Revenue remains highly erratic with a 74% year-over-year decline, while operating margins have plummeted to as low as -2966% in recent periods due to excessive SG&A expenses.
| Sales/Revenue | 4.16M | - | - | - |
| Revenue Growth % | - | - | - | - |
| Cost of Goods Sold | 0 | - | - | - |
| COGS % of Revenue | - | - | - | - |
| Gross Profit | -12.82M | 3.8M | 14.93M | 16.95M |
| Gross Margin % | -308.42% | 100% | 100% | 100% |
| Gross Profit Growth % | - | -74.57% | -11.88% | - |
| Operating Expenses | 119.06M | 116.42M | 76.65M | 70.8M |
| OpEx % of Revenue | - | 3066.16% | 513.31% | 417.77% |
| Selling, General & Admin | 78.46M | 66.27M | 33.22M | 31.33M |
| SG&A % of Revenue | - | 1745.19% | 222.43% | 184.86% |
| Research & Development | 0 | - | - | - |
| R&D % of Revenue | - | - | - | - |
| Other Operating Expenses | 0 | - | - | - |
| Operating Income | -131.88M | -112.63M | -61.72M | -53.85M |
| Operating Margin % | -3173.17% | -2966.16% | -413.31% | -317.77% |
| Operating Income Growth % | - | -82.48% | -14.61% | - |
| EBITDA | -127.75M | -109.38M | -57.1M | -49.73M |
| EBITDA Margin % | -3073.85% | -2880.62% | -382.39% | -293.49% |
| EBITDA Growth % | -91.55% | -91.54% | -14.81% | - |
| D&A (Non-Cash Add-back) | 4.13M | 3.25M | 4.62M | 4.11M |
| EBIT | -455.1M | -580.1M | -64.51M | -51.53M |
| Net Interest Income | -6.45M | -5.42M | -4.06M | -3.21M |
| Interest Income | 294K | 0 | 895K | 2.19M |
| Interest Expense | 6.75M | 5.42M | 4.95M | 5.41M |
| Other Income/Expense | 0 | - | - | - |
| Pretax Income | -430.85M | -585.52M | -69.46M | -56.94M |
| Pretax Margin % | -10366.96% | -15420.65% | -465.13% | -335.98% |
| Income Tax | 7K | 3K | 1K | 9K |
| Effective Tax Rate % | -0% | -0% | -0% | -0.02% |
| Net Income | -430.85M | -585.52M | -69.46M | -56.95M |
| Net Margin % | -10366.94% | -15420.73% | -465.14% | -336.04% |
| Net Income Growth % | -135.06% | -742.98% | -21.98% | - |
| Net Income (Continuing) | -430.86M | -585.52M | -69.46M | -56.95M |
| Discontinued Operations | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.99 | -6.42 | -1.19 | 0.27 |
| EPS Growth % | -83.54% | -439.5% | -540.74% | - |
| EPS (Basic) | - | -6.42 | -1.19 | 0.27 |
| Diluted Shares Outstanding | 216.17M | 91.22M | 58.41M | 62.5M |
| Basic Shares Outstanding | 176.35M | 91.22M | 58.41M | 62.5M |
| Dividend Payout Ratio | - | - | - | - |
Extreme cash burn insolvency
As reported in financial statements, KDKRW's revenue trajectory remains highly erratic, characterized by a 74% year-over-year decline that suggests the firm's income is derived from non-recurring, lumpy milestone payments rather than a scalable, commercialized autonomous trucking service model.
The lack of consistent top-line growth indicates that the company has yet to transition from experimental pilot programs to a repeatable revenue engine. Investors should monitor whether future inflows remain tied to sporadic engineering contracts or if the firm can secure long-term, volume-based logistics partnerships.
Based on the provided income statement data, the company reports a 100% gross margin in several periods, which appears to be a structural anomaly that likely excludes critical operational costs from the cost of goods sold calculation.
This accounting presentation obscures the true unit economics of the firm's autonomous hardware and software deployment. A more rigorous analysis suggests that if maintenance and sensor depreciation were properly categorized, the gross margin would likely be significantly lower, reflecting the capital-intensive nature of the autonomous trucking industry.
According to recent financial filings, KDKRW maintains an extremely high fixed-cost structure, with SG&A expenses frequently dwarfing total revenue, resulting in an operating margin that has reached as low as -2966% in recent periods.
The company's expense discipline appears insufficient to offset the massive R&D and administrative overhead required to sustain its autonomous vehicle test fleet. This cost structure implies that the firm is currently prioritizing technological development over path-to-profitability, leaving it highly exposed to capital market volatility.
With a net margin of -15420% and only $50.7 million in cash reserves, the company's financial position appears precarious, suggesting that the current burn rate may lead to a liquidity crisis in the near term.
Short-sellers would likely focus on the widening gap between the company's cash position and its persistent operating losses. The reliance on external financing to fund ongoing operations warrants further investigation, as the current trajectory may necessitate dilutive capital raises or a strategic pivot to avoid insolvency.
Quick answers to the most common questions about buying KDKRW stock.
Kodiak AI, Inc. Warrants (KDKRW) reported a net loss of $585.5M for the fiscal year ending 2025.
Kodiak AI, Inc. Warrants (KDKRW) reported an operating income of $-112.6M, resulting in an operating profit margin of -2966.2%. This margin reflects the operational efficiency of the business before interest and taxes.
Kodiak AI, Inc. Warrants (KDKRW) generated $3.8M in gross profit for the year, representing a gross profit margin of 100.0%. This demonstrates the company's core pricing power and production efficiency.