Serve Robotics Inc. /DE/ (SERV) Form 10-Q — Nov 5, 2026
Serve Robotics reported Q3 2026 revenue of $2.835 million, up roughly 312% from $687 thousand a year earlier, driven by fleet services. However, the net loss widened to $59.2 million from $33.0 million, and the nine-month net loss reached $172.4 million versus $67.1 million in the prior-year period. The company had $198.0 million in liquidity at September 30, 2026 ($50.8 million cash plus $147.2 million short-term marketable securities) after burning $123.5 million in operating cash during the nine months. Management says liquidity funds at least twelve months, but continued heavy reliance on ATM equity sales ($77.6 million gross raised in 2026) signals ongoing dilution risk.
Key figures
- Revenue
- 2835000
- Revenue Yoy
- +312% Q3 YoY ($2.835M vs $0.687M)
- Total Assets
- 331501000
- Cash Position
- 50765000
- Shares Outstanding
- 87884752
- Stock comp 9m
- 34574000
- Liquidity total
- $198.0 million
- Q3 revenue 2025
- 687000
- Goodwill sept 30 2026
- 29732000
- Atm remaining capacity
- $72.4 million
- Nine month revenue 2025
- 1769000
- Nine month revenue 2026
- 9057000
- Nine month net loss 2025
- 67088000
- Nine month net loss 2026
- 172361000
- Customer a q3 revenue share
- 10%
- Potentially dilutive shares
- 16613907
- Vebu acquisition consideration
- 3677000
- Atm gross proceeds 2026 program
- $77.6 million (8,540,900 shares at $9.08 weighted-average price)
- Short term marketable securities
- 147234000
- Diligent acquisition consideration
- 25707000
- Net cash used in operating activities 9m
- 123531000
AI analysis
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