Serve Robotics Inc.
- Market Cap (Float-Adj) (Float-adjusted market cap computed by the low-float screener — matches the screener row. May differ from the standard cap (price × all shares outstanding) reported elsewhere.)
- $283.0M
- Price
- $3.22
- % Change (Daily % change from the live per-ticker quote feed.)
- +38.79%
- Volume
- 9.7M
About
Serve Robotics Inc. specializes in the development, deployment, and operation of autonomous, environmentally conscious robots. These advanced robotic systems are designed to provide efficient food delivery services to people in public spaces, exclusively within the United States. The company, which builds its own self-navigating delivery units, was established in 2017. Its headquarters are situated in Redwood City, California. Notably, the entity operated under the name Patricia Acquisition Corp. until July 2023, when it officially rebranded as Serve Robotics Inc.
Quick stats
Shares outstanding87.9M
Computed float81.4M
Float / shares92.6%
Cash runway (months)13.1
Key info
SectorIndustrials
IndustryIndustrial - Machinery
CIK (Central Index Key — the unique ID the SEC assigns to every filer. Use it to look up the company's filings on EDGAR.)0001832483
AI Summary
AI-generated1/50
standardbearishperiodic report
SERV: 10-Q · periodic report
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.
2026 was acquisition-heavy: Diligent Robotics ($25.7M), Vebu ($3.7M), following Vayu Robotics ($39.5M) in 2025, driving goodwill to $29.7 million. The filing also references material weaknesses in internal control over financial reporting, a red flag for a smaller reporting company scaling via M&A.
Red flags
- Net loss more than doubled YoY to $59.2M in Q3; nine-month net loss $172.4M vs $67.1M
- Gross loss of $7.6M in Q3 — cost of revenues (~$10.4M) far exceeds revenue ($2.8M)
- $123.5M operating cash burn in nine months against $198.0M total liquidity (~1.5 years runway before further raises)
- Heavy reliance on dilutive ATM equity sales; $77.6M raised in 2026, more planned with $72.4M remaining capacity
- Material weaknesses in internal control over financial reporting disclosed
- 16.6M potentially dilutive shares on top of 87.9M shares outstanding
- Revenue concentration: Customer A at 10% of Q3 revenue; acquired Diligent contributed $4.6M revenue but $22.0M of losses