Full year revenue of $1.8 million, an increase of 773% year-over-yearContinued geographic expansion in Los Angeles, successful launch in Miami, and planning entry into Dallas and Atlanta metrosReach increased to over 1,000 restaurants, a 3x increase year-over-year, and to over 300,000 households, a 2x increase year-over-yearEnding 2024 cash of $123 million, no debt; an additional $91m raised in January 2025, bringing the total financing to $259 million since January 2024 SAN FRANCISCO, March 06, 2025 (GLOBE ...

Group 1 - The robotics market is poised to benefit significantly from advancements in artificial intelligence [1] - Recent updates regarding Serve Robotics indicate potential impacts on the company's performance [1]

Group 1: Stock Performance Overview - SoundHound AI and Serve Robotics experienced significant stock declines in February, with drops of 23.5% and 45.7% respectively, while Super Micro Computer's shares surged by 45.4% [1] - Super Micro Computer is classified as a large-cap company with a market cap of $23 billion, whereas Serve Robotics is a small-cap stock with a market cap of under $400 million [2] Group 2: Nvidia's Influence - Nvidia's recent 13F filing revealed it sold its investments in SoundHound and Serve, leading to substantial declines in their stock prices as investors interpreted this as a negative signal for both companies [3][4] - The sale of Nvidia's holdings raised concerns about the future of Serve Robotics, especially after Nvidia disclosed a new investment in Nebius Group, which has its own robotic delivery segment [5] Group 3: Super Micro Computer's Recovery - Super Micro Computer, a supplier of servers and cooling systems for Nvidia hardware, saw a recovery in its stock after filing delayed reports with a new auditor, regaining compliance with Nasdaq [6][7] - Despite the recovery, Super Micro's stock ended February about one-third off its highs for the month, indicating ongoing volatility [7] Group 4: Market Reactions and Future Expectations - The significant stock movements in February are viewed as market overreactions, which is common for these technology stocks that had previously seen gains due to Nvidia's investments [8] - Investors are advised to expect continued volatility from these stocks, as the market may react strongly to news and developments surrounding them [10]

Core Viewpoint - Serve Robotics is expected to report its fourth-quarter 2024 results on March 6, with revenue estimates at $0.27 million and a loss of 19 cents per share remaining unchanged over the past month [1][2]. Financial Performance - In the third quarter of 2024, Serve Robotics generated revenues of $0.22 million, with delivery and branding revenues contributing $0.183 million. Delivery revenues increased by 49% sequentially and 108% year-over-year [4]. - The company operated 59 daily active robots, marking a 23% sequential increase and a 97% year-over-year surge, generating an average of 465 daily supply hours, reflecting a 21% quarter-over-quarter rise and a 108% year-over-year increase [5]. Stock Performance - Since its public equity offering on April 18, 2024, Serve Robotics shares have surged by 160.9%, significantly outperforming the broader Zacks Computer and Technology sector's return of 14.6% and the Zacks IT Services industry's appreciation of 10.1% [6]. - The stock is currently trading below the 50-day and 200-day moving averages, indicating a bearish trend [10]. Strategic Partnerships and Market Position - Serve Robotics' long-term prospects are bolstered by growing demand for delivery services on partner platforms such as Uber Eats and 7-Eleven. The company has strategic investors including NVIDIA, Uber, and Delivery Hero [11]. - The expanding partner base includes notable companies like Shake Shack, Ouster, Wing Aviation, and Magna, enhancing its competitive position in the last-mile delivery market [12]. Technological Advancements - Serve Robotics' third-generation robots are designed to carry more goods and reduce delivery costs, with the potential to lower average delivery costs to under $1 [13][14]. - The new robots, powered by NVIDIA's Jetson Orin module, offer five times more on-board computing power and can travel approximately twice as far on a single charge [15]. Future Growth Plans - The company plans to deploy 2,000 robots by 2025 through its agreement with Uber, anticipating an annual revenue run rate of $60-$80 million once fully deployed [16]. - Serve Robotics aims to deploy 250 robots in Los Angeles by the end of Q1 2025 and is set to enter Dallas by the end of Q2 2025, with potential expansions into San Diego and Vancouver [17][18]. Conclusion - The expanding portfolio of robots and a strong partner base indicate solid long-term growth potential for Serve Robotics, justifying its premium valuation [19].

SAN FRANCISCO, Feb. 28, 2025 (GLOBE NEWSWIRE) -- Serve Robotics (Nasdaq: SERV), a leading autonomous sidewalk delivery company, today announced that its Chief Financial Officer Brian Read will participate in a fireside chat at the Cantor Global Technology Conference on March 11, 2025, at 3:40 pm Eastern Time. The presentation will be webcast on Serve’s investor relations website at investors.serverobotics.com. A replay of the webcast will be available for 30 days following the live presentation. If you wish ...

Core Viewpoint - Serve Robotics has experienced a significant stock decline of over 50% following Nvidia's complete divestment of its shares, raising questions about potential investment opportunities ahead of its upcoming financial report [1][2]. Company Overview - Serve Robotics has developed autonomous last-mile delivery robots, utilizing Nvidia's technology, and aims to deploy thousands of these robots in partnership with Uber Eats [2][6]. - The company has achieved over 50,000 deliveries with a 99.94% accuracy rate, demonstrating its operational efficiency compared to human delivery workers [3]. Financial Performance - Serve is projected to report approximately $1.9 million in total revenue for 2024, marking an 820% increase from 2023 [7]. - The forecast for 2025 anticipates revenue growth to $13.3 million, representing a further 598% increase, contingent on the successful deployment of 2,000 robots [8]. Operational Efficiency - Serve's latest Gen3 robot is five times more powerful than its predecessor, with operational costs reduced by up to 50% [4]. - The company aims to lower delivery costs to $1 per order, significantly cheaper than traditional delivery fees on Uber Eats, which can range from zero to $8 [5]. Market Potential - The autonomous food delivery market is projected to reach $450 billion by 2030, indicating substantial growth opportunities for Serve [6]. Financial Challenges - Serve reported a loss of $26.1 million in the first three quarters of 2024, following a $24.8 million loss in 2023, raising concerns about its financial sustainability [9]. - The company raised $80 million in January through stock issuance, which is dilutive for existing shareholders and not a sustainable long-term strategy [10]. Valuation Concerns - Serve Robotics has a market capitalization of $581 million, resulting in a price-to-sales (P/S) ratio of 213.6, significantly higher than Nvidia's P/S ratio of 28.5 [11]. - The forward P/S ratio based on 2025 revenue forecasts remains at 45.1, indicating that Serve's stock is overvalued compared to established companies like Nvidia [11][12].

Core Viewpoint - Serve Robotics Inc. is set to report its 2024 fourth quarter and full year financial results on March 6, 2025, after market close, with a conference call and webcast scheduled for the same day [1]. Group 1: Financial Reporting - The company will announce its financial results for Q4 2024 and the full year on March 6, 2025 [1]. - A conference call will be held at 2:00 p.m. PT / 5:00 p.m. ET to discuss the results [2]. Group 2: Company Overview - Serve Robotics develops AI-powered, low-emissions sidewalk delivery robots aimed at making delivery sustainable and economical [3]. - The company was spun off from Uber in 2021 and has completed tens of thousands of deliveries for partners like Uber Eats and 7-Eleven [3]. - Serve Robotics has multi-year contracts, including an agreement to deploy up to 2,000 delivery robots on the Uber Eats platform across various U.S. markets [3].

Core Insights - Serve Robotics has launched its autonomous delivery service in the Miami metro area, partnering with Shake Shack and Mister O1 to deliver orders via Uber Eats [1][2][3] - The expansion to Miami Beach and Brickell is part of Serve's strategic plan to deploy 2,000 robots across the U.S. by the end of 2025 [3][5] Company Overview - Serve Robotics is an independent company that develops AI-powered, low-emissions sidewalk delivery robots, spun off from Uber in 2021 [5] - The company has completed tens of thousands of deliveries for partners like Uber Eats and 7-Eleven, with scalable multi-year contracts in place [5] Market Expansion - Miami Beach and Brickell, with approximately 120,000 residents and active commercial districts, are seen as ideal locations for sustainable robotic delivery [2] - The Miami launch builds on Serve's successful growth in Los Angeles and its planned entry into the Dallas-Fort Worth market [2] Partnerships - Shake Shack and Mister O1 are collaborating with Serve Robotics to enhance customer experience through innovative delivery solutions [3] - Uber Eats is expanding its partnership with Serve Robotics to bring autonomous delivery to Miami, aiming to improve the delivery experience [3]

Group 1: Nvidia's Portfolio Reshuffle - Nvidia has sold its stakes in Serve Robotics and SoundHound AI, raising concerns among shareholders [1] - The decision is perceived as profit-taking after significant stock price increases, rather than fundamental issues with the companies [1][4] Group 2: SoundHound AI - SoundHound AI is a leader in voice AI technology, with applications across various industries, indicating strong versatility [3] - The company estimates its addressable market to be $140 billion in 2024, with projected revenues of $82 million to $85 million, growing to $155 million to $175 million in 2025 [5] - SoundHound has secured significant partnerships, including deals with Stellantis and various sectors like healthcare and financial services, enhancing its market potential [6] Group 3: Serve Robotics - Serve Robotics focuses on autonomous delivery solutions, addressing the last-mile delivery challenges faced by major platforms [9] - The robotic delivery market is projected to reach $450 billion by 2030, with Serve demonstrating high reliability in its operations [11] - Strategic partnerships, including a deal with Uber Eats for deploying 2,000 robots by 2025, position Serve for significant revenue growth [11][13]

Core Viewpoint - Serve Robotics (SERV) has experienced a significant stock price increase of 54.5% year to date, outperforming the broader Computer & Technology sector and IT Services industry [1] Company Overview - Serve Robotics is an AI-powered last-mile robot delivery service provider, benefiting from increasing demand for delivery services on platforms like Uber Eats and 7-Eleven [2] - The company was spun off from Uber Technologies in 2021 and has strategic investors including NVIDIA, Uber, 7-Ventures, and Delivery Hero [2] Market Position and Expansion - SERV's partner base is expanding, including notable companies like Shake Shack, Ouster, Wing Aviation, and Magna, which enhances its competitive position against major players like DoorDash and Amazon [3] - The acquisition of Vebu assets is expected to strengthen SERV's presence in the restaurant industry [3] Operational Performance - In Q3 2024, SERV operated 59 daily active robots, a 23% increase sequentially and a 97% increase year-over-year [4] - These robots generated an average of 465 daily supply hours, reflecting a 21% quarter-over-quarter rise and a 108% year-over-year increase [4] Cost Efficiency and Technology - SERV aims to reduce average delivery costs to under $1, making on-demand delivery more affordable [6] - The third-generation robots can carry more goods and reduce delivery costs further, with an expanded cargo bin capacity [7] - Enhanced technology, including NVIDIA's Jetson Orin module and Ouster's REV7 digital lidar, allows SERV robots to operate more efficiently [8] Future Plans and Financial Outlook - SERV plans to deploy 2,000 robots by 2025, anticipating an annual revenue run rate of $60-$80 million once fully operational [9] - The company expects to deploy 250 robots in Los Angeles by Q1 2025 and is considering expansion into Dallas, San Diego, and Vancouver [10] Financial Health - SERV's liquidity position is strong, with $50.9 million in cash and cash equivalents as of September 30, 2024 [12] - The company raised a total of $167 million in gross proceeds in 2024, with approximately $220 million secured since its spinout from Uber [13] Stock Performance and Investment Sentiment - SERV stock is currently trading above its 50-day and 200-day moving averages, indicating a bullish technical outlook [14] - Despite a Value Score of F suggesting a premium valuation, the expanding robotics fleet is seen as a positive for long-term investors [16]