Company: SERV
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001832483-25-000038
Chunk: 17

Company: Serve Robotics Inc. /DE/
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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 liabilities and stockholders’ equity (deficit)$216,594,616 $139,600,873 

See accompanying notes to the unaudited condensed consolidated financial statements.

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Table of Contents 

Serve Robotics Inc.

Condensed Consolidated Statements of Operations

(unaudited)

 Three Months EndedMarch 31, 20252024 Revenues$440,465 $946,711 Cost of revenues1,908,773 352,438 Gross profit (loss)(1,468,308)594,273  Operating expenses:General and administrative4,749,952 1,008,071 Operations1,667,641 540,974 Research and development6,879,851 6,638,441 Sales and marketing238,933 118,236 Total operating expenses13,536,377 8,305,722  Loss from operations(15,004,685)(7,711,449) Other income (expense):Interest income1,791,796 9,994 Interest expense(3,403)(1,336,516)Total other income (expense)1,788,393 (1,326,522) Provision for income taxes- - Net loss$(13,216,292)$(9,037,971)  Weighted average common shares outstanding - basic and diluted56,319,29924,556,343Net loss per common share - basic and diluted$(0.23)$(0.37)

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)

(unaudited)

Common StockAdditionalPaid-inCapitalSubscriptionReceivableAccumulatedDeficitTotalStockholders’Equity(Deficit)SharesAmountBalances at December 31, 202324,508,795$2,450 $64,468,141 $(169,616)$(68,334,381)(4,033,406)Exercise of warrants125,00012 5,820 - - 5,832 Interest on recourse loan-- - 3,987 - 3,987 Stock-based compensation-- 4,255,432 - - 4,255,432 Net loss-- - - (9,037,971)(9,037,971)