Serve Robotics Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-80.21	-39.19	-24.81	-21.86	-21.67
Depreciation & Amortization	2.73	0.31	1.86	0.39	0.04
Other Amortization	0.93	1.68	1.81	0.01	-
Asset Writedown & Restructuring Costs	-	-	1.47	-	-
Stock-Based Compensation	19.54	14.55	0.54	0.2	0.01
Other Operating Activities	-0	0.22	1.82	0.27	11.04
Change in Accounts Receivable	-0.79	-0.08	0.02	-0.02	-
Change in Inventory	0.02	0.46	-0.16	-0.15	-0.46
Change in Accounts Payable	2.8	0.87	1.89	-0.17	0.34
Change in Unearned Revenue	-0.01	0.02	-	-	-
Change in Other Net Operating Assets	-1.32	-0.39	-0.42	-0.06	-0.01
Operating Cash Flow	-56.86	-21.54	-15.97	-21.4	-10.71
Capital Expenditures	-25.69	-10.25	-0	-3.64	-0.16
Other Investing Activities	-0.18	-0.07	-	-0.42	-0.1
Investing Cash Flow	-127.07	-10.32	-0	-4.06	-0.26
Short-Term Debt Issued	-	4.84	3.32	-	-
Long-Term Debt Issued	-	-	0.75	6.96	-
Total Debt Issued	-0	4.84	4.07	6.96	-
Short-Term Debt Repaid	-	-0.07	-0.45	-	-
Long-Term Debt Repaid	-	-3.03	-3.46	-0.63	-
Total Debt Repaid	-0.65	-3.1	-3.91	-0.63	-
Net Debt Issued (Repaid)	-0.65	1.74	0.15	6.33	-
Issuance of Common Stock	254.55	157.53	15.4	12.89	7.93
Repurchase of Common Stock	-	-	-0	-	-
Other Financing Activities	-4.1	-4.15	-2.29	-	-
Financing Cash Flow	249.8	155.12	13.27	20.21	18.93
Miscellaneous Cash Flow Adjustments	-	-	-	-	0
Net Cash Flow	65.93	123.26	-2.71	-5.25	7.97
Free Cash Flow	-82.55	-31.79	-15.98	-25.05	-10.87
Free Cash Flow Margin	-4245.48%	-1754.20%	-7697.51%	-23231.28%	-
Free Cash Flow Per Share	-1.49	-0.87	-1.13	-3.63	-1.55
Cash Interest Paid	0.25	0.2	0.51	0.62	-
Levered Free Cash Flow	-53.73	-15.33	-7.86	-16.93	-
Unlevered Free Cash Flow	-53.73	-16.58	-8.26	-16.54	-
Change in Working Capital	0.69	0.88	1.34	-0.41	-0.14

Updated Nov 12, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q