Serve Robotics Pauses New Sidewalk Deployments After Q1 Revenue Beat and EPS Miss

Overview

• Serve reported nearly $3.0 million in Q1 revenue, topping internal targets as EPS came in at -$0.65 and overall gross margin registered at -302%.
• Leaders will hold the sidewalk fleet at about 2,000 robots through the first half to raise output per unit and strengthen software monetization.
• The company kept its full‑year outlook for $26 million in revenue and non‑GAAP operating expenses of $160 million to $170 million, ending the quarter with $197.4 million in cash and securities.
• Software services made up roughly one‑third of quarterly revenue, with recurring revenue just under half at about $1.4 million, signaling a shift toward higher‑margin streams.
• Operational metrics improved sharply year over year as the deployed fleet grew 7x, daily active robots rose 10x, and supply hours passed 10,000 per day with more than 800 robots working daily.