Serve Robotics Announces Second Quarter 2026 Results

• Delivered over 400% revenue growth in Q2 year over year as diverse portfolio of revenue across delivery, branding, and software grew strong triple digits compared to a year ago.
• Further diversified revenue applications for Serve’s autonomous robot fleet with new delivery partnership with NoScrubs Laundry in addition to existing food, healthcare, and grocery delivery operations.
• Improved gross margin over prior quarter, as the mix of higher-margin recurring revenue jumped to over 50% of all revenues
• Ended Q2 with over $240 million in cash and marketable securities, reflecting strong balance sheet and operational flexibility. SAN FRANCISCO, Aug. 06, 2026 (GLOBE NEWSWIRE) -- Serve Robotics Inc. (the “Company” or “Serve”) (Nasdaq: SERV), a leading autonomy and robotics company, today announced financial results for the second quarter ended June 30, 2026.

“Serve is driving innovation in last-mile delivery as our scaled robot fleet is powering deliveries across multiple verticals,” said Dr. Ali Kashani, Serve’s Co-founder and CEO. “Our leadership in autonomy and commercial deployment has created advantages that compound with scale, enabling unique partnerships, more diversified revenue streams, and new monetization opportunities, all while maintaining a disciplined approach to growth.”

“Our updated outlook reflects a deliberate decision to concentrate our fleet and capital behind the highest-return opportunities,” said Brian Read, Chief Financial Officer of Serve. “By lowering our expected operating expenses while maintaining one of the strongest balance sheets in our sector, we have the flexibility to continue expanding our autonomous network, investing in our technology platform, and driving sustainable long-term growth.”

Business and Financial Highlights

• Revenue Diversification: advertising made up nearly 50% of food delivery revenue in Q2, and recurring revenue made up over 50% of total revenues in Q2.
• Healthcare Progress: delivered steady revenue in Q2 in line with expectations and signed 7 multiyear contract extensions with our hospital customers and added 2 new hospitals in 1H 2026, demonstrating continued customer demand for our healthcare automation platform.
• Delivery Partner Acceleration: revenue derived from our DoorDash partnership grew nearly 50% sequentially and exceeded our expectations.
• Revenue Growth: Revenue of $3.2 million, increasing 9% sequentially and 404% year-over-year.
• Balance Sheet: Maintained a strong liquidity position of $240.4 million as of June 30, 2026.
• Outstanding Shares: Approximately 86 million shares of common stock outstanding as of June 30, 2026. Outlook
• The Company revised its full year 2026 revenue guidance to a range of $9 million to $10 million. The revision reflects lower than expected delivery volume through the Company’s Uber Eats partnership, including a decline reflected in Q2 results and the removal of projected demand in the second half of 2026.
• Improved FY2026 Non-GAAP operating expense of $140 to $150 million, down from $160 to $170 million previously. Supplemental Financial Information

The key metrics and financial tables outlined below are metrics that provide management with additional understanding of the drivers of business performance and the Company’s ability to deliver stockholder return. Investors should not place undue reliance on these metrics as indicators of future or expected results. The Company’s presentation of these metrics may differ from similarly titled metrics presented by other companies and therefore comparability may be limited.

Table 1 Key Metrics (unaudited)

Table 2 Disaggregation of Revenue (in thousands) (unaudited)

Quarterly Conference Call Information

Management will host a conference call and webcast today at 2:00 p.m. PT / 5:00 p.m. ET to discuss the financial results and provide a corporate update. A live webcast and replay can be accessed from the investor relations page of Serve’s website at investors.serverobotics.com.

Individuals interested in listening to the conference call may do so by dialing 800-715-9871 and referencing conference ID 4965302.

About Serve

Serve (Nasdaq: SERV) designs and operates autonomous robots that navigate complex, human-centric environments. Since spinning off from Uber in 2021, Serve has deployed more than 2,000 robots across the U.S., reaching a population of approximately 3 million and supporting delivery for more than 4,000 restaurants. In 2026, Serve acquired Diligent Robotics, Inc., expanding its operations beyond sidewalk delivery into indoor service robots used in hospitals. Serve designs both the hardware and software behind its robots, enabling them to work safely in public and private environments at scale.

For further information about Serve (Nasdaq: SERV), please visit www.serverobotics.com or follow us on social media via X (Twitter), Instagram, or LinkedIn @serverobotics.

Forward Looking Statements

This press release contains “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the context of the statement and generally arise when we or our management are discussing our beliefs, estimates or expectations. Such statements generally include the words “believes,” “plans,” “intends,” “targets,” “may,” “could,” “should,” “will,” “expects,” “estimates,” “suggests,” “anticipates,” “outlook,” “continues,” or similar expressions. These statements are not historical facts or guarantees of future performance, but represent management’s belief at the time the statements were made regarding future events which are subject to certain risks, uncertainties and other factors, many of which are outside of our control. Actual results and outcomes may differ materially from what is expressed or forecast in such forward-looking statements. Forward-looking statements include statements regarding the Company’s future revenue generation, business and investment strategy, timing of robot manufacturing and deployment, ability to expand to additional markets, capabilities of the Company’s robots, outcomes of planned and completed acquisitions, partnerships with multiple delivery platforms, and timing and ability to scale to commercial production.

The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in our filings with the Securities and Exchange Commission (“SEC”), including in the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2025, as supplemented by the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, and in the Company’s subsequent SEC filings. The Company can give no assurance that the plans, intentions, expectations or strategies as reflected in or suggested by those forward-looking statements will be attained or achieved. The forward-looking statements in this press release are based on information available to the Company as of the date hereof, and the Company disclaims any obligation to update any forward-looking statements, except as required by law. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of this press release.

Non-GAAP Measures of Financial Performance

To supplement the Company’s financial statements, which are presented on the basis of U.S. generally accepted accounting principles (“GAAP”), the following non-GAAP measures of financial performance are included in this release: adjusted EBITDA, non-GAAP cost of sales, non-GAAP research and development expense, non-GAAP general and administrative expense, non-GAAP operations expense, non-GAAP sales and marketing expense, non-GAAP operating expense, non-GAAP net loss before income taxes, non-GAAP net loss and non-GAAP earnings per share.

The Company believes that providing this non-GAAP information in addition to the GAAP financial information allows investors to view the financial results in the way the company views its operating results. The Company also believes that providing this information allows investors to not only better understand the Company’s financial performance, but also, better evaluate the information used by management to evaluate and measure such performance.

As such, the Company believes that disclosing non-GAAP financial measures to the readers of its financial statements provides the reader with useful supplemental information that allows for greater transparency in the review of the Company’s financial and operational performance. The Company defines its non-GAAP measures by excluding stock-based compensation.

Reconciliations of GAAP to these adjusted non-GAAP financial measures are included in the tables presented. When analyzing the Company’s operating results, investors should not consider non-GAAP measures as substitutes for the comparable financial measures prepared in accordance with GAAP.

To the extent that the Company presents any forward-looking non-GAAP financial measures, the Company does not present a quantitative reconciliation of such measures to the most directly comparable GAAP financial measure (or otherwise present such forward-looking GAAP measures) because it is impractical to do so.

Contacts

Investor Relations investor.relations@serverobotics.com

Table 3 Serve Robotics Inc. Condensed Consolidated Balance Sheets (in thousands) (unaudited)

Table 4 Serve Robotics Inc. Condensed Consolidated Statements of Operations (in thousands, except share and per share data) (unaudited)

Weighted average common shares outstanding - basic and diluted 80,310,583 75,302,980 57,514,808 77,820,615 56,953,711 Net loss per common share - basic and diluted $ (0.80 ) $ (0.65 ) $ (0.36 ) $ (1.45 ) $ (0.60 )

Table 5 Serve Robotics Inc. Condensed Consolidated Statements of Cash Flows (in thousands) (unaudited)

Table 6 Reconciliation of GAAP Net Losses to Adjusted EBITDA (In thousands) (Unaudited)

Table 7 Reconciliation of GAAP Measures to Non-GAAP Measures (in thousands, except share and per share data) (unaudited)

Weighted average common shares outstanding - basic and diluted 80,310,583 75,302,980 57,514,808 77,820,615 56,953,711 GAAP basic and diluted net loss per Common share $ (0.80 ) $ (0.65 ) $ (0.36 ) $ (1.45 ) $ (0.60 ) Non-GAAP basic and diluted net loss per Common share $ (0.59 ) $ (0.50 ) $ (0.24 ) $ (1.09 ) $ (0.41 ) (link)

GlobeNewswire, Inc. 2026

Article ID: nGNX7LLdzQ Archive began May 2026 · Available for up to 365 days after publication