Q2 26 EPS Adjusted
$-0.59
BEAT +0.00%
Est. $-0.59
Q2 26 Revenue
$3.2M
MISS 17.42%
Est. $3.9M
Market Reaction
Did SERV Beat Earnings? Q2 2026 Results
Serve Robotics delivered a mixed second quarter, matching Wall Street's loss estimate but falling well short on revenue as softer-than-expected delivery volumes weighed on results. The autonomous delivery company posted a non-GAAP loss of $0.59 per s… Read more Serve Robotics delivered a mixed second quarter, matching Wall Street's loss estimate but falling well short on revenue as softer-than-expected delivery volumes weighed on results. The autonomous delivery company posted a non-GAAP loss of $0.59 per share, in line with the consensus, while revenue of $3.24 million trailed the $3.92 million estimate by 17.42%, despite representing 404.4% growth over the year-ago period. The shortfall traced directly to underwhelming volume through the company's Uber Eats partnership, a headwind significant enough to prompt management to slash full-year revenue guidance to $9.00 million to $10.00 million from prior expectations near $26 million. On a more encouraging note, recurring revenue exceeded half of total revenues for the period and the DoorDash partnership grew nearly 50% sequentially, pointing to some meaningful diversification. To offset the top-line reset, Serve also trimmed FY2026 non-GAAP operating expense guidance to $140 million to $150 million, signaling a tighter focus on deploying its fleet of over 2,000 robots toward the highest-return opportunities.
Key Takeaways
- • 404% year-over-year revenue growth driven by fleet scaling to 2,000+ robots
- • DoorDash partnership revenue grew nearly 50% sequentially
- • Advertising revenue reached nearly 50% of food delivery revenue
- • Recurring revenue exceeded 50% of total revenues, improving gross margin mix
- • 7 multiyear healthcare contract extensions and 2 new hospitals added in H1 2026
SERV Forward Guidance & Outlook
Serve revised its FY2026 revenue guidance downward to $9–$10 million (from prior expectations), reflecting lower-than-expected delivery volume through its Uber Eats partnership, including a decline in Q2 results and removal of projected Uber demand in H2 2026. FY2026 non-GAAP operating expenses were lowered to $140–$150 million from $160–$170 million previously. FY2026 capex is guided at $15–$17 million. GAAP operating expenses are projected at $193–$208 million, with $45–$50 million in stock-based compensation and $8 million in intangible asset amortization.
SERV YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
SERV Revenue by Segment
With YoY comparisons, source: SEC Filings
“Serve is driving innovation in last-mile delivery as our scaled robot fleet is powering deliveries across multiple verticals. Our leadership in autonomy and commercial deployment has created advantages that compound with scale, enabling unique partnerships, more diversified revenue streams, and new monetization opportunities, all while maintaining a disciplined approach to growth.”
— Ali Kashani, Q2 2026 Earnings Press Release
SERV Earnings Trends
SERV vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
SERV EPS Trend
Earnings per share: estimate vs actual
SERV Revenue Trend
Quarterly revenue: estimate vs actual
SERV Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $-0.59 | $-0.59 | +0.00% | $3.2M | -17.42% |
| Q1 26 BEAT | $-0.51 | $-0.50 | +1.32% | $3.0M | -1.53% |
| Q4 25 BEAT FY | $-0.44 | $-0.34 | +22.14% | $882,000 | +15.22% |
| FY Full Year | $-1.29 | $-1.17 | +9.53% | $2.7M | +5.79% |
| Q3 25 MISS | $-0.26 | $-0.54 | -107.69% | $687,000 | -0.60% |
| Q2 25 MISS | $-0.17 | $-0.24 | -41.18% | $642,000 | +2.74% |
| Q1 25 MISS | $-0.15 | $-0.16 | -6.67% | $440,465 | -9.52% |