Kodiak Ai . Common Stock Stock Earnings Reports

Kodiak AI reported Q1 2026 operational and financial progress anchored by a $100 million equity raise that extends liquidity into 2027 (pro forma cash ≈ $185M). Key operational highlights: 28 deployed driverless trucks (8 added in Q1) with >23,500 paid driverless hours (120% increase vs. Q4), >15,600 cumulative loads delivered (~24% growth), and >25,000 commercial network miles. The company is progressing toward a targeted long‑haul driverless launch in late 2026 with an autonomy readiness measure (ARM) of 86% as of April and expects to reach 100% by continuing to close safety-case claims. Strategic partnerships and expansions include a defense collaboration with General Dynamics Land Systems (Leonidas AGV), a pilot with West Fraser for logging in Canada (first international/forestry pilot), continued collaboration with Bosch for industrialized SensorPod hardware, and adoption of NVIDIA DRIVE Hyperion for next‑generation trucks. Financials: Q1 revenue $1.8M (Q/Q +74%), GAAP operating loss $37.9M, non‑GAAP operating loss $31.8M, Q1 free cash flow -$35M (better than plan). 2026 guidance: expect driverless trucks to increase to mid‑thirties by Q2 exit, FY free cash flow improved to -$155M to -$165M. Management reiterated capital discipline, continued R&D and hardware investments (including one‑time NRE in Q2 for cost reduction), and multi‑vertical strategy (long‑haul, industrial, defense) with long‑haul expected to be the largest revenue opportunity over time.