Stock Track | Kodiak Robotics Plummets 5.45% in Pre-market Following Disappointing First Earnings Report

Stock Track
Nov 14

Kodiak Robotics (KDK), a self-driving truck technology company, saw its stock plummet 5.45% in pre-market trading on Friday, continuing its downward trend following the release of its first quarterly earnings report since completing its SPAC merger. The company's shares had already fallen 19% on Thursday, closing at $6.52.

The earnings report revealed a pretax net loss of $270 million, which included several one-time merger-related charges. The adjusted loss was approximately $34 million, close to analysts' expectations. Despite this, investors seem concerned about the company's financial position and growth prospects. Kodiak AI currently has only 10 driverless trucks deployed and generated modest third-quarter sales of $770,000.

Analysts remain cautiously optimistic about Kodiak's future, with some maintaining "Buy" ratings on the stock. However, the company's current cash balance of $146 million provides only about 12 months of funding at the current burn rate of $35-40 million per quarter. As Kodiak aims to deploy 100 autonomous trucks and launch long-haul driverless operations in the second half of 2026, investors will be closely watching the company's progress and cash management in the coming months.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10