Company: SERV
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001832483-25-000112
Chunk: 19

Company: Serve Robotics Inc. /DE/
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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udited condensed consolidated financial statements.

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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 EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024Revenues$687 $222 $1,769 $1,637 Cost of revenues5,066 378 10,476 1,056 Gross profit (loss)(4,379)(156)(8,707)581 Operating expenses:General and administrative13,153 1,980 25,981 4,861 Operations2,987 917 6,780 2,330 Research and development13,414 5,008 29,414 17,434 Sales and marketing883 384 1,585 668 Total operating expenses30,437 8,289 63,760 25,293 Loss from operations(34,816)(8,445)(72,467)(24,712)Other income (expense):Interest income1,707 483 5,293 789 Interest expense- (34)(3)(1,926)Realized gain on foreign currency translation4 - 4 - Realized gain on investments85 - 85 - Change in fair value of derivative liability- - - (222)Total other income (expense)1,796 449 5,379 (1,359)Provision for income taxes— — — — Net loss$(33,020)$(7,996)$(67,088)$(26,071)Other comprehensive income (loss):Unrealized loss on foreign currency translation(343)- - - Unrealized gain on investments110 - 65 - Comprehensive income (loss)$(33,253)$(7,996)$(67,023)$(26,071)Weighted average common shares outstanding - basic and diluted61,343,218 40,586,781 58,472,679 33,267,589 Net loss per common share - basic and diluted$(0.54)$(0.20)$(1.15)$(0.78)

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