Home / Going-concern warnings / Kardigan, Inc.
Filed 2026-08-11 路 Form 10-Q 路 Accession 0001193125-26-343418 mid
Price before filing: $21.08 (2026-08-10 close, split/dividend-adjusted)
Market cap at flag: $2.06B (2026-08-11) 路 Latest: $1.22B (2026-10-16)
| Window | KARD | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | -11.3% | -2.0% | -9.4% | 2026-09-10 |
| 90 days | pending | pending | until 2026-11-09 | |
| 180 days | pending | pending | until 2027-02-07 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 3 insiders bought $90.0M (3 purchases)
30 days after: none reported.
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2026-06-22 | ARCH Venture Partners XIII, LLC (+6 joint filers) Director, 10% owner | Purchase | 1,250,000 | $16.00 | $20.0M | no | Form 4 |
| 2026-06-22 | BERNS PAUL L Director, 10% owner | Purchase | 1,250,000 | $16.00 | $20.0M | no | Form 4 |
| 2026-06-22 | HRTG GPE, LLC (+4 joint filers) 10% owner | Purchase | 3,125,000 | $16.00 | $50.0M | no | Form 4 |
| 2026-08-11: red flag filed | |||||||
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2026-05-13 to 2026-09-10. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"As discussed in the Company's audited financial statements for the year ended December 31, 2025, included in the Company's final prospectus dated June 17, 2026, filed with the Securities and Exchange Commission pursuant to Rule 424(b) under the Securities Act of 1933, as amended, the Company previously concluded that recurring losses, negative cash flows from operations, and limited liquidity raised substantial..."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Source: management disclosure in Form 10-Q (period 2026-06-30)
Why this score: quarterly (unaudited) disclosure
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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