Serve robotics chief sells $1,767 in stock

In a recent transaction, Abraham Euan, the Chief Hardware & Manufacturing Officer of Serve Robotics Inc. (NASDAQ:SERV), sold 308 shares of the company's common stock. The shares were sold at a price of $5.7402 each, amounting to a total transaction value of $1,767. After the transaction, Euan holds 149,170 shares in the company. The sale was conducted to satisfy tax withholding obligations related to the acquisition of shares through the settlement of vested restricted stock units (RSUs). According to InvestingPro analysis, SERV maintains a strong balance sheet with more cash than debt and a healthy current ratio of 18.4x. The stock is currently trading near its InvestingPro Fair Value, with 12 additional exclusive insights available to subscribers.

In other recent news, Serve Robotics Inc. reported its Q4 2024 earnings, revealing a larger-than-expected loss with an earnings per share (EPS) of -$0.23 and revenue of $170,000, both missing analyst forecasts. The company demonstrated a significant 700% year-over-year growth in annual revenue, reaching $1.8 million, with software services contributing $1.2 million. Despite these gains, Serve Robotics reported a GAAP net loss of $39.2 million for 2024, up from $24.9 million in 2023. The company has outlined plans to deploy 2,000 robots by the end of 2025, with a focus on cost reduction and operational efficiency. In a strategic move, Serve Robotics expanded its delivery service to the Dallas-Fort Worth metro area, in collaboration with Uber (NYSE:UBER) Eats, aiming to reach over 22,000 new households. This expansion follows recent launches in Los Angeles and Miami, with further U.S. markets anticipated throughout 2025. Additionally, Serve Robotics has signed agreements to deploy up to 2,000 robots on the Uber Eats platform across multiple U.S. markets.

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