Kodiak AI (KDK)
Market Price (8/24/2026): $3.94 | Market Cap: $737.7 MilSector: Information Technology | Industry: Systems Software
Kodiak AI (KDK)
Market Price (8/24/2026): $3.94Market Cap: $737.7 MilSector: Information TechnologyIndustry: Systems Software
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -14% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -65% Megatrend and thematic driversMegatrends include Future of Freight, and Electric Vehicles & Autonomous Driving. Themes include Autonomous Trucks, and Autonomous Driving Technology. | Weak multi-year price returns2Y Excs Rtn is -85%, 3Y Excs Rtn is -121% Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.68 | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -150 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -2100% Expensive valuation multiplesP/SPrice/Sales ratio is 103x Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -56% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 372% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -1695%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -2062% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -46% Key risksKDK key risks include [1] its precarious financial viability, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -14% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -65% |
| Megatrend and thematic driversMegatrends include Future of Freight, and Electric Vehicles & Autonomous Driving. Themes include Autonomous Trucks, and Autonomous Driving Technology. |
| Weak multi-year price returns2Y Excs Rtn is -85%, 3Y Excs Rtn is -121% |
| Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.68 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -150 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -2100% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 103x |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -56% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 372% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -1695%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -2062% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -46% |
| Key risksKDK key risks include [1] its precarious financial viability, Show more. |
Qualitative Assessment
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Kodiak AI (KDK) stock has lost about 55% since 4/30/2026 because of the following key factors:
1. Persistent High Cash Burn and Operating Losses. Kodiak AI reported significant cash outflows, with net cash used in operating activities reaching $29.5 million in fiscal Q1 2026 and increasing to $34.1 million in fiscal Q2 2026. The company's non-GAAP free cash flow was negative $35.0 million in fiscal Q1 2026 and negative $38.1 million in fiscal Q2 2026. Furthermore, Kodiak AI incurred a GAAP loss from operations of $43.7 million in fiscal Q2 2026. This persistent and substantial cash burn, alongside a projected negative free cash flow of $39 million to $41 million for fiscal Q3 2026, suggests continued reliance on external financing and poses ongoing concerns for investors regarding the company's path to profitability.
2. Significant Earnings Per Share Miss and Net Loss for Common Stockholders. For fiscal Q2 2026, Kodiak AI reported an Earnings Per Share (EPS) loss of $0.50, which significantly missed the consensus analyst estimate of a $0.17 loss by $0.33. While the company posted a GAAP net income of $12.5 million in fiscal Q2 2026, this was primarily driven by a $58.3 million gain from the change in fair value of common stock warrants, not core operations. Critically, the net loss attributable to common stockholders for the same quarter was $37.7 million. This highlights that despite some accounting gains, the company continues to generate substantial losses for its common shareholders.
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Kodiak AI (KDK) stock has lost about 55% since 4/30/2026 because of the following key factors:
1. Persistent High Cash Burn and Operating Losses. Kodiak AI reported significant cash outflows, with net cash used in operating activities reaching $29.5 million in fiscal Q1 2026 and increasing to $34.1 million in fiscal Q2 2026. The company's non-GAAP free cash flow was negative $35.0 million in fiscal Q1 2026 and negative $38.1 million in fiscal Q2 2026. Furthermore, Kodiak AI incurred a GAAP loss from operations of $43.7 million in fiscal Q2 2026. This persistent and substantial cash burn, alongside a projected negative free cash flow of $39 million to $41 million for fiscal Q3 2026, suggests continued reliance on external financing and poses ongoing concerns for investors regarding the company's path to profitability.
2. Significant Earnings Per Share Miss and Net Loss for Common Stockholders. For fiscal Q2 2026, Kodiak AI reported an Earnings Per Share (EPS) loss of $0.50, which significantly missed the consensus analyst estimate of a $0.17 loss by $0.33. While the company posted a GAAP net income of $12.5 million in fiscal Q2 2026, this was primarily driven by a $58.3 million gain from the change in fair value of common stock warrants, not core operations. Critically, the net loss attributable to common stockholders for the same quarter was $37.7 million. This highlights that despite some accounting gains, the company continues to generate substantial losses for its common shareholders.
3. Negative Analyst Revisions and Price Target Reductions. During the period, Kodiak AI experienced several analyst downgrades and price target cuts. For instance, Chardan Capital reduced its price objective from $22.00 to $15.00 in May 2026, and Citigroup dropped its price target from $13.50 to $11.00 in May 2026. Weiss Ratings lowered its rating from "sell (d-)" to "sell (e+)" in July 2026, and Wall Street Zen downgraded the stock from "hold" to "sell" in August 2026. Northland Securities also cut its fiscal year 2026 EPS estimate to a loss of $0.89 per share from $0.68, further below the consensus. These downward revisions by analysts reflect growing skepticism about the company's financial outlook and its ability to achieve projected milestones within expected timelines.
4. Broader Market Selectivity in the AI Sector. The market has shown increasing selectivity, rewarding AI companies that demonstrate visible revenue and positive cash flow, while penalizing those still in heavy investment or development phases. The general market sentiment in August 2026 indicated that "companies whose AI investment is already generating visible cloud revenue and cash flow were rewarded this earnings season, while those still asking the market to wait were not." With rising US 10-year real yields nearing their highest level since 2008, the market has become more cautious, particularly impacting growth-heavy sectors like technology and companies with significant cash burn. This shift in investor preference contributes to a more challenging environment for companies like Kodiak AI, which are still heavily investing for future scale.
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Stock Movement Drivers
Fundamental Drivers
The -53.5% change in KDK stock from 4/30/2026 to 8/23/2026 was primarily driven by a -73.7% change in the company's P/S Multiple.| (LTM values as of) | 4302026 | 8232026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.48 | 3.94 | -53.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4 | 7 | 88.4% |
| P/S Multiple | 391.8 | 103.2 | -73.7% |
| Shares Outstanding (Mil) | 175 | 187 | -6.3% |
| Cumulative Contribution | -53.5% |
Market Drivers
4/30/2026 to 8/23/2026| Return | Correlation | |
|---|---|---|
| KDK | -53.5% | |
| Market (SPY) | 6.5% | 29.7% |
| Sector (XLK) | 14.9% | 23.8% |
Fundamental Drivers
The -56.8% change in KDK stock from 1/31/2026 to 8/23/2026 was primarily driven by a -6.6% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 1312026 | 8232026 | Change |
|---|---|---|---|
| Stock Price ($) | 9.11 | 3.94 | -56.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | � | 7 | 0.0% |
| P/S Multiple | � | 103.2 | 0.0% |
| Shares Outstanding (Mil) | 175 | 187 | -6.6% |
| Cumulative Contribution | 0.0% |
Market Drivers
1/31/2026 to 8/23/2026| Return | Correlation | |
|---|---|---|
| KDK | -56.8% | |
| Market (SPY) | 11.0% | 37.4% |
| Sector (XLK) | 27.6% | 30.6% |
Fundamental Drivers
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Market Drivers
7/31/2025 to 8/23/2026| Return | Correlation | |
|---|---|---|
| KDK | ||
| Market (SPY) | 22.2% | 25.9% |
| Sector (XLK) | 40.1% | 23.5% |
Fundamental Drivers
nullnull
Market Drivers
7/31/2023 to 8/23/2026| Return | Correlation | |
|---|---|---|
| KDK | ||
| Market (SPY) | 73.2% | 25.9% |
| Sector (XLK) | 109.4% | 23.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| KDK Return | - | - | - | - | 47% | -65% | -49% |
| Peers Return | 35% | -57% | 105% | 16% | 18% | 10% | 77% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 103% |
Monthly Win Rates [3] | |||||||
| KDK Win Rate | - | - | - | - | 50% | 12% | |
| Peers Win Rate | 71% | 25% | 53% | 53% | 56% | 29% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| KDK Max Drawdown | - | - | - | - | - | -65% | |
| Peers Max Drawdown | -12% | -63% | -38% | -39% | -41% | -33% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: AUR, GOOGL, APTV.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/21/2026 (YTD)
How Low Can It Go
KDK has limited trading history. Below is the Information Technology sector ETF (XLK) in its place.
| Event | XLK | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -25.7% | -18.8% |
| % Gain to Breakeven | 34.5% | 23.1% |
| Time to Breakeven | 65 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -17.0% | -7.8% |
| % Gain to Breakeven | 20.4% | 8.5% |
| Time to Breakeven | 92 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -10.0% | -9.5% |
| % Gain to Breakeven | 11.2% | 10.5% |
| Time to Breakeven | 15 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -33.1% | -24.5% |
| % Gain to Breakeven | 49.5% | 32.4% |
| Time to Breakeven | 246 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -31.2% | -33.7% |
| % Gain to Breakeven | 45.2% | 50.9% |
| Time to Breakeven | 78 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -23.8% | -19.2% |
| % Gain to Breakeven | 31.2% | 23.8% |
| Time to Breakeven | 100 days | 105 days |
In The Past
State Street Technology Select Sector SPDR ETF's stock fell -25.7% during the 2025 US Tariff Shock. Such a loss loss requires a 34.5% gain to breakeven.
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KDK has limited trading history. Below is the Information Technology sector ETF (XLK) in its place.
| Event | XLK | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -25.7% | -18.8% |
| % Gain to Breakeven | 34.5% | 23.1% |
| Time to Breakeven | 65 days | 79 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -33.1% | -24.5% |
| % Gain to Breakeven | 49.5% | 32.4% |
| Time to Breakeven | 246 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -31.2% | -33.7% |
| % Gain to Breakeven | 45.2% | 50.9% |
| Time to Breakeven | 78 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -23.8% | -19.2% |
| % Gain to Breakeven | 31.2% | 23.8% |
| Time to Breakeven | 100 days | 105 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -51.5% | -53.4% |
| % Gain to Breakeven | 106.2% | 114.4% |
| Time to Breakeven | 797 days | 1085 days |
In The Past
State Street Technology Select Sector SPDR ETF's stock fell -25.7% during the 2025 US Tariff Shock. Such a loss loss requires a 34.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Kodiak AI (KDK)
Kodiak AI (KDK) operates as a blank check company, also known as a Special Purpose Acquisition Company (SPAC). Its fundamental business is to identify and complete a significant business combination, such as a merger, asset acquisition, or share exchange, with an existing private operating company. KDK itself does not engage in any direct commercial operations; rather, its sole purpose is to acquire a suitable private enterprise, effectively bringing that company into the public market.
The company does not offer traditional products or services. Instead, its primary "service" lies in its strategic capabilities: sourcing, evaluating, and executing the acquisition of an established business. Kodiak AI leverages the extensive platform and resources of its sponsor, Ares, a leading global alternative investment adviser. This affiliation provides KDK with a significant advantage, offering investment, operational, due diligence, and capital-raising expertise designed to effect a positive transformation or augmentation of the acquired business and position it for long-term success in the public markets.
Kodiak AI's "customers" are the private businesses it aims to acquire. It seeks established companies that possess scale, attractive growth prospects, and sustainable competitive advantages. While open to opportunities in various industries globally, KDK intends to focus its search primarily within North America, Europe, or Asia. The company's goal is to offer these target businesses a differentiated and compelling value proposition for transitioning to a public listing.
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Here are a few analogies to describe Kodiak AI (KDK):
Kodiak AI is like a specialized private equity firm (e.g., Blackstone or KKR), but instead of keeping companies private, its sole mission is to acquire one established private business and bring it to the public stock market.
Imagine Kodiak AI as a publicly-funded investment fund (similar to a venture capital firm like Sequoia Capital) with a 'blank check,' specifically designed to find and acquire one mature private company to make it publicly traded.
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Based on the provided background information, Kodiak AI (KDK) is a blank check company, also known as a Special Purpose Acquisition Company (SPAC).
As a SPAC, Kodiak AI's primary purpose is to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. Its activities since inception have been organizational and related to preparing for its offering. The company has not yet selected any business combination target and has not initiated substantive discussions with any target.
Therefore, Kodiak AI (KDK) does not currently have any major customers or categories of customers in the traditional sense, as it is not yet an operating business selling products or services to individuals or other companies. Its current "focus" is on identifying and acquiring a private operating company, which will then become the combined entity.
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Don Burnette Founder, Chief Executive Officer and Director
Don Burnette has served as Kodiak's CEO since he founded the company in April 2018. He is recognized as a pioneer in the autonomous vehicle industry, with more than a decade of experience in self-driving software development. Before founding Kodiak, Burnette co-founded Ottomotto, the first self-driving truck startup, which was acquired by Uber in August 2016. He then served as a Software Technical Lead at Uber Technologies from November 2016 to March 2018. Prior to that, he worked as a software technical lead for Google's Self-Driving Car Project (predecessor to Waymo) from May 2010 to February 2016.
Surajit Datta Chief Financial Officer
Surajit Datta is Kodiak's Chief Financial Officer, a role he assumed in August 2025. He brings over 20 years of experience in strategic finance, financial planning and analysis, business partnering, corporate development and strategy, capital raising, and investment banking. Before joining Kodiak, Datta served as Vice President of Finance at SentinelOne, Inc., a cybersecurity company, from April 2022 to June 2025. From July 2017 to April 2022, he held senior finance and corporate development roles at Arm Inc., a semiconductor IP company.
Michael Wiesinger Chief Operating Officer
Michael Wiesinger has served as Kodiak's Chief Operating Officer since April 2025. Prior to this, he held various positions at Kodiak, including Vice President of Commercialization, from October 2019 to April 2025. Before joining Kodiak, Wiesinger worked at Boston Consulting Group from February 2014 to September 2019, most recently as a Project Leader.
Andreas Wendel Chief Technology Officer
Andreas Wendel is the Chief Technology Officer of Kodiak AI. He holds a doctorate and master's degree in computer science from the University of Linz, Austria, and a Ph.D. in Computer Science from Graz University of Technology.
Jordan Coleman Chief Legal and Policy Officer
Jordan Coleman has served as Kodiak's Chief Legal and Policy Officer since March 2023. He previously held the position of Kodiak's General Counsel starting in December 2018. Before his tenure at Kodiak, Coleman practiced corporate and securities law at prominent firms Wilson Sonsini Goodrich & Rosati and DLA Piper.
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Key Risks for Kodiak AI (KDK)
Inability to Complete an Initial Business Combination: Kodiak AI's primary business purpose is to effect a business combination with one or more businesses. As the company has not yet selected any business combination target and has not initiated substantive discussions, there is a significant risk that it may not be able to identify or successfully complete a suitable initial business combination within the required timeframe. If Kodiak AI fails to do so, it would be forced to liquidate, and public shareholders may only receive their pro rata portion of the funds held in the trust account, potentially without any return on their investment and possibly less than their initial investment after expenses.
Intense Competition for Attractive Acquisition Targets: Kodiak AI operates in a highly competitive environment for identifying and securing desirable business combination targets. Many other blank check companies, private equity funds, and strategic acquirers are also seeking to acquire high-growth or established businesses. This competition could make it difficult for Kodiak AI to identify and secure a suitable target on favorable terms, or at all, which could impede its ability to complete an initial business combination.
Risk of Significant Shareholder Redemptions: Even if Kodiak AI identifies a suitable business combination target and its shareholders approve the transaction, a substantial number of public shareholders may choose to redeem their shares for cash. High redemption rates could significantly reduce the amount of cash available in the trust account, making the proposed business combination less attractive to a potential target company or potentially leading to the termination of the transaction. Such redemptions could also impact the combined company's capital structure and ability to execute its business plan post-combination.
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- Share Issuance
- Kodiak AI became a publicly listed company on Nasdaq under the ticker KDK in September 2025, following its merger with special purpose acquisition company (SPAC) Ares Acquisition Corp. II.
- The company filed Amendment No. 1 to Form S-1 to register 184,793,176 shares of Common Stock for resale and 14,300,000 warrants, also covering primary issuances upon conversion of Series A Preferred Stock, exercise of various warrants, and potential earn-out issuances.
- A shelf registration for up to US$1.56 billion in common stock and warrants was closed around October 10, 2025, to facilitate future capital raising.
- Inbound Investments
- In connection with its business combination and IPO in September 2025, Kodiak AI received over $212.5 million from institutional investors, including $145 million in PIPE funding and approximately $62.9 million in trust cash from Ares Acquisition Corp. II (AACT).
- Lightspeed Management Company made a significant investment of $80.16 million in Kodiak AI in the fourth quarter of 2025, acquiring 7,340,475 shares.
- Battery Management Corp. established a new position, acquiring 11,356,669 shares in Kodiak AI for an estimated $124.01 million in the fourth quarter of 2025.
- Capital Expenditures
- Capital expenditures were $10 million in Q4 2025, primarily focused on autonomous vehicle (AV) components deployed on customer trucks.
- For the full year 2025, capital expenditures contributed to a negative free cash flow of $116.5 million.
- Kodiak AI plans to deploy proceeds from its SPAC merger to scale its driverless fleet and increase investment in research and development to advance its autonomous driving technology.
Peer Outperformance in Systems Software
null| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Electronic Manufacturing Services | 9 | 56.5% | 203.8% | 337.5% | FLEX 733% · TTMI 686% · JBL 431% |
| Semiconductor Materials & Equipment | 27 | 137.0% | 78.5% | 122.3% | AEHR 1607% · AXTI 663% · KLAC 489% |
| Technology Distributors | 9 | 21.8% | 63.2% | 76.0% | CLMB 334% · AVT 153% · SNX 111% |
| Electronic Components | 26 | 54.5% | 63.6% | 57.4% | CLS 3162% · BELFA 1332% · LPTH 590% |
| Communications Equipment | 35 | 29.8% | 85.1% | 41.4% | AAOI 1714% · LITE 899% · ANET 702% |
| Semiconductors | 54 | 31.6% | 32.8% | 30.9% | POET 1926% · MU 1277% · NVDA 889% |
| Technology Hardware, Storage & Peripherals | 22 | 31.2% | 83.1% | 23.4% | STX 1046% · SMCI 949% · WDC 916% |
| Internet Services & Infrastructure | 6 | 13.9% | 40.0% | 15.0% | DOCN 108% · VRSN 34% · GDDY 33% |
| Electronic Equipment & Instruments | 27 | -7.9% | 14.3% | -4.5% | PI 209% · SOTK 138% · NSSC 127% |
| IT Consulting & Other Services | 28 | -25.2% | -6.7% | -18.1% | CHRN 627400% · APLD 1745% · INOD 705% |
| Application Software | 123 | -19.6% | -8.7% | -43.1% | VIDA 394900% · INLX 5338% · PLTR 617% |
| Systems Software ← | 69 | -7.8% | 17.1% | -55.4% | QNC 752% · PAYS 440% · PANW 386% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 27.26 |
| Mkt Cap | 11.3 |
| Rev LTM | 9,366 |
| Op Inc LTM | 837 |
| FCF LTM | 268 |
| FCF 3Y Avg | 1,257 |
| CFO LTM | 615 |
| CFO 3Y Avg | 1,983 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 12.7% |
| Rev Chg 3Y Avg | 7.4% |
| Rev Chg Q | 62.1% |
| QoQ Delta Rev Chg LTM | 15.3% |
| Op Inc Chg LTM | -10.1% |
| Op Inc Chg 3Y Avg | 1.3% |
| Op Mgn LTM | -1,045.2% |
| Op Mgn 3Y Avg | 21.0% |
| QoQ Delta Op Mgn LTM | 536.7% |
| CFO/Rev LTM | -843.7% |
| CFO/Rev 3Y Avg | 23.6% |
| FCF/Rev LTM | -1,029.0% |
| FCF/Rev 3Y Avg | 11.4% |
Price Behavior
| Market Price | $3.94 | |
| Market Cap ($ Bil) | 0.7 | |
| First Trading Date | 06/12/2023 | |
| Distance from 52W High | -63.9% | |
| 50 Days | 200 Days | |
| DMA Price | $5.68 | $5.68 |
| DMA Trend | down | down |
| Distance from DMA | -30.6% | -30.6% |
| 3M | 1YR | |
| Volatility | 59.8% | 80.8% |
| Downside Capture | 305.11 | 157.87 |
| Upside Capture | -45.19 | 48.15 |
| Correlation (SPY) | 43.7% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.83 | 2.06 | 1.53 | 1.83 | -0.24 | -0.25 |
| Up Beta | 4.51 | 3.15 | 2.56 | 1.72 | -1.37 | 0.50 |
| Down Beta | 3.22 | 2.90 | 2.99 | 1.96 | 0.00 | 0.28 |
| Up Capture | -55% | -14% | -82% | 77% | 39% | 4% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 10 | 16 | 26 | 55 | 97 | 97 |
| Down Capture | 178% | 249% | 205% | 207% | 124% | 69% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 11 | 25 | 35 | 68 | 111 | 111 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with KDK | |
|---|---|---|---|---|
| KDK | -47.0% | 80.8% | -0.52 | - |
| Sector ETF (XLK) | 41.9% | 26.0% | 1.31 | 23.5% |
| Equity (SPY) | 21.1% | 12.9% | 1.22 | 25.9% |
| Gold (GLD) | 37.5% | 28.8% | 1.10 | 15.0% |
| Commodities (DBC) | 43.2% | 20.2% | 1.66 | -2.3% |
| Real Estate (VNQ) | 12.9% | 13.8% | 0.64 | 2.2% |
| Bitcoin (BTCUSD) | -31.6% | 44.1% | -0.73 | 19.4% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with KDK | |
|---|---|---|---|---|
| KDK | -11.9% | 80.8% | -0.52 | - |
| Sector ETF (XLK) | 19.7% | 25.9% | 0.68 | 23.5% |
| Equity (SPY) | 12.9% | 17.2% | 0.57 | 25.9% |
| Gold (GLD) | 20.6% | 18.6% | 0.90 | 15.0% |
| Commodities (DBC) | 10.4% | 19.6% | 0.41 | -2.3% |
| Real Estate (VNQ) | 2.3% | 18.9% | 0.02 | 2.2% |
| Bitcoin (BTCUSD) | 10.4% | 52.8% | 0.38 | 19.4% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with KDK | |
|---|---|---|---|---|
| KDK | -6.1% | 80.8% | -0.52 | - |
| Sector ETF (XLK) | 24.1% | 24.9% | 0.88 | 23.5% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 25.9% |
| Gold (GLD) | 12.7% | 16.2% | 0.64 | 15.0% |
| Commodities (DBC) | 8.0% | 18.0% | 0.36 | -2.3% |
| Real Estate (VNQ) | 5.0% | 20.7% | 0.20 | 2.2% |
| Bitcoin (BTCUSD) | 63.1% | 66.1% | 1.03 | 19.4% |
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Earnings Returns History
Updated 8/17/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/6/2026 | 2.8% | -6.1% | |
| 5/7/2026 | -20.4% | -11.4% | -29.2% |
| 3/10/2026 | 1.9% | -1.8% | -11.6% |
| 11/12/2025 | -18.6% | -21.5% | 3.1% |
| SUMMARY STATS | |||
| # Positive | 2 | 0 | 1 |
| # Negative | 2 | 4 | 2 |
| Median Positive | 2.3% | 3.1% | |
| Median Negative | -19.5% | -8.8% | -20.4% |
| Max Positive | 2.8% | 3.1% | |
| Max Negative | -20.4% | -21.5% | -29.2% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/6/2026 | 2.8% | -6.1% | |
| 5/7/2026 | -20.4% | -11.4% | -29.2% |
| 3/10/2026 | 1.9% | -1.8% | -11.6% |
| 11/12/2025 | -18.6% | -21.5% | 3.1% |
| SUMMARY STATS | |||
| # Positive | 2 | 0 | 1 |
| # Negative | 2 | 4 | 2 |
| Median Positive | 2.3% | 3.1% | |
| Median Negative | -19.5% | -8.8% | -20.4% |
| Max Positive | 2.8% | 3.1% | |
| Max Negative | -20.4% | -21.5% | -29.2% |
Recent Forward Guidance
Updated 8/7/2026Latest: Q2 2026 Earnings Reported 8/6/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Long-haul driverless launch | |||||||
Prior: Q1 2026 Earnings Reported 5/7/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Long-haul driverless launch | |||||||
Q4 2025 Earnings Reported 3/10/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Long-haul driverless operations launch | 0 | ||||||
Investor Activity (13F)
Updated Aug 24, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
| Active Manager |
|---|
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Industry Resources
| Information Technology Resources |
| TechCrunch |
| Wired |
| CIO |
| MIT Technology Review |
| Gartner Insights |
| Ars Technica |
| Systems Software Resources |
| CNET |
| ZDNet |
| Gartner |
| Software Development Times |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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