Filing Flows

Filing Flows › Companies › Kodiak AI › Cash flow

Kodiak AI cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$38.0M in Q3 2026 · −$145M over twelve months

Operating cash flow−$35.2M
Capital spending−$2.8M
Free cash flow−$38.0M
Cash / net income-1.3×

Analysis

In Q3 2026, Kodiak AI generated −$35.2M of operating cash flow and spent $2.8M on capital projects, leaving free cash flow of −$38.0M. That is $2.0M more than in Q3 2025 (−$40.0M).

Over the twelve months to Sep 30, 2026, operating cash flow was −$123M; the largest uses were operating cash flow ($123M), other investing ($80.6M), net borrowing (+) / repaid (−) ($22.8M); besides operations, cash came from other financing ($131M), shares issued ($2.2M); the cash balance fell by $115M.

Operating cash flow was −$35.2M against net income of $27.4M — -1.3× profit, less cash than reported earnings, worth checking against working capital. The largest differences: stock-based pay +$8.8M, accrued liabilities +$5.1M, depreciation & amortization +$1.9M.

Free cash flow

Kodiak AI: free cash flow by quarterKodiak AI: free cash flow by quarter−$17.2MQ4 2024−$18.8MQ1 2025−$23.3MQ2 2025−$40.0MQ3 2025−$34.4MQ4 2025−$35.0MQ1 2026−$38.1MQ2 2026−$38.0MQ3 2026
Operating cash flow less capital spending.
Kodiak AI: operating cash flow against capital spendingKodiak AI: operating cash flow against capital spendingOperating cash flowCapital spending−$14.7M$2.4MQ4 2024−$16.5M$2.3MQ1 2025−$20.4M$2.9MQ2 2025−$33.4M$6.6MQ3 2025−$24.2M$10.1MQ4 2025−$29.5M$5.5MQ1 2026−$34.1M$3.9MQ2 2026−$35.2M$2.8MQ3 2026
Latest (Q3 2026): Operating cash flow −$35.2M, Capital spending $2.8M.

Capital allocation, year by year

Kodiak AI: where the cash came from (up) and went (down), by fiscal yearKodiak AI: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingFY2023: Operating cash flow −$43.8MFY2023: Net borrowing $3.1MFY2023: Shares issued $500MFY2023: Capital spending −$3.3M$503MFY2023FY2024: Operating cash flow −$51.0MFY2024: Net borrowing −$2.2MFY2024: Shares issued $172KFY2024: Capital spending −$3.2M$172KFY2024FY2025: Operating cash flow −$94.4MFY2025: Net borrowing $73.5MFY2025: Shares issued $146MFY2025: Capital spending −$22.0M$220MFY2025
Over these 3 years operating cash flow totalled −$189M; the largest uses were operating cash flow ($189M) and capital spending ($28.5M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$114M
Debt$42.7M
Net cash$70.9M
Due within a year$11.1M
Cash runway9 months

Kodiak AI is burning cash: its operations consume cash, a free cash flow of −$145M a year at the current rate against $114M of cash and investments: a runway of about 9 months; $11.1M of debt also comes due within a year, which would need refinancing or new money before any new financing.

Kodiak AI: debt maturities by year (FY2025)Kodiak AI: debt maturities by year (FY2025)$11.1MYear 1$808KYear 2$8.4MYear 3$20.0MYear 4$2.9MYear 5
Principal due in each year as disclosed in the annual report, against $114M of cash and investments now.

Where the cash came from and went

Kodiak AI: sources (+) and uses (−) of cash, Q3 2026Kodiak AI: sources (+) and uses (−) of cash, Q3 2026Operating cash flow−$35.2MOther investing$22.0MCash drawn (+) / kept (−)$15.9MCapital spending−$2.8MShares issued$581KOther financing−$317KNet borrowing (+) / repaid (−)−$161K
Kodiak AI: sources (+) and uses (−) of cash, TTM to Q3 2026Kodiak AI: sources (+) and uses (−) of cash, TTM to Q3 2026Other financing$131MOperating cash flow−$123MCash drawn (+) / kept (−)$115MOther investing−$80.6MNet borrowing (+) / repaid (−)−$22.8MCapital spending−$22.4MShares issued$2.2M

From profit to cash

Kodiak AI: net income to operating cash flow, Q3 2026Kodiak AI: net income to operating cash flow, Q3 2026Net income$27.4MDepreciation & amortization$1.9MStock-based pay$8.8MGains on disposals$133KReceivables$235KPayables−$530KAccrued liabilities$5.1MPrepaid and other assets−$157KOther liabilities−$164KOperating cash flow−$35.2M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026−$35.2M−$2.8M−$161K$581K$15.9M−$38.0M
Q2 2026−$34.1M−$3.9M−$688K$469K$18.2M−$38.1M
Q1 2026−$29.5M−$5.5M−$364K$985K−$14.2M−$35.0M
Q4 2025−$24.2M−$10.1M−$21.6M$201K$95.4M−$34.4M
Q3 2025−$33.4M−$6.6M$8.5M$335K−$126M−$40.0M
Q2 2025−$20.4M−$2.9M−$3.9M$503K$519K−$23.3M
Q1 2025−$16.5M−$2.3M−$2.2M$383K$318K−$18.8M
Q4 2024−$14.7M−$2.4M—$128K$215K−$17.2M

Kodiak AI: income statement and cash flow

Kodiak AI, Q3 2026: revenue $3.0M (+286% year over year). The chart follows the revenue to costs, profit and cash.

Kodiak AI: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.