Kodiak AI (KDK) investor relations material

Company overview and business model

• Develops AI-powered autonomous vehicle technology for commercial trucking and public sector applications, with a focus on safety, efficiency, and scalability.

• Commercializes the Kodiak Driver, a virtual driver combining advanced AI software and modular, vehicle-agnostic hardware.

• Launched a Driver-as-a-Service (DaaS) model in December 2024, generating recurring revenue via per-vehicle or per-mile license fees.

• Achieved a milestone by deploying customer-owned, driverless trucks in commercial service with Atlas Energy Solutions.

• Serves both commercial trucking clients and the U.S. Army, with over 3,000 cumulative hours of paid driverless operations as of August 2025.

Financial performance and metrics

• Reported net losses of $69.5 million in 2024, $56.9 million in 2023, and $241.9 million for the six months ended June 30, 2025.

• Revenues were $14.9 million in 2024 (down 12% from 2023), with 89% from U.S. Army contracts; $2.0 million for the six months ended June 30, 2025.

• Cash and cash equivalents as of September 30, 2025, were $146.2 million, but not sufficient to meet capital requirements for at least one year under the current plan.

• Expects to require additional funding through debt or equity offerings to support operations and growth.

Use of proceeds and capital allocation

• Will not receive proceeds from the sale of shares by selling securityholders; proceeds from warrant exercises (up to $756.5 million if all exercised for cash) will be used for general corporate purposes.

• Exercise prices for warrants range from $11.50 to $12.00 per share, with potential downward adjustments based on market price performance.

• If all warrants are exercised at the lowest contemplated prices, proceeds would be approximately $453.6 million.