Companies /Industrials

Serve Robotics Inc. Common Stock

NASDAQ: SERV Integrated Freight & Logistics
$5.02
â–² $0.14 (+2.77%) today
Markets open · 2:53pm ET

Q4 2025 Earnings

Reported Mar 11, 2026, 7:03am ET · SEC source
$-0.34
Beat +22.14%
EPS · est. $-0.44
$882,000
Beat +15.22%
Revenue · est. $765,460
−21.7%
Trailing market
SERV vs S&P since report
3 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−5%0+5%Mar 11Mar 12report 7:03am ETearnings−1.4%−5.6%
−5%0+5%Mar 11Mar 12earnings−1.4%−5.6%
SERV −5.6%S&P 500 −1.4%
−5%0+5%Mar 11Mar 12report 7:03am ETearnings−1.4%−5.6%
−5%0+5%Mar 11Mar 12earnings−1.4%−5.6%
SERV −5.6%NASDAQ −1.4%
−12%−6%0+6%Mar 10Mar 19report 7:03am ETearnings−2.9%−14.0%
−12%−6%0+6%Mar 10Mar 19earnings−2.9%−14.0%
SERV −14.0%S&P 500 −2.9%
−12%−6%0+6%Mar 10Mar 19report 7:03am ETearnings−2.8%−14.0%
−12%−6%0+6%Mar 10Mar 19earnings−2.8%−14.0%
SERV −14.0%NASDAQ −2.8%
+10.13%
Day of report
−9.81%
Next session
−11.46%
One week
−20.28%
30 days

S&P 500 over the same 30 days: +1.44%.

Did SERV Beat Earnings? Q4 2025 Results

Serve Robotics posted a revenue beat in Q4 2025 but deepened its losses as the autonomous delivery company accelerated its push toward scale, reporting quarterly revenue of $882,000, up 401.6% year over year and ahead of the $736.96 thousand consensus by nearly 19.68%. The company lost $0.34 per share against a breakeven consensus estimate, with the GAAP net loss widening to $34.27 million from $13.12 million a year earlier, reflecting heavy spending on fleet expansion, R&D, and four strategic acquisitions completed during the year. The single most consequential driver of the quarter's growth was the 20x expansion of Serve's robot fleet to 2,000 units across 20 cities, paired with a merchant partner base that grew from roughly 400 to over 4,500. Despite the widening losses, the company entered 2026 with $260 million in cash and a dramatically raised revenue outlook of approximately $26 million for the year, roughly 10x its 2025 total, fueled by delivery scaling and newly acquired hospital robotics revenue from Diligent Robotics.

Key Takeaways
  • Fleet expansion from ~100 to 2,000 robots during 2025
  • Q4 fleet revenue grew 50% quarter-over-quarter
  • Merchant base expansion to over 4,500 partners, a 10x increase year-over-year
  • Multi-platform integration with Uber Eats and DoorDash covering 80% of U.S. food delivery market
  • Underlying recurring revenues grew over 4x during the year
  • Daily active robots increased from 57 in Q4 2024 to 547 in Q4 2025
  • Daily supply hours grew from 455 in Q4 2024 to 6,676 in Q4 2025

“What our team accomplished last year is extraordinary. We went from operating in a single city to running the largest autonomous sidewalk fleet in the country, and we did it while delivering near-perfect reliability and surpassing our financial targets.”

Serve Robotics CEO, on the earnings call

Forward Guidance & Outlook

Serve raised its 2026 revenue guidance to approximately $26 million, representing roughly 10x growth over FY2025 revenue of $2.7 million, driven by continued delivery growth and the addition of Diligent Robotics. The company expects 2026 capital expenditures of approximately $25 million. Projected 2026 GAAP operating expenses are $190-$205 million, with non-GAAP operating expenses of $160-$170 million (excluding $30-$35 million in stock-based compensation). The company plans to optimize fleet utilization, expand geographies, and invest to grow both the Serve and Moxi robot fleets.

SERV YoY Financials

Q4 2025 vs Q4 2024 · SEC filings Q4 2024 Q4 2025
$0$300,000$600,000$900,000$175,841$882,000Revenue
$0$300,000$600,000$900,000Revenue

SERV Revenue by Segment

Fleet services$648,000
Software services$234,000

Figures from SEC filings and company reports. Not investment advice.