Serve Robotics Announces Third Quarter 2026 Results
Key Highlights
- ➤Q3 revenue $2.8 million, up 313% year over year
- ➤2026 revenue guidance raised to $12 million from $9 million-$10 million
- ➤2026 non-GAAP operating expense guidance lowered to $150 million
- ➤Recurring revenue reached 69% of Q3 total revenue
- ➤Cash and marketable securities totaled $198.0 million at quarter-end
Expert Statements
Ali Kashani, Co-founder and CEO of Serve Robotics
“Serve is getting stronger on every front: demand for our robots is growing, the fleet costs less to operate, and we are opening new ways to generate revenue from what we have built. We are raising our full-year revenue guidance to $12 million. And, as we announced today, with the launch of Serve Physical AI Services, the technology behind our fleets is now available to other robot makers, a significant new opportunity for us.”
Brian Read, Chief Financial Officer of Serve Robotics
“This quarter was about execution. Q3 revenue exceeded our expectations, and we drove operating expenses down while delivering more than 100 percentage points of sequential improvement in fleet margin. We believe the gains we made this quarter are structural, and they form the foundation for a long-term trend of improving unit economics.”
* Delivered over 300% revenue growth in Q3 year over year and raised full year revenue guidance for 2026 to $12 million. * Tripled daily average deliveries in Q3 with new delivery partners, and exclusively launched first international city in Australia in October. * Improved gross margin sequentially, as the mix of higher-margin recurring revenue jumped to nearly 70% of all revenues. * Ended Q3 with over $198 million in cash and marketable securities, reflecting strong balance sheet and operational flexibility. SAN FRANCISCO, Nov. 05, 2026 (GLOBE NEWSWIRE) -- Serve Robotics Inc. (the “Company” or “Serve”) (Nasdaq: SERV), a leading autonomy and robotics company, today announced financial results for the third quarter ended September 30, 2026.
“Serve is getting stronger on every front: demand for our robots is growing, the fleet costs less to operate, and we are opening new ways to generate revenue from what we have built,” said Dr. Ali Kashani, Serve’s Co-founder and CEO. “We are raising our full-year revenue guidance to $12 million. And, as we announced today, with the launch of Serve Physical AI Services, the technology behind our fleets is now available to other robot makers, a significant new opportunity for us.”
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