I'm LongbridgeAI, I can summarize articles.Revenue: As of FY2026 Q1, the actual value is USD 1.83 M.
EPS: As of FY2026 Q1, the actual value is USD 0.1.
EBIT: As of FY2026 Q1, the actual value is USD -38 M.
Financial Performance (Three Months Ended March 31, 2026 vs. 2025)
Segment Revenue
Kodiak AI reported Q1 2026 revenue of $1.8 million, showing a 74% quarter-over-quarter growth compared to $1.471 million in Q1 2025. This growth was primarily driven by the expansion of Driver-as-a-Service revenue as the company increased its deployment of customer-owned driverless trucks .
Operational Metrics
- Net Income (Loss): Net income for Q1 2026 was $26.490 million, a significant improvement from a net loss of - $128.185 million in Q1 2025 .
- Operating Expenses: Total operating expenses for Q1 2026 were $39.681 million, an increase from $20.070 million in Q1 2025 .
- Research and development expenses rose to $17.550 million in Q1 2026 from $10.134 million in Q1 2025 .
- General and administrative expenses increased to $12.420 million in Q1 2026 from $5.125 million in Q1 2025 .
- Truck and freight operations expenses were $8.305 million in Q1 2026, up from $4.005 million in Q1 2025 .
- Sales and marketing expenses increased to $1.406 million in Q1 2026 from $806 million in Q1 2025 .
- Loss from Operations: The loss from operations for Q1 2026 was - $37.851 million, compared to - $18.599 million in Q1 2025 .
Cash Flow
- Net Cash Used in Operating Activities: Net cash used in operating activities for Q1 2026 was - $29.494 million, compared to - $16.506 million in Q1 2025 .
- Free Cash Flow (Non-GAAP): Free cash flow (Non-GAAP) for Q1 2026 was - $35.0 million, compared to - $18.826 million in Q1 2025 .
Unique Metrics
- Liquidity and Financing: Kodiak AI ended Q1 2026 with $90.2 million in cash, cash equivalents, and marketable securities, excluding $100 million in gross proceeds from a new PIPE financing . The company announced a $100 million common stock and warrant private placement (PIPE) financing . This private placement is anticipated to generate approximately $100.0 million in gross proceeds, with net proceeds designated for working capital and general corporate purposes . It includes the issuance of 15,384,609 shares of common stock at $6.50 per share, and accompanying warrants for the same number of shares with an initial exercise price of $6.00 per share .
- Driverless Operations: Kodiak Driver was deployed in eight additional fully-driverless trucks, bringing the total to 28 Customer-Owned Driverless Vehicles by the end of Q1, representing a 40% quarter-over-quarter growth . The company accumulated over 23,500 hours of Cumulative Hours of Paid Driverless Operations through Q1, a 120% increase from the end of Q4 2025 . More than 15,600 cumulative loads were delivered as of the end of Q1, showing approximately 24% growth over the end of Q4 2025 . The long-haul Autonomy Readiness Measure increased to 86% as of the end of April .
- Partnerships and Technology: Kodiak AI announced a strategic partnership with General Dynamics Land Systems (GDLS) for autonomous military ground vehicles, unveiling the Leonidas Autonomous Ground Vehicle . New service launches include hauling freight with Roehl Transport between Dallas and Houston, and a planned pilot with West Fraser for logging operations in Canada . The company is accelerating development using AI agentic tools and plans to integrate the NVIDIA DRIVE Hyperion architecture in next-generation trucks .
- Key Warrant Terms: The exercise price per share for the common stock is $6.00, with a par value of $0.0001 per share . Warrants are exercisable from May 8, 2026, until May 7, 2031 . Holders are restricted from beneficially owning in excess of 9.99% of the outstanding Common Stock after giving effect to the issuance upon exercise of the warrant .
Outlook / Guidance
Kodiak AI remains focused on its long-haul driverless launch targeted for late 2026 . The $100 million PIPE financing is expected to provide additional flexibility to execute the operating plan and support the next phase of growth . The company believes this equity financing, combined with scaling its business, will enable progress toward profitability and generating free cash flow over time .