Kodiak AI Q4 Revenue $1.1M and Driverless Trucks Double to 20
Kodiak AI posted Q4 revenue of $1.1 million, up 37%, and grew its fleet to 20 customer-owned driverless trucks, marking 100% growth. The company ended 2025 with $121 million in cash, reported a GAAP operating loss of $39 million, and guided 2026 free cash flow of $-160M to $-170M.
1. Q4 Financial Results
Kodiak AI delivered Q4 revenue of $1.1 million, marking 37% quarter-over-quarter growth. GAAP operating loss totaled $39 million, with non-GAAP loss of $30 million excluding stock compensation, and capital expenditures reached $10 million, resulting in free cash flow of negative $34 million.
2. Driverless Truck Deployment
The company doubled its fleet to 20 customer-owned driverless trucks by quarter-end, achieving 100% growth and establishing the largest customer-owned deployment worldwide. Strategic partnerships with Bosch and Verizon enhanced its autonomous trucking ecosystem.
3. Cash Position and Refinancing
Kodiak ended 2025 with $121 million in cash and equivalents and upsized its debt facility to $30 million with no principal repayments due until 2028. It forecasts full-year 2026 free cash flow between negative $160 million and negative $170 million, and Q1 2026 between negative $36 million and negative $38 million.
4. Outlook and Milestones
Management remains on track for a long-haul driverless launch later this year as it closes out safety case requirements through simulation and real-world testing. Progress in defense contracts with the US Marine Corps and AI-driven development tools underscores its strategic execution.