Serve Robotics Inc. /DE/
Business
Serve Robotics Inc. develops and operates autonomous robotic systems for last-mile delivery and logistics in outdoor and indoor environments. The company designs, manufactures (via contract manufacturers), deploys, and operates sidewalk delivery robots integrated with food delivery platforms like Uber Eats and DoorDash, with over 2,000 robots in service as of December 2025, and operates Moxi hospital logistics robots following its January 2026 acquisition of Diligent Robotics. The company serves food delivery, healthcare, and adjacent commercial markets through a platform combining proprietary AI models, Level 4 autonomous navigation, human remote supervision for exception handling, and fleet management infrastructure.
Summary from 10-K filed 2026-03-12
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Revenues | 3 | 2 | 207,545 | — | — | |
| Cost of revenues | 18 | 2 | 2 | — | — | |
| Gross loss | −15 | −75,000 | −2 | −1 | — | |
| Research and development | 45 | 24 | 10 | 14 | — | |
| General and administrative | 37 | 10 | 5 | 4 | 54,627 | |
| Operations | 12 | 3 | 3 | 2 | — | |
| Sales and marketing | 3 | 577,000 | 605,205 | 525,494 | — | |
| Total operating expenses | 97 | 38 | 19 | 20 | — | |
| Loss from operations | −113 | −38 | −21 | −21 | −54,627 | |
| Interest income | 7 | 1 | — | — | — | |
| Interest expense | −3,000 | −2 | — | — | — | |
| Realized gain on foreign currency translation | 2,000 | 0 | — | — | — | |
| Realized gain on investments | 391,000 | 0 | — | — | — | |
| Change in fair value of derivative liability | 0 | −222,000 | −149,000 | — | — | |
| Other income | 91,000 | 0 | — | — | — | |
| Net loss before income taxes | −105 | −39 | — | — | — | |
| Benefit from income taxes | 4 | 0 | 0 | — | — | |
| Net loss | −101 | −39 | −25 | −22 | −54,627 | |
| Unrealized gain on investments | 189,000 | 0 | — | — | — | |
| Other comprehensive income, before tax | 189,000 | 0 | — | — | — | |
| Income tax expense related to items of other comprehensive income | −51,000 | 0 | — | — | — | |
| Other comprehensive income, net of tax | 138,000 | 0 | — | — | — | |
| Comprehensive loss | −101 | −39 | — | — | — | |
| Weighted average common shares outstanding - basic (in shares) | 62 | 37 | 14 | 7 | 5 | |
| Weighted average common shares outstanding - diluted (in shares) | 62 | 37 | 14 | 7 | 5 | |
| Net loss per common share - basic (in dollars per share) | −1.63 | −1.07 | −1.75 | −3.17 | −0.01 | |
| Net loss per common share - diluted (in dollars per share) | −1.63 | −1.07 | −1.75 | −3.17 | −0.01 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 106 | 123 | 6,756 | 3 | — | |
| Short-term marketable securities | 127 | 0 | — | — | — | |
| Accounts receivable, net | 851,000 | 87,000 | 2,955 | 23,697 | — | |
| Inventory | 0 | 310,000 | 774,349 | 618,262 | — | |
| Prepaid expenses | 6 | 1 | 676,969 | 81,339 | — | |
| Other receivables | 696,000 | 192,000 | 0 | — | — | |
| Other current assets | 77,000 | 0 | — | — | — | |
| Total current assets | 241 | 125 | 1 | 3 | 271 | |
| Property and equipment, net | 47 | 12 | 48,422 | 3 | — | |
| Long-term marketable securities | 26 | 0 | — | — | — | |
| Intangible assets, net | 31 | 0 | — | — | — | |
| Goodwill | 16 | 0 | — | — | — | |
| Operating lease right-of-use assets | 5 | 2 | 782,439 | 1 | — | |
| Other non-current assets | 1 | 578,000 | — | — | — | |
| Total assets | 368 | 140 | 3 | 9 | 271 | |
| Accounts payable | 5 | 5 | 2 | 162,034 | 7,500 | |
| Accrued liabilities | 6 | 655,000 | 255,849 | 37,434 | — | |
| Deferred revenue | 2,000 | 20,000 | 0 | — | — | |
| Operating lease liabilities, current | 2 | 666,000 | 496,963 | 483,186 | — | |
| Financing lease liabilities, current | 0 | 564,000 | 2 | 2 | — | |
| Total current liabilities | 13 | 7 | 6 | 4 | 72,460 | |
| Operating lease liabilities, non-current | 3 | 1 | 211,181 | 708,143 | — | |
| Deferred tax liabilities | 255,000 | 0 | — | — | — | |
| Total liabilities | 17 | 8 | 7 | 21 | 72,460 | |
| Commitments and contingencies (Note 13) | — | — | — | — | — | |
| Preferred stock, $0.0001 par value, 10,000,000 shares authorized, no shares issued or outstanding as of both December 31, 2025 and 2024 | 0 | 0 | 0 | — | — | |
| Common stock, $0.0001 par value; 300,000,000 shares authorized, 74,781,782 and 51,396,574 shares issued, and 74734949 and 51,288,566 shares outstanding as of December 31, 2025 and 2024, respectively | 7,000 | 5,000 | 2,450 | 683 | 500 | |
| Additional paid-in capital | 559 | 239 | 64 | 31 | — | |
| Accumulated other comprehensive income | 138,000 | 0 | — | — | — | |
| Accumulated deficit | −209 | −108 | −68 | −44 | −72,689 | |
| Total stockholders equity | 351 | 132 | −4 | −12 | 8 | |
| Total liabilities and stockholders equity | 368 | 140 | 3 | 9 | 271 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Stock-based compensation | 21 | 15 | 544,375 | 195,056 | — | |
| Depreciation & amortization | 8 | 310,000 | — | — | — | |
| Deferred income taxes | −5 | 0 | — | — | — | |
| Accretion of discount on available-for-sale securities | −1 | 0 | — | — | — | |
| Amortization of debt discount | 0 | 2 | 2 | 13,600 | — | |
| Change in fair value of derivative liability | 0 | 222,000 | — | — | — | |
| Accounts receivable, net | −697,000 | −84,000 | 20,742 | −23,697 | — | |
| Inventory | 0 | 465,000 | −156,087 | −154,840 | — | |
| Prepaid expenses | −5 | −720,000 | −595,630 | −81,339 | — | |
| Other receivables | −498,000 | −192,000 | 0 | — | — | |
| Accounts payable | −2 | 872,000 | 2 | −174,278 | — | |
| Accrued liabilities | 7 | 477,000 | 228,020 | 37,434 | — | |
| Deferred revenue | −18,000 | 20,000 | 0 | — | — | |
| Operating lease liabilities | −1 | 46,000 | −49,656 | −24,641 | — | |
| Net cash used in operating activities | −80 | −22 | −16 | −21 | −51,627 | |
| Purchases of marketable securities | −204 | 0 | — | — | — | |
| Proceeds from maturities and sales of marketable securities | 52 | 0 | — | — | — | |
| Purchases of property and equipment | −37 | −10 | −4,914 | −4 | — | |
| Acquisitions, net of cash acquired | −8 | 0 | — | — | — | |
| Security deposits | −506,000 | −66,000 | — | — | — | |
| Capitalized implementation costs | −405,000 | 0 | — | — | — | |
| Net cash used in investing activities | −198 | −10 | −4,914 | −4 | — | |
| Proceeds from issuance of common, net of offering costs | 171 | 36 | 10 | — | — | |
| Proceeds from issuance of common stock under the 2025 Equity Distribution Agreement, net of offering costs | 79 | 78 | — | — | — | |
| Proceeds from exercise of warrants | 11 | 22 | 0 | — | — | |
| Proceeds from exercise of options | 423,000 | 367,000 | 0 | — | — | |
| Repayments of financing lease liability | −186,000 | −2 | −2 | — | — | |
| Proceeds from short-swing profit disgorgement | 48,000 | 0 | — | — | — | |
| Proceeds from issuance of pre-funded warrants to purchase common stock in connection with private placement, net of issuance costs | 0 | 17 | 0 | — | — | |
| Proceeds from convertible notes payable, net of offering costs | 0 | 5 | 3 | — | — | |
| Repayments of note payable | 0 | −1 | −2 | −250,000 | — | |
| Repayment of note payable, related party | 0 | −70,000 | −449,000 | — | — | |
| Net cash provided by financing activities | 261 | 155 | 13 | 20 | 42,460 | |
| Effect of exchange rate changes on cash and cash equivalents | 1,000 | 0 | — | — | — | |
| Net change in cash and cash equivalents | −17 | 123 | — | — | −9,167 | |
| Cash paid for interest | 224,000 | 203,000 | 507,193 | 622,730 | — | |
| Cash paid for income taxes | 0 | 0 | 0 | — | — | |
| Operating lease right-of-use assets obtained for lease obligations | 5 | 2 | 0 | — | — | |
| Purchases of property and equipment, accrued but not paid | 2 | 2 | 0 | — | — | |
| Conversion of convertible notes and derivative into common stock | 0 | 7 | 4 | — | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Serve Robotics Inc. /DE/'s CIK number?
Serve Robotics Inc. /DE/'s SEC CIK number is 0001832483 (1832483). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Serve Robotics Inc. /DE/'s SEC filings?
All of Serve Robotics Inc. /DE/'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Serve Robotics Inc. /DE/ last report earnings?
Serve Robotics Inc. /DE/ (SERV) most recently filed an earnings 8-K with the SEC on May 7, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001832483-26-000017). This is Serve Robotics Inc. /DE/'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Serve Robotics Inc. /DE/'s most recent earnings 8-K?
Serve Robotics Inc. /DE/'s latest earnings 8-K (Item 2.02) was filed May 7, 2026 under accession 0001832483-26-000017. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Serve Robotics Inc. /DE/'s latest earnings 8-K →
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