Serve Robotics (SERV) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 2, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SERV SEC filings page.
Serve Robotics (SERV) reported $7.8M in revenue over the twelve months to Jun 30, 2026, up 426.3% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Serve’s dominant mechanic is equity-funded development: operating investment remains far larger than its commercial revenue base.
Revenue rose46.3% from FY2024, while gross profit became materially more negative; the top-line increase did not improve direct economics. That pattern alongside FY2025 R&D of$45.3M indicates development spending still outweighs commercialization by a wide margin.
Operating cash flow of
Financing cash flow was
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Serve Robotics's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Serve Robotics held $259.8M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $80.2M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Serve Robotics scores 63/100 among other emerging companies.
Serve Robotics had 76M shares outstanding at the end of fiscal year 2025. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Serve Robotics scores 14/100 among other emerging companies.
Serve Robotics spent $45.3M on research and development in fiscal year 2025, which was 39.2% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Serve Robotics scores 70/100 among other emerging companies.
Serve Robotics reported revenue of $2.7M in fiscal year 2025, against $1.8M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Serve Robotics scores 94/100 among other emerging companies.
Not available for Serve Robotics, and counted as zero in the overall score.
Serve Robotics's cash, cash equivalents and investments came to $259.8M at the end of fiscal year 2025, against $17.0M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Serve Robotics scores 98/100 among other emerging companies.
Serve Robotics scores 13.84, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($422.3M) relative to total liabilities ($17.0M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Serve Robotics passes 2 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
Serve Robotics reported a net loss of $101.4M while operations used $80.2M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Serve Robotics reported an operating loss of $112.8M against $3K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Serve Robotics generated $3.2M in revenue in Q2 2026. This represents an increase of 404.4% from the same quarter a year earlier. Against the prior quarter it is up 8.5%.
Serve Robotics's EBITDA was -$60.4M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 176.3% from the same quarter a year earlier. Against the prior quarter it is down 32.6%.
Serve Robotics reported -$64.1M in net income in Q2 2026. This represents a decrease of 207.6% from the same quarter a year earlier. Against the prior quarter it is down 30.9%.
Serve Robotics earned -$0.80 per diluted share (EPS) in Q2 2026. This represents a decrease of 122.2% from the same quarter a year earlier. Against the prior quarter it is down 23.1%.
Cash & Balance Sheet
Serve Robotics recorded an outflow of $44.3M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 101.3% from the same quarter a year earlier. Against the prior quarter it is down 3.3%.
Serve Robotics held $79.1M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Serve Robotics's ROE was -18.2% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 8.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.8 percentage points.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Serve Robotics invested $20.3M in research and development in Q2 2026. This represents an increase of 122.4% from the same quarter a year earlier. Against the prior quarter it is up 6.5%.
Serve Robotics invested $973K in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 83.9% from the same quarter a year earlier. Against the prior quarter it is down 32.6%.
Not reported for Q2 2026.
SERV Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.2M+404.4% | $3.0M+578.2% | $882K+400.3% | $687K+209.5% | $642K+37.2% | $440K-53.5% | $176K+312.7% | $222K+254.8% |
| Cost of Revenue | $12.0M+243.2% | $12.0M+527.8% | $7.6M+808.8% | $5.1M+1240.2% | $3.5M+973.9% | $1.9M+441.7% | $832K | $378K-34.0% |
| Gross Profit | -$8.8M-207.1% | -$9.0M-512.7% | -$6.7M-918.7% | -$4.4M-2707.1% | -$2.9M-2113.4% | -$1.5M-347.2% | -$655K | -$156K+69.4% |
| R&D Expenses | $20.3M+122.4% | $19.0M+176.7% | $15.9M+132.4% | $13.4M+167.9% | $9.1M+57.6% | $6.9M+3.6% | $6.8M | $5.0M+69.0% |
| SG&A Expenses | $24.8M+207.6% | $14.9M+214.0% | $11.1M+112.9% | $13.2M+564.3% | $8.1M+331.3% | $4.8M+371.2% | $5.2M | $2.0M+38.6% |
| Operating Income | -$66.1M-191.8% | -$51.8M-245.1% | -$40.3M-196.9% | -$34.8M-312.3% | -$22.6M-164.7% | -$15.0M-94.6% | -$13.6M | -$8.4M-51.4% |
| EBITDA | -$60.4M-176.3% | -$45.5M-213.3% | -$35.4M-165.9% | -$32.8M-288.8% | -$21.8M-155.6% | -$14.5M-88.9% | -$13.3M | -$8.4M-65.0% |
| Interest Expense | $0 | $0-100.0% | $0+100.0% | $0 | $0-100.0% | $3K-99.8% | -$1.3M | $0-100.0% |
| Income Tax | -$36K | -$648K | -$3.7M | $0 | $0 | $0 | $0 | $0 |
| Net Income | -$64.1M-207.6% | -$49.0M-270.8% | -$34.3M-161.3% | -$33.0M-313.0% | -$20.9M-130.7% | -$13.2M-46.2% | -$13.1M | -$8.0M-4.6% |
| EPS (Basic) | -$0.80-122.2% | -$0.65-182.6% | -$0.48-65.5% | -$0.54-170.0% | -$0.36-33.3% | -$0.23+37.8% | -$0.29-222.2% | -$0.20+51.2% |
| EPS (Diluted) | -$0.80-122.2% | -$0.65-182.6% | -$0.48 | -$0.54 | -$0.36 | -$0.23 | -$0.29-222.2% | -$0.20 |
| Diluted Shares (Avg) | 80M+39.6% | 75M+33.7% | N/A | 61M | 58M | 56M | N/A | 41M |
SERV Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $378.6M+76.7% | $340.8M+57.3% | $367.8M+163.4% | $299.1M+386.6% | $214.3M+554.1% | $216.6M+4998.6% | $139.6M+4877.7% | $61.5M+622.0% |
| Current Assets | $247.3M+32.6% | $201.1M+0.6% | $241.1M+92.5% | $219.7M+300.3% | $186.5M+504.0% | $200.0M+6492.8% | $125.3M+8472.9% | $54.9M+971.0% |
| Cash & Equivalents | $79.1M-32.2% | $47.1M-76.2% | $106.2M-13.8% | $116.8M+129.5% | $116.7M+305.5% | $197.8M+46161.3% | $123.3M+1824441.1% | $50.9M+1353.8% |
| Short-Term Investments | $156.3M+134.6% | $140.4M | $127.2M | $93.6M | $66.6M | $0 | $0 | $0 |
| Inventory | N/A | N/A | $0-100.0% | $0-100.0% | $0-100.0% | $0-100.0% | $310K-60.0% | $327K-62.3% |
| Accounts Receivable | $2.9M+339.5% | $3.9M+933.4% | $851K+878.2% | $805K+6045.5% | $656K+604.4% | $381K+43.4% | $87K+2844.2% | $13K+231.2% |
| Long-Term Investments | $5.0M | $9.9M | $26.3M | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $28.0M+510.2% | $28.0M | $15.5M | $11.8M | $4.6M | N/A | $0 | N/A |
| Total Liabilities | $26.8M+277.4% | $23.0M+257.9% | $17.0M+114.7% | $15.2M+188.1% | $7.1M+65.2% | $6.4M-50.7% | $7.9M+15.8% | $5.3M-13.9% |
| Current Liabilities | $19.3M+238.8% | $19.7M+275.3% | $13.3M+95.4% | $12.8M+147.6% | $5.7M+33.3% | $5.3M-58.9% | $6.8M+9.1% | $5.2M+6.1% |
| Non-Current Liabilities | $7.6M+432.4% | $3.3M+179.5% | $3.7M+233.2% | $2.5M+1733.1% | $1.4M+3930.7% | $1.2M+350.7% | $1.1M+85.3% | $135K-89.5% |
| Total Equity | $351.8M+69.8% | $317.8M+51.2% | $350.7M+166.4% | $283.9M+405.3% | $207.2M+628.0% | $210.2M+2486.6% | $131.7M+3364.3% | $56.2M+2271.5% |
| Retained Earnings | -$322.0M-127.4% | -$257.9M-113.6% | -$208.9M-94.3% | -$174.6M-85.0% | -$141.6M-63.9% | -$120.7M-56.1% | -$107.5M-57.4% | -$94.4M-54.1% |
Not reported in any period shown, so not listed: Long-Term Debt.
SERV Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$43.3M-171.4% | -$41.4M-337.7% | -$29.6M-373.3% | -$25.2M-361.2% | -$16.0M-178.0% | -$9.5M-132.0% | -$6.3M-70.4% | -$5.5M+4.3% |
| Depreciation & Amortization | $5.7M+612.5% | $6.3M+1217.5% | $4.8M+1667.8% | $2.0M+22288.9% | $800K+7900.0% | $475K+2550.2% | $273K-41.5% | $9K-98.1% |
| Stock-Based Compensation | $14.7M+233.9% | $7.4M+89.6% | N/A | $6.6M+202.6% | $4.4M+26.4% | $3.9M-8.8% | N/A | $2.2M+2023.2% |
| Capital Expenditures | $973K-83.9% | $1.4M-58.3% | $16.5M+239.8% | $11.3M+146.5% | $6.0M+659.7% | $3.5M+103522.8% | $4.9M+200519.6% | $4.6M+184296.3% |
| Free Cash Flow | -$44.3M-101.3% | -$42.9M-231.7% | -$46.1M-315.0% | -$36.5M-263.0% | -$22.0M-236.6% | -$12.9M-216.6% | -$11.1M-202.3% | -$10.1M-76.2% |
| Investing Cash Flow | -$8.1M+89.7% | -$19.6M-494.4% | -$75.9M-1440.8% | -$40.2M-774.7% | -$78.6M-9795.3% | -$3.3M-98702.4% | -$4.9M-203245.7% | -$4.6M-184296.3% |
| Financing Cash Flow | $83.4M+516.1% | $1.9M-97.8% | $95.0M+13.7% | $65.5M+103.4% | $13.5M-61.2% | $87.3M+1838.0% | $83.5M+45409.3% | $32.2M+250.3% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
SERV Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | -271.1% | -301.6% | -756.8% | -637.4% | -445.3% | -333.9% | -371.7% | -70.3% |
| Operating Margin | -2040.3% | -1735.3% | -4569.5% | -5067.8% | -3527.1% | -3410.5% | -7701.3% | -3804.1% |
| Net Margin | -1980.5% | -1642.2% | -3885.9% | -4806.4% | -3247.7% | -3003.9% | -7441.8% | -3601.8% |
| Return on Equity | -18.2%-8.2pp | -15.4%-9.1pp | -9.8%+0.2pp | -11.6%+2.6pp | -10.1%+21.7pp | -6.3% | -10.0% | -14.2%+308.5pp |
| Return on Assets | -16.9%-7.2pp | -14.4%-8.3pp | -9.3%+0.1pp | -11.0%+2.0pp | -9.7%+17.8pp | -6.1%+206.7pp | -9.4% | -13.0%+76.8pp |
| Current Ratio | 12.83-20.0x | 10.19-27.8x | 18.13-0.3x | 17.21+6.6x | 32.79+25.6x | 38.03+37.8x | 18.40+18.2x | 10.65+9.6x |
| Debt-to-Equity | 0.080.0x | 0.070.0x | 0.050.0x | 0.050.0x | 0.03-0.1x | 0.03 | 0.06 | 0.09-2.5x |
| Asset Turnover | 0.010.0x | 0.010.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.00-0.2x | 0.000.0x | 0.000.0x |
| FCF Margin | -1367.8% | -1436.5% | -5231.6% | -5314.1% | -3426.8% | -2937.3% | -6307.8% | -4529.7% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Gross Margin, Operating Margin, Net Margin, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Serve Robotics SERV | FY2025 | $2.7M | -$101.4M | N/A | $422.3M | 57/100 |
| Kornit Digital KRNT | FY2025 | $208.2M | -$13.5M | -6.5% | $723.6M | 49/100 |
| Thermon Group Hldgs Inc THR | FY2026 | $536.3M | $44.6M | 8.3% | $2.0B | 65/100 |
| Richtech Robotics Inc RR | FY2025 | $5.0M | -$49.1M | N/A | $420.9M | 45/100 |
| Graham Corp GHM | FY2026 | $245.3M | $12.5M | 5.1% | $1.0B | 50/100 |
| Nano Nuclear Energy Inc. NNE | FY2025 | N/A | -$40.1M | N/A | $982.1M | — |
Where Serve Robotics Ranks
Frequently Asked Questions
What is Serve Robotics's annual revenue?
Serve Robotics (SERV) reported $2.7M in total revenue for fiscal year 2025. This represents a 46.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Serve Robotics's revenue growing?
Serve Robotics (SERV) revenue grew by 46.2% year-over-year, from $1.8M to $2.7M in fiscal year 2025.
Is Serve Robotics profitable?
No, Serve Robotics (SERV) reported a net income of -$101.4M in fiscal year 2025.
What is Serve Robotics's EBITDA?
Serve Robotics (SERV) had EBITDA of -$104.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Serve Robotics's return on equity (ROE)?
Serve Robotics (SERV) has a return on equity of -28.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Serve Robotics's free cash flow?
Serve Robotics (SERV) recorded an outflow of $117.6M in free cash flow during fiscal year 2025. This represents a -269.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Serve Robotics's operating cash flow?
Serve Robotics (SERV) recorded an outflow of $80.2M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Serve Robotics's total assets?
Serve Robotics (SERV) had $367.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Serve Robotics's capital expenditures?
Serve Robotics (SERV) invested $37.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Serve Robotics spend on research and development?
Serve Robotics (SERV) invested $45.3M in research and development during fiscal year 2025.
What is Serve Robotics's current ratio?
Serve Robotics (SERV) had a current ratio of 18.13 as of fiscal year 2025, which is generally considered healthy.
What is Serve Robotics's debt-to-equity ratio?
Serve Robotics (SERV) had a debt-to-equity ratio of 0.05 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Serve Robotics's return on assets (ROA)?
Serve Robotics (SERV) had a return on assets of -27.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Serve Robotics's P/E ratio?
Serve Robotics (SERV) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $422.3M as of Sep 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Serve Robotics's price-to-sales ratio?
Serve Robotics (SERV) trades at 54.2x sales, its market capitalization divided by revenue of $7.8M revenue, trailing 12 months to June 30, 2026. The market capitalization is $422.3M as of Sep 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Serve Robotics's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Serve Robotics (SERV) held $259.8M in cash, cash equivalents and investments, and reported an operating cash outflow of $80.2M over that year. Dividing the one by the other, the reported balance equals about 39 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Serve Robotics's Altman Z-Score?
Serve Robotics (SERV) has an Altman Z-Score of 13.84, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Serve Robotics's Piotroski F-Score?
Serve Robotics (SERV) has a Piotroski F-Score of 2 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Serve Robotics's earnings high quality?
Serve Robotics (SERV) reported a net loss of $101.4M while operations used $80.2M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Serve Robotics cover its interest payments?
Serve Robotics (SERV) reported an operating loss of $112.8M against $3K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Serve Robotics?
Serve Robotics (SERV) scores 57 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.