Kodiak AI, Inc.KDK

Kodiak AI, Inc. Leases Disclosure

10-KFiled Mar 11, 20261 min read
7. Leases
The Company has operating lease arrangements for facilities under non-cancellable agreements with various expiration dates through 2031. The agreements may include renewal options to extend the term that the Company is not reasonably certain to exercise.
Rent expense related to operating lease liabilities was $2.6 million, $2.5 million, and $2.3 million for the years ended December 31, 2025, 2024, and 2023, respectively. Variable costs were $0.6 million for the year ended December 31, 2025. In addition, the Company recognized $0.3 million, $0.2 million, and $0.1 million in rent expenses related to short-term leases for the years ended December 31, 2025, 2024, and 2023, respectively.
As of December 31, 2025, future minimum lease payments for the Company’s operating lease liabilities were as follows (in thousands):
Year Ended December 31,Amount
2026$2,605 
20271,200 
2028839 
2029866 
2030898 
Thereafter670 
Total undiscounted lease payments7,078 
Less: Imputed interest(1,578)
Present value of lease liabilities5,500 
Less: Operating lease liabilities, current(1,916)
Operating lease liabilities, non-current$3,584 
The following table summarizes additional information related to operating leases for the periods presented:
December 31,
202520242023
Weighted-average remaining lease term4.1 years4.6 years5.2 years
Weighted-average discount rate12.5 %12.3 %11.2 %
Cash payments made for operating leases (in thousands)$2,626 $2,327 $2,308 

About Leases Disclosures

Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.

Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.

Other Available Disclosures

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