| Cash Flow | 2026-06-30 |
|---|---|
| Net loss | -172,307 |
| Stock-based compensation expense | 17,053 |
| Integration bonus expense | 0 |
| Depreciation and amortization expense | 3,221 |
| Amortization of premiums and accretion of discounts on investments | 1,848 |
| Change in fair value of preferred stock tranche obligations | 0 |
| Change in fair value of contingent milestone liabilities | 43,529 |
| Acquired intellectual property rights | 1,400 |
| Bargain purchase gain | 0 |
| Deferred income tax benefit | 0 |
| Amortization of right-of-use assets | 1,078 |
| Other non-cash charges | 2,570 |
| Prepaid expenses and other current assets | 1,348 |
| Other non-current assets | -814 |
| Accounts payable | 3,776 |
| Accrued expenses and other current liabilities | 920 |
| Operating lease liabilities | -1,045 |
| Net cash used in operating activities | -107,327 |
| Proceeds from maturities of investments | 185,226 |
| Purchases of investments | 235,218 |
| Purchases of property and equipment | 2,090 |
| Purchases of intangible assets | 0 |
| Capitalized software development costs | 2,810 |
| Acquisition of prolaio, net of cash acquired | 0 |
| Net cash used in investing activities | -54,892 |
| Proceeds from issuance of preferred stock, net of issuance cost | 9,997 |
| Proceeds from issuance of common stock upon ipo, net of underwriting discounts and commissions | 427,800 |
| Payments of offering costs | 1,795 |
| Proceeds from exercise of stock options | 1,233 |
| Net cash provided by financing activities | 437,235 |
| Net increase in cash, cash equivalents and restricted cash | 275,016 |
| Cash, cash equivalents and restricted cash at beginning of period | 109,529 |
| Cash, cash equivalents and restricted cash at end of period | 384,545 |
| Cash and cash equivalents | 384,005 |
| Restricted cash | 540 |
| Total cash, cash equivalents and restricted cash | 384,545 |
Kardigan, Inc. (KARD)
Kardigan, Inc. (KARD)