Kodiak AI Inc. reported GAAP net cash used in operating activities of $33.4 million for the three months ended September 30, 2025, compared to $15.6 million in the same period in 2024. For the nine months ended September 30, 2025, net cash used in operating activities was $70.2 million, up from $36.2 million in the prior year period. Free cash flow was negative $40.0 million for the quarter and negative $82.1 million for the nine-month period, compared to negative $15.7 million and negative $37.0 million, respectively, in 2024. Purchases of property and equipment totaled $6.6 million for the quarter and $11.9 million for the nine-month period, up from $0.1 million and $0.8 million in the comparable periods. During the period, Kodiak completed its merger with Ares Acquisition Corporation II, resulting in the formation of Kodiak AI Inc. The company generates revenues from providing Driver-as-a-Service (DaaS), delivering freight with Kodiak-owned autonomous trucks, and supplying ground autonomy solutions to the U.S. Army. Defense contract revenues remain episodic and may vary from period to period.