SERV (SERV) financial statements
SERV reported revenue of $3M in fiscal 2025, up 190.8% a year over 3 years.
Net income was -$101M.
Free cash flow was -$118M.
The diluted share count rose 1146% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from SERV's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | — | $107,819 | $207,545 | $2M | $3M |
| Cost of revenue | — | $1M | $2M | $2M | $18M |
| Gross profit | — | -$1M | -$2M | -$75,000 | -$15M |
| Research and development | — | $14M | $10M | $24M | $45M |
| Selling, general and admin | $54,627 | $4M | $5M | $11M | $40M |
| Operating income | -$54,627 | -$21M | -$21M | -$38M | -$113M |
| Interest expense | — | $636,330 | $2M | $2M | $3,000 |
| Pre-tax income | — | — | — | -$39M | -$105M |
| Income tax | — | — | $0 | $0 | -$4M |
| Net income | -$54,627 | -$22M | -$25M | -$39M | -$101M |
| EPS (diluted) | -$0.01 | -$3.17 | -$1.75 | -$1.07 | -$1.63 |
| Diluted shares | 5M | 7M | 14M | 37M | 62M |
| Gross margin | — | -965.1% | -733.7% | -4.1% | -580.2% |
| Operating margin | — | -19433.5% | -9987.0% | -2111.9% | -4253.8% |
| Net margin | — | -20270.2% | -11955.8% | -2161.7% | -3823.5% |
Balance sheet
Fiscal years, from SERV's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash and short-term investments | $271 | $3M | $6,756 | $123M | $233M |
| Receivables | — | $23,697 | $2,955 | $87,000 | $851,000 |
| Inventory | — | $618,262 | $774,349 | $310,000 | $0 |
| Total current assets | $271 | $3M | $1M | $125M | $241M |
| Property, plant and equipment | — | $3M | $48,422 | $12M | $47M |
| Goodwill | — | — | — | $0 | $16M |
| Total assets | $271 | $9M | $3M | $140M | $368M |
| Total current liabilities | $72,460 | $4M | $6M | $7M | $13M |
| Total liabilities | $72,460 | $21M | $7M | $8M | $17M |
| Shareholders' equity | $8M | -$12M | -$4M | $132M | $351M |
| Net debt | -$271 | -$3M | -$6,756 | -$123M | -$106M |
Cash flow
Fiscal years, from SERV's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating cash flow | -$51,627 | -$21M | -$16M | -$22M | -$80M |
| Capital spending | — | $4M | $4,914 | $10M | $38M |
| Free cash flow | — | -$25M | -$16M | -$32M | -$118M |
| Stock-based compensation | — | $195,056 | $544,375 | $15M | $21M |
| Net borrowing | — | -$378,524 | -$2M | — | — |
| Free cash flow margin | — | -23231.3% | -7697.5% | -1753.7% | -4450.4% |
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Open SERV in InvestinglyQuestions
What was SERV's revenue in 2025?
$3M in fiscal 2025, from its 10-K filing.
How much free cash flow does SERV generate?
-$118M in fiscal 2025 (operating cash flow minus capital spending).
From SERV's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.