Company: SERV
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001832483-25-000089
Chunk: 89

Company: Serve Robotics Inc. /DE/
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 89
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0.69 $9,999     Exercisable as of June 30, 2025522,964$0.81 $5,983 Exercisable and expected to vest at June 30, 2025874,049$0.69 $9,999 As of June 30, 2025, the weighted average duration to expiration of outstanding options was 6.97 years.Stock-based compensation expense for stock options of $416 thousand and $186 thousand was recognized for the three months ended June 30, 2025 and 2024, respectively. Stock-based compensation expense for stock options of $454 thousand and $215 thousand was recognized for the six months ended June 30, 2025 and 2024, respectively. Total unrecognized compensation cost related to non-vested stock option awards amounted to approximately $166 thousand as of June 30, 2025, which will be recognized over a weighted average period of 1.31 years.

22

ClassificationStock-based compensation expense for stock options and restricted common stock and restricted stock units (Note 9) was classified in the statements of operations as follows (in thousands):          Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024General and administrative$2,061 $428 $3,885 $434 Operations96 138 176 144 Research and development2,158 2,861 4,087 7,101 Sales and marketing83 53 129 56 $4,398 $3,480 $8,277 $7,735 

11. COMMITMENTS AND CONTINGENCIES

Operating Leases – Right of Use Asset and LiabilityThe Company has leases for office, warehouse space, and cargo vans.Operating lease costs by financial statement line item are as follows (in thousands):Three Months EndedJune 30,Six Months EndedJune 30,TypeFinancial Statement Line Item2025202420252024Operating leaseGeneral and administrative$5 $9 $28 $18 Operating leaseOperations495 82 686 163 Operating leaseResearch and development5 35 74 69 Total lease costs$505 $126 $788 $250 Supplemental cash flow information related to leases is as follows (in thousands):Three Months EndedJune 30,Six Months EndedJune 30,202