Q2 25 EPS
$-0.24
MISS 41.18%
Est. $-0.17
Q2 25 Revenue
$642,000
BEAT +2.74%
Est. $624,850
vs S&P Since Q2 25
-55.9%
TRAILING MARKET
SERV -40.8% vs S&P +15.1%
Market Reaction
Did SERV Beat Earnings? Q2 2025 Results
Serve Robotics delivered a mixed second quarter for 2025, posting revenue of $642,000, up 37.1% year-over-year and edging ahead of the $624.85 thousand consensus, but its non-GAAP loss of $0.24 per share fell well short of the $0.17 estimate, missing… Read more Serve Robotics delivered a mixed second quarter for 2025, posting revenue of $642,000, up 37.1% year-over-year and edging ahead of the $624.85 thousand consensus, but its non-GAAP loss of $0.24 per share fell well short of the $0.17 estimate, missing by 41.18% as aggressive fleet expansion drove costs sharply higher. The primary culprit was a rapid scaling of daily active robots from 73 to 160, which pushed cost of revenues to $3.50 million and widened the gross loss to $2.86 million, while total operating expenses reached $19.79 million, including one-time charges tied to a finance lease purchase option. For investors already weighing the company's risk profile, the widening losses reinforce the early-stage economics at play. Still, management pointed to momentum, guiding Q3 revenue to $600,000 to $700,000 and reiterating a long-term annualized run-rate target of $60 million to $80 million once its 2,000-robot fleet reaches full utilization in 2026, with $183 million in liquidity providing runway through year-end 2026.
Key Takeaways
- • Delivery volume increased over 78% sequentially from Q1 2025
- • Daily active robots grew from 73 in Q1 to 160 in Q2 2025
- • Daily supply hours increased over 340% compared to Q2 2024 to 1,723 hours
- • Over 120 new third-generation robots delivered ahead of schedule in Q2
- • Fleet Revenues grew $117 thousand, representing 55% increase quarter over quarter
SERV YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
SERV Revenue by Segment
With YoY comparisons, source: SEC Filings
“Serve is building the world ahead, where autonomous last mile transportation is ubiquitous and foundational. This quarter marked a major step forward as we expanded into new markets, scaled operations, and fueled our autonomy flywheel to an unprecedented degree. With every successful delivery, Serve's growing fleet gets smarter, stronger, and more efficient.”
— Ali Kashani, Q2 2025 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
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| 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% |