Company: SERV
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001832483-25-000089
Chunk: 13

Company: Serve Robotics Inc. /DE/
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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Table of Contents 

Serve Robotics Inc.

Condensed Consolidated Statements of Operations

(In thousands, except share and per share data)

(unaudited)

Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024Revenues$642 $468 $1,082 $1,415 Cost of revenues3,501 326 5,410 678 Gross profit (loss)(2,859)142 (4,328)737 Operating expenses:General and administrative8,078 1,873 12,828 2,881 Operations2,124 871 3,793 1,412 Research and development9,120 5,788 16,000 12,426 Sales and marketing463 166 702 284 Total operating expenses19,785 8,698 33,323 17,003 Loss from operations(22,644)(8,556)(37,651)(16,266)Other income (expense):Interest income1,794 296 3,586 306 Interest expense- (556)(3)(1,893)Change in fair value of derivative liability- (222)- (222)Total other income (expense)1,794 (482)3,583 (1,809)Provision for income taxes— — — — Net loss$(20,850)$(9,038)$(34,068)$(18,075)Other comprehensive income (loss):Unrealized gain on foreign currency translation343 - 343 - Unrealized loss on investments(45)- (45)- Comprehensive income (loss)$(20,552)$(9,038)$(33,770)$(18,075)Weighted average common shares outstanding - basic and diluted57,514,808 33,795,009 56,953,711 29,176,370 Net loss per common share - basic and diluted$(0.36)$(0.27)$(0.60)$(0.62)

See accompanying notes to the unaudited condensed consolidated financial statements.

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Table of Contents 

 Serve Robotics Inc.

Condensed Consolidated Statements of Changes in Stockholders’ Equity (Deficit)

(In thousands, except share and per share data)

(unaudited)

Common StockAdditionalPaid-inCapitalSubscriptionReceivableAccumulatedDeficitAccumulated Other Comprehensive Income