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Kodiak AI vs Merlin: KDK and MRLN compared
Kodiak AI is the larger company: $3.0M of revenue in its latest quarter (Q3 2026) against $2.2M for Merlin (Q2 2026). Kodiak AI is growing faster (+286% against -29% a year earlier).
Where the money goes: KDK and MRLN
Kodiak AI (KDK) · Q3 2026
Kodiak AI, Q3 2026: revenue $3.0M (+286% year over year), net earnings $27.4M, operating cash flow −$35.2M. The chart follows the revenue to costs, profit and cash.
Merlin (MRLN) · Q2 2026
Merlin, Q2 2026: revenue $2.2M (-29% year over year), net loss $58.4M, operating cash flow −$27.3M. The chart follows the revenue to costs, profit and cash.
| Kodiak AI (KDK) | Merlin (MRLN) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 2026 |
| Revenue | $3.0M | $2.2M |
| Revenue growth, Y/Y | +286% | -29% |
| Operating margin | n/m | n/m |
| Net earnings | $27.4M | −$58.4M |
| Net margin | 923.3% | — |
| Operating cash flow | −$35.2M | −$27.3M |
Questions
Which is bigger, Kodiak AI or Merlin?
Kodiak AI is the larger company: $3.0M of revenue in its latest quarter (Q3 2026) against $2.2M for Merlin (Q2 2026).
Is Kodiak AI or Merlin growing faster?
Kodiak AI is growing faster (+286% against -29% a year earlier).
More: Kodiak AI earnings · how Kodiak AI makes money · Merlin earnings · how Merlin makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 6, 2026; 10-Q filed Aug 14, 2026). Fiscal quarters can end on different dates. Not investment advice.