Shares dropped 10.2% as investors reacted negatively to a sharp full-year revenue guidance cut driven by decelerating delivery volume growth and unresolved operating model issues with Uber, undermining confidence in near-term scaling potential.
- Q2 revenue was $3.2 million, up 9% sequentially and over 400% year-over-year, but below levels needed to support prior guidance.
- Full-year 2026 revenue guidance slashed from $26 million to $9–10 million, reflecting removal of previously anticipated delivery volume ramp.
- Delivery volume decline primarily due to misaligned operating model and integration issues with Uber, with the partnership likely ending in early 2027.
- Offsetting the Uber weakness, delivery volume with another partner grew nearly 50% sequentially, highlighting uneven segment performance.
- Advertising and hospital robotics businesses remain steady, with advertising composing nearly half of robotic food delivery revenues and continued contract momentum in hospital robotics.
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