Financial Performance - Revenue for Q3 2025 was $687 thousand, a 209% increase compared to Q3 2024, with fleet revenues increasing 31% sequentially to $433 thousand[5]. - Revenues for the three months ended September 30, 2025, were $687,000, an increase from $222,000 in the same period of 2024, representing a 209% year-over-year growth[28]. - Gross profit for the nine months ended September 30, 2025, was a loss of $8,707,000 compared to a profit of $581,000 in the same period of 2024[28]. - Total operating expenses for the nine months ended September 30, 2025, were $63,760,000, up from $25,293,000 in the same period of 2024, indicating a 152% increase[28]. - Net loss for the nine months ended September 30, 2025, was $67,088,000, compared to a net loss of $26,071,000 for the same period in 2024, reflecting a 157% increase in losses[29]. - Cash flows from operating activities resulted in a net cash used of $50,601,000 for the nine months ended September 30, 2025, compared to $15,279,000 in the same period of 2024[29]. - Cash flows from investing activities showed a net cash used of $122,144,000 for the nine months ended September 30, 2025, compared to $5,395,000 in the same period of 2024[30]. - Net cash provided by financing activities was $166,262,000 for the nine months ended September 30, 2025, compared to $71,580,000 in the same period of 2024[30]. - Adjusted EBITDA for the nine months ended September 30, 2025, was a loss of $50,547,000, compared to a loss of $14,961,000 in the same period of 2024[31]. - Non-GAAP net loss for the nine months ended September 30, 2025, was $47,706,000, compared to a non-GAAP net loss of $16,141,000 in the same period of 2024[32]. - The weighted average common shares outstanding for the nine months ended September 30, 2025, were 58,472,679, compared to 33,267,589 in the same period of 2024[32]. Operational Highlights - Delivery volume grew by 66% quarter over quarter and 300% year over year from Q3 2024[6]. - The number of daily active robots increased to 312, up from 160 in Q2 2025, and daily supply hours rose to 3,781, a 713% increase compared to Q3 2024[13][14]. - Serve Robotics expects to deploy its 2,000th robot ahead of schedule in mid-December 2025[16]. - Serve launched a new multi-year strategic partnership with DoorDash to expand delivery services across the U.S.[6]. - The company has expanded its geographical coverage with the launch of the Chicago market, now serving over 3,600 restaurants across the U.S.[6]. - Serve completed strategic acquisitions of Vayu and Phantom Auto to enhance its robotics platform and reduce operational costs[7]. Financial Outlook - The company anticipates generating over $2.5 million in revenue for FY2025 and projects a 10x revenue growth in 2026 based on preliminary projections[16]. - The company ended the quarter with a strong liquidity position of $210 million and raised an additional $100 million in a registered direct offering[6]. - The company maintains a strong balance sheet with total assets of $299.5 million as of September 30, 2025[26].

Core Insights - Serve Robotics Inc. is on track to deploy 2,000 autonomous delivery robots by the end of 2025, aiming for a tenfold revenue increase in 2026 [2][5][12] - The company reported a revenue of $687 thousand for Q3 2025, representing a 209% increase compared to Q3 2024 [5][23] - Serve has established a strong liquidity position with $210 million in cash and raised an additional $100 million through a direct share offering [5][6] Business Highlights - Delivery volume grew by 66% quarter-over-quarter and 300% year-over-year [5][6] - A new multi-year strategic partnership with DoorDash was launched to enhance delivery capabilities across the U.S. [5][6] - The company expanded its market presence by launching operations in Chicago, serving over 3,600 restaurants and a population of 3 million [5][6] Financial Highlights - The company ended Q3 2025 with a liquidity position of $210 million and completed a $100 million equity offering in October 2025 [5][6] - Fleet revenues increased by 31% sequentially to $433 thousand, with branding revenues up by 120% [5][6] - The net loss for Q3 2025 was $33.02 million, compared to a net loss of $20.85 million in Q2 2025 [23][25] Outlook - Guidance for FY2025 anticipates revenue exceeding $2.5 million [4] - Preliminary projections suggest a tenfold revenue growth in 2026 [5][12] - The company expects to deploy its 2,000th robot ahead of schedule in mid-December 2025 [12]

Core Insights - Serve Robotics Inc. is set to release its Q3 2025 results on November 12, 2025, with expectations of solid operational momentum and fleet expansion despite profitability constraints due to capital investments in scaling and AI integration [1] Financial Performance - In Q2 2025, Serve Robotics reported a 46% sequential revenue increase to $642,000, driven by record delivery volume and fleet utilization, with nearly 80% quarter-over-quarter growth in delivery volume [2] - The company experienced a GAAP net loss of $20.9 million and an adjusted EBITDA loss of $14.9 million due to high R&D and scaling investments [2] - The Zacks Consensus Estimate for Q3 earnings per share remains unchanged at a loss of 37 cents, indicating a wider loss compared to the previous year's loss of 20 cents, with revenue expectations at $0.69 million, suggesting a 211.4% year-over-year increase [5][6] Growth Projections - Serve Robotics anticipates Q3 revenue between $600,000 and $700,000, implying year-over-year growth of 170% to 215% [9] - The company aims to deploy 2,000 robots by the end of 2025, having already surpassed 1,000 units in October [7][10] Strategic Partnerships - Serve Robotics has deepened partnerships with Uber Eats, Shake Shack, and Little Caesars, enhancing its delivery volume growth [12] - The company has expanded its merchant ecosystem to over 2,500 partners, which is expected to drive revenue growth [12] Technology and Innovation - Recent acquisitions of Vayu Robotics and Voysys are expected to enhance AI-driven autonomy and teleoperation capabilities, paving the way for stronger operational safety and margin expansion [17][18] - The company reported a 20% increase in daily operating hours per robot and a 25% reduction in intervention rates, indicating improved operational efficiency [19] Market Position and Competition - Serve Robotics faces competition from companies like Symbotic Inc. and Aurora Innovation, but its focus on autonomous sidewalk delivery positions it uniquely in the market [30][32] - The stock has gained 23.5% over the past six months, trading at a 56.3% discount to its 52-week high [25] Future Outlook - Serve Robotics aims for a long-term annualized revenue run-rate target of $60 million to $80 million once its fleet reaches full utilization by 2026 [21] - The company is fully funded through 2026 with $183 million in liquidity, allowing for continued scaling without dilution [35]

Earnings Reports Overview - The earnings season is slowing down, but several retail-favorite companies are set to report this week [1] - Key companies reporting include Barrick Mining Corp., Plug Power Inc., Oklo Inc., Cisco Systems Inc., Walt Disney Co., and Applied Materials Inc. [2][3][5][10][11] Company-Specific Insights - Barrick Mining Corp. reported its third-quarter results before the market opened on November 10 [2] - Plug Power Inc. is expected to report losses of 12 cents per share and revenue of $179.54 million, having missed earnings expectations for the last 18 quarters [3] - Oklo Inc. is anticipated to report losses of 13 cents per share and revenue of $17.01 billion, with stock volatility noted ahead of the report [5] - Cisco Systems Inc. is expected to be a focal point for investors, particularly regarding management's guidance and updates on AI and cybersecurity business momentum [10] - Walt Disney Co. and JD.com Inc. will release earnings reports before the market opens on November 13 [11] - Applied Materials Inc. is set to release its Q4 results after the market closes on November 13 [11] Additional Companies Reporting - Other companies reporting this week include Workhorse Group Inc., Beyond Meat Inc., Microvision Inc., and Virgin Galactic Holdings Inc. [4][6][12]

Core Insights - Serve Robotics shares increased significantly after the company deployed its 1,000th delivery robot, launched services in Chicago, and announced a partnership with DoorDash [1][4][5] Company Developments - Serve Robotics launched its service in the Chicago metro area, marking its entry into the Midwest and expanding to 14 neighborhoods [3] - The company announced it is on track to have 2,000 active robots by the end of the year [4] - A partnership with DoorDash was announced, starting in Los Angeles and set to expand to other cities, enhancing its collaboration with major delivery apps [5] Financial Performance - The stock finished the month up 14%, despite volatility, driven by positive news [2] - Serve Robotics reported minimal revenue, earning less than $1 million per quarter, and had $116.7 million in cash at the end of the second quarter [10] - The company raised $100 million through a direct stock offering, which led to a 16% drop in shares due to investor concerns over dilution [6][10] Market Reactions - The stock jumped 29% following the DoorDash partnership announcement but faced a decline due to the stock offering [6] - Northland raised its price target for Serve Robotics from $23 to $26, citing the new partnership and growth potential in physical AI [7]

Core Insights - Serve Robotics Inc. (SERV) is focused on enhancing operational efficiency through its autonomous delivery platform, aiming to reduce costs and improve reliability as it scales its fleet across key U.S. markets [1][9] Operational Performance - In Q2 2025, SERV achieved a 25% sequential decline in robot intervention rates, indicating improved navigation performance and reduced manual support, which led to lower variable costs per delivery [2][9] - The company is investing in autonomy software and next-generation platform development, which enhances decision-making, durability, and efficiency [2] Technology and Data Utilization - SERV's autonomy system operates as a self-learning cycle, where each delivery generates data that refines AI models and improves navigation accuracy, benefiting from larger datasets as operations expand [3] - The focus on AI-driven optimization and broader market reach is expected to yield durable efficiency gains and establish a long-term competitive advantage in the autonomous delivery sector [3] Competitive Landscape - SERV is expanding its presence in the autonomous last-mile delivery market, competing with larger players like Uber Technologies (UBER) and DoorDash (DASH), both of which are investing heavily in automation and robotic delivery [4][5] - The competitive pressure from Uber's global delivery reach and DoorDash's established infrastructure poses challenges for SERV in capturing sustained market share in urban delivery [6] Stock Performance and Valuation - SERV's stock has surged 87% over the past six months, outperforming the Zacks Computers - IT Services industry, the Zacks Computer and Technology sector, and the S&P 500 index [7] - The company currently trades at a forward price-to-sales ratio of 32.35, significantly higher than the industry average [14] Earnings Estimates - SERV's bottom-line estimates for 2025 remain unchanged at a loss of $1.30 per share, which is wider than the loss of $0.67 reported a year ago [12]

Group 1: Robotics Stocks Overview - Teradyne, Richtech Robotics, and Serve Robotics are highlighted as key robotics stocks to monitor, reflecting significant trading volume recently [2] - Robotics stocks encompass companies involved in the design, manufacturing, and provision of software and components for robots and automation systems across various sectors [2] - Investment in robotics stocks offers exposure to automation and AI-driven efficiency, but also presents sector-specific risks such as cyclical capital spending and high R&D costs [2] Group 2: Teradyne, Inc. - Teradyne, Inc. specializes in automated test systems and robotics products, operating through four segments: Semiconductor Test, System Test, Robotics, and Wireless Test [3] - The Semiconductor Test segment focuses on testing semiconductor devices for various applications, including automotive, industrial, and consumer electronics [3] Group 3: Richtech Robotics, Inc. - Richtech Robotics develops and sells robotic solutions aimed at automation in the service industry, offering products like indoor transport and delivery robots [4] - The company’s product lineup includes various delivery robots and cleaning robots, along with accessories to enhance their functionality [4] Group 4: Serve Robotics, Inc. - Serve Robotics designs and operates low-emission robots for food delivery in public spaces within the United States [5] - The company transitioned from its former name, Patricia Acquisition Corp., to Serve Robotics Inc. in July 2023, indicating a focus on the robotics sector [5]

Group 1 - Serve Robotics Inc. is recognized as one of the best AI stocks to buy under $20, with a Buy rating and an increased price target from $23 to $26 by Northland Securities analyst Michael Latimore, indicating heightened confidence in the company's growth prospects [1] - The company has entered a strategic partnership with DoorDash to deploy its sidewalk robots for food delivery, starting in Los Angeles, with plans to expand this service across the US [2] - This partnership allows Serve Robotics to enhance its order volume and customer reach, particularly in cities where DoorDash is a dominant player, thereby increasing the demand for its delivery robots [3] Group 2 - Serve Robotics develops AI-powered, low-emissions robots for last-mile delivery, focusing on food and groceries, and aims to make deliveries more sustainable and economical [4]

Core Viewpoint - Serve Robotics Inc. (SERV) shares have increased by 2.5% over the past four weeks, closing at $14.33, with a potential upside indicated by Wall Street analysts' price targets suggesting a mean estimate of $18.67, representing a 30.3% increase [1] Price Targets and Estimates - The mean estimate consists of six short-term price targets with a standard deviation of $4.37, where the lowest estimate is $15.00 (4.7% increase) and the highest is $26.00 (81.4% increase) [2] - A low standard deviation indicates a higher agreement among analysts regarding price movement, suggesting a more reliable consensus [2][9] Analyst Sentiment and Earnings Estimates - Analysts are optimistic about SERV's earnings prospects, as indicated by a positive trend in earnings estimate revisions, which historically correlates with stock price movements [4][11] - Over the last 30 days, one earnings estimate has increased, leading to a 0.5% rise in the Zacks Consensus Estimate for the current year [12] Zacks Rank and Investment Potential - SERV holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate factors, indicating strong potential for upside [13] - While consensus price targets may not be entirely reliable, the direction they imply appears to be a useful guide for potential price movement [14]

Company Overview - Serve Robotics Inc. (SERV) shares increased by 6.4% to close at $17.51, with notable trading volume exceeding typical levels [1] - The stock has experienced a 35.8% gain over the past four weeks, driven by rapid fleet expansion, increased delivery volume, and advancements in AI and autonomy technology [1] Earnings Expectations - The company is projected to report a quarterly loss of $0.37 per share, reflecting an 85% year-over-year decline [2] - Expected revenues are $0.69 million, which represents a 211.4% increase compared to the same quarter last year [2] Earnings Estimate Revisions - The consensus EPS estimate for Serve Robotics has been revised 2.7% higher in the last 30 days, indicating a positive trend that typically correlates with stock price appreciation [3] - The stock currently holds a Zacks Rank of 2 (Buy), suggesting favorable market sentiment [3] Industry Comparison - Serve Robotics is part of the Zacks Computers - IT Services industry, where Telos Corporation (TLS) has a Zacks Rank of 3 (Hold) and reported a 4% decline in its last trading session [3][4] - Telos' EPS estimate for the upcoming report remains unchanged at $0.02, marking a 120% increase from the previous year [4]