Serve Robotics Q2 revenue jumps less than expected; cuts FY outlook citing lower Uber Eats volume

Serve Robotics

06/08/2026 21:51

Overview
US autonomous robotics firm's Q2 revenue rose 404% yr/yr but missed analyst expectations
Company lowered full-year 2026 revenue outlook due to weaker Uber Eats delivery volume
Ended Q2 with over $240 mln in cash and marketable securities

Outlook
Serve Robotics cuts 2026 revenue outlook to $9 mln-$10 mln, citing lower Uber Eats volume
Company lowers FY2026 non-GAAP operating expense forecast to $140 mln-$150 mln from $160 mln-$170 mln

Result Drivers
REVENUE DIVERSIFICATION - Co said revenue growth was driven by strong triple-digit increases across delivery, branding, and software services
HIGHER-MARGIN RECURRING REVENUE - Co said improved gross margin was due to higher share of recurring revenue, which made up over 50% of total revenue
DELIVERY PARTNER ACCELERATION - Revenue from DoorDash partnership grew nearly 50% sequentially and exceeded expectations

Company press release: ID:nGNX7LLdzQ

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Miss
$3.24 mln
$3.49 mln (6 Analysts)
Q2 Net Loss
 
$64.13 mln
 
Q2 Income from Operations
 
-$66.07 mln
 
Q2 Loss Per Basic Share
 
$0.80
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the it services & consulting peer group is "buy"
Wall Street's median 12-month price target for Serve Robotics Inc is $16.60, about 193.3% above its August 5 closing price of $5.66

Reuters Recommended Reads
Aug 5 - DoorDash projects strong growth as delivery demand holds firm
Aug 5 - Uber Q2 revenue slightly misses estimates
Aug 5 - Amazon's Zoox to start paid robotaxi rides in Vegas next week

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)