Serve Robotics Inc. /DE/
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $2.7M | $1.8M | $207,545 | $107,819 | — |
| Cost of revenue | $18.0M | $1.9M | $1.7M | $1.1M | — |
| Gross profit | -$15.4M | -$75,000 | -$1.5M | -$1.0M | — |
| Research and development | $45.3M | $24.3M | $9.9M | $13.6M | — |
| Operating expenses | $97.4M | $38.2M | $19.2M | $19.9M | — |
| Operating income | -$112.8M | -$38.3M | -$20.7M | -$21.0M | -$54,627 |
| Interest expense | $3,000 | $2.0M | $2.3M | $636,330 | — |
| Pretax income | -$105.0M | -$39.2M | — | — | — |
| Income tax expense | -$3.7M | $0 | $0 | — | — |
| Net income | -$101.4M | -$39.2M | -$24.8M | -$21.9M | -$54,627 |
| Balance Sheet | |||||
| Cash and equivalents | $106.2M | $123.3M | $6,756 | $2.7M | — |
| Current assets | $241.1M | $125.3M | $1.5M | $3.4M | $271 |
| Total assets | $367.8M | $139.6M | $2.8M | $8.5M | $271 |
| Current liabilities | $13.3M | $6.8M | $6.2M | $3.9M | $72,460 |
| Total liabilities | $17.0M | $7.9M | $6.8M | $21.0M | $72,460 |
| Stockholders' equity | $350.7M | $131.7M | -$4.0M | -$12.5M | $8.3M |
| Cash Flow Statement | |||||
| Cash from operations | -$80.2M | -$21.5M | -$16.0M | -$21.4M | -$51,627 |
| Depreciation and amortization | $8.2M | $310,000 | $1.9M | $388,139 | — |
| Stock-based compensation | $21.3M | $14.6M | $544,375 | $195,056 | — |
| Capital expenditure | $37.3M | $10.3M | $4,914 | $3.6M | — |
| Free cash flow | -$117.6M | -$31.8M | -$16.0M | -$25.0M | — |
| Share repurchases | — | $0 | $3 | — | — |
| Impairments | $0 | $0 | $1.5M | — | — |
Shares outstanding 77.4M · Free float 85.9%
Annual filing data through FY ended December 31, 2025; float as of July 15, 2026.