Company: SERV
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001832483-25-000089
Chunk: 12

Company: Serve Robotics Inc. /DE/
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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Item 1. Financial Statements

Serve Robotics Inc.

Condensed Consolidated Balance Sheets

(In thousands, except share and per share data)

(unaudited)

 June 30,2025December 31,2024ASSETSCurrent assets:Cash and cash equivalents$116,700 $123,266 Short-term marketable securities66,631 - Accounts receivable656 87 Inventory- 310 Prepaid expenses2,059 1,397 Other receivables484 192 Total current assets186,530 125,252 Property and equipment, net18,593 11,963 Intangible assets, net1,429 - Goodwill4,588 - Operating lease right-of-use assets2,416 1,808 Other non-current assets759 578 Total assets$214,315 $139,601    LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)  Current liabilities:  Accounts payable$2,531 $4,902 Accrued liabilities1,993 655 Deferred revenue10 20 Operating lease liabilities, current1,155 666 Financing lease liabilities, current- 564 Total current liabilities5,689 6,807 Operating lease liabilities, non-current1,420 1,113 Total liabilities7,109 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 June 30, 2025 and December 31, 2024- - Common stock, $0.0001 par value; 300,000,000 shares authorized, 59,441,060 and 51,396,574 shares issued and 59,333,332 and 51,288,566 shares outstanding as of June 30, 2025 and December 31, 2024, each respectively.6 5 Additional paid-in capital348,494 239,201 Accumulated other comprehensive income298 - Accumulated deficit(141,592)(107,525)Total stockholders’ equity207,206 131,681 Total liabilities and stockholders’ equity$214,315 $139,601 

See accompanying notes to the unaudited condensed consolidated financial statements.

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