Serve Robotics Q3 2026: Revenue Triples, Guidance Raised to $12 Million

Serve Robotics reported Q3 2026 revenue of $2.835 million, missing nothing and instead topping the $1.65 million consensus estimate while rising 313% from the same period a year earlier. The adjusted loss per share came in at $0.51, better than the $0.65 analysts had expected.

Daily active robots reached 917, up from 312 a year ago, with the expansion now including an indoor hospital fleet folded in through the early-2026 Diligent Robotics acquisition. Fleet margin improved by more than 100 percentage points sequentially, though the company still reported a gross loss.

Management raised full-year 2026 revenue guidance to $12 million from a prior range of $9 million to $10 million, while cutting full-year non-GAAP operating expense guidance to $150 million from the $160 million to $170 million range set at the start of the year. CEO Ali Kashani also announced the launch of Serve Physical AI Services, which makes the company's autonomy stack, data, and deployment tools available to other robot makers, opening what he called a significant new revenue opportunity.

The quarter also answers, at least partially, a question that had hung over the stock: whether Serve could sustain growth through the transition away from its Uber Eats partnership. Revenue nearly doubled the sub-$2 million threshold some observers had anticipated, and recurring revenue reached 69% of the total. Branding revenue grew nearly 80% sequentially, and the company launched its first international market in Australia in October 2026.

On the balance sheet, cash and equivalents stood at $50.765 million, down 56.55% year over year. Operating losses remain substantial, so the pace of cash consumption and continued gross losses are the key variables to track as management pursues its longer-term targets of subscription-based software contracts and international expansion.