As futuristic as the idea of autonomous long-haul trucking sounds, these vehicles are already operating on roads across the country. One company helping to make this trend possible is Kodiak. They went public on September 25, 2025, with a $2.5 Billion valuation.
Unlike other companies, Kodiak doesn’t actually make trucks. Instead, they retrofit existing equipment with their sensors and software thanks to their installation partner, Roush Industries. Also, unlike other companies in their space… they have revenue, an impressive feat.
In 2024, Kodiak became the first company to announce delivery of driverless semi-trucks to a paying customer, but I think most of us have the same question: will the model work?
As futuristic as the idea of autonomous long-haul trucking sounds, these vehicles are already operating on roads across the country. One company helping to make this trend possible is Kodiak. They went public on September 25, 2025, with a $2.5 Billion valuation.
Unlike other companies, Kodiak doesn’t actually make trucks. Instead, they retrofit existing equipment with their sensors and software thanks to their installation partner, Roush Industries. Also, unlike other companies in their space… they have revenue, an impressive feat.
In 2024, Kodiak became the first company to announce delivery of driverless semi-trucks to a paying customer, but I think most of us have the same question: will the model work?
The trucks can even operate ‘offline’ if needed, because the software is embedded in each truck, eliminating the need for constant connectivity – something that is hardly guaranteed in remote areas.
Customers do have to think through pickup and drop-off moments. After all, it doesn’t do you any good if a truck pulls up, and the people at the receiving dock don’t know what to do when a person doesn’t step out of the cab.
Be All You Can Be
Kodiak probably owes a debt of thanks to the U.S. military for helping them reach their IPO. They have signed on for a number of projects with the Department of Defense that likely provided them with the cash needed to continue investing in civilian applications.
The Defense contract was to help the Army automate vehicles for high-risk missions, but it also gave Kodiak the opportunity to test its self-driving tech stack in unstructured, off-road environments – exactly like what they are doing for Atlas today.
Driving off-road presents autonomous vehicles with a unique challenge. You can’t rely on a map if there isn’t a road to follow, and off-road environments may be associated with more extreme weather conditions.
Taking Kodiak to the Bank
Kodiak has plans to put their newly acquired capital into manufacturing capacity and R&D, and they are going to need it. There is a lot of visibility associated with how these trucks operate, a reality that can either be good or bad. It would be exciting to see one traveling down the highway, less so to see one having trouble navigating, or worse, in an accident.
Seeking Alpha Analyst Michael McGrath, who focuses on the autonomous vehicles space, isn’t sold on the investment opportunity presented by Kodiak, at least not yet.
He wrote, “Overall, I believe that Kodiak is too risky an investment at this time. Its autonomous technology may work very well, but it will most likely require more capital before it can sustain a breakeven operation.”=
Not much is known about Kodiak’s financial state, and some sources recommend waiting until at least one round of quarterly financial statements have become available before investing.
Of course, that is for people looking to make money. Those of us in supply chain want to move stuff. Will companies that need transportation and can’t find enough drivers invest by buying Kodiak Driver systems?
