Kodiak AI’s stock dropped 17.9% following earnings, driven primarily by cautious guidance and signals of deceleration in the pace of scaling driverless deployments despite ongoing technological progress.

• Deployed 8 additional trucks in Q1 for a total of 28, marking continued but moderate expansion of their driverless fleet.
• Paid driverless hours reached over 23,500, a 120% increase from Q4 2025, but this growth pace may not have met investor expectations for acceleration.
• Cumulative loads delivered grew approximately 24%, totaling over 15,600, including more than 200,000 tons of freight in Q1 alone.
• Entered a strategic partnership with General Dynamics Land Systems to develop autonomous military ground vehicles, reflecting diversification but potentially signaling longer lead times to revenue.
• Highlighted advances in AI-powered productivity tools internally, yet no commentary on near-term margin benefits or revenue acceleration to offset cautious outlook.