of 2027 and plans to seek further financing.

Kodiak AI filed a prospectus supplement attaching a Form 8-K that discloses a private placement of common stock and accompanying warrants. The Private Placement covers 15,384,609 shares at $6.50 per share and warrants exercisable for 15,384,609 underlying shares, expected to generate approximately $100.0 million gross proceeds, subject to customary closing conditions and a planned closing on May 8, 2026. The warrants are immediately exercisable, initially exercisable at $6.00 per share, and expire five years from issuance. An affiliate of Ares agreed to buy 769,230 shares and a warrant for approximately $5.0 million. The Company agreed to file a resale registration statement for the Securities within 30 days and to keep it effective until specified termination conditions in the agreements.

Kodiak AI filed a prospectus supplement attaching a Form 8-K that discloses a private placement of common stock and accompanying warrants. The Private Placement covers 15,384,609 shares at $6.50 per share and warrants exercisable for 15,384,609 underlying shares, expected to generate approximately $100.0 million gross proceeds, subject to customary closing conditions and a planned closing on May 8, 2026. The warrants are immediately exercisable, initially exercisable at $6.00 per share, and expire five years from issuance. An affiliate of Ares agreed to buy 769,230 shares and a warrant for approximately $5.0 million. The Company agreed to file a resale registration statement for the Securities within 30 days and to keep it effective until specified termination conditions in the agreements.

Kodiak AI filed a prospectus supplement attaching a Form 8-K that discloses a private placement of common stock and accompanying warrants. The Private Placement covers 15,384,609 shares at $6.50 per share and warrants exercisable for 15,384,609 underlying shares, expected to generate approximately $100.0 million gross proceeds, subject to customary closing conditions and a planned closing on May 8, 2026. The warrants are immediately exercisable, initially exercisable at $6.00 per share, and expire five years from issuance. An affiliate of Ares agreed to buy 769,230 shares and a warrant for approximately $5.0 million. The Company agreed to file a resale registration statement for the Securities within 30 days and to keep it effective until specified termination conditions in the agreements.

Kodiak AI filed a prospectus supplement attaching a Form 8-K that discloses a private placement of common stock and accompanying warrants. The Private Placement covers 15,384,609 shares at $6.50 per share and warrants exercisable for 15,384,609 underlying shares, expected to generate approximately $100.0 million gross proceeds, subject to customary closing conditions and a planned closing on May 8, 2026. The warrants are immediately exercisable, initially exercisable at $6.00 per share, and expire five years from issuance. An affiliate of Ares agreed to buy 769,230 shares and a warrant for approximately $5.0 million. The Company agreed to file a resale registration statement for the Securities within 30 days and to keep it effective until specified termination conditions in the agreements.

Kodiak AI, Inc. entered into subscription agreements for a $100 million private placement of 15,384,609 common shares at $6.50 each, with accompanying five-year warrants for 15,384,609 shares exercisable at $6.00. An affiliate of Ares Management is investing about $5 million. Kodiak plans to use the proceeds for working capital and general corporate purposes.

For the quarter ended March 31, 2026, Kodiak reported revenue of $1.8 million, up 74% quarter-over-quarter, and net income of $26.5 million driven largely by a $64.7 million non-cash gain on common stock warrants, despite a $37.9 million GAAP operating loss. Free cash flow was negative $35.0 million, and cash, cash equivalents and marketable securities totaled $90.2 million at quarter end, excluding the planned PIPE proceeds.

Operationally, Kodiak expanded its fleet to 28 customer-owned fully-driverless trucks and accumulated more than 23,500 cumulative hours of paid driverless operations, a 120% increase over the end of Q4 2025.

Kodiak AI, Inc. entered into subscription agreements for a $100 million private placement of 15,384,609 common shares at $6.50 each, with accompanying five-year warrants for 15,384,609 shares exercisable at $6.00. An affiliate of Ares Management is investing about $5 million. Kodiak plans to use the proceeds for working capital and general corporate purposes.

For the quarter ended March 31, 2026, Kodiak reported revenue of $1.8 million, up 74% quarter-over-quarter, and net income of $26.5 million driven largely by a $64.7 million non-cash gain on common stock warrants, despite a $37.9 million GAAP operating loss. Free cash flow was negative $35.0 million, and cash, cash equivalents and marketable securities totaled $90.2 million at quarter end, excluding the planned PIPE proceeds.

Operationally, Kodiak expanded its fleet to 28 customer-owned fully-driverless trucks and accumulated more than 23,500 cumulative hours of paid driverless operations, a 120% increase over the end of Q4 2025.

Kodiak AI, Inc. entered into subscription agreements for a $100 million private placement of 15,384,609 common shares at $6.50 each, with accompanying five-year warrants for 15,384,609 shares exercisable at $6.00. An affiliate of Ares Management is investing about $5 million. Kodiak plans to use the proceeds for working capital and general corporate purposes.

For the quarter ended March 31, 2026, Kodiak reported revenue of $1.8 million, up 74% quarter-over-quarter, and net income of $26.5 million driven largely by a $64.7 million non-cash gain on common stock warrants, despite a $37.9 million GAAP operating loss. Free cash flow was negative $35.0 million, and cash, cash equivalents and marketable securities totaled $90.2 million at quarter end, excluding the planned PIPE proceeds.

Operationally, Kodiak expanded its fleet to 28 customer-owned fully-driverless trucks and accumulated more than 23,500 cumulative hours of paid driverless operations, a 120% increase over the end of Q4 2025.

Kodiak AI, Inc. entered into subscription agreements for a $100 million private placement of 15,384,609 common shares at $6.50 each, with accompanying five-year warrants for 15,384,609 shares exercisable at $6.00. An affiliate of Ares Management is investing about $5 million. Kodiak plans to use the proceeds for working capital and general corporate purposes.

For the quarter ended March 31, 2026, Kodiak reported revenue of $1.8 million, up 74% quarter-over-quarter, and net income of $26.5 million driven largely by a $64.7 million non-cash gain on common stock warrants, despite a $37.9 million GAAP operating loss. Free cash flow was negative $35.0 million, and cash, cash equivalents and marketable securities totaled $90.2 million at quarter end, excluding the planned PIPE proceeds.

Operationally, Kodiak expanded its fleet to 28 customer-owned fully-driverless trucks and accumulated more than 23,500 cumulative hours of paid driverless operations, a 120% increase over the end of Q4 2025.

Kodiak AI, Inc. is calling a virtual 2026 annual stockholder meeting on June 11, 2026 at 10:00 a.m. Pacific Time via webcast at www.virtualshareholdermeeting.com/KDK2026. Stockholders will vote on electing two Class I directors, Don Burnette and Kristin Sverchek, to serve until the 2029 meeting.

They will also vote on ratifying Deloitte & Touche LLP as independent registered public accounting firm for the year ending December 31, 2026. As of the April 17, 2026 record date, 183,804,469 shares of common stock and 142,155 shares of 9.99% Series A cumulative convertible preferred stock are entitled to vote, with each preferred share carrying 104 votes on an as-converted basis.

Kodiak AI, Inc. reported fourth quarter and full year 2025 results that combine rapid operational scaling with very heavy losses. Q4 revenue was $1.1 million, up 37% from the prior quarter, driven by expanding deployment of its Kodiak Driver autonomous trucking platform.

For 2025, revenue totaled $3.8 million versus $14.9 million in 2024, while net loss widened sharply to $585.5 million, largely reflecting non-cash fair value changes and equity-related charges. Cash used in operating activities was $94.4 million, and free cash flow was negative $116.5 million, underscoring significant cash burn.

Operationally, Kodiak scaled to 20 fully driverless trucks with Atlas Energy Solutions, logged over 10,700 cumulative hours of paid driverless operations, signed a collaboration with Bosch, won a U.S. Marine Corps contract, refinanced $30 million of debt, and ended the year with $120.7 million in cash, cash equivalents and marketable securities.