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KOD logoKodiak Sciences Inc.(KOD)Earnings, Financials & Key Ratios

KOD•NASDAQ
$43.68
$2.31B mkt cap·Price updated May 7, 2026
SectorHealthcareIndustryBiotechnologySub-IndustryOphthalmology Therapies and Delivery
AboutKodiak Sciences Inc., a clinical stage biopharmaceutical company, researches, develops, and commercializes therapeutics to treat retinal diseases. Its lead product candidate is KSI-301, an anti-vascular endothelial growth factor antibody biopolymer that is in Phase IIb/III clinical study to treat wet age-related macular degeneration (AMD), as well as for the treatment of diabetic macular edema, naïve macular edema due to retinal vein occlusion, and non-proliferative diabetic retinopathy. The company's preclinical stage product candidate includes KSI-501, a bispecific conjugate to treat retinal diseases with an inflammatory component; and KSI-601, a triplet inhibitor for the treatment of dry AMD. The company was formerly known as Oligasis, LLC and changed its name to Kodiak Sciences Inc. in September 2015. Kodiak Sciences Inc. was incorporated in 2009 and is based in Palo Alto, California.Show more
  • Revenue$0
  • EBITDA-$160M+36.3%
  • Net Income-$176M+32.4%
  • EPS (Diluted)-3.35+32.6%
  • ROE-84.7%-14.1%
  • ROIC-130.69%-87.0%
  • Debt/Equity0.47-31.5%
Technical→

KOD Key Insights

Kodiak Sciences Inc. (KOD) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Momentum leader: RS Rating 97 (top 3%)

✗Weaknesses

  • ✗Weak Piotroski F-Score: 3/9
  • ✗Expensive at 15.3x book value
  • ✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

KOD Price & Volume

Kodiak Sciences Inc. (KOD) stock price & volume — 10-year historical chart

Loading chart...

KOD Growth Metrics

Kodiak Sciences Inc. (KOD) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years-
3 Years-
TTM-

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM-13.42%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM-12.88%

Return on Capital

10 Years-205.14%
5 Years-39.57%
3 Years-49.89%
Last Year-49.98%

KOD Recent Earnings

Kodiak Sciences Inc. (KOD) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 5/12 qtrs (42%)
Q2 2026Latest
Mar 31, 2026
EPS
$1.04
Est $1.02
-2.0%
Revenue
—
Q4 2025
Nov 13, 2025
EPS
$1.16
Est $1.07
-8.4%
Revenue
—
Q3 2025
Aug 13, 2025
EPS
$1.03
Est $1.01
-2.0%
Revenue
—
Q2 2025
May 14, 2025
EPS
$1.09
Est $0.89
-22.5%
Revenue
—
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMar 31, 2026
$1.04vs $1.02-2.0%
—
Q4 2025Nov 13, 2025
$1.16vs $1.07-8.4%
—
Q3 2025Aug 13, 2025
$1.03vs $1.01-2.0%
—
Q2 2025May 14, 2025
$1.09vs $0.89-22.5%
—
Based on last 12 quarters of dataView full earnings history →

KOD Peer Comparison

Kodiak Sciences Inc. (KOD) competitors in Ophthalmology Therapies and Delivery — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
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Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
ADVM logoADVMAdverum Biotechnologies, Inc.Direct Competitor96.26M4.36-0.66-72.22%-189.84%1.30
OCUL logoOCULOcular Therapeutix, Inc.Direct Competitor2.12B9.68-6.82-18.67%-5.58%-64.55%0.12
REGN logoREGNRegeneron Pharmaceuticals, Inc.Product Competitor73.68B709.1017.100.99%29.65%14.32%0.09
RGNX logoRGNXREGENXBIO Inc.Product Competitor527.45M10.42-2.27-7.66%-110.29%-110.2%0.32
GMAB logoGMABGenmab A/SProduct Competitor16.67B27.0617.57-82.7%31.85%13.99%0.93
ABBV logoABBVAbbVie Inc.Product Competitor358.42B202.6485.508.57%6.91%62.15%
NVO logoNVONovo Nordisk A/SProduct Competitor203.48B45.7912.646.43%37.2%66.36%0.67
ILMN logoILMNIllumina, Inc.Supply Chain21.07B138.7125.45-0.78%19.43%32.84%0.94

Compare KOD vs Peers

Kodiak Sciences Inc. (KOD) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs ADVM

Most directly comparable listed peer for KOD.

Scale Benchmark

vs ABBV

Larger-name benchmark to compare KOD against a more recognizable public peer.

Peer Set

Compare Top 5

vs ADVM, OCUL, REGN, RGNX

KOD Income Statement

Kodiak Sciences Inc. (KOD) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Sales/Revenue0000000000
Revenue Growth %----------
Cost of Goods Sold257K549K490K911K4.21M8.71M11M25.95M26.71M26.49M
COGS % of Revenue----------
Gross Profit
-257K▲ 0%
-549K▼ 113.6%
-490K▲ 10.7%
-911K▼ 85.9%
-4.21M▼ 361.9%
-8.71M▼ 107.0%
-11M▼ 26.3%
-25.95M▼ 135.9%
-26.71M▼ 2.9%
-26.49M▲ 0%
Gross Margin %----------
Gross Profit Growth %--113.62%10.75%-85.92%-361.91%-107.01%-26.29%-135.86%-2.93%-
Operating Expenses17.15M25.52M26.37M48.28M131.8M258.34M330.38M251.37M160.14M194.73M
OpEx % of Revenue----------
Selling, General & Admin3.1M3.5M7.58M10.77M24.41M41M62.79M71.02M34.05M26.07M
SG&A % of Revenue----------
Research & Development14.05M22.02M18.79M37.51M107.39M217.34M267.59M206.3M126.09M168.65M
R&D % of Revenue----------
Other Operating Expenses25K-1.23M-4.07M0000-25.95M00
Operating Income
-17.15M▲ 0%
-25.52M▼ 48.8%
-26.37M▼ 3.3%
-49.19M▼ 86.5%
-136.01M▼ 176.5%
-267.05M▼ 96.4%
-341.38M▼ 27.8%
-277.32M▲ 18.8%
-186.85M▲ 32.6%
-221.21M▲ 0%
Operating Margin %----------
Operating Income Growth %--48.8%-3.34%-86.51%-176.49%-96.35%-27.83%18.76%32.62%-
EBITDA-16.89M-24.97M-25.88M-48.28M-131.8M-258.34M-330.38M-251.37M-160.14M-194.73M
EBITDA Margin %----------
EBITDA Growth %--47.82%-3.65%-86.52%-172.99%-96.01%-27.88%23.91%36.29%-9.79%
D&A (Non-Cash Add-back)257K549K490K911K4.21M8.71M11M25.95M26.71M26.49M
EBIT-17.13M-26.75M-35.92M-47.36M-133.07M-266.97M-333.81M-260.48M-176.21M-217.34M
Net Interest Income0001.56M2.88M276K7.05M16.72M11.15M5.89M
Interest Income0001.57M2.9M298K7.07M16.73M11.15M5.89M
Interest Expense6K1.19M5.52M8K25K22K18K13K00
Other Income/Expense19K-2.42M-15.07M1.82M2.91M61K7.56M16.83M10.64M3.88M
Pretax Income
-17.13M▲ 0%
-27.94M▼ 63.1%
-41.44M▼ 48.3%
-47.37M▼ 14.3%
-133.1M▼ 181.0%
-266.99M▼ 100.6%
-333.82M▼ 25.0%
-260.49M▲ 22.0%
-176.21M▲ 32.4%
-217.34M▲ 0%
Pretax Margin %----------
Income Tax31K-45K00000000
Effective Tax Rate %-0.18%0.16%0%0%0%0%0%0%0%0%
Net Income
-17.13M▲ 0%
-27.94M▼ 63.1%
-41.44M▼ 48.3%
-47.37M▼ 14.3%
-133.1M▼ 181.0%
-266.99M▼ 100.6%
-333.82M▼ 25.0%
-260.49M▲ 22.0%
-176.21M▲ 32.4%
-217.34M▲ 0%
Net Margin %----------
Net Income Growth %--63.06%-48.35%-14.29%-181%-100.6%-25.03%21.97%32.36%-13.42%
Net Income (Continuing)-17.13M-27.94M-41.44M-47.37M-133.1M-266.99M-333.82M-260.49M-176.21M-217.34M
Discontinued Operations0000000000
Minority Interest0000000000
EPS (Diluted)
-2.30▲ 0%
-1.05▲ 54.3%
-1.16▼ 10.5%
-1.23▼ 6.0%
-2.91▼ 136.6%
-5.16▼ 77.3%
-6.39▼ 23.8%
-4.97▲ 22.2%
-3.35▲ 32.6%
-4.11▲ 0%
EPS Growth %-54.35%-10.48%-6.03%-136.59%-77.32%-23.84%22.22%32.6%-12.88%
EPS (Basic)-2.30-1.05-1.16-1.23-2.91-5.16-6.39-4.97-3.35-
Diluted Shares Outstanding7.44M26.56M35.87M37.85M45.74M51.79M52.25M52.41M52.58M52.86M
Basic Shares Outstanding7.44M26.56M35.87M37.85M45.74M51.79M52.25M52.41M52.58M52.86M
Dividend Payout Ratio----------

KOD Balance Sheet

Kodiak Sciences Inc. (KOD) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Total Current Assets10.19M1.59M90.45M339.23M972M734.81M486M289.31M171.94M75.73M
Cash & Short-Term Investments9.62M1.4M88.25M336.48M968.97M731.51M478.93M285.51M168.07M72.04M
Cash Only9.62M1.4M88.25M211.8M944.4M731.51M190.43M285.51M168.07M72.04M
Short-Term Investments000124.68M24.58M0288.5M000
Accounts Receivable0000000000
Days Sales Outstanding----------
Inventory0000000000
Days Inventory Outstanding----------
Other Current Assets002.19M2.75M03.3M7.07M3.8M3.86M3.69M
Total Non-Current Assets1.92M1.65M1.74M19.64M95.34M169.41M180.62M190.06M163.64M142.34M
Property, Plant & Equipment1.78M1.51M1.1M2.79M78.81M108.07M115.75M175.02M148.73M127.48M
Fixed Asset Turnover---------0.00x
Goodwill0000000000
Intangible Assets0000000000
Long-Term Investments140K140K140K11.84M06.32M6.32M6.32M6.18M18.55M
Other Non-Current Assets8K0503K5.01M16.53M55.01M58.55M8.72M8.73M40.91M
Total Assets
12.11M▲ 0%
3.24M▼ 73.2%
92.19M▲ 2741.8%
358.87M▲ 289.3%
1.07B▲ 197.4%
904.22M▼ 15.3%
666.63M▼ 26.3%
479.37M▼ 28.1%
335.58M▼ 30.0%
218.07M▲ 0%
Asset Turnover---------0.00x
Asset Growth %--73.22%2741.83%289.27%197.42%-15.28%-26.28%-28.09%-30%-139.03%
Total Current Liabilities2.51M9.16M4.83M11.71M31.42M64.68M52.5M41.73M25.57M42.43M
Accounts Payable1.07M3.36M1.05M2.62M8.65M12.43M9.13M13.61M3.92M10.37M
Days Payables Outstanding1.53K2.23K782.141.05K749.95520.87302.92191.4353.5189.18
Short-Term Debt000434K03.93M9.93M9.77M011.75M
Deferred Revenue (Current)0000000000
Other Current Liabilities84K-108K05.55M042.13M27.41M12.27M020.3M
Current Ratio4.06x0.17x18.74x28.97x30.93x11.36x9.26x6.93x6.72x6.72x
Quick Ratio4.06x0.17x18.74x28.97x30.93x11.36x9.26x6.93x6.72x6.72x
Cash Conversion Cycle----------
Total Non-Current Liabilities50.69M62.82M530K1.8M175.17M176.22M177.97M171.86M159.72M151.95M
Long-Term Debt09.97M00099.94M100M100M050.45M
Capital Lease Obligations103K001.5M75.03M76.06M77.81M71.86M59.72M170.33M
Deferred Tax Liabilities0000000000
Other Non-Current Liabilities50.59M52.85M530K295K100.15M211K162K0100M304.5M
Total Liabilities53.2M71.98M5.36M13.51M206.6M240.9M230.46M213.59M185.29M194.38M
Total Debt185K10.08M01.94M77.4M179.94M187.73M181.63M70.34M62.2M
Net Debt-9.44M8.69M-88.25M-209.86M-866.99M-551.57M-2.7M-103.88M-97.73M-9.84M
Debt / Equity---0.01x0.09x0.27x0.43x0.68x0.47x0.47x
Debt / EBITDA----------0.32x
Net Debt / EBITDA---------0.05x
Interest Coverage-2858.50x-21.54x-4.78x-6148.75x-5440.28x-12138.68x-18965.50x-21332.38x--
Total Equity
-41.08M▲ 0%
-68.74M▼ 67.3%
86.83M▲ 226.3%
345.36M▲ 297.7%
860.75M▲ 149.2%
663.32M▼ 22.9%
436.17M▼ 34.2%
265.78M▼ 39.1%
150.29M▼ 43.5%
23.69M▲ 0%
Equity Growth %--67.31%226.32%297.73%149.23%-22.94%-34.24%-39.06%-43.45%-252.78%
Book Value per Share-5.52-2.592.429.1218.8212.818.355.072.860.45
Total Shareholders' Equity-41.08M-68.74M86.83M345.36M860.75M663.32M436.17M265.78M150.29M23.69M
Common Stock1K1K4K5K5K5K5K5K5K5K
Retained Earnings-41.39M-69.32M-110.77M-158.13M-291.23M-558.22M-892.04M-1.15B-1.33B-1.5B
Treasury Stock0000000000
Accumulated OCI00010K53K0-1.31M000
Minority Interest0000000000

KOD Cash Flow Statement

Kodiak Sciences Inc. (KOD) cash flow — operating, investing & free cash flow history

Line itemDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Cash from Operations-16.05M-17.66M-29.03M-39.15M-83.43M-182.27M-206.46M-154.18M-117.32M-117.32M
Operating CF Margin %----------
Operating CF Growth %--10.02%-64.44%-34.84%-113.12%-118.48%-13.27%25.32%23.91%-52.99%
Net Income-17.13M-27.94M-41.44M-47.37M-133.1M-266.99M-333.82M-260.49M-176.21M-217.34M
Depreciation & Amortization257K549K490K911K4.21M8.71M11M25.95M26.71M26.49M
Stock-Based Compensation272K275K2.67M6.11M30.67M61.38M088.56M60.21M40.15M
Deferred Taxes01.26M10.17M0-51K00000
Other Non-Cash Items763K1.16M5.48M-241K49K198K104.4M-840K355K15.96M
Working Capital Changes556K7.04M-6.39M1.44M14.79M14.43M11.96M-7.36M-28.39M8.03M
Change in Receivables0000000000
Change in Inventory0000000000
Change in Payables23K2.28M-2.32M1.57M5.22M-2.09M1.66M5.6M-9.69M7.08M
Cash from Investing-771K-209K-581K-137M104.83M-38.8M-336.51M249.23M-755K-587K
Capital Expenditures-771K-209K-581K-437K-7M-63.3M-47.36M-41.43M-400K-587K
CapEx % of Revenue----------
Acquisitions000136.56K3.18M00-290.65K00
Investments----------
Other Investing00-503K-136.56K-3.18M0616K290.65K00
Cash from Financing-120K9.64M116.47M299.69M717.38M8.18M1.9M31K501K1.46M
Debt Issued (Net)-62K9.9M32.89M-48K-5K00000
Equity Issued (Net)001000K1000K1000K01000K242K501K1.46M
Dividends Paid0000000000
Share Repurchases000-132K-487K00000
Other Financing-58K-266K-176K2.25M105.85M8.18M-49K-211K00
Net Change in Cash
-16.94M▲ 0%
-8.23M▲ 51.4%
86.86M▲ 1155.8%
123.54M▲ 42.2%
738.78M▲ 498.0%
-212.89M▼ 128.8%
-541.08M▼ 154.2%
95.07M▲ 117.6%
-117.57M▼ 223.7%
-125.83M▲ 0%
Free Cash Flow
-16.82M▲ 0%
-17.86M▼ 6.2%
-29.61M▼ 65.8%
-39.58M▼ 33.7%
-90.43M▼ 128.4%
-245.57M▼ 171.6%
-253.82M▼ 3.4%
-195.61M▲ 22.9%
-117.72M▲ 39.8%
-127.29M▲ 0%
FCF Margin %----------
FCF Growth %--6.22%-65.76%-33.67%-128.45%-171.57%-3.36%22.93%39.82%13.56%
FCF per Share-2.26-0.67-0.83-1.05-1.98-4.74-4.86-3.73-2.24-2.24
FCF Conversion (FCF/Net Income)0.94x0.63x0.70x0.83x0.63x0.68x0.62x0.59x0.67x0.59x
Interest Paid0000022K0000
Taxes Paid0000000000

KOD Key Ratios

Kodiak Sciences Inc. (KOD) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric20172018201920202021202220232024TTM
Return on Equity (ROE)--458.06%-21.92%-22.07%-35.04%-60.72%-74.22%-84.7%-917.34%
Return on Invested Capital (ROIC)---55.03%-157.84%-379.67%-93.92%-69.87%-130.69%-130.69%
Debt / Equity--0.01x0.09x0.27x0.43x0.68x0.47x0.47x
Interest Coverage-21.54x-4.78x-6148.75x-5440.28x-12138.68x-18965.50x-21332.38x--
FCF Conversion0.63x0.70x0.83x0.63x0.68x0.62x0.59x0.67x0.59x

KOD SEC Filings & Documents

Kodiak Sciences Inc. (KOD) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Mar 31, 2026·SEC

Material company update

Mar 27, 2026·SEC

Material company update

Dec 18, 2025·SEC

10-K Annual Reports

5
FY 2026

Mar 31, 2026·SEC

FY 2025

Mar 27, 2025·SEC

FY 2024

Mar 28, 2024·SEC

10-Q Quarterly Reports

6
FY 2025

Nov 13, 2025·SEC

FY 2025

Aug 13, 2025·SEC

FY 2025

May 14, 2025·SEC

KOD Frequently Asked Questions

Kodiak Sciences Inc. (KOD) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Kodiak Sciences Inc. (KOD) grew revenue by 0.0% over the past year. Growth has been modest.

Kodiak Sciences Inc. (KOD) reported a net loss of $217.3M for fiscal year 2024.

Dividend & Returns

Kodiak Sciences Inc. (KOD) has a return on equity (ROE) of -84.7%. Negative ROE indicates the company is unprofitable.

Kodiak Sciences Inc. (KOD) had negative free cash flow of $127.3M in fiscal year 2024, likely due to heavy capital investments.

Explore More KOD

Kodiak Sciences Inc. (KOD) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

DCF intrinsic value, peer multiples & estimates

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