Financial stability is under pressure as the company carries $47.0 million in total debt against a negative equity position of $22.7 million, reflecting a highly leveraged and vulnerable capital structure.
| Total Current Assets | 95.34M | 126.01M | 20.25M | 30.9M |
| Cash & Short-Term Investments | 90.79M | 120.67M | 16.71M | 27.76M |
| Cash Only | 65.55M | 50.76M | 16.71M | 27.76M |
| Short-Term Investments | 25.24M | 69.91M | 0 | 0 |
| Accounts Receivable | 500K | 879K | 3.54M | 2.11M |
| Days Sales Outstanding | 103.77 | 84.5 | 86.53 | 45.53 |
| Inventory | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - |
| Other Current Assets | 4.05M | 4.46M | 0 | 1.03M |
| Total Non-Current Assets | 35.48M | 33.4M | 15.31M | 15.4M |
| Property, Plant & Equipment | 34.51M | 31.81M | 13.84M | 13.67M |
| Fixed Asset Turnover | 0.15x | 0.12x | 1.08x | 1.24x |
| Goodwill | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 |
| Long-Term Investments | 561.9M | 1.45M | 0 | 0 |
| Other Non-Current Assets | 124K | 131K | 1.47M | 1.73M |
| Total Assets | 130.82M | 159.41M | 35.56M | 46.29M |
| Asset Turnover | 0.03x | 0.02x | 0.42x | 0.37x |
| Asset Growth % | 910.08% | 348.26% | -23.18% | - |
| Total Current Liabilities | 25.86M | 26.66M | 31.22M | 14.88M |
| Accounts Payable | 1.03M | 1.46M | 1.37M | 1.82M |
| Days Payables Outstanding | 57.43 | 21.44 | - | - |
| Short-Term Debt | 14.02M | 2.98M | 16.79M | 5.19M |
| Deferred Revenue (Current) | 30K | 0 | 0 | 1.14M |
| Other Current Liabilities | 10.82M | 22.23M | 9.96M | 4.68M |
| Current Ratio | 3.69x | 4.73x | 0.65x | 2.08x |
| Quick Ratio | 3.69x | 4.73x | 0.65x | 2.08x |
| Cash Conversion Cycle | 46.33 | - | - | - |
| Total Non-Current Liabilities | 127.69M | 192.61M | 255.18M | 218.51M |
| Long-Term Debt | 29.75M | 29.88M | 17.57M | 31.01M |
| Capital Lease Obligations | 15.66M | 3.58M | 5.72M | 4.54M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 94.68M | 159.15M | 231.88M | 182.96M |
| Total Liabilities | 153.55M | 219.27M | 286.4M | 233.39M |
| Total Debt | 47.02M | 36.44M | 41.73M | 42.33M |
| Net Debt | -18.53M | -14.32M | 25.02M | 14.58M |
| Debt / Equity | -2.07x | - | - | - |
| Debt / EBITDA | -0.37x | - | - | - |
| Net Debt / EBITDA | 0.15x | - | - | - |
| Interest Coverage | -35.37x | -27.50x | -13.03x | -9.53x |
| Total Equity | -22.73M | -59.87M | -250.84M | -187.1M |
| Equity Growth % | 28.03% | 76.13% | -34.07% | - |
| Book Value per Share | -0.11 | -0.66 | -1.38 | -1.03 |
| Total Shareholders' Equity | -22.73M | -59.87M | -250.84M | -187.1M |
| Common Stock | 18K | 17K | 0 | 0 |
| Retained Earnings | -827.18M | -853.67M | -268.14M | -198.69M |
| Treasury Stock | 0 | 0 | 0 | 0 |
| Accumulated OCI | -2K | 22K | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 |
Unsustainable capital depletion
As reported in recent financial filings, Kodiak AI's total equity has deteriorated into a significant deficit of $22.7 million as of 2026Q1, reflecting a persistent trend of capital erosion driven by aggressive R&D spending that consistently outpaces the company's ability to generate meaningful commercial revenue.
The trajectory of the balance sheet suggests a company struggling to maintain its asset base while funding high-burn autonomous development. The shift from a positive equity position in 2025Q3 to a deficit indicates that the firm is consuming its capital reserves at a rate that may necessitate further dilutive financing.
Based on the provided balance sheet data, Kodiak AI maintains a debt load of $47.0 million as of 2026Q1, which, when viewed alongside the company's negative equity position, suggests a precarious leverage profile that leaves little room for operational error or further delays in contract milestones.
The presence of debt on a balance sheet characterized by deep net losses and negative equity warrants close monitoring by investors. This leverage appears to be a necessity-driven bridge to fund ongoing operations rather than a strategic tool, potentially increasing the firm's sensitivity to interest rate fluctuations and credit market tightening.
According to the latest quarterly figures, Kodiak AI's cash position has declined to $65.5 million in 2026Q1, a significant reduction from the $146.2 million reported in 2025Q3, signaling a rapid consumption of liquidity that may limit the company's operational runway in the coming fiscal periods.
While the current ratio of 3.69 appears superficially healthy, the underlying cash burn suggests that the company's liquidity is highly volatile and dependent on the timing of lumpy contract inflows. Investors should consider whether this cash buffer is sufficient to sustain the current R&D intensity without requiring additional capital injections.
As evidenced by the company's financial statements, the accumulated deficit has ballooned to $827.2 million by 2026Q1, illustrating the profound impact of sustained operating losses on the firm's equity quality and its overall financial health over the past several quarters.
The persistent growth of the accumulated deficit underscores the difficulty the company faces in achieving a path to profitability. This trend suggests that the business model remains in a high-risk, pre-commercial phase where equity value is being systematically eroded by the costs required to maintain its autonomous technology stack.
Quick answers to the most common questions about buying KDK stock.
As of 2025, Kodiak AI, Inc. Common Stock (KDK) had total assets of $159.4M including $126.0M in current assets.
Kodiak AI, Inc. Common Stock (KDK) carries total debt of $36.4M, offset by $120.7M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Kodiak AI, Inc. Common Stock (KDK) has total shareholders' equity (book value) of $-59.9M ($-0.66 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Kodiak AI, Inc. Common Stock (KDK) reported a current ratio of 4.73x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.