Serve Robotics Announces First Quarter 2025 Results

Core Viewpoint - Serve Robotics Inc. reported strong financial results for Q1 2025, achieving significant growth in revenue and operational scale while expanding its fleet and market reach [1][6][14]. Business Highlights - Successfully built and deployed 250 new third-generation robots, enhancing operational scale and efficiency [6] - Expanded geographic presence into Miami and Dallas, with plans for Atlanta launch on track [6] - Increased delivery volume by over 75% from the first to the last week of Q1 2025, maintaining a high delivery completion rate of up to 99.8% [7] - Expanded partnerships to over 1,500 merchants, a 50% increase quarter-over-quarter and a fivefold increase year-over-year [7] - Currently serving over 320,000 households, representing a 110% increase since December 2024 [7] Financial Highlights - Q1 2025 revenue reached $440 thousand, a 150% increase compared to Q4 2024 [6][15] - The company ended the quarter with a record cash position of $198 million, providing financial stability through the end of 2026 [6][23] - Daily active robots increased to 73 from 57 in Q4 2024, and daily supply hours rose to 648 from 455 [12][13] - The company reported a net loss of $13.2 million for Q1 2025, compared to a net loss of $13.1 million in Q4 2024 [25] Outlook - Serve Robotics maintains an annualized revenue run-rate projection of $60-$80 million once the 2,000-robot fleet is fully deployed, anticipated during 2026 [14] - Guidance for Q2 2025 indicates total revenue in the range of $600 - $700 thousand, representing growth of approximately 35-60% quarter-over-quarter [14]