Serve Robotics Stock Dips After Q2 Earnings Miss

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]