KOD

MKT CAP:$2B

Kodiak Sciences Inc.

Market Cap

$2B

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$45.91+$19.89 (+76.46%)

Apr 21, 2026

Company Details

Kodiak Sciences Inc., a clinical stage biopharmaceutical company, researches, develops, and commercializes therapeutics to treat retinal diseases. Its lead product candidate is KSI-301, an anti-vascular endothelial growth factor antibody bi...

CEO

Dolly S. Chang

IPO Date

Oct 4, 2018

Website

kodiak.com

Key Metrics TTM

Revenue

$0

— YoY

Net Income

-$230M

EPS (Diluted)

-$4.32

Free Cash Flow

-$137M

Revenue / Share

$0.00

Gross Margin

—

Operating Margin

—

Net Margin

—

FCF Margin

—

P/S

—

P/E

—

Earnings Reports

Q1 2026

May 13, 2026

PENDING

FY 2025

Mar 31, 2026

$0EPS -$4.32

Q4 2025

Mar 31, 2026

$0EPS -$1.04

Q3 2025

Nov 13, 2025

$0EPS -$1.16

Q2 2025

Aug 13, 2025

$0EPS -$1.03

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$0	-$2M	-$96M
Q2 22	$0	-$3M	-$92M
Q3 22	$0	-$3M	-$79M
Q4 22	$0	-$3M	-$74M
Q1 23	$0	-$6M	-$75M
Q2 23	$0	-$7M	-$85M
Q3 23	$0	-$7M	-$55M
Q4 23	$0	-$7M	-$63M
Q1 24	$0	-$7M	-$46M
Q2 24	$0	-$7M	-$48M
Q3 24	$0	-$7M	-$47M
Q4 24	$0	-$7M	-$46M
Q1 25	$0	-$7M	-$57M
Q2 25	$0	-$7M	-$56M
Q3 25	$0	-$7M	-$62M
Q4 25	$0	$20M	-$59M

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$43M	-$61M
Q2 22	-$55M	-$71M
Q3 22	-$53M	-$60M
Q4 22	-$55M	-$61M
Q1 23	-$47M	-$59M
Q2 23	-$42M	-$43M
Q3 23	-$33M	-$33M
Q4 23	-$32M	-$60M
Q1 24	-$40M	-$40M
Q2 24	-$26M	-$27M
Q3 24	-$21M	-$21M
Q4 24	-$30M	-$30M
Q1 25	-$29M	-$29M
Q2 25	-$35M	-$35M
Q3 25	-$33M	-$33M
Q4 25	-$39M	-$39M

Capital Expenditures

Quarter	CapEx
Q1 22	$18M
Q2 22	$16M
Q3 22	$7M
Q4 22	$6M
Q1 23	$12M
Q2 23	$1M
Q3 23	$226.0K
Q4 23	$27M
Q1 24	$22.0K
Q2 24	$49.0K
Q3 24	$205.0K
Q4 24	$124.0K
Q1 25	$270.0K
Q2 25	$133.0K
Q3 25	$60.0K
Q4 25	$43.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	—	+89.4%
Q2 22	—	+64.7%
Q3 22	—	+17.7%
Q4 22	—	-20.4%
Q1 23	—	-22.1%
Q2 23	—	-7.9%
Q3 23	—	-31.4%
Q4 23	—	-14.4%
Q1 24	—	-38.3%
Q2 24	—	-43.4%
Q3 24	—	-14.4%
Q4 24	—	-27.1%
Q1 25	—	+24.1%
Q2 25	—	+15.7%
Q3 25	—	+33.7%
Q4 25	—	+28.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$28M	—
Q2 22	$26M	—
Q3 22	$26M	—
Q4 22	$26M	—
Q1 23	$26M	—
Q2 23	$26M	—
Q3 23	$14M	—
Q4 23	$23M	—
Q1 24	$18M	—
Q2 24	$18M	—
Q3 24	$15M	—
Q4 24	$9M	—
Q1 25	$16M	—
Q2 25	$16M	—
Q3 25	$0	—
Q4 25	$27M	—

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q1 22	$76M	—	$17M
Q2 22	$74M	—	$16M
Q3 22	$62M	—	$15M
Q4 22	$56M	—	$15M
Q1 23	$57M	—	$12M
Q2 23	$67M	—	$11M
Q3 23	$36M	—	$11M
Q4 23	$47M	$17M	—
Q1 24	$30M	—	$9M
Q2 24	$33M	—	$9M
Q3 24	$32M	—	$8M
Q4 24	$32M	—	$8M
Q1 25	$44M	—	$7M
Q2 25	$43M	—	$6M
Q3 25	$50M	—	$5M
Q4 25	$45M	—	$34M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$672M	$0	$672M
Q2 22	$173M	$425M	$598M
Q3 22	$178M	$359M	$537M
Q4 22	$190M	$289M	$479M
Q1 23	$317M	$105M	$421M
Q2 23	$379M	$0	$379M
Q3 23	$346M	$0	$346M
Q4 23	$286M	$0	$286M
Q1 24	$246M	$0	$246M
Q2 24	$219M	$0	$219M
Q3 24	$198M	$0	$198M
Q4 24	$168M	$0	$168M
Q1 25	$139M	$0	$139M
Q2 25	$104M	$0	$104M
Q3 25	$72M	$0	$72M
Q4 25	$210M	$0	$210M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	52M	+0.4%	+1.2%
Q2 22	52M	+0.1%	+1.3%
Q3 22	52M	+0.1%	+0.8%
Q4 22	52M	+0.1%	+0.6%
Q1 23	52M	+0.0%	+0.3%
Q2 23	52M	+0.1%	+0.3%
Q3 23	52M	+0.1%	+0.3%
Q4 23	52M	+0.1%	+0.3%
Q1 24	53M	+0.1%	+0.3%
Q2 24	53M	+0.1%	+0.3%
Q3 24	53M	+0.1%	+0.3%
Q4 24	53M	+0.1%	+0.3%
Q1 25	53M	+0.2%	+0.4%
Q2 25	53M	+0.1%	+0.4%
Q3 25	53M	+0.2%	+0.5%
Q4 25	53M	+0.7%	+1.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$0	93
Q2 22	$0	93
Q3 22	$0	93
Q4 22	$0	112
Q1 23	$0	112
Q2 23	$0	112
Q3 23	$0	112
Q4 23	$0	112
Q1 24	$0	112
Q2 24	$0	112
Q3 24	$0	112
Q4 24	$0	109
Q1 25	$0	109
Q2 25	$0	109
Q3 25	$0	109
Q4 25	$0	124

Revenue / Employee