Kodiak Sciences Inc. (KOD) Income Statement
KOD 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsKOD revenue and net income
KOD growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | — | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
KOD quarterly EPS vs estimates
Kodiak Sciences beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 12, 2026 (estimate $1.00).
KOD income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cost of revenue | — | $26.7M | $25.9M | $11.0M | $8.7M | $4.2M | $911,000 | $490,000 | $549,000 | $257,000 |
| Gross profit | — | −$26.7M | −$25.9M | −$11.0M | −$8.7M | −$4.2M | −$911,000 | −$490,000 | −$549,000 | −$257,000 |
| Research & development | $182.4M | $126.1M | $206.3M | $267.6M | $217.3M | $107.4M | $37.5M | $18.8M | $22.0M | $14.1M |
| Sales, general & admin | $52.0M | $60.8M | $71.0M | $73.8M | $49.7M | $28.6M | $11.7M | $7.6M | $3.5M | $3.1M |
| Total operating expenses | $234.4M | $160.1M | $251.4M | $330.4M | $258.3M | $131.8M | $48.3M | $26.4M | $25.5M | $17.2M |
| Operating income | −$234.4M | −$186.8M | −$277.3M | −$341.4M | −$267.1M | −$136.0M | −$49.2M | −$26.4M | −$25.5M | −$17.2M |
| Interest income | $4.5M | $11.1M | $16.7M | $7.1M | $298,000 | $2.9M | $1.6M | $3.5M | $1.2M | $6,000 |
| Interest expense | $0 | $0 | $13,000 | $18,000 | $22,000 | $25,000 | $8,000 | $5.5M | $1.2M | $6,000 |
| Income before taxes | −$230.0M | −$176.2M | −$260.5M | −$333.8M | −$267.0M | −$133.1M | −$47.4M | −$41.4M | −$27.9M | −$17.1M |
| Income taxes | — | — | — | $7.3M | −$153,558 | $2.7M | −$638,000 | −$9.6M | −$45,000 | $31,000 |
| Net income | −$230.0M | −$176.2M | −$260.5M | −$333.8M | −$267.0M | −$133.1M | −$47.4M | −$41.4M | −$27.9M | −$17.1M |
| EBITDA | −$203.6M | −$149.5M | −$234.5M | −$322.8M | −$258.3M | −$128.9M | −$46.4M | −$35.4M | −$26.2M | −$16.9M |
| EPS (diluted) | −$4.32 | −$3.36 | −$4.96 | −$6.39 | −$5.15 | −$2.89 | −$1.25 | −$1.64 | −$1.05 | −$2.45 |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $26.7M | $0 | $0 | $0 | $0 | $0 |
| Cost of revenue | — | $6.3M | −$19.8M | $6.5M | $6.5M | $6.7M | $6.7M | $6.7M | $6.7M | $6.6M | $6.7M | $7.0M |
| Gross profit | — | −$6.3M | $19.8M | −$6.5M | −$6.5M | −$6.7M | −$6.7M | −$6.7M | −$6.7M | −$6.6M | −$6.7M | −$7.0M |
| Research & development | $56.1M | $48.5M | $45.5M | $50.5M | $42.8M | $43.6M | $31.8M | $31.9M | $32.5M | $29.9M | $46.6M | $36.2M |
| Sales, general & admin | $10.8M | $11.2M | $12.0M | $11.9M | $12.8M | $13.5M | $14.4M | $14.8M | $15.5M | $16.1M | $16.7M | $18.3M |
| Total operating expenses | $66.8M | $59.8M | $57.5M | $62.4M | $55.5M | $59.1M | $39.5M | $39.9M | $41.3M | $39.4M | $56.7M | $47.5M |
| Operating income | −$66.8M | −$59.8M | −$57.5M | −$62.4M | −$55.5M | −$59.1M | −$46.2M | −$46.6M | −$48.0M | −$46.1M | −$63.4M | −$54.5M |
| Interest income | $1.3M | $1.6M | $757,000 | $917,000 | $1.2M | $1.6M | $2.1M | $2.7M | $3.0M | $3.4M | $3.9M | $4.5M |
| Interest expense | — | — | — | — | — | — | $0 | $0 | $0 | $0 | $0 | $5,000 |
| Income before taxes | −$65.6M | −$58.2M | −$56.7M | −$61.5M | −$54.3M | −$57.5M | −$44.1M | −$43.9M | −$45.1M | −$43.0M | −$59.5M | −$50.0M |
| Income taxes | — | — | — | — | — | — | −$6.6M | −$43.9M | — | $6.6M | $6.6M | −$7.0M |
| Net income | −$65.6M | −$58.2M | −$56.7M | −$61.5M | −$54.3M | −$57.5M | −$44.1M | −$43.9M | −$45.1M | −$43.0M | −$59.5M | −$50.0M |
| EBITDA | −$60.6M | −$51.8M | −$46.5M | −$54.9M | −$47.8M | −$50.7M | −$37.4M | −$37.2M | −$38.4M | −$36.4M | −$52.9M | −$43.0M |
| EPS (diluted) | −$1.05 | −$0.94 | −$1.04 | −$1.16 | −$1.03 | −$1.09 | −$0.84 | −$0.84 | −$0.86 | −$0.82 | −$1.13 | −$0.95 |
| Gross margin | — | — | — | — | — | — | −25.1% | — | — | — | — | — |
| Operating margin | — | — | — | — | — | — | −173.3% | — | — | — | — | — |
| Net margin | — | — | — | — | — | — | −165.5% | — | — | — | — | — |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in KOD's financial statements (latest annual report filed March 31, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
KOD financial results
Kodiak Sciences reported no revenue in fiscal year 2025 (ended December 31, 2025). It had a net loss of $230.0 million. Diluted earnings per share came to −$4.32.
See the KOD stock overview for the latest quote and news, or the KOD chart for price history and technical indicators.
KOD income statement FAQ
Does Kodiak Sciences have revenue?
Kodiak Sciences reported no revenue for fiscal year 2025, which ended on December 31, 2025.
Is Kodiak Sciences profitable?
No. Kodiak Sciences reported a net loss of $230.0 million in fiscal 2025.
How much does Kodiak Sciences spend on research and development?
Kodiak Sciences spent $182.4 million on research and development in fiscal 2025.
What are Kodiak Sciences's earnings per share?
Kodiak Sciences earned $-4.32 per diluted share in fiscal 2025, compared with $-3.36 a year earlier.
When will Kodiak Sciences report its next earnings?
Kodiak Sciences is expected to report results for the quarter ending September 30, 2026 on November 12, 2026 after the market closes.
When does Kodiak Sciences's fiscal year end?
Kodiak Sciences's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 31, 2026.