Serve Robotics Inc. (SERV) came out with a quarterly loss of $0.36 per share versus the Zacks Consensus Estimate of a loss of $0.23. This compares to a loss of $0.27 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -56.52%. A quarter ago, it was expected that this company would post a loss of $0.21 per share when it actually produced a loss of $0.16, delivering a surprise of +23.81%.Over the last four quarters, the company has ...

Serve Robotics (SERV) Q2 2025 Earnings Call August 07, 2025 05:00 PM ET Speaker0Thank you for standing by, and welcome to Serve Robotics' Second Quarter twenty twenty five Earnings Conference Call. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your host, Vice President of Communications and Investor Relations, Aduque Selwell. Please go ahead.Speaker1Thank you, operator, and good afternoon, everyone. Welcome to Serv Robotics' second quarter twent ...

Financial Performance - Serve Robotics reported quarterly losses of 24 cents per share, missing the Street estimate of 21 cents [1] - Quarterly revenue was $642,000, exceeding the consensus estimate of $624,800 [1] Company Strategy and Operations - The CEO, Dr. Ali Kashani, emphasized the company's vision for autonomous last-mile transportation and noted significant progress in expanding into new markets and scaling operations [2] - The company is focused on enhancing its autonomy capabilities, stating that each successful delivery improves the efficiency of its growing fleet [2] Future Outlook - Serve Robotics reiterated its guidance for an annualized revenue run-rate of $60 million to $80 million once its fleet of 2,000 robots is fully deployed and reaches target utilization [3] - The company anticipates third-quarter revenue to be between $600,000 and $700,000 [3] Stock Performance - Serve Robotics stock was down 4.72% at $10.09 in extended trading following the earnings report [3]

Core Insights - Serve Robotics Inc. reported significant growth in its autonomous sidewalk delivery operations, with plans to expand its fleet and market reach, projecting annualized revenues of $60 million to $80 million by 2026 [2][5]. Business Highlights - The company successfully launched its services in the Atlanta market and plans to enter Chicago soon [6][7]. - Delivery volume increased by nearly 80% quarter over quarter, with over 120 new third-generation robots delivered ahead of schedule [6][7]. - Serve has established a partnership with Little Caesars, enhancing its position as a preferred delivery partner for major merchants [7]. Financial Highlights - For Q2 2025, Serve reported revenue of $642 thousand, a 46% increase compared to Q1 2025 [6][7]. - The company maintained a strong liquidity position with $183 million as of June 30, 2025 [6][7]. - The fleet revenue, which includes delivery and branding revenue, grew by $117 thousand, representing a 55% increase quarter over quarter [7]. Outlook - The company reiterated its guidance for projected annualized revenue run-rate of $60 million to $80 million once its 2,000-robot fleet is fully deployed [5]. - For Q3 2025, Serve anticipates revenue growth between 170% and 215% year over year, projecting revenue of $600 to $700 thousand [14].

[Executive Summary & Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Highlights) Serve Robotics reported strong Q2 2025 progress, with revenue up 46% to $642 thousand and fleet expansion - Management emphasized disciplined execution, positioning the company for confident scaling. The plan is to quadruple the robot fleet again in the second half of 2025, aiming for a **2,000-robot fleet** in 2026[3](index=3&type=chunk) Metric | Metric | Q2 2025 Result | | :--- | :--- | | Revenue | $642 thousand | | Revenue Growth (QoQ) | 46% | | Delivery Volume Growth (QoQ) | ~80% | | Liquidity Position (as of June 30) | $183 million | - Key business developments include: - Launched operations in Atlanta and announced an upcoming launch in Chicago - Expanded footprint in Los Angeles and Miami - Completed the first Middle East pilot in Doha - Began a national partnership with Little Caesars after the quarter ended[7](index=7&type=chunk)[8](index=8&type=chunk) [Outlook](index=1&type=section&id=Outlook) Serve Robotics reiterated long-term revenue guidance of $60-80 million by 2026 and projects strong Q3 2025 revenue - Reiterated guidance for a projected annualized revenue run-rate of **$60 to $80 million** once the **2,000-robot fleet** is fully deployed and utilized, anticipated to occur during 2026[6](index=6&type=chunk) - For Q3 2025, the company projects revenue between **$600,000 and $700,000**, representing year-over-year growth of **170% to 215%**[15](index=15&type=chunk) - Fleet deployment is expected to accelerate in the second half of the year, with the robot fleet anticipated to **more than double in Q3**[15](index=15&type=chunk) [Financial Statements](index=3&type=section&id=Financial%20Statements) [Key Operational Metrics & Revenue Disaggregation](index=3&type=section&id=Key%20Operational%20Metrics%20%26%20Revenue%20Disaggregation) Operational metrics showed significant growth, with Daily Active Robots increasing to 160 and Q2 2025 revenue at $642 thousand Key Operational Metrics | Metric | Q2 2025 | Q1 2025 | Q2 2024 | | :--- | :--- | :--- | :--- | | Daily Active Robots | 160 | 73 | 48 | | Daily Supply Hours | 1,723 | 648 | 385 | Disaggregation of Revenue (in thousands) | Revenue Source | Q2 2025 | Q1 2025 | Q2 2024 | | :--- | :--- | :--- | :--- | | Software services | $312 | $229 | $296 | | Fleet services | $330 | $211 | $172 | | **Total Revenue** | **$642** | **$440** | **$468** | [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2025, total assets increased to $214.3 million, reflecting strong liquidity and equity Balance Sheet Summary (in thousands) | Account | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | **Total Current Assets** | **$186,530** | **$125,252** | | Cash and cash equivalents | $116,700 | $123,266 | | Short-term investments | $66,631 | $- | | **Total Assets** | **$214,315** | **$139,601** | | **Total Liabilities** | **$7,109** | **$7,920** | | **Total Stockholders' Equity** | **$207,206** | **$131,681** | - The company maintained a strong liquidity position of **$183 million** as of June 30, 2025, which is expected to provide a financial runway through the end of 2026[8](index=8&type=chunk) [Condensed Consolidated Statement of Operations](index=7&type=section&id=Condensed%20Consolidated%20Statement%20of%20Operations) For Q2 2025, Serve reported $642 thousand revenue and a $(20.9) million net loss, driven by increased operating expenses Statement of Operations Summary (in thousands, except per share data) | Metric | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Revenues | $642 | $468 | | Gross Profit (Loss) | $(2,859) | $142 | | Total Operating Expenses | $19,785 | $8,698 | | Loss from Operations | $(22,644) | $(8,556) | | Net Loss | $(20,850) | $(9,038) | | Net Loss Per Share | $(0.36) | $(0.27) | - The widening net loss was primarily driven by a substantial increase in operating expenses, particularly in General & Administrative and Research & Development, reflecting the company's investment in growth and scaling[27](index=27&type=chunk) [Condensed Consolidated Statement of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statement%20of%20Cash%20Flows) Net cash used in H1 2025 operations was $(25.4) million, offset by $100.8 million from financing, ending with $116.7 million cash Cash Flow Summary - Six Months Ended June 30 (in thousands) | Cash Flow Activity | 2025 | 2024 | | :--- | :--- | :--- | | Net Cash Used in Operating Activities | $(25,426) | $(9,819) | | Net Cash Used in Investing Activities | $(81,934) | $(798) | | Net Cash Provided by Financing Activities | $100,795 | $39,392 | | **Net Change in Cash** | **$(6,566)** | **$28,775** | - Financing activities were robust, with **$75.8 million** from common stock issuance and **$13.5 million** from an equity distribution agreement, highlighting successful capital raising efforts[29](index=29&type=chunk) [Non-GAAP Financial Measures](index=10&type=section&id=Non-GAAP%20Financial%20Measures) [Reconciliation to Adjusted EBITDA](index=10&type=section&id=Reconciliation%20to%20Adjusted%20EBITDA) Adjusted EBITDA for Q2 2025 was a loss of $(14.9) million, adjusted from GAAP net loss for non-cash and non-recurring items Adjusted EBITDA Reconciliation - Q2 2025 (in thousands) | Line Item | Amount | | :--- | :--- | | Net loss on GAAP basis | $(20,850) | | Adjustments: | | | Interest income | $(1,794) | | Transaction costs | $239 | | Finance lease purchase option | $2,246 | | Depreciation & amortization | $817 | | Stock-based compensation | $4,398 | | **Adjusted EBITDA** | **$(14,944)** | [Reconciliation of GAAP to Non-GAAP Measures](index=11&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Measures) Non-GAAP measures show Q2 2025 net loss at $(14.0) million, compared to GAAP net loss of $(20.9) million GAAP vs. Non-GAAP Net Loss & EPS - Q2 2025 (in thousands, except per share) | Metric | GAAP | Non-GAAP | | :--- | :--- | :--- | | Net Loss | $(20,850) | $(13,967) | | Net Loss Per Share | $(0.36) | $(0.24) | - The primary adjustments between GAAP and Non-GAAP net loss for Q2 2025 were stock-based compensation **($4.4 million)**, a finance lease purchase option **($2.2 million)**, and transaction costs **($0.2 million)**[32](index=32&type=chunk) [Company Information & Disclaimers](index=3&type=section&id=Company%20Information%20%26%20Disclaimers) This section provides corporate background, investor call details, and legal disclaimers for Serve Robotics - Serve Robotics was spun off from Uber in 2021 and has a multi-year contract to deploy **up to 2,000 delivery robots** on the Uber Eats platform across multiple U.S. markets[11](index=11&type=chunk) - The company hosted a conference call and webcast on August 7, 2025, to discuss the financial results[9](index=9&type=chunk) - The report contains forward-looking statements regarding future revenue, robot deployment, and market expansion, which are subject to risks and uncertainties detailed in SEC filings[17](index=17&type=chunk)[18](index=18&type=chunk)

Core Insights - Serve Robotics (SERV) is expected to report its second-quarter 2025 results on August 7, with previous earnings exceeding the Zacks Consensus Estimate by 23.8% [1] Financial Estimates - The Zacks Consensus Estimate for SERV's second-quarter 2025 loss per share is 23 cents, compared to an adjusted loss of 27 cents in the same quarter last year, with the consensus remaining unchanged over the past 30 days [2] - Revenue estimates for the quarter are projected at $0.64 million, reflecting a 35.1% increase from the previous year's figure [2] Growth Drivers - The anticipated revenue growth is attributed to the rapid expansion of SERV's robot fleet and geographic reach, with over 250 Gen 3 robots added in Q1 2025 and a planned launch in Atlanta [3] - Delivery volumes are expected to increase by 60% to 75% quarter over quarter due to the expansion into high-density areas and new partnerships with merchants like Shake Shack [3] - SERV is also unlocking new revenue opportunities through its software platform, aiming to generate recurring revenues from external partners in sectors such as automotive and logistics [4] Profitability Challenges - Despite the growth in revenue, SERV's aggressive expansion strategy is likely to continue impacting profitability negatively, with high costs associated with research and development, market launches, and operational infrastructure [5] - The increasing share of early-stage fleet revenues, which typically have lower margins than software services, adds further pressure on the overall margin profile [5] Earnings Outlook - According to the Zacks model, SERV currently has an Earnings ESP of 0.00% and a Zacks Rank of 3, indicating that the odds of an earnings beat are not favorable at this time [6]

Core Insights - Serve Robotics and Little Caesars have partnered to deliver pizzas using autonomous delivery robots in Los Angeles via Uber Eats [1][2][4] - Serve's third-generation robots can carry up to four large 16-inch pizzas along with additional items while maintaining food quality [3] - The partnership aims to enhance customer delivery experience and align with Little Caesars' commitment to innovation and sustainability [4] Company Overview - Little Caesars is the third-largest pizza chain globally, founded in 1959, with a presence in all 50 U.S. states and 30 countries [5][7] - The brand is known for its HOT-N-READY® pizza and innovative services like the Pizza Portal® pickup [6] - Little Caesars emphasizes quality ingredients and aims to reduce its environmental footprint through technology [4][6] Industry Context - The partnership with Serve Robotics is part of a broader trend in the $150 billion global pizza industry towards automation and enhanced delivery solutions [7][9] - Serve Robotics, spun off from Uber in 2021, focuses on sustainable and economical delivery solutions, having completed tens of thousands of deliveries [9]

SAN FRANCISCO, July 30, 2025 (GLOBE NEWSWIRE) -- Serve Robotics Inc. ("Serve") (Nasdaq: SERV), a leading autonomous sidewalk delivery company, today announced that it will report its 2025 second quarter financial results on Thursday, August 7, 2025 after market close. The company will host a conference call and webcast to review the results on the same day. About Serve Robotics Serve Robotics develops advanced, AI-powered, low-emissions sidewalk delivery robots that endeavor to make delivery sustainable and ...

Key Takeaways SERV guides for 60-75% Q2 delivery growth after expanding to cities like Miami, Dallas, and Los Angeles.Serve now serves over 1,500 restaurants and plans to deploy 2,000 robots by year-end 2025.Q1 revenue rose 150% to $440K, but losses persist and competition from Uber and DoorDash looms.Serve Robotics (SERV) is betting big on growth. Following a first quarter marked by rapid fleet expansion and entry into new markets, the autonomous delivery startup has guided for a 60% to 75% quarter-over-qu ...

This little robot maker might have a brighter future than the conservative media company. That dizzying gain was driven by its association with President Donald Trump, who frequently praised the network while mocking Fox News; its decision to offer just 6% of its shares in its IPO; and the same meme stock dynamics that temporarily lifted many other Trump-related stocks. Why does Serve Robotics have a brighter future than Newsmax? Serve Robotics was spun off from Uber Technologies in 2021. Its newest Gen 3 d ...