secwatch.observer — SEC 8-K summary
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Issuer:     Serve Robotics Inc. /DE/ (SERV)
CIK:        0001832483
Form:       8-K
Filed at:   2024-08-13T23:59:59+00:00
Accession:  0001832483-24-000014
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Serve Robotics Q2 revenue $0.47M; daily supply hours up 106% YoY; cash $28.8M
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- Q2 revenue $0.47M, including $0.30M software service revenue from Magna; no material software revenue expected in Q3.
- Daily supply hours averaged 385 (+106% YoY, +28% QoQ); daily active robots up 85% YoY.
- Cash and equivalents $28.8M at June 30; post-quarter $15M private placement closed July 2024.
- Manufacturing commenced on 2,000-robot fleet with Magna and Ouster; third-gen robot design completed.
- Targeting at least 250 additional robots in LA by Q1 2025; full fleet run-rate revenue estimated at $60-80M annually.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1832483/000183248324000014/0001832483-24-000014-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1832483/000183248324000014/serv-20240813.htm
  HTML page:      https://secwatch.observer/filing/0001832483-24-000014

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