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Serve Robotics Inc.(SERV)Earnings, Financials & Key Ratios
SERV•NASDAQ
Price updated Jun 19, 2026
AboutServe Robotics Inc. designs, develops, and operates low-emission robots that serve people in public spaces with food delivery in the United States. It builds self-driving delivery robots. The company was formerly known as Patricia Acquisition Corp. and changed its name to Serve Robotics Inc. in July 2023. Serve Robotics Inc. was founded in 2017 and is based in Redwood City, California.Show more
- Revenue$3M+46.3%
- EBITDA-$105M-175.3%
- Net Income-$101M-158.6%
- EPS (Diluted)-1.63-52.3%
- Gross Margin-580.23%-13893.0%
- EBITDA Margin-3944.02%-88.2%
- Operating Margin-4253.83%-101.4%
- Net Margin-3823.5%-76.8%
- ROE-42.02%+31.6%
SERV Key Insights
Serve Robotics Inc. (SERV) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Company is almost debt free
- ✓Trading at only 1.2x book value
✗Weaknesses
- ✗Weak Piotroski F-Score: 3/9
- ✗Negative free cash flow
- ✗Weak momentum: RS Rating 10 (bottom 10%)
- ✗Shares diluted 69.9% in last year
- ✗Trading more than 30% below 52-week high
- ✗Low asset turnover indicates capital-intensive operations
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
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SERV Price & Volume
Serve Robotics Inc. (SERV) stock price & volume — 10-year historical chart
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SERV Growth Metrics
Serve Robotics Inc. (SERV) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years190.78%
TTM297.67%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-216.23%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-68.91%
Return on Capital
10 Years-793.99%
5 Years-793.99%
3 Years-1173.05%
Last Year-46.29%
SERV Recent Earnings
Serve Robotics Inc. (SERV) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 2/12 qtrs (25%)●Beat Revenue 4/12 qtrs (50%)
Q2 2026Latest
May 7, 2026Metric
Actual
Est
EPS
$0.65+0.0%
$0.65
Rev
$3M+3.3%
$3M
Q2 2026
Mar 11, 2026Metric
Actual
Est
EPS
$0.46+6.1%
$0.49
Rev
$882,000+14.9%
$767,582
Q4 2025
Nov 12, 2025Metric
Actual
Est
EPS
$0.54-45.9%
$0.37
Rev
$686,535-10.3%
$765,460
Q3 2025
Aug 7, 2025Metric
Actual
Est
EPS
$0.36-56.5%
$0.23
Rev
$642,000+2.7%
$624,850
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 7, 2026 | $0.65vs $0.65+0.0% | $3Mvs $3M+3.3% |
| Q2 2026 | Mar 11, 2026 | $0.46vs $0.49+6.1% | $882,000vs $767,582+14.9% |
| Q4 2025 | Nov 12, 2025 | $0.54vs $0.37-45.9% | $686,535vs $765,460-10.3% |
| Q3 2025 | Aug 7, 2025 | $0.36vs $0.23-56.5% | $642,000vs $624,850+2.7% |
Based on last 12 quarters of dataView full earnings history →
SERV Peer Comparison
Serve Robotics Inc. (SERV) competitors in Robotics and factory automation — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 CART | 10.55B | 44.55 | 27.84 | 10.78% | 12.55% | 16.35% | 0.01 | |
 COUR | 905.83M | 5.35 | -17.26 | 9.04% | -8.23% | -10.06% | 0.01 | |
 UBER | 148.39B | 71.64 | 15.15 | 18.28% | 15.91% | 32.02% | 0.48 | |
 DASH | 75.58B | 173.46 | 81.44 | 27.93% | 6.28% | 9.56% | 0.37 | |
 RLAY | 3B | 15.88 | -9.86 | 53.44% | -25.54% | -43.94% | 0.06 | |
 NVDA | 5.1T | 210.69 | 43.00 | 65.47% | 62.97% | 111.66% | 0.07 | |
 QCOM | 238.32B | 226.11 | 45.13 | 13.66% | 22.31% | 40.19% | 0.77 | |
 MBLY | 6.89B | 8.46 | -17.63 | 14.51% | -203.97% | -37.31% |
Compare SERV vs Peers
Serve Robotics Inc. (SERV) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
SERV Income Statement
Serve Robotics Inc. (SERV) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Metric | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|
Sales/Revenue | 0 | 107.82K | 207.54K | 1.81M | 2.65M | 5.19M |
Revenue Growth % | - | - | 92.49% | 773.3% | 46.26% | 297.67% |
Cost of Goods Sold | 42.47K | 1.15M | 1.73M | 1.89M | 18.03M | 28.11M |
COGS % of Revenue | - | 1065.14% | 833.68% | 104.15% | 680.23% | - |
Gross Profit | -42.47K▲ 0% | -1.04M▼ 2350.3% | -1.52M▼ 46.3% | -75.16K▲ 95.1% | -15.38M▼ 20366.8% | -22.91M▲ 0% |
Gross Margin % | - | -965.14% | -733.68% | -4.15% | -580.23% | -441.13% |
Gross Profit Growth % | - | -2350.27% | -46.33% | 95.06% | -20366.76% | - |
Operating Expenses | 10.62M | 19.91M | 19.2M | 38.21M | 97.39M | 126.63M |
OpEx % of Revenue | - | 18468.4% | 9253.36% | 2108.37% | 3673.59% | - |
Selling, General & Admin | 2.61M | 4.31M | 5.22M | 10.61M | 40.02M | 51.82M |
SG&A % of Revenue | - | 3998.94% | 2516.9% | 585.61% | 1509.58% | - |
Research & Development | 7.09M | 13.57M | 9.95M | 24.26M | 45.27M | 57.42M |
R&D % of Revenue | - | 12581.98% | 4792.82% | 1338.22% | 1707.54% | - |
Other Operating Expenses | 924.5K | 2.04M | 4.03M | 3.34M | 12.1M | 4M |
Operating Income | -10.62M▲ 0% | -20.95M▼ 97.3% | -20.73M▲ 1.1% | -38.29M▼ 84.7% | -112.77M▼ 194.5% | -149.55M▲ 0% |
Operating Margin % | - | -19433.54% | -9987.04% | -2112.51% | -4253.83% | -2878.92% |
Operating Income Growth % | - | -97.25% | 1.08% | -84.72% | -194.52% | - |
EBITDA | -10.58M | -20.56M | -18.86M | -37.98M | -104.56M | -135.5M |
EBITDA Margin % | - | -19073.55% | -9088.96% | -2095.43% | -3944.02% | -2608.53% |
EBITDA Growth % | - | -94.38% | 8.27% | -101.34% | -175.3% | -202.35% |
D&A (Non-Cash Add-back) | 42.47K | 388.14K | 1.86M | 309.71K | 8.21M | 14.05M |
EBIT | -21.67M | -21.22M | -19.26M | -38.29M | -112.77M | -145.95M |
Net Interest Income | 0 | -636.33K | -2.26M | -680.55K | 0 | 7.58M |
Interest Income | 0 | 0 | 0 | 0 | 0 | 7.59M |
Interest Expense | 0 | 636.33K | 2.26M | 680.55K | 0 | 6.4K |
Other Income/Expense | -11.04M | -902.07K | -4.09M | -902.11K | 7.75M | 8.09M |
Pretax Income | -21.67M▲ 0% | -21.86M▼ 0.9% | -24.81M▼ 13.5% | -39.19M▼ 57.9% | -105.02M▼ 168.0% | -141.45M▲ 0% |
Pretax Margin % | - | -20270.2% | -11955.83% | -2162.29% | -3961.41% | -2723.11% |
Income Tax | 0 | 0 | 0 | 0 | -3.66M | -4.3M |
Effective Tax Rate % | 0% | 0% | 0% | 0% | 3.48% | 3.04% |
Net Income | -21.67M▲ 0% | -21.86M▼ 0.9% | -24.81M▼ 13.5% | -39.19M▼ 57.9% | -101.36M▼ 158.6% | -137.15M▲ 0% |
Net Margin % | - | -20270.2% | -11955.83% | -2162.29% | -3823.5% | -2640.25% |
Net Income Growth % | - | -0.88% | -13.54% | -57.94% | -158.63% | -216.23% |
Net Income (Continuing) | -21.67M | -21.86M | -24.81M | -39.19M | -101.36M | -137.15M |
Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
EPS (Diluted) | -0.58▲ 0% | -0.59▼ 1.7% | -0.67▼ 13.6% | -1.07▼ 59.7% | -1.63▼ 52.3% | -1.80▲ 0% |
EPS Growth % | - | -1.72% | -13.56% | -59.7% | -52.34% | -68.91% |
EPS (Basic) | -0.58 | -0.59 | -0.67 | -1.07 | -1.63 | - |
Diluted Shares Outstanding | 36.94M | 36.94M | 36.94M | 36.66M | 62.28M | 76.01M |
Basic Shares Outstanding | 36.94M | 36.94M | 36.94M | 36.66M | 62.28M | 76.01M |
Dividend Payout Ratio | - | - | - | - | - | - |
SERV Balance Sheet
Serve Robotics Inc. (SERV) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|
Total Current Assets | 8.44M | 3.44M | 1.46M | 125.25M | 241.07M | 201.13M |
Cash & Short-Term Investments | 7.97M | 2.72M | 6.76K | 123.27M | 233.41M | 187.48M |
Cash Only | 7.97M | 2.72M | 6.76K | 123.27M | 106.24M | 47.11M |
Short-Term Investments | 0 | 0 | 0 | 0 | 127.17M | 140.36M |
Accounts Receivable | 0 | 23.7K | 2.96K | 278.45K | 1.55M | 5.6M |
Days Sales Outstanding | - | 80.22 | 5.2 | 56.07 | 213 | 163.37 |
Inventory | 463.42K | 618.26K | 774.35K | 309.71K | 0 | 0 |
Days Inventory Outstanding | 3.98K | 196.5 | 163.35 | 59.89 | - | - |
Other Current Assets | 11.16K | 0 | 0 | 0 | 6.12M | 8.05M |
Total Non-Current Assets | 216.26K | 5.11M | 1.34M | 14.35M | 126.68M | 139.67M |
Property, Plant & Equipment | 119.62K | 4.59M | 830.86K | 13.77M | 52.38M | 61.85M |
Fixed Asset Turnover | - | 0.02x | 0.25x | 0.13x | 0.05x | 0.12x |
Goodwill | 0 | 0 | 0 | 0 | 15.53M | 28M |
Intangible Assets | 0 | 0 | 0 | 0 | 31.31M | 36.51M |
Long-Term Investments | 0 | 165.72K | 169.62K | 0 | 0 | 0 |
Other Non-Current Assets | 96.65K | 346.94K | 343.04K | 578.24K | 27.45M | 13.32M |
Total Assets | 8.66M▲ 0% | 8.54M▼ 1.3% | 2.8M▼ 67.2% | 139.6M▲ 4877.7% | 367.75M▲ 163.4% | 340.8M▲ 0% |
Asset Turnover | - | 0.01x | 0.07x | 0.01x | 0.01x | 0.02x |
Asset Growth % | - | -1.3% | -67.18% | 4877.66% | 163.43% | 1161.46% |
Total Current Liabilities | 336.31K | 3.9M | 6.24M | 6.81M | 13.3M | 19.73M |
Accounts Payable | 336.31K | 162.03K | 2.05M | 4.9M | 5.01M | 5.7M |
Days Payables Outstanding | 2.89K | 51.5 | 432.58 | 947.8 | 101.49 | 68.16 |
Short-Term Debt | 0 | 1M | 1.07M | 1.23M | 1.8M | 1.89M |
Deferred Revenue (Current) | 0 | 0 | 0 | 20.1K | 2K | 2.53M |
Other Current Liabilities | 0 | 0 | 0 | 0 | 6.48M | 9.62M |
Current Ratio | 25.10x | 0.88x | 0.23x | 18.40x | 18.13x | 10.19x |
Quick Ratio | 23.72x | 0.72x | 0.11x | 18.36x | 18.13x | 10.19x |
Cash Conversion Cycle | - | 225.22 | -264.03 | -831.84 | - | 95.21 |
Total Non-Current Liabilities | 0 | 17.1M | 600.73K | 1.11M | 3.71M | 3.28M |
Long-Term Debt | 0 | 1.21M | 230.93K | 0 | 3.45M | 2.93M |
Capital Lease Obligations | 0 | 2.57M | 211.18K | 1.11M | 0 | 7.35M |
Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 255K | 602K |
Other Non-Current Liabilities | 0 | 13.31M | 158.62K | 0 | 1K | 0 |
Total Liabilities | 336.31K | 21M | 6.84M | 7.92M | 17.01M | 23.01M |
Total Debt | 0 | 7.48M | 4.37M | 2.34M | 5.25M | 4.82M |
Net Debt | -7.97M | 4.77M | 4.37M | -120.92M | -100.98M | -42.3M |
Debt / Equity | - | - | - | 0.02x | 0.01x | 0.02x |
Debt / EBITDA | - | - | - | - | - | -0.04x |
Net Debt / EBITDA | - | - | - | - | - | 0.31x |
Interest Coverage | - | -33.35x | -8.50x | -56.26x | - | -22793.89x |
Total Equity | 8.32M▲ 0% | -12.45M▼ 249.7% | -4.03M▲ 67.6% | 131.68M▲ 3364.8% | 350.74M▲ 166.4% | 317.79M▲ 0% |
Equity Growth % | - | -249.66% | 67.61% | 3364.76% | 166.36% | 1250.84% |
Book Value per Share | 0.23 | -0.34 | -0.11 | 3.59 | 5.63 | 4.18 |
Total Shareholders' Equity | 8.32M | -12.45M | -4.03M | 131.68M | 350.74M | 317.79M |
Common Stock | 89 | 683 | 2.45K | 5.13K | 7K | 7K |
Retained Earnings | -21.67M | -43.52M | -68.33M | -107.53M | -208.89M | -257.89M |
Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
Accumulated OCI | 1 | 0 | 0 | 0 | 138K | -61K |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
SERV Cash Flow Statement
Serve Robotics Inc. (SERV) cash flow — operating, investing & free cash flow history
| Metric | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|
Cash from Operations | -10.71M | -21.4M | -15.97M | -21.54M | -80.24M | -112.2M |
Operating CF Margin % | - | -19850.66% | -7695.14% | -1188.55% | -3026.78% | - |
Operating CF Growth % | - | -99.85% | 25.38% | -34.88% | -272.48% | -1250.16% |
Net Income | -21.67M | -21.86M | -24.81M | -39.19M | -101.36M | -137.15M |
Depreciation & Amortization | 42.47K | 388.14K | 3.68M | 309.71K | 8.21M | 14M |
Stock-Based Compensation | 8.71K | 195.06K | 544.38K | 14.55M | 21.25M | 24.73M |
Deferred Taxes | 0 | 0 | 0 | 0 | -4.7M | -5.35M |
Other Non-Cash Items | 11.04M | 279.34K | 5.18M | 1.9M | -1.07M | -1.49M |
Working Capital Changes | -138.27K | -410.2K | -552.61K | 884.68K | -2.57M | -6.93M |
Change in Receivables | 0 | -23.7K | 20.74K | -275.49K | -1.2M | -3.57M |
Change in Inventory | -463.42K | -154.84K | -156.09K | 464.64K | 0 | 0 |
Change in Payables | 336.31K | -174.28K | 0 | 872.25K | -2.02M | -2.85M |
Cash from Investing | -258.73K | -4.06M | -4.91K | -10.32M | -198M | -214.31M |
Capital Expenditures | -162.09K | -3.64M | -4.91K | -10.25M | -37.33M | -35.72M |
CapEx % of Revenue | - | 3380.62% | 2.37% | 565.66% | 1408.3% | 687.69% |
Acquisitions | 0 | 0 | 0 | 0 | -7.5M | -28.95M |
Investments | - | - | - | - | - | - |
Other Investing | -96.65K | -416.01K | 0 | -65.58K | -911K | 75.18M |
Cash from Financing | 18.93M | 20.21M | 13.27M | 155.12M | 261.21M | 175.87M |
Debt Issued (Net) | 0 | 6.33M | -2.71M | 1.74M | -186K | 783.38K |
Equity Issued (Net) | 11M | 1000K | -3 | 113.45M | 261.35M | 175.13M |
Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
Share Repurchases | 0 | 0 | -3 | 0 | 0 | 0 |
Other Financing | 7.93M | 12.89M | 15.98M | 39.93M | 48K | -47.97K |
Net Change in Cash | 7.97M▲ 0% | -5.25M▼ 165.9% | -2.71M▲ 48.4% | 123.26M▲ 4650.1% | -17.03M▼ 113.8% | -150.64M▲ 0% |
Free Cash Flow | -10.87M▲ 0% | -25.05M▼ 130.4% | -15.98M▲ 36.2% | -31.79M▼ 99.0% | -117.57M▼ 269.8% | -147.92M▲ 0% |
FCF Margin % | - | -23231.28% | -7697.51% | -1754.2% | -4435.08% | -2847.63% |
FCF Growth % | - | -130.4% | 36.22% | -99.02% | -269.79% | -264.01% |
FCF per Share | -0.29 | -0.68 | -0.43 | -0.87 | -1.89 | -1.95 |
FCF Conversion (FCF/Net Income) | 0.49x | 0.98x | 0.64x | 0.55x | 0.79x | 1.08x |
Interest Paid | 0 | 622.73K | 507.19K | 202.78K | 0 | 0 |
Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 |
SERV Key Ratios
Serve Robotics Inc. (SERV) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|
Return on Equity (ROE) | - | - | -61.41% | -42.02% | -47.31% |
Return on Invested Capital (ROIC) | - | - | -517.84% | -64.93% | -56.83% |
Gross Margin | -965.14% | -733.68% | -4.15% | -580.23% | -441.13% |
Net Margin | -20270.2% | -11955.83% | -2162.29% | -3823.5% | -2640.25% |
Debt / Equity | - | - | 0.02x | 0.01x | 0.02x |
Interest Coverage | -33.35x | -8.50x | -56.26x | - | -22793.89x |
FCF Conversion | 0.98x | 0.64x | 0.55x | 0.79x | 1.08x |
Revenue Growth | - | 92.49% | 773.3% | 46.26% | 297.67% |
Related:SERV Dividend History·SERV Revenue History·SERV Price History·SERV P/E History·SERV Financial Ratios·SERV Institutional Holders
SERV SEC Filings & Documents
Serve Robotics Inc. (SERV) SEC filings — annual & quarterly reports (10-K, 10-Q)
SERV Frequently Asked Questions
Serve Robotics Inc. (SERV) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Serve Robotics Inc. (SERV) reported $5.2M in revenue for fiscal year 2025.
Serve Robotics Inc. (SERV) grew revenue by 46.3% over the past year. This is strong growth.
Serve Robotics Inc. (SERV) reported a net loss of $137.1M for fiscal year 2025.
Dividend & Returns
Serve Robotics Inc. (SERV) has a return on equity (ROE) of -42.0%. Negative ROE indicates the company is unprofitable.
Serve Robotics Inc. (SERV) had negative free cash flow of $147.9M in fiscal year 2025, likely due to heavy capital investments.