Serve Robotics
SERV on Nasdaq. Serve Robotics sells robot delivery services to restaurants and food delivery companies. Market value $423m.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
We can't read total debt from the filing, so debt is left out.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
Nothing stands out yet.
See Industrials stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $-41.05 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: 40 of 100. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.
$4.77 a share, 14% above its 1-year low
Over the past year the price has ranged from $4.17 to $18.64.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
Spare cash swings from quarter to quarter here: a shortfall of $170 million in the past 12 months, a shortfall of $118 million in the year to December 2025.
| Revenue | |||||
| Revenue | n/a | $107,819 | $207,545 | $2m | $3m |
| Operating margin | |||||
| Operating margin | n/a | -19433.5% | -9987.0% | -2111.9% | -4253.8% |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.01bn | 0.02bn | 0.04bn | 0.07bn | 0.09bn |
Health checks
- Free cash flow positive0 of 4 years
- Accounting checksSkipped: company is not yet profitable
- DebtUnknown
- Revenue growth, five yearsStrong, 190.7% a year
- Buying back its own sharesNo, 1634% more shares since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $3 million last quarter, up 404% on a year ago.
- A loss of $64 million, compared with a loss of $21 million a year ago.
- It loses 2477 cents on each $1 of sales, compared with 4032 cents a year earlier.
- Over the past 12 months it spent $170 million more cash than it brought in, compared with $57 million a year earlier.
- 40% more shares than a year ago. Each share owns a bit less of the company.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $222,000 |
| December 2024 | $176,000 |
| March 2025 | $440,000 |
| June 2025 | $642,000 |
| September 2025 | $687,000 |
| December 2025 | $882,000 |
| March 2026 | $3m |
| June 2026 | $3m |
| Quarter to | Amount |
|---|---|
| September 2024 | -$8m |
| December 2024 | -$13m |
| March 2025 | -$13m |
| June 2025 | -$21m |
| September 2025 | -$33m |
| December 2025 | -$34m |
| March 2026 | -$49m |
| June 2026 | -$64m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 12 March 2026
- Next quarterly (estimated, 10-Q)
- 5 November 2026
Who owns it
None of the long-term investors we follow own it. 195 funds in all.
Largest holders overall
- BlackRock$40mAdded
- Vanguard Capital Management$19mAdded
- State Street$16mAdded
- Geode Capital Management$12mAdded
- Susquehanna International Group, LLP$10mAdded
- Exchange Traded Concepts$10mCut
- Legal & General Group$8mAdded
- First Trust Advisors LP$8mAdded
- Morgan Stanley$6mAdded
- Mirae Asset Global Etfs Holdings$5m
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
4 investors own more than 5%.
- BlackRock, Inc.Passive investor7.7%+1.8 ptsSince 30 June 2026
- VK Services, LLCPassive investorat least 7.5%(filed with 7 related holders)Since 15 August 2025
- Davidson Kempner Capital Management LPPassive investorat least 3.6%(filed with 3 related holders)Since 1 June 2026
- G1 Execution Services, LLCPassive investorat least 2.8%−3.1 pts(filed with 1 related holder)Since 31 December 2025
- Sold down below 5%Since 19 September 2025
- NVIDIA CorporationPassive investorSold down below 5%Since 31 December 2024
| Holder | Stake | Since | |
|---|---|---|---|
BlackRock, Inc. Passive investor | 7.7%+1.8 pts | 30 June 2026 | |
VK Services, LLC Passive investor | at least 7.5% (filed with 7 related holders) | 15 August 2025 | |
Davidson Kempner Capital Management LP Passive investor | at least 3.6% (filed with 3 related holders) | 1 June 2026 | |
G1 Execution Services, LLC Passive investor | at least 2.8%−3.1 pts (filed with 1 related holder) | 31 December 2025 | |
Sold down below 5% | 19 September 2025 | ||
NVIDIA Corporation Passive investor | Sold down below 5% | 31 December 2024 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 7 sold $5m, $909,845 of it under preset trading plans.
- Read BrianChief Financial OfficerSold
- Date
- 19 August 2026
- Shares
- 9,700
- Price
- $4.80
- Value
- $46,560
- Read BrianChief Financial OfficerSold
- Date
- 18 August 2026
- Shares
- 6,129
- Price
- $4.56
- Value
- $27,948
- Kashani AliChief Executive Officer, DirectorSold
- Date
- 18 August 2026
- Shares
- 45,158
- Price
- $4.56
- Value
- $205,920
- Parang TourajPresident & COO, DirectorSold
- Date
- 18 August 2026
- Shares
- 37,993
- Price
- $4.55
- Value
- $172,703
- Read BrianChief Financial OfficerSold
- Date
- 17 August 2026
- Shares
- 25,240
- Price
- $5.24
- Value
- $132,258
- Goldberg David MichaelDirectorSoldunder a preset trading plan
- Date
- 16 June 2026
- Shares
- 10,600
- Price
- $7.20
- Value
- $76,320
- Read BrianChief Financial OfficerSold
- Date
- 10 June 2026
- Shares
- 1,496
- Price
- $7.24
- Value
- $10,831
- Kashani AliChief Executive Officer, DirectorSold
- Date
- 10 June 2026
- Shares
- 15,885
- Price
- $7.24
- Value
- $115,007
- Parang TourajPresident & COO, DirectorSold
- Date
- 10 June 2026
- Shares
- 4,219
- Price
- $7.24
- Value
- $30,546
- Read BrianChief Financial OfficerSold
- Date
- 7 May 2026
- Shares
- 201
- Price
- $9.26
- Value
- $1,861
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 19 August 2026 | Read Brian Chief Financial Officer | Sold | 9,700 | $4.80 | $46,560 |
| 18 August 2026 | Read Brian Chief Financial Officer | Sold | 6,129 | $4.56 | $27,948 |
| 18 August 2026 | Kashani Ali Chief Executive Officer, Director | Sold | 45,158 | $4.56 | $205,920 |
| 18 August 2026 | Parang Touraj President & COO, Director | Sold | 37,993 | $4.55 | $172,703 |
| 17 August 2026 | Read Brian Chief Financial Officer | Sold | 25,240 | $5.24 | $132,258 |
| 16 June 2026 | Goldberg David Michael Director | Sold under a preset trading plan | 10,600 | $7.20 | $76,320 |
| 10 June 2026 | Read Brian Chief Financial Officer | Sold | 1,496 | $7.24 | $10,831 |
| 10 June 2026 | Kashani Ali Chief Executive Officer, Director | Sold | 15,885 | $7.24 | $115,007 |
| 10 June 2026 | Parang Touraj President & COO, Director | Sold | 4,219 | $7.24 | $30,546 |
| 7 May 2026 | Read Brian Chief Financial Officer | Sold | 201 | $9.26 | $1,861 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.