The call highlighted clear operational and commercial momentum: rapid fleet scale to 2,000 robots, strong percentage growth across revenue, delivery volume, merchant partnerships, and emerging monetization (advertising, software, data, healthcare). Management raised 2026 revenue guidance materially and emphasized the platform/flywheel strategy supported by four acquisitions and $260M liquidity. However, sizable near-term profitability headwinds remain: adjusted EBITDA was negative $28M, Q4 GAAP opex was high, and 2026 non-GAAP opex guidance is elevated. The company also faces execution risks from integrations, supply-chain timing, and the need to mature newly deployed cohorts to reach steady-state economics. Overall, operational wins and a strong cash position outweigh near-term losses and integration/timing risks, supporting a constructive outlook if execution continues.

Company Guidance

Serve Robotics raised 2026 revenue guidance to approximately $26.0 million, driven in part by an expected ~$7.0 million contribution from the recently acquired Diligent Robotics, and plans roughly $25.0 million of capital expenditures for 2026; management expects 2026 non‑GAAP operating expenses of about $160–170 million (with recent acquisitions increasing the 2026 operating base by $20–30 million). The company closed 2025 with $260.0 million in cash and marketable securities, reported adjusted EBITDA of negative $28.0 million (Q4) and expects sequential improvement in adjusted EBITDA margins through 2026, while highlighting long‑term potential for a $60–80 million annualized revenue run rate at full fleet utilization; additionally, recurring software now represents ~70% of software revenue and underlying recurring revenues grew over 3x in 2025.

Major Fleet Deployment Milestone

Activated a fleet of 2,000 robots across 20 cities (six major metros), completing the 2,000th robot mid-December and deploying nearly 1,000 robots in Q4 alone.

Strong Q4 and Full-Year Revenue Growth

Q4 revenue was $900,000 (reported ~400% year-over-year growth in the quarter). Full-year 2025 revenue was $2,700,000, exceeding guidance of $2,500,000 and representing 46% growth versus prior year.

Substantial Usage and Volume Acceleration

Delivery volume grew 53% quarter-over-quarter in Q4 and roughly 270% for the full year versus 2024; average daily operating hours per robot increased 56% to over 12 hours year-over-year (Q4 comparison).

Expanded Partnerships and Market Access

Added DoorDash alongside Uber Eats to become a multiplatform fleet covering over 80% of the U.S. food delivery market; merchant network expanded to over 4,500 restaurants/retail partners (more than 10x from ~400 a year ago) and reach of ~1.7M households.

Strategic Acquisitions Strengthening the Platform

Completed four acquisitions (including Diligent Robotics, VYU Robotics, Phantom Auto, and Veebo) that bolster data collection (indoor + outdoor), model development, connectivity/remote supervision, and merchant partnerships; Diligent adds ~100 Moxie robots with >1,000,000 deliveries across 25+ hospitals.

Emerging New Revenue Streams and Monetization

Branding/advertising bookings rose ~50% year-over-year in Q4; software revenues exceeded $200,000 in Q4 with recurring software representing ~70% of software revenues; first revenues from data monetization were recorded in Q4.

Raised 2026 Revenue Guidance and Large Addressable Opportunity

Raised 2026 revenue guidance to approximately $26,000,000 (driven primarily by the Diligent Robotics acquisition and recurring healthcare contracts expected to contribute roughly $7,000,000 in 2026); management reiterated multi-vertical and international expansion roadmap with a path toward much larger fleet sizes.

Solid Liquidity Position

Ended the year with $260,000,000 in cash and marketable securities, providing flexibility for capital-intensive scaling and acquisitions.

Serve Robotics Inc (SERV) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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SERV Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 20, 2026	2026 (Q1)	-0.59 / -	-0.23	―	―	―
Mar 11, 2026	2025 (Q4)	-0.48 / -0.34	-0.36	5.56% (+0.02)	―
Nov 12, 2025	2025 (Q3)	-0.32 / -0.40	-0.2	-100.00% (-0.20)	―
Aug 07, 2025	2025 (Q2)	-0.20 / -0.36	-0.27	-33.33% (-0.09)	―
May 08, 2025	2025 (Q1)	-0.19 / -0.23	-0.37	37.84% (+0.14)	―
Mar 06, 2025	2024 (Q4)	-0.16 / -0.36	-0.19	-89.47% (-0.17)	―
Nov 07, 2024	2024 (Q3)	-0.16 / -0.20	-0.208	3.85% (<+0.01)	―
Aug 13, 2024	2024 (Q2)	-0.25 / -0.27	-0.135	-100.00% (-0.14)	―
May 15, 2024	2024 (Q1)	- / -0.37	-0.139	-166.19% (-0.23)	―	―

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

SERV Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Mar 11, 2026	$9.67	$10.65	+10.13%
Nov 12, 2025	$10.47	$9.42	-10.03%
Aug 07, 2025	$10.59	$10.47	-1.13%
May 08, 2025	$6.56	$7.46	+13.72%

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.

FAQ

When does Serve Robotics Inc (SERV) report earnings?

Serve Robotics Inc (SERV) is schdueled to report earning on May 20, 2026, Before Open (Confirmed).

What is Serve Robotics Inc (SERV) earnings time?

Serve Robotics Inc (SERV) earnings time is at May 20, 2026, Before Open (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 2026 (Q1) is -0.59.