Serve Robotics Inc (SERV)
NASDAQ:SERV
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Serve Robotics Inc
(NASDAQ:SERV)
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Rating:46Neutral
Price Target:
$7.50
▼(-21.63% Downside)
Action:Reiterated
Date:06/06/26
The score is held down primarily by heavy losses, negative gross margins, and substantial cash burn despite rapid revenue growth, with bearish technicals reinforcing downside risk. A strong balance sheet with low leverage and ample cash, along with reiterated FY2026 guidance and scaling progress, provide partial support but do not offset the current profitability and unit-economics challenges.
Positive Factors
Strong balance sheet
Very low leverage and substantial equity provide durable financial flexibility. With minimal debt the company can fund continued fleet operations, integrations and near-term investment without immediate refinancing pressure, lengthening runway for execution of monetization plans.
Negative Factors
Deep negative gross margins
Extremely negative gross margins indicate current fleet economics do not cover direct operating costs. This structural unit‑economics gap must be closed via higher revenue per robot or materially lower operating cost per delivery, otherwise scaling will exacerbate losses and undermine long‑term profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong balance sheet
Very low leverage and substantial equity provide durable financial flexibility. With minimal debt the company can fund continued fleet operations, integrations and near-term investment without immediate refinancing pressure, lengthening runway for execution of monetization plans.
Read all positive factors
Serve Robotics Inc (SERV) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$599.64M
Dividend YieldN/A
Average Volume (3M)4.67M
Price to Earnings (P/E)―
Beta (1Y)0.79
Revenue Growth297.71%
EPS Growth-96.36%
CountryUS
Employees120
SectorIndustrials
Sector Strength72
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)-2.01
Shares Outstanding77,373,300
10 Day Avg. Volume6,136,107
30 Day Avg. Volume4,665,869
Financial Highlights & Ratios
PEG Ratio-0.12
Price to Book (P/B)1.84
Price to Sales (P/S)243.87
P/FCF Ratio-5.50
Enterprise Value/Market Cap0.97
Enterprise Value/Revenue111.74
Enterprise Value/Gross Profit-25.33
Enterprise Value/Ebitda-4.40
Forecast
1Y Price Target
$18.80Price Target Upside96.45% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)-2.49
Revenue Forecast (FY)$26.39M
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...
How the Company Makes Money
Serve Robotics makes money by providing autonomous delivery services and related technology/operations to businesses that need last-mile delivery. Its revenue model generally consists of (1) fees tied to completed deliveries and/or service arrange...
Serve Robotics Inc Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 18, 2026
Earnings Call Sentiment Neutral
The call presents a mixed but constructive picture: the company delivered dramatic top-line growth and clear operational scale (large YoY and sequential revenue increases, rapid fleet expansion, positive software margins, recurring revenue growth and strong cash reserves). At the same time, Serve remains in an investment phase with substantial GAAP losses, a deeply negative gross margin driven by fleet economics, high operating expenses, and near-term moderation in deployment while the company focuses on converting capacity into revenue. Management reiterated $26M 2026 revenue guidance, emphasized roadmap to improve revenue per robot and margins, and highlighted strong safety and integration progress.Positive Updates
Strong Q1 Revenue Growth
Total Q1 revenue was approximately $3.0M, up ~578% year-over-year and ~238% sequentially (CEO described this as nearly 7x YoY and ~3.5x sequential).
Negative Updates
Large GAAP Net Loss and Continued Cash Burn
GAAP net loss was $49M (−$0.65 per share) and non-GAAP net loss was $38M (−$0.50 per share). Net cash used in operating activities was $41.4M in Q1.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Q1 Revenue Growth
Total Q1 revenue was approximately $3.0M, up ~578% year-over-year and ~238% sequentially (CEO described this as nearly 7x YoY and ~3.5x sequential).
Read all positive updates
Company Guidance
Serve reiterated full‑year 2026 revenue guidance of $26.0 million and maintained non‑GAAP operating expense guidance of $160–$170 million; in Q1 the company reported nearly $3.0 million of revenue (fleet ≈ $2.0M, software ≈ $1.0M), roughly 578% year‑over‑year and 238% sequential growth (Ali characterized this as ~7x YoY and ~3.5x sequential), and on a pro forma basis including Diligent revenue was +30% YoY and +28% sequential; roughly $1.4M of Q1 revenue was recurring (just under half of total), daily active robots averaged 812 (≈+48% seq) and daily supply hours averaged >10,000 (≈+54% seq) with the deployed fleet ~7x larger YoY (daily actives and supply hours up ~10x and ~13x YoY respectively), the company finished Q1 with $197.4M of cash and marketable securities, and flagged near‑term operational priorities (no additional sidewalk robot deployments in H1 beyond the ~2,000 in the fleet, slower Q2 growth as they focus on utilization/partner integrations) while reporting GAAP gross loss ≈$9M (gross margin −302%), GAAP operating expense $42.8M (non‑GAAP OPEX ≈$31.8M), GAAP net loss $49M (−$0.65/share), non‑GAAP net loss $38M (−$0.50/share), $41.4M net cash used in operations, $19.6M of investing outflows and ~$1.4M of capex.Serve Robotics Inc Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
66
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.19M | 2.65M | 1.81M | 207.54K | 107.82K | 0.00 |
| Gross Profit | -22.91M | -15.38M | -75.16K | -1.52M | -1.04M | -42.47K |
| EBITDA | -131.90M | -104.56M | -37.98M | -17.39M | -20.83M | -21.62M |
| Net Income | -137.15M | -101.36M | -39.19M | -24.81M | -21.86M | -21.67M |
Balance Sheet | ||||||
| Total Assets | 340.80M | 367.75M | 139.60M | 2.80M | 8.54M | 8.66M |
| Cash, Cash Equivalents and Short-Term Investments | 187.48M | 233.41M | 123.27M | 6.76K | 2.72M | 7.97M |
| Total Debt | 4.82M | 5.25M | 2.34M | 4.37M | 7.48M | 0.00 |
| Total Liabilities | 23.01M | 17.01M | 7.92M | 6.84M | 21.00M | 336.31K |
| Stockholders Equity | 317.79M | 350.74M | 131.68M | -4.03M | -12.45M | 8.32M |
Cash Flow | ||||||
| Free Cash Flow | -147.92M | -117.57M | -31.79M | -15.98M | -25.05M | -10.87M |
| Operating Cash Flow | -112.20M | -80.24M | -21.54M | -15.97M | -21.40M | -10.71M |
| Investing Cash Flow | -214.31M | -198.00M | -10.32M | -4.91K | -4.06M | -258.73K |
| Financing Cash Flow | 175.87M | 261.21M | 155.12M | 13.27M | 20.21M | 18.93M |
Serve Robotics Inc Technical Analysis
Negative
9.57
Price Trends
8.87
Negative
9.74
Negative
10.83
Negative
Market Momentum
-0.15
Positive
37.20
Neutral
9.42
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SERV, the sentiment is Negative. The current price of 9.57 is above the 20-day moving average (MA) of 8.69, above the 50-day MA of 8.87, and below the 200-day MA of 10.83, indicating a bearish trend. The MACD of -0.15 indicates Positive momentum. The RSI at 37.20 is Neutral, neither overbought nor oversold. The STOCH value of 9.42 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SERV.
Serve Robotics Inc Risk Analysis
Serve Robotics Inc disclosed 62 risk factors in its most recent earnings report. Serve Robotics Inc reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Serve Robotics Inc Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $26.53B | -1,113.03 | -0.94% | ― | 20.81% | 27.33% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | $17.25M | 2.38 | 21.29% | ― | 14.06% | -76.57% | |
58 Neutral | $38.52M | -10.58 | -14.58% | ― | -36.20% | -4349.51% | |
54 Neutral | $12.38B | -14.79 | -39.64% | ― | ― | 7.22% | |
46 Neutral | $599.64M | -4.30 | -47.31% | ― | 297.71% | -96.36% |
* Industrials Sector Average
SERV
Serve Robotics Inc
7.75
-4.82
-38.35%
CVV
CVD Equipment
5.55
2.45
79.03%
GTEC
Greenland Technologies Holding
0.65
-1.44
-68.95%
SYM
Symbotic
44.02
13.78
45.57%
AUR
Aurora Innovation
6.31
0.43
7.31%
RR
Richtech Robotics Inc. Class B
2.41
0.02
1.05%
Serve Robotics Inc Corporate Events
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Serve Robotics Completes Acquisition of Diligent Robotics Subsidiary
Positive
May 11, 2026
Serve Robotics Inc., a developer of autonomous robotic technologies, has strengthened its position in automation by acquiring Diligent Robotics, Inc., which now operates as a wholly owned subsidiary. The transaction, governed by a merger agreement...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Serve Robotics Reports Surging Q1 Growth and Expansion
Positive
May 7, 2026
Serve Robotics reported first-quarter 2026 results on May 7, 2026, highlighting a sharp acceleration in growth and scale as it integrates its sidewalk delivery and newly acquired healthcare robotics operations. Revenue for the quarter ended March ...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Serve Robotics Reports Surging 2025 Revenue and Fleet Expansion
Positive
Mar 11, 2026
Serve Robotics Inc., a Nasdaq-listed autonomous sidewalk delivery specialist, reported on March 11, 2026 that it exceeded expectations for the fourth quarter and full year 2025, with Q4 revenue rising about 400% year on year to $0.9 million and fu...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.