-- The Kodiak Driver is now deployed in 20 fully driverless trucks, a 100%
increase over Q3. This represents the world's largest deployment of
customer-owned driverless trucks
-- Kodiak Driver-powered trucks have now driven a total of over 10,700
Cumulative Hours of Paid Driverless Operations
MOUNTAIN VIEW, Calif., March 10, 2026 (GLOBE NEWSWIRE) -- Kodiak AI, Inc. ("Kodiak" or the "Company") (Nasdaq: KDK), a leading provider of physical artificial intelligence ("AI"), with a focus on AI-powered autonomous vehicle technology, today announced results for the fourth quarter and full year, which ended December 31, 2025. During the quarter, the Company achieved key milestones as it continues to scale its autonomous driving system, the Kodiak Driver. The Kodiak Driver is designed to address major challenges across the long-haul trucking, industrial trucking, and defense industries, including labor shortages, rising costs, and the need for greater safety and efficiency.
"Our fourth quarter results exceeded our expectations across the board," said Don Burnette, Founder and Chief Executive Officer of Kodiak. "2025 was a transformational year for Kodiak as we executed on our operational milestones and technological roadmap. We ended the year with the world's largest deployment of customer-owned driverless trucks: in just over a year, we have scaled our deployment from two trucks to 20. Our accomplishments were made possible by our unique physical AI, which we have commercialized safely and reliably while leveraging our manufacturing partners for scale. We see tremendous opportunity to scale our physical AI across applications, as we remain focused on our long-haul driverless launch by the end of 2026."
Fourth Quarter and Year End Results and Business Highlights:
-- Deployed 10 additional Kodiak Driver-powered trucks to Atlas Energy
Solutions, which now has a fleet of 20 fully driverless trucks in
operation. This represents a 100% increase from the third quarter
-- Made meaningful progress toward closing its safety case to launch
long-haul driverless operations by the end of 2026, with the Kodiak
Autonomy Readiness Measure at 84% as of February 2026
-- Accumulated an industry-leading total of over 10,700 Cumulative Hours of
Paid Driverless Operations as of the end of the fourth quarter,
representing a 106% increase from the end of the third quarter
-- Introduced advanced capabilities that allow the Kodiak Driver to pull
three trailers with one tractor, a first in the autonomous vehicle
industry, enabling customers to triple their hauling capacity
-- Announced a strategic technology collaboration with Bosch to develop a
next-generation, redundant autonomous platform with integrated hardware
designed for automotive-grade reliability and manufacturing at scale
-- Awarded a contract with the U.S. Marine Corps to integrate the Kodiak
Driver into the ROGUE-Fires carrier vehicle
-- Participated in two high-profile Pentagon demonstration events: the
Army's xTech Overwatch demonstration in Texas and the Defense Innovation
Unit's Project GI in Hawaii
-- Launched operations between Dallas-Fort Worth and El Paso, the company's
second route beyond a single hours of service
-- Launched a new pilot with a major Fortune 500 private fleet, hauling
freight between Dallas and Houston, as Kodiak prepares its customers for
a seamless transition to driverless long-haul operations
-- Q4 Revenue of $1.1 million, representing 37% quarter-over-quarter growth
-- Q4 Net cash used in operating activities of $24.2 million
-- Q4 Free Cash Flow (Non-GAAP) of negative $34 million, better than
guidance of negative $36 to $38 million
-- $30 million debt refinancing, which provided additional capital, lowered
interest rates, extended maturity, and enhanced financial flexibility
-- Ended Q4 with $120.7 million in cash and cash equivalents and marketable
securities including net proceeds from debt refinancing
"Our financial results for the fourth quarter underscore the strength of our business model, with strong execution across revenue, deployment, and cash discipline," said Surajit Datta, Chief Financial Officer of Kodiak. "In the fourth quarter, we grew revenue 37% over the prior quarter, outperformed our driverless trucks and Free Cash Flow guidance, strengthened our balance sheet through a debt refinancing and remained focused on scaling our Driver-as-a-Service and asset-light model. As we continue scaling truck deployments, driving cost efficiencies and reducing AV hardware costs, we are focused on achieving profitability and generating positive cash flow over time."
Upcoming Conferences
Management will present at the JP Morgan Industrials Conference on March 17, 2026 at 5:00 PM ET (2:00 PM PT). A live and archived webcast of the presentation will be available on Kodiak's Investor Relations section of the Company's website, https://kodiak.ai/investors.
Conference Call Information
Management will host a conference call to discuss the fourth quarter and full year results today at 5:00 PM ET (2:00 PM PT). To join the conference call please complete the registration form HERE.
The call may also be accessed through a live audio webcast on the Investor Relations section of the Company's website, https://kodiak.ai/investors. An audio replay will be available at the same location.
About Kodiak AI, Inc.
Kodiak AI, Inc. was founded in 2018 and is a leading provider of physical AI, with a focus on AI-powered autonomous vehicle technology, that is designed to help tackle some of the toughest driving jobs. Kodiak's driverless solution can help address the critical problem of safely transporting goods in the face of unprecedented supply chain challenges. Kodiak's vision is to become the trusted world leader in physical AI autonomous. Kodiak is committed to a safer and more efficient future for all through the commercialization of driverless trucking at scale. To that end, Kodiak developed the Kodiak Driver, a virtual driver that combines advanced AI-powered software with modular and vehicle-agnostic hardware designed to help address Kodiak's customers' needs. The Kodiak Driver is not just an idea--it is operating without a human driver today. Kodiak serves customers in the long-haul trucking, industrial trucking, and defense industries. In 2024, Kodiak believes it achieved a historic milestone by becoming the first company to deploy customer-owned and -operated driverless trucks in commercial service.
For more information about Kodiak, please visit https://kodiak.ai/investors.
Contacts
Kodiak Media Relations
Daniel Goff
VP of External Affairs
+1 646-515-3933
dan@kodiak.ai
Stacy Morris
Futurista Communications for Kodiak
+1 310-415-9188
stacy.morris@futuristacommunications.com
Kodiak Investor Relations
Lauren Sloane
The Blueshirt Group for Kodiak
Lauren@blueshirtgroup.com
Forward Looking Statements
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995, each as amended, including Kodiak's expectations, hopes, beliefs, intentions or strategies regarding the future. Forward-looking statements may be identified by the use of words such as "anticipate," "believe," "continue," "could," "estimate," "forecast," "intend," "expect," "may," "plan," "potential," "project," "seek," "should," "will," "would" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, statements regarding: Kodiak's operational and product roadmap, its relationships with partners and suppliers, and its ability to produce and deploy the Kodiak Driver at scale; expectations regarding Kodiak's expansion plans and opportunities, including the timing of launching driverless trucks for long-haul highways operations; and other expectations regarding Kodiak's future business and financial performance, such as Kodiak's approach to operational and financial discipline, its future cash flows, and path to profitability over time or at all. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Kodiak's management and are not predictions of actual performance. These forward-looking statements are not intended to serve as, and must not be relied upon by any investors as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Kodiak. These forward-looking statements are subject to a number of risks and uncertainties, including changes in business, market, financial, political and legal conditions; the rapid evolution of autonomous vehicle technology and flaws or errors in Kodiak's solutions or flaws in or misuse of autonomous vehicle technology in general; risks related to the rollout of Kodiak's business and the timing of expected business milestones; the effects of competition on Kodiak's business; supply shortages in the materials necessary for the production of the Kodiak Driver; risks related to working with third-party manufacturers for key components of the Kodiak Driver; risks related to the retrofitting of Kodiak's vehicles by third parties; the termination or suspension of any of Kodiak's contracts or the reduction in counterparty spending; delays in Kodiak's operational roadmap with
(MORE TO FOLLOW) Dow Jones Newswires
March 10, 2026 16:05 ET (20:05 GMT)
Comments