Company: SERV
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001832483-25-000112
Chunk: 23

Company: Serve Robotics Inc. /DE/
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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279)Cash flows from investing activities:Purchases of property and equipment(20,831)(5,395)Purchases of short-term marketable securities(107,485)- Proceeds from maturity of marketable securities14,200 - Security deposits(119)- Acquisition, net of cash acquired(7,504)- Capitalized software(405)- Net cash used in investing activities(122,144)(5,395)Cash flows from financing activities:Proceeds from issuance of common stock, net of offering costs75,847 35,849 Proceeds from issuance of common stock under the 2025 Equity Distribution Agreement, net of offering costs78,767 - Proceeds from issuance of prefunded warrants to purchase common stock in connection with private placement, net of issuance costs- 17,116 Proceeds from exercise of warrants11,381 16,325 Proceeds from exercise of options405 87 Proceeds from short-swing profit disgorgement48 - Payments of deferred offering costs- - Repayment of financing lease liability(186)(1,322)Proceeds from convertible notes payable, net of offering costs- 4,845 Repayments of notes payable, related party- (70)Repayments of note payable- (1,250)Net cash provided by financing activities166,262 71,580 Effect of exchange rate changes on cash and cash equivalents56 - Net change in cash and cash equivalents(6,427)50,906 Cash and cash equivalents at beginning of period123,266 7 Cash and cash equivalents at end of period$116,839 $50,913 

Supplemental disclosure of cash flow information:Cash paid for income taxes$- $- Cash paid for interest$93 $50 Supplemental disclosure of non-cash investing and financing activities:Purchases of property and equipment, accrued but not paid$1,339 $- Conversion of convertible notes and derivative into common stock$- $6,804 

See accompanying notes to the unaudited condensed consolidated financial statements

4

Serve Robotics Inc.

Notes to the Unaudited Condensed Consolidated Financial Statements

1. NATURE OF OPERATIONS, HISTORY, ORGANIZATION AND BUSINESS

Serve Operating Co. (formerly known as Serve Robotics Inc.) (“Serve”) is a corporation formed on January 15, 2021 under the laws of the State of Delaware