The company's financial position has deteriorated significantly, with total assets contracting from $545.7 million in 2024Q3 to $130.8 million in 2026Q1, resulting in a negative equity position of $22.7 million.
| Total Current Assets | 95.34M | 126.01M | 20.25M | 30.9M |
| Cash & Short-Term Investments | - | - | - | - |
| Cash Only | - | - | - | - |
| Short-Term Investments | - | - | - | - |
| Accounts Receivable | - | - | - | - |
| Days Sales Outstanding | - | - | - | - |
| Inventory | - | - | - | - |
| 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 | - | - | - | - |
| Total Assets | 130.82M | 159.41M | 35.56M | 46.29M |
| Asset Turnover | 0.03x | 0.02x | 0.42x | 0.37x |
| Asset Growth % | 94.31% | 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 | - | - | - | - |
| Short-Term Debt | 14.02M | 2.98M | 16.79M | 5.19M |
| Deferred Revenue (Current) | 0 | - | - | - |
| 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 | - | - | - | - |
| 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 | 0 | - | - | - |
| Deferred Tax Liabilities | 0 | - | - | - |
| Other Non-Current Liabilities | - | - | - | - |
| 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 | -67.46x | -106.97x | -13.03x | -9.53x |
| Total Equity | -22.73M | -59.87M | -250.84M | -187.1M |
| Equity Growth % | -199.76% | 76.13% | -34.07% | - |
| Book Value per Share | -0.11 | -0.66 | -4.29 | -2.99 |
| 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 |
Insolvency from capital depletion
As reported in financial statements, KDKRW's total assets plummeted from $545.7 million in 2024Q3 to $130.8 million by 2026Q1, reflecting a rapid contraction in the firm's resource base as it struggles to sustain its autonomous vehicle development programs without a reliable, recurring revenue stream.
The dramatic decline in asset value over the last six quarters suggests that the company is consuming its capital base to fund ongoing R&D and operational overhead. This trajectory indicates a business model that has yet to achieve the scale necessary to stabilize its financial position, leaving the balance sheet increasingly fragile.
Based on the provided quarterly data, the company's cash position has fluctuated significantly, dropping from a peak of $146.2 million in 2025Q3 to $90.8 million in 2026Q1, which highlights the extreme sensitivity of the firm's liquidity to its ongoing, high-burn development activities.
While the current ratio of 3.69 might appear superficially healthy, the underlying cash burn suggests that this liquidity is transient and likely insufficient to support long-term operations. Investors should monitor the rate of cash depletion, as the current trend implies a narrowing window for achieving commercial milestones before additional financing becomes mandatory.
According to recent balance sheet filings, KDKRW's equity position has deteriorated into a deficit of $22.7 million as of 2026Q1, a stark reversal from the $522.6 million surplus reported in 2024Q3, primarily driven by the accumulation of massive, recurring net losses.
The transition to negative equity suggests that the company's historical capital raises have been largely exhausted by operational expenditures. This erosion of shareholder value underscores the difficulty of maintaining a deep-tech autonomous platform without a clear path to profitability or consistent revenue generation.
As indicated by the quarterly balance sheet, the company's reliance on $34.5 million in net PPE against a backdrop of negative equity warrants caution, as these assets may hold limited liquidation value if the firm's proprietary autonomous technology fails to achieve commercial adoption.
The lack of goodwill or intangible assets on the balance sheet is notable, yet the concentration of value in physical hardware suggests that the company remains tethered to a capital-intensive model. This structure creates a significant risk that the firm's primary assets could become obsolete or impaired should the competitive landscape shift toward more efficient software-only solutions.
Quick answers to the most common questions about buying KDKRW stock.
As of 2025, Kodiak AI, Inc. Warrants (KDKRW) had total assets of $159.4M including $126.0M in current assets.
Kodiak AI, Inc. Warrants (KDKRW) carries total debt of $36.4M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Kodiak AI, Inc. Warrants (KDKRW) 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. Warrants (KDKRW) 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.