Kodiak AI Inc. (NASDAQ: KDK) reported first-quarter revenue of $1.8 million, representing 74% growth from the previous quarter, according to the company's earnings statement. The autonomous vehicle technology provider also announced a $100 million private placement financing from new and existing institutional investors.

The company deployed eight additional fully-driverless trucks during the quarter, bringing its total to 28 customer-owned driverless vehicles by the end of March. Kodiak Driver-powered trucks accumulated more than 23,500 hours of paid driverless operations, a 120% increase from the fourth quarter of 2025.

Net cash used in operating activities was $29.5 million for the quarter, while free cash flow was negative $35.0 million. The company ended the first quarter with $90.2 million in cash and cash equivalents and marketable securities, excluding the proceeds from the new financing.

During the quarter, Kodiak announced partnerships with General Dynamics Land Systems for autonomous military ground vehicles and unveiled the Leonidas Autonomous Ground Vehicle. The company also launched service with Roehl Transport and announced planned pilot operations with West Fraser for logging operations in Canada.

TD Cowen served as lead placement agent for the private placement, with Cantor and Oppenheimer & Co. acting as co-placement agents. The company reported delivering more than 15,600 cumulative loads by the end of the first quarter, representing approximately 24% growth over the fourth quarter of 2025.