Serve Robotics Revenue Soars in Q1 as Company Pauses H1 Fleet Expansion

Overview

• Serve Robotics, which reported results Thursday, posted Q1 revenue of $3.0 million up 578% year over year as EPS came in at -$0.65 versus a -$0.51 estimate.
• Management will hold the sidewalk robot fleet near 2,000 units through the first half of 2026 to boost output per robot with merchant activations and delivery‑platform integrations in focus.
• The company kept its 2026 revenue outlook at $26 million as software contributed about one‑third of Q1 sales and recurring revenue approached $1.4 million.
• Profit pressure stayed high with an overall gross margin of -302% and a $49 million net loss in Q1, while cash and marketable securities totaled $197.4 million.
• Serve expanded into hospital deliveries through Diligent Robotics, bringing operations to 44 cities in 14 states and providing over 10,000 robot supply hours each day with more than 800 robots active.