The Tool Desk
Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →Outbyte PC Repair FREERepair Windows errors before they cause bigger problemsFix Now →No—Kodak said on August 13, 2025, that it had no plans to cease operations, go out of business, or file for bankruptcy protection. That statement answered reports prompted by a going-concern disclosure in the company’s second-quarter 2025 filing. Kodak’s later results show it continued reporting revenue and earnings through the second quarter of 2026, but they do not guarantee that future financial or liquidity risks have disappeared.
Why reports said Kodak might shut down
The concern followed a going-concern disclosure in Kodak’s Q2 2025 filing. Such a disclosure raises substantial doubt about a company’s ability to continue operating; it is a warning about financial risk, not an announcement that the company is closing or filing for bankruptcy. In its August 13, 2025 response, Kodak called reports that it was ceasing operations, going out of business, or seeking bankruptcy protection inaccurate. The company described the disclosure as a technical accounting report and said it had no plans to shut down or seek bankruptcy protection. Those statements describe Kodak’s position at that time, not a guarantee about future outcomes. Kodak’s August 13 statement; Reuters’ contemporaneous report.
What Kodak said about debt and pension assets in August 2025
In the same statement, Kodak reported $477 million in term debt and $100 million in preferred stock outstanding. It also expected to receive approximately $500 million in pension assets after meeting obligations to plan participants: about $300 million in cash and $200 million in investment assets expected to be converted to cash. Kodak said loan documents required it to use the expected $300 million cash portion to repay term debt. These were balances and expectations described in August 2025, for a transaction then expected to close in December 2025; they should not be read as current debt figures or as cash still available today. Kodak’s August 13 statement.
What Kodak’s reported results show
Kodak’s later releases provide evidence of continued operations, while showing why its financial position should not be reduced to a simple “safe” or “closing” verdict. The company reported a GAAP net loss for full-year 2025, followed by positive GAAP net income in Q2 2026. Operational EBITDA is a company-reported non-GAAP measure, so it is distinct from GAAP net income or loss.
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| Reporting period | Revenue | GAAP net income (loss) | Operational EBITDA | Period-end cash |
|---|---|---|---|---|
| Full year 2025 | $1.069 billion | $(128) million | $62 million | $337 million at year-end |
| Q2 2026 | $311 million | $17 million | $36 million | $290 million at quarter-end |
Kodak attributed most of the year-over-year decline in GAAP earnings for 2025 to non-recurring effects related to terminating the Kodak Retirement Income Plan (KRIP) and an excise tax paid on the reversion of plan assets. That explanation does not change the reported GAAP net loss. Kodak’s full-year 2025 results.
For Q2 2026, Kodak reported $290 million in cash, down $47 million from December 31, 2025. The company said the decrease primarily reflected required term-loan repayments and higher inventory, partly offset by cash proceeds from redemptions of KRIP reversion investments. The quarter-end cash figure is a balance for that date, not a forecast or proof that debt has been eliminated. Kodak’s Q2 2026 results.
Rank #2
- 16MP Sensor: Captures detailed photos with a CMOS sensor for everyday shooting
- Optical Zoom: 4x optical zoom with a 27mm wide angle lens for flexible framing indoors or outdoors
- Full HD Video: Records 1080p video for travel clips, family moments, or simple vlogging
- Memory Support: Works with Class 10 SD, SDHC, or SDXC cards up to 512GB
- LCD Screen and Battery: 2.7in LCD screen with 2 AA alkaline batteries for convenient on-the-go use
Does this mean Kodak is safe from bankruptcy?
No conclusion about future solvency follows from these results alone. They establish that Kodak reported revenue and positive GAAP net income in Q2 2026; they do not rule out later financial distress, restructuring, or a bankruptcy filing. Kodak’s Q2 2026 release identifies risks including sustaining cash flow and profitability, financing, servicing debt and preferred stock, commodity costs, competition, and other operating challenges. Its CEO Jim Continenza described the quarter as showing “stability and growth,” but that is management’s characterization rather than an independent assessment. Kodak’s Q2 2026 results.
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- Memory Support: Works with class ten SD, SDHC, or SDXC cards up to five hundred twelve GB
- LCD Screen and Battery: Two point seven inch LCD screen with two AA alkaline batteries for convenient on the go use
Rank #4
- 16MP Sensor: Captures detailed photos with a CMOS sensor for everyday shooting
- Optical Zoom: 5x optical zoom with a 28mm wide angle lens for flexible framing indoors or outdoors
- Full HD Video: Records 1080p video for travel clips, family moments, or simple vlogging
- Memory Support: Works with Class 10 SD, SDHC, or SDXC cards up to 512GB
- Rechargeable Battery: Included LB-012 lithium-ion battery charges in the camera over USB with the supplied adapter in about 2 hours; charge it for at least 4 hours before first use to maximize battery life
Rank #3
- 16MP Sensor: Captures detailed photos with a CMOS sensor for everyday shooting
- Optical Zoom: 5x optical zoom with a 28mm wide angle lens for flexible framing indoors or outdoors
- Full HD Video: Records 1080p video for travel clips, family moments, or simple vlogging
- Memory Support: Works with Class 10 SD, SDHC, or SDXC cards up to 512GB
- Rechargeable Battery: Included LB-012 lithium-ion battery charges in the camera over USB with the supplied adapter in about 2 hours; charge it for at least 4 hours before first use to maximize battery life
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