Autonomous Last - Mile Transportation

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Serve Robotics Announces Second Quarter 2025 Results
Globenewswireยท 2025-08-07 20:45
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].