Serve Robotics Inc. (SERV) Income Statement
SERV 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsSERV revenue and net income
Where SERV's revenue goes
2025Each bar shows an amount and its share of revenue. SERV kept −3,823.5% of revenue as net income.
SERV profit margins
SERV growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +46.3% | +190.8% | — | — |
| Gross profit | — | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
SERV quarterly EPS vs estimates
Serve Robotics beat the analyst EPS estimate in 2 of the last 8 quarters. Next report: November 11, 2026 (estimate $-0.76).
SERV income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Revenue | $2.7M | $1.8M | $207,545 | $107,819 | $0 |
| Cost of revenue | $18.0M | $1.9M | $1.7M | $1.1M | $42,469 |
| Gross profit | −$15.4M | −$75,156 | −$1.5M | −$1.0M | −$42,469 |
| Research & development | $45.3M | $24.3M | $9.9M | $13.6M | $7.1M |
| Sales, general & admin | $40.0M | $10.6M | $5.2M | $4.3M | $2.6M |
| Total operating expenses | $97.4M | $38.2M | $19.2M | $19.9M | $10.6M |
| Operating income | −$112.8M | −$38.3M | −$20.7M | −$21.0M | −$10.6M |
| Interest income | $7.3M | $1.3M | — | — | — |
| Interest expense | $3,000 | $680,548 | $2.3M | $636,330 | $0 |
| Income before taxes | −$105.0M | −$39.2M | −$24.8M | −$21.9M | −$21.7M |
| Income taxes | −$3.7M | — | $2.3M | $636,330 | −$194,089 |
| Net income | −$101.4M | −$39.2M | −$24.8M | −$21.9M | −$21.7M |
| EBITDA | −$96.8M | −$38.2M | −$17.4M | −$20.8M | −$21.6M |
| EPS (diluted) | −$1.26 | −$1.01 | −$0.67 | −$0.59 | −$4.33 |
| Gross margin | −580.2% | −4.1% | −733.7% | −965.1% | — |
| Operating margin | −4,253.8% | −2,112.5% | −9,987.0% | −19,433.5% | — |
| Net margin | −3,823.5% | −2,162.3% | −11,955.8% | −20,270.2% | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.2M | $3.0M | $882,000 | $686,535 | $642,000 | $440,465 | $175,842 | $221,555 | $468,375 | $946,711 | $42,719 | $62,565 |
| Cost of revenue | $12.0M | $12.0M | $7.6M | $5.1M | $3.5M | $1.9M | $831,884 | $377,304 | $326,013 | $352,438 | $399,097 | $572,537 |
| Gross profit | −$8.8M | −$9.0M | −$6.7M | −$4.4M | −$2.9M | −$1.5M | −$656,042 | −$155,749 | $142,362 | $594,273 | −$356,378 | −$509,972 |
| Research & development | $20.3M | $19.0M | $15.9M | $13.4M | $9.1M | $6.9M | $6.8M | $5.0M | $5.8M | $6.6M | $2.8M | $3.0M |
| Sales, general & admin | $29.1M | $16.8M | $12.5M | $14.0M | $8.5M | $5.0M | $5.3M | $2.4M | $2.0M | $1.1M | $1.6M | $1.5M |
| Total operating expenses | $57.3M | $42.8M | $33.6M | $30.4M | $19.8M | $13.5M | $12.9M | $8.3M | $8.7M | $8.3M | $6.5M | $5.1M |
| Operating income | −$66.1M | −$51.8M | −$40.3M | −$34.8M | −$22.6M | −$15.0M | −$13.6M | −$8.4M | −$8.6M | −$7.7M | −$6.8M | −$5.6M |
| Interest income | $1.9M | $2.1M | $2.0M | $1.7M | $1.8M | $1.8M | — | $483,000 | $296,000 | $9,994 | — | — |
| Interest expense | $0 | $0 | $0 | $6,403 | $0 | $3,403 | — | $34,000 | $260,120 | $1.3M | $242,430 | $1.5M |
| Income before taxes | −$64.2M | −$49.7M | −$37.9M | −$33.0M | −$20.9M | −$13.2M | −$13.1M | −$8.0M | −$9.0M | −$9.0M | −$7.1M | −$7.6M |
| Income taxes | −$36,000 | −$648,000 | −$3.7M | — | — | — | — | — | $3 | −$25,353 | −$1.8M | $1.5M |
| Net income | −$64.1M | −$49.0M | −$34.3M | −$33.0M | −$20.9M | −$13.2M | −$13.1M | −$8.0M | −$9.0M | −$9.0M | −$7.1M | −$7.6M |
| EBITDA | −$57.6M | −$43.4M | −$33.1M | −$30.9M | −$20.0M | −$12.7M | −$12.8M | −$8.0M | −$8.8M | −$7.7M | −$4.9M | −$5.7M |
| EPS (diluted) | −$0.80 | −$0.50 | −$0.34 | −$0.40 | −$0.36 | −$0.16 | −$0.23 | −$0.14 | −$0.27 | −$0.37 | — | — |
| Gross margin | −271.1% | −301.6% | −756.8% | −637.9% | −445.3% | −333.4% | −373.1% | −70.3% | 30.4% | 62.8% | −834.2% | −815.1% |
| Operating margin | −2,040.3% | −1,735.3% | −4,569.4% | −5,071.6% | −3,527.1% | −3,406.6% | −7,721.0% | −3,811.7% | −1,826.7% | −814.6% | −15,967.0% | −8,915.2% |
| Net margin | −1,980.5% | −1,642.2% | −3,885.8% | −4,809.9% | −3,247.7% | −3,000.5% | −7,461.0% | −3,609.1% | −1,929.5% | −954.7% | −16,534.5% | −12,220.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in SERV's financial statements (latest annual report filed March 12, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
SERV financial results
In fiscal year 2025 (ended December 31, 2025), Serve Robotics reported revenue of $2.7 million, up 46.3% from the year before. It had a net loss of $101.4 million, a net profit margin of −3,823.5%. Diluted earnings per share came to −$1.26.
See the SERV stock overview for the latest quote and news, or the SERV chart for price history and technical indicators.
SERV income statement FAQ
What is Serve Robotics's annual revenue?
Serve Robotics reported total revenue of $2.7 million for fiscal year 2025, which ended on December 31, 2025. That was up 46.3% from $1.8 million the previous year.
Is Serve Robotics profitable?
No. Serve Robotics reported a net loss of $101.4 million in fiscal 2025, a net profit margin of −3,823.5%; its operating margin was −4,253.8%.
What is Serve Robotics's gross margin?
Serve Robotics's gross margin was −580.2% in fiscal 2025: for every $100 of revenue, Serve Robotics kept $-580 after the direct cost of its products and services.
How much does Serve Robotics spend on research and development?
Serve Robotics spent $45.3 million on research and development in fiscal 2025, 1,707.5% of revenue.
What are Serve Robotics's earnings per share?
Serve Robotics earned $-1.26 per diluted share in fiscal 2025, compared with $-1.01 a year earlier.
When will Serve Robotics report its next earnings?
Serve Robotics is expected to report results for the quarter ending September 30, 2026 on November 11, 2026 after the market closes.
When does Serve Robotics's fiscal year end?
Serve Robotics's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 12, 2026.