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SERV

Updated: Mar 12, 2026 11:30 AM

Serve Robotics Inc. Common Stock

Market Cap: $910.19M P/S: 1326x Ownership — Insider: 11.1% | Institutional: 33.3% | Retail: 55.6% INDUSTRIALS SPECIALTY INDUSTRIAL MACHINERY

Serve Robotics Inc. (SERV) is a pioneering technology firm specializing in low-emission delivery robots aimed at transforming food delivery logistics in urban settings across the United States. Headquartered in Redwood City, California, the company leverages cutting-edge automation to deliver efficient and sustainable services, addressing the growing consumer demand for environmentally friendly solutions. With a strategic focus on the intersection of robotics and sustainability, Serve Robotics represents a compelling investment opportunity for institutional investors looking to capitalize on the future of eco-conscious logistics and urban mobility.

Revenue

Revenue, Profit & Income — explained by Jerry the Goat Farmer
Total RevenueEvery single dollar that wanders onto Jerry's farm. Cheese sales, milk money, goat yoga memberships, and that one weird guy who pays $50 to just watch the goats. Jerry doesn't ask questions.
Gross ProfitThe money left after feeding the goats but before reality sets in. Jerry feels rich for exactly 11 minutes.
Net IncomeWhat Jerry actually gets to keep after the Jerrynment, cousin Larry, the feed store, and his ex-wife's lawyer all take their cut. This number is often... humbling.
Using alias: revenuea -> totalRevenue [annual] [income]
Using alias: profita -> grossProfit [annual] [income]
Using alias: incomea -> netIncome [annual] [income]


Data Completeness:
------------------------------------------------------------
  ✅ totalRevenue                        4/4 dates (100%)
  ✅ grossProfit                         4/4 dates (100%)
  ✅ netIncome                           4/4 dates (100%)

Plot for SERV (in M)
  reports: annualReports
  showing last 25 entries
  Legend: totalRevenue, grossProfit, netIncome

               -39.19M                   -19.60M                    0.00M                    19.60M                    39.19M
               |                         |                         |                         |                         |

  2021-12-31 |                        █████████████████████████████| -21.67M
  2022-12-31 |                        █████████████████████████████|  -21.86M
  2023-12-31 |                    █████████████████████████████████|  -24.81M
  2024-12-31 | ████████████████████████████████████████████████████|█  -39.19M

               |                         |                         |                         |                         |
               -39.19M                   -19.60M                    0.00M                    19.60M                    39.19M

Costs

Operating Costs — explained by Jerry the Goat Farmer
Cost of Goods & Services SoldThe unglamorous stuff: hay, feed, vet bills for when Sergio the goat eats another iPhone. These goats don't feed themselves, and they definitely don't apologize.
Selling, General & AdministrativeThe "CHEESE HAPPENS" billboard on the highway, the accountant (cousin Larry, who definitely cheated in Monopoly as a kid), office supplies, and the therapy Jerry needs after dealing with cousin Larry.
Research & DevelopmentJerry's experimental ghost pepper goat cheese that made three customers cry. Also the goat treadmill. The goats refuse to use the goat treadmill.
Using alias: rnda -> researchAndDevelopment [annual] [income]
Using alias: sgaa -> sellingGeneralAndAdministrative [annual] [income]
Using alias: cogsa -> costofGoodsAndServicesSold [annual] [income]


Data Completeness:
------------------------------------------------------------
  ✅ researchAndDevelopment              4/4 dates (100%)
  ✅ sellingGeneralAndAdministrative     4/4 dates (100%)
  ✅ costofGoodsAndServicesSold          4/4 dates (100%)

Plot for SERV (in M)
  reports: annualReports
  showing last 25 entries
  Legend: researchAndDevelopment, sellingGeneralAndAdministrative, costofGoodsAndServicesSold

               0.00M                     6.06M                    12.13M                    18.19M                    24.26M
               |                         |                         |                         |                         |

  2021-12-31 | ██████████████████████████████ 7.09M
  2022-12-31 | ██████████████████████████████████████████████████████████ 13.57M
  2023-12-31 | ███████████████████████████████████████████ 9.95M
  2024-12-31 | ████████████████████████████████████████████████████████████████████████████████████████████████████████ 24.26M

               |                         |                         |                         |                         |
               0.00M                     6.06M                    12.13M                    18.19M                    24.26M

Cash

Cash, Debt & Cash Flow — explained by Jerry the Goat Farmer
Cash & Short-Term InvestmentsThe coffee can buried behind the barn, $47 in a savings account, and some cryptocurrency Jerry bought drunk in 2021. He's afraid to check on it.
Short/Long-Term DebtThe barn loan that'll follow Jerry to the grave (long-term) and the $200 he owes the feed store guy who's starting to give him looks (short-term).
Operating Cash FlowReal cash moving in and out. Not "my customer promised to pay me" money. Actual dollars. Jerry has trust issues now.
Using alias: casha -> cashAndShortTermInvestments [annual] [balance]
Using alias: debta -> shortLongTermDebtTotal [annual] [balance]
Using alias: paychecka -> operatingCashflow [annual] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ cashAndShortTermInvestments         4/4 dates (100%)
  ⚠️  shortLongTermDebtTotal              3/4 dates (75%)
  ✅ operatingCashflow                   4/4 dates (100%)

Plot for SERV (in M)
  reports: annualReports
  showing last 25 entries
  Legend: cashAndShortTermInvestments, shortLongTermDebtTotal, operatingCashflow

               -123.27M                   -61.63M                    0.00M                    61.63M                    123.27M
               |                         |                         |                         |                         |

  2021-12-31 |                                                █████|██  -10.71M ⊗
  2022-12-31 |                                            █████████|██  -21.40M
  2023-12-31 |                                              ███████|█  -15.97M
  2024-12-31 |                                            █████████|███████████████████████████████████████████████████ 123.27M

               |                         |                         |                         |                         |
               -123.27M                   -61.63M                    0.00M                    61.63M                    123.27M

FCF

Free Cash Flow — explained by Jerry the Goat Farmer
Operating Cash FlowReal cash moving in and out. Not "my customer promised to pay me" money. Actual dollars. Jerry has trust issues now.
Capital ExpendituresBig, expensive purchases Jerry justifies at 2am: the industrial milking machine, new fencing, and a hot tub "for the goats" that somehow only Jerry uses.
Using alias: paychecka -> operatingCashflow [annual] [cashflow]
Using alias: capexa -> capitalExpenditures [annual] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ operatingCashflow                   4/4 dates (100%)
  ✅ capitalExpenditures                 4/4 dates (100%)

Plot for SERV (in M)
  reports: annualReports
  showing last 25 entries
  Legend: operatingCashflow, capitalExpenditures

               -21.54M                   -10.77M                    0.00M                    10.77M                    21.54M
               |                         |                         |                         |                         |

  2021-12-31 |                           ██████████████████████████|  -10.71M
  2022-12-31 | ████████████████████████████████████████████████████|████████  -21.40M
  2023-12-31 |              ███████████████████████████████████████|  -15.97M
  2024-12-31 | ████████████████████████████████████████████████████|████████████████████████  -21.54M

               |                         |                         |                         |                         |
               -21.54M                   -10.77M                    0.00M                    10.77M                    21.54M

Assets

Assets, Liabilities & Equity — explained by Jerry the Goat Farmer
🐐 Assets = Liabilities + Equity

Translation: What Jerry owns = What Jerry owes + What's actually Jerry's

Or as Jerry mutters every April during tax season:
"Everything I have equals everything I owe plus whatever scraps are left for me, a humble goat man just trying to make cheese in this cruel world."
Total AssetsEverything Jerry owns: 12 acres of land, a barn that's "rustic" (rotting), 47 goats, Sergio (appraised at $800, priceless to Jerry), the cheese cave, and a 2004 Ford F-150 held together by duct tape and prayer.
Total LiabilitiesEverything Jerry owes: bank loans, the feed store tab, back taxes, and a moral debt to his neighbor for "borrowing" that tractor in 2019. They both know he's not returning it.
Total Shareholder EquityIf Jerry sold absolutely everything, paid off every debt, and finally returned that tractor... this is what he'd have left. His actual net worth. Some days it's a retirement fund. Other days it's "enough for a bus ticket and a fresh start."
Using alias: assetsa -> totalAssets [annual] [balance]
Using alias: liabila -> totalLiabilities [annual] [balance]
Using alias: equitya -> totalShareholderEquity [annual] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ totalAssets                         4/4 dates (100%)
  ✅ totalLiabilities                    4/4 dates (100%)
  ✅ totalShareholderEquity              4/4 dates (100%)

Plot for SERV (in M)
  reports: annualReports
  showing last 25 entries
  Legend: totalAssets, totalLiabilities, totalShareholderEquity

               -139.60M                   -69.80M                    0.00M                    69.80M                    139.60M
               |                         |                         |                         |                         |

  2021-12-31 |                                                     |██  8.66M
  2022-12-31 |                                                █████|███████  21.00M
  2023-12-31 |                                                   ██|██  6.84M
  2024-12-31 |                                                     |███████████████████████████████████████████████████ 139.60M

               |                         |                         |                         |                         |
               -139.60M                   -69.80M                    0.00M                    69.80M                    139.60M

Buffet

Using alias: incomea -> netIncome [annual] [income]
Using alias: debta -> shortLongTermDebtTotal [annual] [balance]
Using alias: equitya -> totalShareholderEquity [annual] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ netIncome                           4/4 dates (100%)
  ⚠️  shortLongTermDebtTotal              3/4 dates (75%)
  ✅ totalShareholderEquity              4/4 dates (100%)

Plot for SERV (in M)
  reports: annualReports
  showing last 25 entries
  Legend: netIncome, shortLongTermDebtTotal, totalShareholderEquity

               -131.68M                   -65.84M                    0.00M                    65.84M                    131.68M
               |                         |                         |                         |                         |

  2021-12-31 |                                            █████████|██  -21.67M ⊗
  2022-12-31 |                                            █████████|██  -21.86M
  2023-12-31 |                                           ██████████|█  -24.81M
  2024-12-31 |                                      ███████████████|███████████████████████████████████████████████████ 131.68M

               |                         |                         |                         |                         |
               -131.68M                   -65.84M                    0.00M                    65.84M                    131.68M

Revenue-q

Using alias: revenue -> totalRevenue [quarterly] [income]
Using alias: profit -> grossProfit [quarterly] [income]
Using alias: income -> netIncome [quarterly] [income]


Data Completeness:
------------------------------------------------------------
  ✅ totalRevenue                        13/13 dates (100%)
  ✅ grossProfit                         13/13 dates (100%)
  ✅ netIncome                           13/13 dates (100%)

Plot for SERV (in M)
  reports: quarterlyReports
  showing last 25 entries
  Legend: totalRevenue, grossProfit, netIncome

               -33.02M                   -16.51M                    0.00M                    16.51M                    33.02M
               |                         |                         |                         |                         |

  2022-09-30 |                                             ████████|  -5.36M
  2022-12-31 |                                          ███████████|  -7.04M
  2023-03-31 |                                             ████████|  -5.14M
  2023-06-30 |                                             ████████|  -4.97M
  2023-09-30 |                                         ████████████|  -7.65M
  2023-12-31 |                                          ███████████|  -7.06M
  2024-03-31 |                                       ██████████████|  -9.04M
  2024-06-30 |                                       ██████████████|  -9.04M
  2024-09-30 |                                        █████████████|  -8.00M
  2024-12-31 |                                █████████████████████|  -13.12M
  2025-03-31 |                                █████████████████████|  -13.22M
  2025-06-30 |                    █████████████████████████████████|  -20.85M
  2025-09-30 | ████████████████████████████████████████████████████|  -33.02M

               |                         |                         |                         |                         |
               -33.02M                   -16.51M                    0.00M                    16.51M                    33.02M

Costs-q

Using alias: rnd -> researchAndDevelopment [quarterly] [income]
Using alias: sga -> sellingGeneralAndAdministrative [quarterly] [income]
Using alias: cogs -> costofGoodsAndServicesSold [quarterly] [income]


Data Completeness:
------------------------------------------------------------
  ✅ researchAndDevelopment              13/13 dates (100%)
  ✅ sellingGeneralAndAdministrative     13/13 dates (100%)
  ✅ costofGoodsAndServicesSold          13/13 dates (100%)

Plot for SERV (in M)
  reports: quarterlyReports
  showing last 25 entries
  Legend: researchAndDevelopment, sellingGeneralAndAdministrative, costofGoodsAndServicesSold

               0.00M                     3.35M                     6.71M                    10.06M                    13.41M
               |                         |                         |                         |                         |

  2022-09-30 | █████████████████████████ 3.26M
  2022-12-31 | █████████████████████████████████ 4.29M
  2023-03-31 | ████████████████ 2.08M
  2023-06-30 | ████████████████ 2.13M
  2023-09-30 | ███████████████████████ 2.96M
  2023-12-31 | ██████████████████████ 2.78M
  2024-03-31 | ███████████████████████████████████████████████████ 6.64M
  2024-06-30 | █████████████████████████████████████████████ 5.79M
  2024-09-30 | ███████████████████████████████████████ 5.01M
  2024-12-31 | █████████████████████████████████████████████████████ 6.82M
  2025-03-31 | █████████████████████████████████████████████████████ 6.88M
  2025-06-30 | ███████████████████████████████████████████████████████████████████████ 9.12M
  2025-09-30 | ████████████████████████████████████████████████████████████████████████████████████████████████████████ 13.41M

               |                         |                         |                         |                         |
               0.00M                     3.35M                     6.71M                    10.06M                    13.41M

Cash-q

Using alias: cash -> cashAndShortTermInvestments [quarterly] [balance]
Using alias: debt -> shortLongTermDebtTotal [quarterly] [balance]
Using alias: paycheck -> operatingCashflow [quarterly] [cashflow]


Data Completeness:
------------------------------------------------------------
  ⚠️  cashAndShortTermInvestments         11/13 dates (85%)
  ⚠️  shortLongTermDebtTotal              11/13 dates (85%)
  ⚠️  operatingCashflow                   12/13 dates (92%)

Plot for SERV (in M)
  reports: quarterlyReports
  showing last 25 entries
  Legend: cashAndShortTermInvestments, shortLongTermDebtTotal, operatingCashflow

               -197.76M                   -98.88M                    0.00M                    98.88M                    197.76M
               |                         |                         |                         |                         |

  2022-12-31 |                                                    █|█  7.48M
  2023-03-31 |                                                    █| -3.71M ⊗⊗
  2023-06-30 |                                                    █|█  8.63M
  2023-09-30 |                                                    █|  -5.70M
  2023-12-31 |                                                    █|  4.37M
  2024-03-31 |                                                    █|█  8.47M
  2024-06-30 |                                                   ██|███████  28.78M
  2024-09-30 |                                                    █|████████████  50.91M
  2024-12-31 |                                                   ██|███████████████████████████████  123.27M
  2025-03-31 |                                                   ██|███████████████████████████████████████████████████ 197.76M
  2025-06-30 |                                                 ████|██████████████████████████████  116.70M
  2025-09-30 |                                              ███████|██████████████████████████████  116.84M

               |                         |                         |                         |                         |
               -197.76M                   -98.88M                    0.00M                    98.88M                    197.76M

FCF-q

Using alias: paycheck -> operatingCashflow [quarterly] [cashflow]
Using alias: capex -> capitalExpenditures [quarterly] [cashflow]


Data Completeness:
------------------------------------------------------------
  ⚠️  operatingCashflow                   12/13 dates (92%)
  ✅ capitalExpenditures                 13/13 dates (100%)

Plot for SERV (in M)
  reports: quarterlyReports
  showing last 25 entries
  Legend: operatingCashflow, capitalExpenditures

               -25.18M                   -12.59M                    0.00M                    12.59M                    25.18M
               |                         |                         |                         |                         |

  2022-09-30 |                                                     | 0.00M ⊗
  2022-12-31 |                                            █████████|██████  -4.42M
  2023-03-31 |                                             ████████| -3.71M
  2023-06-30 |                                               ██████| -2.88M
  2023-09-30 |                                         ████████████|  -5.70M
  2023-12-31 |                                             ████████|  -3.68M
  2024-03-31 |                                             ████████|  -4.08M
  2024-06-30 |                                         ████████████|█  -5.74M
  2024-09-30 |                                          ███████████|████████  -5.46M
  2024-12-31 |                                        █████████████|█████████  -6.26M
  2025-03-31 |                                 ████████████████████|██████  -9.46M
  2025-06-30 |                    █████████████████████████████████|███████████  -15.96M
  2025-09-30 | ████████████████████████████████████████████████████|███████████████████████  -25.18M

               |                         |                         |                         |                         |
               -25.18M                   -12.59M                    0.00M                    12.59M                    25.18M

Assets-q

Using alias: assets -> totalAssets [quarterly] [balance]
Using alias: liabil -> totalLiabilities [quarterly] [balance]
Using alias: equity -> totalShareholderEquity [quarterly] [balance]


Data Completeness:
------------------------------------------------------------
  ⚠️  totalAssets                         11/13 dates (85%)
  ⚠️  totalLiabilities                    11/13 dates (85%)
  ⚠️  totalShareholderEquity              11/13 dates (85%)

Plot for SERV (in M)
  reports: quarterlyReports
  showing last 25 entries
  Legend: totalAssets, totalLiabilities, totalShareholderEquity

               -299.10M                  -149.55M                    0.00M                    149.55M                   299.10M
               |                         |                         |                         |                         |

  2022-12-31 |                                                   ██|███  21.00M
  2023-06-30 |                                                 ████|████  27.37M
  2023-09-30 |                                                     |  8.51M
  2023-12-31 |                                                    █|  6.84M
  2024-03-31 |                                                   ██|█  13.05M
  2024-06-30 |                                                     |█████  32.77M
  2024-09-30 |                                                     |██████████  61.47M
  2024-12-31 |                                                     |███████████████████████  139.60M
  2025-03-31 |                                                     |█████████████████████████████████████  216.59M
  2025-06-30 |                                                     |████████████████████████████████████  214.31M
  2025-09-30 |                                                     |███████████████████████████████████████████████████ 299.10M

               |                         |                         |                         |                         |
               -299.10M                  -149.55M                    0.00M                    149.55M                   299.10M

Buffet-q

Using alias: income -> netIncome [quarterly] [income]
Using alias: debt -> shortLongTermDebtTotal [quarterly] [balance]
Using alias: equity -> totalShareholderEquity [quarterly] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ netIncome                           13/13 dates (100%)
  ⚠️  shortLongTermDebtTotal              11/13 dates (85%)
  ⚠️  totalShareholderEquity              11/13 dates (85%)

Plot for SERV (in M)
  reports: quarterlyReports
  showing last 25 entries
  Legend: netIncome, shortLongTermDebtTotal, totalShareholderEquity

               -283.86M                  -141.93M                    0.00M                    141.93M                   283.86M
               |                         |                         |                         |                         |

  2022-09-30 |                                                    █| -5.36M ⊗⊗
  2022-12-31 |                                                   ██|  -12.45M
  2023-03-31 |                                                    █| -5.14M ⊗⊗
  2023-06-30 |                                                 ████|█  -22.35M
  2023-09-30 |                                                    █|  -7.65M
  2023-12-31 |                                                    █|  -7.06M
  2024-03-31 |                                                   ██|█  -9.04M
  2024-06-30 |                                                   ██|████  28.46M
  2024-09-30 |                                                    █|█████████  56.18M
  2024-12-31 |                                                   ██|███████████████████████  131.68M
  2025-03-31 |                                                   ██|█████████████████████████████████████  210.16M
  2025-06-30 |                                                 ████|█████████████████████████████████████  207.21M
  2025-09-30 |                                               ██████|███████████████████████████████████████████████████ 283.86M

               |                         |                         |                         |                         |
               -283.86M                  -141.93M                    0.00M                    141.93M                   283.86M

Price History

Volume

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