Serve Robotics Reports Strong Q1 2025 Growth

Serve Robotics Inc ( (SERV) ) has released its Q1 earnings. Here is a breakdown of the information Serve Robotics Inc presented to its investors.

Serve Robotics Inc., a leader in autonomous sidewalk delivery, specializes in developing AI-powered, low-emission delivery robots aimed at making deliveries more sustainable and economical. The company, which spun off from Uber in 2021, has recently reported its financial results for the first quarter of 2025, showcasing significant growth and strategic advancements.

In the first quarter of 2025, Serve Robotics achieved a substantial milestone by building and deploying 250 new third-generation robots, which contributed to a 150% increase in revenue compared to the previous quarter, reaching $440 thousand. The company also expanded its geographic presence by launching operations in Miami and Dallas, with plans to enter the Atlanta market soon. Additionally, Serve has strengthened its balance sheet with $91.5 million in new capital, ending the quarter with a record $198 million in cash.

Key highlights from the quarter include a 75% increase in delivery volume and a 110% growth in the number of households served, now totaling over 320,000. Serve also expanded its merchant partnerships by 50% quarter-over-quarter, reaching over 1,500 partners. The company is also focusing on monetizing its software and data platform, with new customers expected to generate recurring revenue.

Looking ahead, Serve Robotics remains optimistic about its growth trajectory, maintaining its projection of an annualized revenue run-rate of $60-$80 million once its fleet of 2,000 robots is fully deployed by 2026. The company anticipates further fleet deployment acceleration in the second half of the year and projects significant revenue growth in the upcoming quarter.