Serve Robotics Inc. Reports Q4 2025 Earnings, Exceeds Expectations

Serve Robotics Inc. (NASDAQ: SERV): Earnings Overview and Outlook

Serve Robotics Inc. (NASDAQ: SERV) reported fourth-quarter 2025 results on March 11, 2026, posting a GAAP loss per share of $0.46, slightly better than the consensus estimate of -$0.48, and revenue of $882,000, above expectations.

Serve Robotics develops autonomous delivery robots and operates primarily in sidewalk delivery. The company works with delivery platforms such as Uber Eats and DoorDash, so those companies are better described as partners rather than direct competitors in this context. Serve has also expanded into adjacent robotics markets through acquisitions, including Diligent Robotics, which adds indoor healthcare applications to its platform.

In the fourth quarter of 2025, Serve generated $0.9 million in revenue, up roughly 400% year over year, while full-year 2025 revenue reached $2.7 million, above prior guidance of $2.5 million. The company said it had scaled its fleet to 2,000 deployed robots by year-end and expanded its operating footprint to 20 cities across six major metropolitan areas.

Serve also broadened its platform through new launches, the addition of DoorDash alongside Uber Eats, growth to more than 4,500 merchant partners, and four strategic acquisitions intended to strengthen its robotics and AI capabilities. Revenue diversification is also improving, with recurring revenue growing from about $200,000 in Q1 to more than $800,000 in Q4.

Looking ahead, Serve raised its 2026 revenue outlook to approximately $26 million and said the increase is being driven by continued delivery growth and the addition of Diligent Robotics, which contributes recurring revenue and expands the company’s multi-vertical robotics platform. The company also expects about $25 million in 2026 capital expenditures.

From a balance-sheet perspective, Serve reported $260 million in cash and marketable securities as of December 31, 2025, indicating substantial liquidity to support expansion. At the same time, the company remains deeply unprofitable, with a full-year 2025 net loss of $101.4 million and a Q4 gross loss of $6.7 million, so the path to profitability is still uncertain despite strong revenue growth.