Company Analysis

Serve Robotics Inc. (SERV)

Nasdaq: SERV · General Industrial Machinery & Equipment, NEC · Redwood City, CA · filing with the SEC since 2021
Grade4.7
◀ Past 5.0● Present 3.8▶ Future 5.7
2 est.

The grade of Serve Robotics Inc.

Nine metrics read from its own filings, by tense
Headline grade
4.7/10
◀ Past5.030% of the headline
● Present3.840% of the headline
▶ Future5.730% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 7 read as filed from the record and 2 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

5.0/1030% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed
4.3/10

Has it survived what it has been through?

7 warning events since 2021; the latest 2025-03-06.

weight 33% of this tense · 43rd percentile among 15 sector filers · read for itself

From the record

Serve Robotics Inc.'s filings since 2021 show 7 warning events of 2 kinds: an auditor change (8-K item 4.01, 4 times, the latest 2025-03-06); a late-report notice (Form NT 10-K or NT 10-Q, 3 times, the latest 2023-11-15) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
7.0/10

What has it actually done, year after year?

+257.1% a year over 3 filed years; profitable in 0 of 3.

weight 45% of this tense · 71st percentile among 14 sector filers · read for its customers

From the record

Serve Robotics Inc.'s 3 filed years say what it did: revenue went from $208 thousand in fiscal 2023 to $3 million in fiscal 2025, up 257.1% a year; it rose in 2 of 2 years; it never fell from a peak; net income was positive in 0 of 3 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span257.1%top 4% of its family
  • the share of years revenue rosetop 18% of its family
  • the share of filed years with a profitbottom 21% of its family
  • the deepest fall from a revenue peak0.0%top 18% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate
1.8/10

How has it treated the people who own it?

SI estimate 1.8/10, confidence 35 of 100 (one part).

weight 22% of this tense · 18th percentile among 15 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, the share count over the years, which ranks in the bottom 18% of 15 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read
Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned
one part: the share count over the years, the one part on file, ranked among 15 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Serve Robotics Inc.'s shareholder treatment is put at 1.8 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 18% of 15 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

3.8/1040% of the headline grade · 3 of 3 filed

Financial health

as filed
4.1/10

Is it financially healthy right now?

ROE -29%: lost 29¢ per shareholder dollar. Leverage 5%: owes 5¢ per asset dollar.

weight 45% of this tense · 41st percentile among 15 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Serve Robotics Inc. lost about 29 cents for every dollar of shareholders' money, and gross profitability: its products earned less than nothing, about minus 4 cents per dollar of everything the company owns. Leverage: it owed about 5 cents per dollar of assets, and net share issuance: its share count grew 69.9% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetstop 3% of its family
  • return on equitybottom 23% of its family
  • gross profit against assetsbottom 11% of its family
  • the share count against the year beforebottom 35% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
3.5/10

How strong is its position in its industry?

bottom 35% of 15 in its family; net margin -3823.5%.

weight 33% of this tense · 35th percentile among 15 sector filers · read for its customers

From the record

Serve Robotics Inc.'s standing among 15 graded names in its industry family: revenue of $3 million in fiscal 2025 ranks in the bottom 4% by size; a net margin of -3823.5% ranks in the bottom 3%; revenue growth of 257.1% a year over the last 2 filed years ranks in the top 3% (its annual reports).

What it rests on

  • revenue against the family$2.7Mbottom 4% of its family
  • net margin-3823.5%bottom 3% of its family
  • three-year revenue growth257.1%top 3% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed
3.5/10

What are the people in charge doing?

bottom 35% of 7 in its family for leadership; chief executive since 2023.

weight 22% of this tense · 35th percentile among 7 sector filers · read for its shareholders

From the record

Serve Robotics Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Kashani, Ali (Chief Executive Officer, as filed), filing under that title since the record of its people begins (2023-07-31), so the years before are not on the record and this part is not read; the 10 officers and directors filing in the last fifteen months have been on the record a median of 2.4 years (bottom 10%); 4 officer or director changes were reported on Form 8-K since 2023-11-13, against the 10 people in charge now (top 40%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

  • officer and director changes on Form 8-K, against the people in charge4 in three years among 10 peopletop 40% of its family
  • the median years the people in charge have filed2.4 yearsbottom 10% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

5.7/1030% of the headline grade · 2 of 3 filed, 1 estimated

Room to expand

as filed
4.7/10

How much room does it have to grow?

bottom 47% of 15 in its family for room to expand.

weight 45% of this tense · 47th percentile among 15 sector filers · read for itself

From the record

Serve Robotics Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $106 million against no long-term debt tagged leaves 28.9% of its assets as net cash, top 17% of its family; cash from operations less capital spending is -4435.1% of revenue (bottom 3%); a gross margin of -580.2% (bottom 4%); research spending of 1707.5% of revenue (top 4%) (its annual report).

What it rests on

  • cash less debt against assets28.9%top 17% of its family
  • cash from operations less capital spending against revenue-4435.1%bottom 3% of its family
  • gross margin-580.2%bottom 4% of its family
  • research spending against revenue1707.5%top 4% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
8.0/10

What could actually drive growth from here?

top 20% of 14 in its family for growth drivers.

weight 33% of this tense · 80th percentile among 14 sector filers · read for its customers

From the record

Serve Robotics Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 257.1% a year over the last three filed years against 257.1% over all 3, speeding up (top 25% of its family); the newest year grew 46.3% (top 25%); research spending grew 49.4% a year (top 12%); capital spending grew 117.1% a year (top 19%) (its annual reports). Serve Robotics Inc. reported 2 product lines in fiscal 2025: Fleet Services at $2 million (61%), Software Services at $1 million (39%); 1 of 2 grew against the year before (its annual report).

What it rests on

  • three-year growth against the whole span+0.0 points a yeartop 25% of its family
  • the newest year's revenue growth46.3%top 25% of its family
  • three-year growth of research spending49.4%top 12% of its family
  • three-year growth of capital spending117.1%top 19% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

SI estimate
4.4/10

Did its newest year beat what its own record pointed to?

SI estimate 4.4/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 12 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
The record does not carry four filed years of revenue and two of the three parts: revenue against the prior pace, earnings against the prior average, the margin change, so the desk assumes the typical reading of its industry family, the median of 12 members with one.
What the record cannot read
The record does not carry four filed years of revenue and two of the three parts: revenue against the prior pace, earnings against the prior average, the margin change.
How it was reasoned
family median, 12 readings behind it.
Confidence
20 of 100
What would change it
Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Serve Robotics Inc.'s expectations vs reality is put at 4.4 of 10 with a confidence of 20 of 100, because the record does not carry four filed years of revenue and two of the three parts: revenue against the prior pace, earnings against the prior average, the margin change, so the desk assumes the typical reading of its industry family, the median of 12 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton SERV · research, not advice