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Serve Robotics | 10-Q: Q2 2024 Earnings Report

Serve Robotics | 10-Q: Q2 2024 Earnings Report

Serve Robotics | 10-Q:2024财年二季报
美股SEC公告 ·  08/14 04:35

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Serve Robotics reported Q2 2024 financial results, with revenue soaring 655% YoY to $468,375. The company's net loss widened to $9,037,367 from $4,966,256 in Q2 2023. The revenue growth was primarily driven by $300,000 from a new software services contract with Magna, alongside increases in delivery and branding revenues.Research and development expenses, comprising 67% of total operating expenses, jumped 172% YoY to $5.79 million. This increase was largely due to $2.10 million in stock compensation related to the Magna Warrant, as well as higher headcount and software costs. General and administrative expenses rose 93% to $1.87 million, reflecting additional public company costs.Serve Robotics completed a public offering in April 2024, raising net proceeds of approximately $35.8 million. The company also entered into a strategic partnership with Magna, issuing a warrant for up to 2,145,000 shares. Despite the revenue growth, Serve anticipates continued operating losses in 2024 and 2025 as it implements its long-term strategic plan to scale its robotic fleet and expand into new markets.
Serve Robotics reported Q2 2024 financial results, with revenue soaring 655% YoY to $468,375. The company's net loss widened to $9,037,367 from $4,966,256 in Q2 2023. The revenue growth was primarily driven by $300,000 from a new software services contract with Magna, alongside increases in delivery and branding revenues.Research and development expenses, comprising 67% of total operating expenses, jumped 172% YoY to $5.79 million. This increase was largely due to $2.10 million in stock compensation related to the Magna Warrant, as well as higher headcount and software costs. General and administrative expenses rose 93% to $1.87 million, reflecting additional public company costs.Serve Robotics completed a public offering in April 2024, raising net proceeds of approximately $35.8 million. The company also entered into a strategic partnership with Magna, issuing a warrant for up to 2,145,000 shares. Despite the revenue growth, Serve anticipates continued operating losses in 2024 and 2025 as it implements its long-term strategic plan to scale its robotic fleet and expand into new markets.
Serve Robotics报告了2024年第二季度的财务结果,营业收入同比激增655%,达到了$468,375。公司净亏损从2023年第二季度的$4,966,256扩大至$9,037,367。营业收入的增长主要得益于与Magna签订的新软件服务合同所带来的$300,000收入,以及交付和品牌收入的增加。研发费用占总营业费用的67%,同比激增172%至$579万。这一增加主要是由于与Magna认购权相关的$210万股票补偿,以及更高的人力成本和软件费用。一般及行政费用上升93%,达到$187万,反映出额外的上市公司成本。Serve Robotics于2024年4月完成了一次公开募股,筹集了大约$3580万的净收益。公司还与Magna建立了战略合作伙伴关系,发行了最多可购买2,145,000股的认购权。尽管营业收入增长,Serve预计在2024年和2025年将继续出现营业亏损,因为它将在实施其长期战略计划,以扩大其机器人车队并拓展到新市场。
Serve Robotics报告了2024年第二季度的财务结果,营业收入同比激增655%,达到了$468,375。公司净亏损从2023年第二季度的$4,966,256扩大至$9,037,367。营业收入的增长主要得益于与Magna签订的新软件服务合同所带来的$300,000收入,以及交付和品牌收入的增加。研发费用占总营业费用的67%,同比激增172%至$579万。这一增加主要是由于与Magna认购权相关的$210万股票补偿,以及更高的人力成本和软件费用。一般及行政费用上升93%,达到$187万,反映出额外的上市公司成本。Serve Robotics于2024年4月完成了一次公开募股,筹集了大约$3580万的净收益。公司还与Magna建立了战略合作伙伴关系,发行了最多可购买2,145,000股的认购权。尽管营业收入增长,Serve预计在2024年和2025年将继续出现营业亏损,因为它将在实施其长期战略计划,以扩大其机器人车队并拓展到新市场。
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