Kodiak Robotics (NASDAQ: KDK) experienced a sharp 6.37% pre-market plunge on Thursday, as investors reacted to the company's disappointing third-quarter 2025 financial results released after market close on Wednesday. The autonomous vehicle technology provider's earnings report revealed significant challenges, raising concerns about the company's path to profitability.

The Q3 results fell far short of analyst expectations, with Kodiak reporting a quarterly loss of $3.89 per share, substantially wider than the consensus estimate of a $0.16 loss. Revenue for the quarter came in at a mere $770,000, missing Wall Street forecasts by an astonishing 99.84%. The company's net loss for the quarter expanded dramatically to $269.9 million, compared to a $19.1 million loss in the same period last year.

Despite reporting some operational progress, including the deployment of 10 fully driverless trucks and accumulating over 5,200 hours of paid driverless operations, investors appear to be focusing on Kodiak's substantial losses and revenue shortfall. The pre-market plunge reflects growing skepticism about the company's ability to monetize its technology at scale in the highly competitive autonomous driving sector, and indicates that the market is reassessing Kodiak's near-term financial prospects.