Serve Robotics Inc (SERV) AI Stock Analysis

• Market Cap: $915.26M
• Dividend Yield: N/A
• Average Volume (3M): 15.12M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.55
• Revenue Growth: -2.66%
• EPS Growth: -28.60%
• Country: US
• Employees: 120
• Sector: Industrials
• Sector Strength: 72
• Industry: Industrial - Machinery
• EPS (TTM): -0.36
• Shares Outstanding: 66,131,730
• 10 Day Avg. Volume: 12,866,053
• 30 Day Avg. Volume: 15,117,700
• 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: 0.52
• Enterprise Value/Revenue: 322.47
• Enterprise Value/Gross Profit: -92.86
• Enterprise Value/Ebitda: -8.10
• 1Y Price Target: $20.50
• Price Target Upside: 51.07% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3

• Rating: 52 Neutral
• Price Target: $13.00 ▼(-4.20% Downside)

Serve Robotics Inc. shows potential with strong growth and expansion plans, as highlighted in the earnings call. However, significant financial challenges and a lack of profitability weigh heavily on the stock's overall score. Technical indicators provide a mixed outlook, and valuation metrics are unattractive due to negative earnings.

Positive Factors

Strategic Partnerships

Strategic partnerships with major brands like Little Caesars and Uber Eats enhance Serve Robotics' market presence and revenue potential, providing a durable competitive advantage in the autonomous delivery sector.

Fleet and Market Expansion

Expanding the robot fleet and entering new markets like Atlanta positions Serve Robotics for sustained growth, increasing their service capacity and geographical reach, which is crucial for long-term success in urban logistics.

Strong Cash Position

A strong cash position ensures Serve Robotics can self-fund its expansion plans, providing financial stability and enabling continued investment in technology and market growth without immediate external funding needs.

Negative Factors

Negative Profitability

Persistent negative profitability and cash flow issues highlight financial instability, which can hinder Serve Robotics' ability to sustain operations and invest in growth, posing a risk to long-term viability.

Increased Operating Expenses

Rising operating expenses due to market expansion and capability investments may strain Serve Robotics' financial resources, impacting margins and delaying the path to profitability, affecting long-term financial health.

Negative Adjusted EBITDA

Negative EBITDA indicates operational inefficiencies and financial challenges, which could limit Serve Robotics' ability to invest in growth initiatives and improve profitability, affecting its long-term competitive position.

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 generates revenue through multiple streams, primarily by partnering with restaurants, grocery stores, and delivery platforms to provide autonomous delivery services. The company typically charges a fee per delivery, which can be structured as a flat rate or a percentage of the order value. Additionally, Serve Robotics may earn income from licensing its technology and software to other companies looking to implement similar delivery solutions. Strategic partnerships with major brands and integration with existing delivery networks further enhance their revenue potential, while ongoing maintenance and support services for their robotic systems contribute to long-term earnings.

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: Neutral
• Last Price: 13.57
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SERV, the sentiment is Neutral. The current price of 13.57 is below the 20-day moving average (MA) of 14.52, above the 50-day MA of 12.55, and above the 200-day MA of 11.07, indicating a neutral trend. The MACD of 0.34 indicates Positive momentum. The RSI at 48.75 is Neutral, neither overbought nor oversold. The STOCH value of 24.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SERV.

Serve Robotics Inc Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	―	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
GTEC	―	$21.05M	2.01	12.26%	―	-9.69%	―
CVV	―	$29.11M	-79.51	-1.47%	―	34.35%	93.12%
SERV	―	$915.26M	―	-46.83%	―	-2.66%	-28.60%
BWEN	―	$50.46M	―	-3.73%	―	-18.38%	-128.11%
BURU	―	$45.35M	―	―	―	-98.68%	91.24%

Serve Robotics Inc Corporate Events

Serve Robotics Inc Announces $100M Stock Offering

On October 10, 2025, Serve Robotics Inc. announced a securities purchase agreement with institutional investors to sell 6,250,000 shares of common stock through a registered direct offering, expected to generate approximately $100 million in gross proceeds. The offering, set to close on October 14, 2025, aims to fund general corporate purposes, including working capital and capital expenditures, and involves Northland Securities as the exclusive placement agent.

The most recent analyst rating on (SERV) stock is a Hold with a $18.50 price target. To see the full list of analyst forecasts on Serve Robotics Inc stock, see the SERV Stock Forecast page.

Serve Robotics Partners with DoorDash for Robot Deliveries

On October 9, 2025, Serve Robotics Inc. announced a strategic partnership with DoorDash to expand the use of its autonomous delivery robots on the DoorDash platform, starting in Los Angeles with plans to extend to other cities. This collaboration is part of DoorDash’s strategy to integrate various delivery methods, including robots, to meet growing demand while reducing emissions and traffic, and it positions Serve Robotics to increase its delivery volume and market reach.

The most recent analyst rating on (SERV) stock is a Buy with a $23.00 price target. To see the full list of analyst forecasts on Serve Robotics Inc stock, see the SERV Stock Forecast page.

Serve Robotics Deploys 1,000th Autonomous Delivery Robot

On October 6, 2025, Serve Robotics Inc. announced the deployment of its 1,000th third-generation autonomous delivery robot, marking a significant milestone in its operations. The company remains on track to achieve its goal of deploying 2,000 robots by the end of 2025, which underscores its commitment to expanding its presence in the delivery sector and enhancing its market positioning.

The most recent analyst rating on (SERV) stock is a Buy with a $23.00 price target. To see the full list of analyst forecasts on Serve Robotics Inc stock, see the SERV Stock Forecast page.

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.

The most recent analyst rating on (SERV) stock is a Buy with a $16.00 price target. To see the full list of analyst forecasts on Serve Robotics Inc stock, see the SERV Stock Forecast page.

Serve Robotics Inc’s Earnings Call: Growth Amid Challenges

Serve Robotics Inc’s recent earnings call painted a picture of robust growth tempered by some financial challenges. The company reported significant revenue and delivery volume increases, alongside fleet expansion and new partnerships. However, there were concerns about declines in software and branding revenues, rising operating expenses, and a negative adjusted EBITDA.

Serve Robotics Reports Strong Q2 Growth and Expansion

Serve Robotics Inc., a leader in autonomous sidewalk delivery, specializes in AI-powered robots designed to make last-mile delivery sustainable and economical. Spun off from Uber in 2021, the company has completed numerous deliveries for partners like Uber Eats and 7-Eleven.

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.

The most recent analyst rating on (SERV) stock is a Buy with a $16.00 price target. To see the full list of analyst forecasts on Serve Robotics Inc stock, see the SERV Stock Forecast page.