Company: SERV
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001832483-25-000112
Chunk: 18

Company: Serve Robotics Inc. /DE/
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 18
---
Item 1. Financial Statements

Serve Robotics Inc.

Condensed Consolidated Balance Sheets

(In thousands, except share and per share data)

(unaudited)

 September 30,2025December 31,2024ASSETSCurrent assets:Cash and cash equivalents$116,839 $123,266 Short-term marketable securities93,608 - Accounts receivable, net805 87 Inventory- 310 Prepaid expenses7,626 1,397 Other receivables688 192 Other current assets133 - Total current assets219,699 125,252 Property and equipment, net30,057 11,963 Intangible assets, net32,871 - Goodwill11,839 - Operating lease right-of-use assets4,021 1,808 Other non-current assets612 578 Total assets$299,099 $139,601    LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)  Current liabilities:  Accounts payable$7,748 $4,902 Accrued liabilities3,343 655 Deferred revenue3 20 Operating lease liabilities, current1,669 666 Financing lease liabilities, current- 564 Total current liabilities12,763 6,807 Operating lease liabilities, non-current2,478 1,113 Total liabilities15,241 7,920 Commitments and contingencies (Note 11)Stockholders’ equity:Preferred stock, $0.0001 par value, 10,000,000 shares authorized, no shares issued or outstanding as of both September 30, 2025 and December 31, 2024- - Common stock, $0.0001 par value; 300,000,000 shares authorized, 67,811,201 and 51,396,574 shares issued and 67,761,023 and 51,288,566 shares outstanding as of September 30, 2025 and December 31, 2024, each respectively.7 5 Additional paid-in capital458,398 239,201 Accumulated other comprehensive income65 - Accumulated deficit(174,612)(107,525)Total stockholders’ equity283,858 131,681 Total liabilities and stockholders’ equity$299,099 $139,601 

See accompanying notes to the una