Kodiak Sciences (KOD) financial statements
Net income was -$230M.
Free cash flow was -$137M.
The diluted share count rose 638% over the period (dilution).
Income statement
Fiscal years, from Kodiak Sciences's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Research and development | $14M | $22M | $19M | $38M | $107M | $217M | $268M | $206M | $126M | $182M |
| Selling, general and admin | $3M | $3M | $8M | $12M | $29M | $50M | $74M | $71M | $61M | $52M |
| Operating income | -$17M | -$26M | -$26M | -$49M | -$136M | -$267M | -$341M | -$277M | -$187M | -$234M |
| Interest expense | $6,000 | $1M | $6M | $8,000 | $25,000 | $47,000 | $18,000 | $13,000 | $0 | $0 |
| Pre-tax income | -$17M | -$28M | -$41M | -$47M | -$133M | -$267M | -$334M | -$260M | -$176M | -$230M |
| Income tax | — | — | — | — | $14,000 | $74,000 | $33,000 | $33,000 | $20,000 | $52,000 |
| Net income | -$17M | -$28M | -$41M | -$47M | -$133M | -$267M | -$334M | -$260M | -$176M | -$230M |
| EPS (diluted) | -$2.38 | -$3.72 | -$2.77 | -$1.25 | -$2.91 | -$5.16 | -$6.39 | -$4.97 | -$3.35 | -$4.32 |
| Diluted shares | 7M | 8M | 15M | 38M | 46M | 52M | 52M | 52M | 53M | 53M |
Balance sheet
Fiscal years, from Kodiak Sciences's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $10M | $1M | $88M | $336M | $969M | $732M | $479M | $286M | $168M | $210M |
| Total current assets | — | $2M | $90M | $339M | $972M | $735M | $486M | $289M | $172M | $215M |
| Property, plant and equipment | — | $2M | $1M | $996,000 | $5M | $41M | $56M | $120M | $102M | $85M |
| Total assets | — | $3M | $92M | $359M | $1.1B | $904M | $667M | $479M | $336M | $352M |
| Total current liabilities | — | $9M | $5M | $12M | $31M | $65M | $52M | $42M | $26M | $46M |
| Total liabilities | — | $22M | $5M | $14M | $207M | $241M | $230M | $214M | $185M | $194M |
| Shareholders' equity | -$41M | -$69M | $87M | $345M | $861M | $663M | $436M | $266M | $150M | $157M |
| Net debt | -$10M | -$1M | -$88M | -$212M | -$944M | -$732M | -$190M | -$286M | -$168M | -$210M |
Cash flow
Fiscal years, from Kodiak Sciences's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$16M | -$18M | -$29M | -$39M | -$83M | -$182M | -$206M | -$154M | -$117M | -$136M |
| Capital spending | $771,000 | $209,000 | $78,000 | $437,000 | $4M | $17M | $37M | $41M | $375,000 | $506,000 |
| Free cash flow | -$17M | -$18M | -$29M | -$40M | -$87M | -$199M | -$243M | -$196M | -$118M | -$137M |
| Stock-based compensation | $272,000 | $275,000 | $3M | $6M | $31M | $61M | $106M | $89M | $60M | $59M |
| Share buybacks (net) | -$4,000 | $0 | $0 | — | — | — | — | — | — | — |
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How much free cash flow does Kodiak Sciences generate?
-$137M in fiscal 2025 (operating cash flow minus capital spending).
From Kodiak Sciences's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.