Serve Robotics Q1 revenue jumps helped by expansion across offerings

Serve Robotics

07/05/2026 21:49

Overview

US robotics firm's Q1 revenue rose 578% yr/yr, beating analyst expectations

Company attributed growth to expansion across offerings and Diligent Robotics acquisition

Gross margin improved over prior quarter, driven by higher software and recurring revenue

Outlook

Serve Robotics reaffirms 2026 revenue guidance of approximately $26 mln

Company expects 2026 non-GAAP operating expense of $160 mln to $170 mln

Result Drivers

PLATFORM EXPANSION - Revenue growth driven by expansion across offerings and entry into healthcare robotics via Diligent Robotics acquisition

RECURRING AND SOFTWARE REVENUE - Higher proportion of recurring and software revenue contributed to improved gross margin

INCREASED PRODUCTIVITY - Focus shifted from fleet expansion to increasing revenue per robot, supporting financial model improvement

Company press release: ID:nGNX9mLPv2

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$2.98 mln
$2.83 mln (9 Analysts)
Q1 Net Loss
$49.004 mln
Q1 EPS
-$0.65
Q1 Income from Operations
-$51.78 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", no "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 $16.00, about 67% above its May 6 closing price of $9.58

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)