Serve Robotics Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 revenue surged 578% year-over-year to nearly $3 million, driven by rapid fleet and software growth, and the integration of Diligent Robotics. Recurring revenue now comprises nearly half of total revenue, and 2026 guidance is reaffirmed at $26 million.
Fiscal Year 2025
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Achieved 400% Q4 revenue growth and exceeded full-year guidance, deploying 2,000 robots across 20 cities and expanding into healthcare via acquisitions. Raised 2026 revenue outlook to $26M, with strong recurring revenue and international expansion planned.
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Q3 2025 saw robot deployments surpass 1,000, revenue up 210% year-over-year, and major partnerships expand reach to over 80% of the US food delivery market. Operational efficiency improved, and the company remains on track for 2,000 robots and $2.5M+ revenue in 2025.
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Q2 2025 saw 46% sequential revenue growth and nearly 80% delivery volume growth, with the fleet expanding to over 400 robots and reach to 800,000 households. Guidance for Q3 revenue is $600,000–$700,000, and the company remains on track for a 2,000-robot fleet by year-end.
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Q1 saw 150% sequential revenue growth, 75% higher delivery volume, and expansion into new markets, with strong cash reserves and a self-funded fleet strategy. Guidance projects 35%-60% revenue growth in Q2 and continued rapid scaling toward 2,000 robots by year-end.
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A new generation of autonomous delivery robots is being deployed in major U.S. cities, targeting 2,000 units in 2024 with strong partnerships and a focus on food delivery. The robots aim to reduce delivery costs, operate up to 16 hours daily, and offer additional revenue through branding.
Fiscal Year 2024
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2024 revenue surged 700% year-over-year to $1.8 million, with major expansion into new markets and significant cost reductions in Gen 3 robots. The company ended the year with $123 million in cash, is on track to deploy 2,000 robots by end of 2025, and targets $60–$80 million in annualized revenue at full fleet utilization.
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Q3 saw strong revenue growth and operational progress, with robot deployments ahead of schedule and new partnerships expanding reach. The Vebu acquisition positions the company for kitchen automation, while a robust cash balance supports 2025 expansion plans.
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Q2 saw strong revenue and margin growth, driven by operational improvements and increased robot deployment. Fleet expansion to 2,000 robots is underway, targeting $60–$80 million annual revenue run rate by end of 2025, supported by a solid balance sheet and strategic partnerships.