Serve Robotics Inc. /DE/SERV

Serve Robotics Inc. /DE/ Goodwill & Intangibles Disclosure

10-KFiled Mar 12, 20261 min read
GOODWILL AND INTANGIBLE ASSETS, NET
Goodwill represents the excess of the cost over the net tangible and identifiable intangible assets of acquired businesses.
The changes in the carrying amount of goodwill during the year ended December 31, 2025 were as follows (in thousands):
Total
Balance as of December 31, 2024$— 
Acquisitions15,530 
Balance as of December 31, 2025$15,530 
Identifiable intangible assets acquired in business combinations are recorded based upon fair value at the date of acquisition. Carrying values are adjusted to reflect the impacts of foreign currency.
Intangible assets, net consisted of the following as of December 31, 2025 (in thousands):
Weighted-Average Remaining Useful Life (in years)Gross Carrying ValueAccumulated AmortizationNet Carrying Value
Developed technology
4.9$33,419 $(2,479)$30,940 
Customer relationships
24.3255 (7)248 
Trade names
9.3135 (10)125 
Balance as of December 31, 2025$33,809 $(2,496)$31,313 
Developed technology intangible assets are being amortized over 5 to 15 years. Customer relationships are being amortized over 25 years. Trade name intangible assets are being amortized over 10 years.
Amortization expense associated with the intangible assets was $2.5 million and zero for the years ended December 31, 2025 and 2024, respectively.
The estimated future amortization expense of intangible assets as of December 31, 2025 is as follows (in thousands):
Year Ending December 31,Amortization Expense
2026$6,577 
20276,577 
20286,577 
20296,577 
20304,144 
Thereafter861 
Total estimated future amortization expense$31,313 
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About Goodwill & Intangibles Disclosures

Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.

Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.

Other Available Disclosures

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