Serve Robotics Inc (SERV) AI Stock Analysis

• Market Cap: $731.16M
• Dividend Yield: N/A
• Average Volume (3M): 6.59M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.61
• Revenue Growth: -2.66%
• EPS Growth: -28.60%
• Country: US
• Employees: 120
• Sector: General
• Sector Strength: N/A
• Industry: Industrial - Machinery
• EPS (TTM): -0.36
• Shares Outstanding: 59,881,730
• 10 Day Avg. Volume: 7,720,771
• 30 Day Avg. Volume: 6,590,105
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.65
• Enterprise Value/Revenue: 322.47
• Enterprise Value/Gross Profit: -92.86
• Enterprise Value/Ebitda: -8.10
• 1Y Price Target: $16.17
• Price Target Upside: 37.85% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 4

• Rating: 52 Neutral
• Price Target: $10.50 ▼(-10.49% Downside)

Serve Robotics Inc. has a moderate overall stock score of 52, driven primarily by its financial challenges and mixed technical indicators. The promising growth prospects and strategic acquisitions provide some optimism, but the company's negative profitability and valuation metrics weigh heavily on the score.

Positive Factors

Strategic Acquisitions

The acquisition of Vayu Robotics enhances Serve's AI capabilities, positioning it at the forefront of autonomous delivery, improving efficiency and market reach.

Fleet Expansion

Expanding the fleet size ahead of schedule enhances Serve's delivery capacity, supporting revenue growth and market expansion.

Strong Financial Position

A strong cash position ensures Serve can fund its fleet expansion and strategic initiatives, supporting long-term growth and stability.

Negative Factors

Negative Profitability

Persistent negative margins indicate profitability challenges, which can hinder long-term financial health and investment capacity.

Increased Operating Expenses

Rising operating expenses due to expansion can strain financial resources, impacting profitability and cash flow in the short to medium term.

Negative Cash Flow

Negative operating cash flow indicates cash management challenges, potentially limiting Serve's ability to invest in growth and innovation.

Serve Robotics Inc Business Overview & Revenue Model

Company Description

Serve Robotics Inc. designs, develops, and operates low-emission robots that serve people in public spaces with food delivery in the United States. It builds self-driving delivery robots. The company was formerly known as Patricia Acquisition Corp. and changed its name to Serve Robotics Inc. in July 2023. Serve Robotics Inc. was founded in 2017 and is based in Redwood City, California.

How the Company Makes Money

Serve Robotics Inc generates revenue through a combination of direct sales, service agreements, and partnership collaborations. The company sells its autonomous delivery robots to businesses and logistics companies seeking to optimize their delivery operations. Additionally, Serve Robotics offers service contracts for maintenance and software updates, ensuring optimal performance of deployed units. Strategic partnerships with retail and food delivery companies also contribute to its earnings, as these collaborations often include revenue-sharing models and exclusive service agreements, allowing Serve Robotics to expand its market reach and drive adoption of its technology.

Serve Robotics Inc Financial Statement Overview

Summary

Serve Robotics Inc. faces significant financial challenges, with negative profitability and cash flow metrics. Despite some revenue growth, the company struggles with negative margins and cash flows. However, low debt levels provide some stability.

Income Statement

Serve Robotics Inc. has shown some revenue growth, with a TTM growth rate of 13.29%. However, the company is struggling with negative margins across the board, including a net profit margin of -37.29% and an EBIT margin of -37.75%. These negative margins indicate significant profitability challenges.

Balance Sheet

The company maintains a low debt-to-equity ratio of 0.012, suggesting limited leverage. However, the return on equity is negative at -36.47%, indicating that the company is not generating returns on its equity base. The equity ratio is relatively stable, but overall financial health is weak due to persistent losses.

Cash Flow

Cash flow analysis reveals a negative operating cash flow and free cash flow, although there is a positive free cash flow growth rate of 38.05% in the TTM. The operating cash flow to net income ratio is negative, reflecting ongoing cash flow challenges.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.48M	1.81M	207.54K	107.82K	0.00
Gross Profit	-5.14M	-75.16K	-1.52M	-1.04M	-42.47K
EBITDA	-58.93M	-37.98M	-20.69M	-20.83M	-21.62M
Net Income	-55.18M	-39.19M	-24.81M	-21.86M	-21.67M
Balance Sheet
Total Assets	214.31M	139.60M	2.80M	8.54M	8.66M
Cash, Cash Equivalents and Short-Term Investments	183.33M	123.27M	6.76K	2.72M	7.97M
Total Debt	2.58M	2.34M	4.37M	7.48M	0.00
Total Liabilities	7.11M	7.92M	6.84M	21.00M	336.31K
Stockholders Equity	207.21M	131.68M	-4.03M	-12.45M	8.32M
Cash Flow
Free Cash Flow	-56.10M	-31.79M	-15.98M	-25.05M	-10.87M
Operating Cash Flow	-37.15M	-21.54M	-15.97M	-21.40M	-10.71M
Investing Cash Flow	-91.45M	-10.32M	-4.91K	-4.06M	-258.73K
Financing Cash Flow	216.52M	155.12M	13.27M	20.21M	18.93M

Serve Robotics Inc Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 11.73
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SERV, the sentiment is Positive. The current price of 11.73 is above the 20-day moving average (MA) of 10.69, above the 50-day MA of 10.69, and above the 200-day MA of 11.07, indicating a bullish trend. The MACD of 0.38 indicates Negative momentum. The RSI at 58.89 is Neutral, neither overbought nor oversold. The STOCH value of 68.36 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SERV.

Serve Robotics Inc Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SERV	52 Neutral	$731.16M	―	-46.83%	―	-2.66%	-28.60%
CETY	49 Neutral	18.72M	-3.63	-150.29%	―	-80.89%	50.92%
LASE	49 Neutral	39.97M	-8.51	-103.61%	―	123.75%	66.85%
BWEN	47 Neutral	49.08M	-21.76	-3.73%	―	-18.38%	-128.11%
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

Serve Robotics Inc Corporate Events

Serve Robotics Inc Acquires Vayu Robotics for AI Advancement

Serve Robotics Inc. announced the acquisition of Vayu Robotics, a pioneer in AI-based urban robot navigation, on August 18, 2025. This strategic move aims to enhance Serve’s capabilities in autonomous delivery by integrating Vayu’s AI foundation models and simulation-powered data engine, positioning Serve at the forefront of the robotics industry. The acquisition is expected to accelerate Serve’s roadmap, expand its autonomy training capabilities, and facilitate entry into new markets and use cases, ultimately improving operational efficiency and reducing delivery costs. Vinod Khosla, Vayu’s lead investor, will join Serve’s Advisory Board, further strengthening Serve’s industry positioning.

Serve Robotics Reports Q2 2025 Financial Growth

On August 7, 2025, Serve Robotics Inc. announced its financial results for the second quarter of 2025, highlighting a significant delivery volume growth of nearly 80% quarter over quarter and a 46% increase in revenue to $642 thousand. The company expanded into new markets, including Atlanta and Chicago, and maintained a strong liquidity position of $183 million. Serve Robotics also announced a new partnership with Little Caesars, emphasizing its strategic focus on becoming a preferred delivery partner for key merchants. The company plans to quadruple its fleet again in the latter half of 2025, projecting an annualized revenue run-rate of $60 to $80 million once its 2,000-robot fleet is fully deployed by 2026.

Serve Robotics Inc Confirms Director Elections and Key Proposals

At the 2025 annual meeting of Serve Robotics Inc. held on June 12, 2025, stockholders voted on several key proposals. The election of two directors, Lily Sarafan and Olivier Vincent, to serve as Class II directors until 2028 was confirmed. Additionally, the selection of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025, was ratified. Furthermore, an amendment to the 2023 Equity Incentive Plan to increase the number of shares authorized for issuance was approved. These decisions reflect the company’s strategic direction and governance priorities.