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Serve Robotics Inc (SERV)
NASDAQ:SERV
RESEARCH TOOLSreports
Earnings Data
Report Date
May 14, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
-0.18Last Year’s EPS
-0.37Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 06, 2025
|% Change Since: -6.19%
|Next Earnings Date:May 14, 2025
Earnings Call Sentiment|Positive
Serve Robotics Inc. demonstrated significant growth in revenue and market reach, with strong technological advancements and cost reductions. However, challenges such as increased operating expenses, higher net loss, and difficulties in a planned acquisition indicate there are still hurdles to overcome. The company's strong cash position and strategic expansions provide a positive outlook.Company Guidance
During the conference call, Serve Robotics Inc. provided several key metrics and updates for their fiscal year 2024 and plans for 2025. The company reported a significant increase in revenue, reaching $1.8 million, a 700% year-over-year growth. They expanded their reach by tripling the number of restaurants served and doubling the number of households reached, now supporting over 1,000 restaurants and 300,000 households. Serve completed the design and manufacturing of 250 third-generation robots, with a 30% cost reduction compared to previous models, and plans to deploy 2,000 robots by the end of 2025. In Q4, the company saw a 20% increase in delivery orders despite not expanding their delivery fleet until the end of the quarter. The company also improved its gross margin from negative 700% in 2023 to negative 4% in 2024 and ended the year with a strong cash position of $123 million. They are preparing for a major scale-up in the second half of 2025, aiming to build 700 new lower-cost robots in Q3 and the remainder in Q4, while also expanding into new cities like Dallas and Atlanta.Record Revenue Growth
Serve Robotics Inc. reported $1.8 million in revenue for 2024, marking a 700% increase year over year. This growth was driven by a significant increase in software services and delivery and branding revenue.
Expansion and Market Reach
The number of restaurants served tripled, and household reach doubled in four months, with new expansions in LA and Miami. The company now supports over 1,000 restaurants and reaches over 300,000 households.
Cost Reduction and Financial Improvement
The cost of building third-generation robots was reduced by two-thirds over the year. The company also became debt-free and improved its cash position, saving $20 million in future capital costs.
Technology Advancements
Third-generation robots were developed with a 30% speed increase and a 75% reduction in misdelivery rates. The company achieved a 35% cost reduction in the next batch of Gen 3 robots.
Strong Cash Position
Serve Robotics ended the year with a robust cash position of $123 million, having raised over $250 million in 2024.
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SERV Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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SERV Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Mar 06, 2025 | $7.92 | $7.43 | -6.19% |
| Nov 07, 2024 | $10.83 | $9.04 | -16.53% |
| Aug 13, 2024 | $10.37 | $11.37 | +9.64% |
| May 15, 2024 | $3.85 | $3.48 | -9.61% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Serve Robotics Inc (SERV) report earnings?
Serve Robotics Inc (SERV) is schdueled to report earning on May 14, 2025, TBA Not Confirmed.
What is Serve Robotics Inc (SERV) earnings time?
Serve Robotics Inc (SERV) earnings time is at May 14, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SERV EPS forecast?
SERV EPS forecast for the fiscal quarter 2025 (Q1) is -0.18.
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