Serve Robotics Inc. /DE/
For the period ended Sep 30, 2026. Filed Nov 5, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 5, 2026
SERV$3.11-8.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
(In thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities: | ||
| Net loss | $(172,361) | $(67,088) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock-based compensation | 34,574 | 14,919 |
| Depreciation | 10,511 | 2,413 |
| Amortization | 8,765 | 974 |
| Deferred income taxes | (1,462) | — |
| Accretion of discount on available-for-sale securities | (1,381) | (548) |
| Changes in operating assets and liabilities, net of effects of businesses acquired: | ||
| Accounts receivable, net | (445) | (718) |
| Prepaid expenses | 1,356 | (6,229) |
| Other receivables | (755) | (496) |
| Other current assets | 39 | (133) |
| Accounts payable | (3,490) | 3,479 |
| Accrued liabilities | 3,080 | 2,688 |
| Deferred revenue | (10) | (17) |
| Operating lease liabilities | (1,952) | 155 |
| Net cash used in operating activities | (123,531) | (50,601) |
| Cash flows from investing activities: | ||
| Proceeds from maturities and sales of marketable securities | 157,000 | 14,200 |
| Purchases of marketable securities | (149,679) | (107,485) |
| Acquisitions, net of cash acquired | (21,447) | (7,504) |
| Purchases of property and equipment | (7,723) | (20,831) |
| Proceeds from tariff refunds | 4,547 | — |
| Security deposits | (107) | (119) |
| Capitalized software implementation costs | — | (405) |
| Net cash used in investing activities | (17,409) | (122,144) |
| Cash flows from financing activities: | ||
| Proceeds from issuance of common stock pursuant to at-the-market public offerings, net of offering costs | 84,922 | 78,767 |
| Proceeds from exercise of options | 545 | 405 |
| Proceeds from issuance of common stock in registered direct offering, net of offering costs | — | 75,847 |
| Proceeds from exercise of warrants | — | 11,381 |
| Repayments of financing lease liability | — | (186) |
| Proceeds from short-swing profit disgorgement | — | 48 |
| Net cash provided by financing activities | 85,467 | 166,262 |
| Effect of exchange rate changes on cash and cash equivalents | (1) | 56 |
| Net change in cash and cash equivalents | (55,474) | (6,427) |
| Cash and cash equivalents at beginning of period | 106,239 | 123,266 |
| Cash and cash equivalents at end of period | $50,765 | $116,839 |
| Supplemental disclosure of cash flow information: | ||
|---|---|---|
| Cash paid for interest | $411 | $93 |
| Cash paid for income taxes | $81 | $— |
| Supplemental disclosure of non-cash investing and financing activities: | ||
| Non-cash consideration for acquisitions | $6,984 | $37,636 |
| Operating lease right-of-use assets obtained for lease obligations | $8,389 | $3,045 |
| Purchases of property and equipment, accrued but not paid | $955 | $1,339 |
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