Serve Robotics Inc.

Serve Robotics Inc. Earnings Recaps

SERV Industrials 2 recaps
Q1 2026 May 9, 2026

Serve Robotics’ shares fell 3.5% after the company tempered near-term growth expectations, signaling investor concerns about a deceleration in Q2 expansion despite healthy Q1 progress. The cautious outlook on robot fleet deployment and emphasis on operational efficiency over fleet growth weighed on sentiment.

Key takeaways
  • Q1 revenue reached nearly $3 million, up approximately 7x year-over-year and 3.5x sequentially, driven primarily by a tenfold increase in fleet revenue to nearly $2 million.
  • About one-third of Q1 revenue came from software services, with recurring revenue now accounting for just under half of total revenue.
  • The deployed fleet size and daily active robots increased 7x and 10x year-over-year respectively, with daily supply hours up 13x, highlighting improved utilization.
  • The company disclosed no plans to add sidewalk robots in Q2, focusing instead on operational efficiency, geographic expansion, and platform integrations in preparation for expected growth in the second half of the year.
  • Diligent Robotics, acquired in Q1, is performing in line with plans, contributing to a combined footprint spanning 44 cities across 14 states and nearly 2 million completed deliveries.
Full recap
Q3 2025 Nov 13, 2025

Serve Robotics achieved substantial growth in Q3 2025, deploying over 1,000 autonomous delivery robots and significantly expanding its market reach, highlighted by a 66% increase in delivery volume.

Key takeaways
  • Delivery reliability approached 100%, reflecting operational excellence as volume soared.
  • Expanded restaurant partnerships to over 3,600, a 45% quarterly increase and a ninefold rise year-over-year.
  • Fleet size grew tenfold and market coverage expanded to five operational hubs, reaching over 3 million people.
  • Strategic partnerships with DoorDash and Uber enhance delivery capacity and efficiency, optimizing robot utilization.
  • New market expansions set for Buckhead, Fort Lauderdale, and Alexandria by year-end, further solidifying national presence.
Full recap