Short answer
Serve Robotics Inc. /DE/ (SERV) filed its Q3 2025 10-Q quarterly report on Nov 14, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $687,000 (up 210.1% year over year) with net income of −$33M.
Q3 2025 key financials · XBRL
- Revenue
- $687,000
- +210.1% YoY · +7.1% QoQ
- Net income
- −$33M
- −312.9% YoY · −58.4% QoQ
- Operating margin
- -5067.8%
- EPS (diluted)
- −$0.55
- −243.8% YoY · −48.6% QoQ
Source: XBRL data from the Serve Robotics Inc. /DE/ (SERV) Q3 2025 10-Q on SEC EDGAR. USD.
Serve Robotics Inc. /DE/ Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $0.69M, up 209% YoY from $0.22M, driven by fleet services revenue of $0.43M
- Gross margin -637.2% vs -70.3% YoY, with cost of revenue $5.07M
- Fleet services best-performing line, up $0.25M YoY to $0.43M; software services up $0.22M to $0.25M
- Cash and marketable securities $210.45M, including $116.84M cash and $93.61M securities
- Outlook: liquidity sufficient for at least 12 months; headwinds include demand uncertainty, customer concentration, supply constraints, and regulation
Risk Factors
- No Risk Factors section provided; supplied text covers Items 2–6 only
- Vayu merger issuance: 1,410,469 common shares and 4,000,000 warrants at $10.36 exercise price
- Dilution risk: Vayu warrants exercisable August 15, 2029 through August 15, 2031
- Insider selling risk: CFO and director plans cover up to 60,000 and 20,000 shares, respectively
- Compliance disclosure: Rule 10b5-1 sales prohibited before December 24 and December 30, 2025
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
Other Serve Robotics Inc. /DE/ quarterly reports
Ask about this quarter
Compare quarters, check guidance or see what insiders and funds did around the report.