Picture of Kodiak AI logo

KDK — Kodiak AI News Story

0.000.00%
us flag iconLast trade - 00:00
TechnologyAdventurousSmall CapSucker Stock

Kodiak AI Q2 revenue jumps sequentially on expanded driverless truck deployments

Kodiak AI Q2 revenue jumps sequentially on expanded driverless truck deployments


Overview

  • US autonomous vehicle tech firm's Q2 revenue rose 91% qtr/qtr, beating analyst expectations

  • Loss per share for Q2 was $0.50; no analyst estimate provided for comparison

  • Company expanded customer-owned driverless fleet and launched seventh-generation autonomous truck platform


Outlook

  • Kodiak aims to launch driverless long-haul operations by year-end


Result Drivers

  • DRIVERLESS DEPLOYMENTS - Co said Q2 revenue growth was driven by expanded customer-owned driverless truck deployments

  • TECHNOLOGY ADVANCEMENTS - Launch of seventh-generation autonomous truck platform enhanced performance and reliability, per CEO Don Burnette

  • OPERATIONAL SCALE-UP - Paid driverless operations hours rose 71% qtr/qtr and cumulative loads delivered grew 32% qtr/qtr


Company press release: ID:nGNX5hZ7Pq


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q2 Revenue

Beat

$3.50 mln

$2.60 mln (6 Analysts)

Q2 Loss Per Share

$0.50


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the it services & consulting peer group is "buy"

  • Wall Street's median 12-month price target for Kodiak AI Inc is $12.00, about 183.7% above its August 5 closing price of $4.23


Reuters Recommended Reads

  • Aug 5 - Amazon's Zoox to start paid robotaxi rides in Vegas next week

  • Aug 5 - Aeva Technologies Q2 revenue rises, beats analyst expectations

  • Aug 5 - Uber doubles down on robotaxi plans, shares fall on weak profit forecast


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

Recent news on Kodiak AI

See all news