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Serve Robotics Inc. (SERV) reported a second-quarter 2026 loss of 80 cents per share, exceeding analyst expectations of a 69-cent loss and widening from a 36-cent loss in the same quarter last year. Revenues increased 404.4% year-over-year to $3.24 million but fell short of estimates by 8.5%. Following the earnings announcement, SERV’s stock declined by 14.1% in after-hours trading.
Daily active robots averaged 792 during the quarter, up 395% from the previous year, while daily supply hours jumped 469.3% to 9,809. The company’s liquidity remains strong, with cash and equivalents of $79.11 million as of June 30, 2026. However, SERV has revised its 2026 revenue guidance down to $9-$10 million due to lower than expected delivery volumes, particularly through its Uber Eats partnership.
General and administrative expenses soared to $24.84 million from $8.08 million a year ago, contributing to a loss from operations of $66.07 million. The company plans to focus on more profitable ventures while managing overall expenses, lowering the non-GAAP operating expense outlook to $140-$150 million.
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