Serve Robotics (NASDAQ:SERV) Issues Quarterly Earnings Results

Serve Robotics (NASDAQ:SERV) announced its quarterly earnings data on Wednesday. The company reported ($0.46) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.03, Zacks reports. Serve Robotics had a negative return on equity of 38.52% and a negative net margin of 4,121.58%.The company had revenue of $0.88 million during the quarter, compared to the consensus estimate of $0.77 million.

Here are the key takeaways from Serve Robotics’ conference call:

• Serve activated a fleet of 2,000 robots across 20 cities (nearly 1,000 deployed in Q4) while maintaining a 99.8% delivery completion rate, which management frames as proof the technology works at scale.
• Q4 revenue was $0.9M (?400% YoY) and full-year 2025 revenue was $2.7M, and management raised 2026 revenue guidance to approximately $26M, citing acquisitions and expanded deployments as drivers.
• Serve completed four strategic acquisitions (Phantom Auto, Vayu, Diligent Robotics, Weebo) to build a cross-domain data and autonomy platform that the company says strengthens its “flywheel” by adding indoor hospital data, connectivity, model-building, and partner channels.
• Despite top-line growth, GAAP operating expenses were $34.3M in Q4 and adjusted EBITDA was negative about $28M; management projects 2026 non?GAAP operating expenses of $160M–$170M, signaling continued heavy spending and cash burn even with $260M in cash and marketable securities.
• Monetization is diversifying — advertising/branding grew 50% YoY in Q4, software/data revenue began in Q4 with ~70% of software recurring, and Diligent’s hospital contracts are expected to contribute roughly $7M in 2026 recurring revenue.

Serve Robotics Price Performance

Shares of SERV traded down $0.92 during mid-day trading on Thursday, reaching $9.73. The company had a trading volume of 2,188,731 shares, compared to its average volume of 5,911,323. The company has a market capitalization of $724.69 million, a P/E ratio of -6.49 and a beta of 0.90. Serve Robotics has a twelve month low of $4.66 and a twelve month high of $18.64. The company’s 50-day moving average is $11.35 and its 200-day moving average is $11.66.

Wall Street Analyst Weigh In

SERV has been the topic of a number of research reports. Oppenheimer assumed coverage on Serve Robotics in a research report on Thursday, December 18th. They set an “outperform” rating and a $20.00 price objective on the stock. LADENBURG THALM/SH SH raised Serve Robotics to a “strong-buy” rating in a research report on Thursday, December 18th. Loop Capital set a $16.00 price target on shares of Serve Robotics in a research note on Wednesday, December 31st. Cantor Fitzgerald reissued an “overweight” rating on shares of Serve Robotics in a report on Monday, November 17th. Finally, Freedom Capital upgraded shares of Serve Robotics to a “strong-buy” rating in a research note on Wednesday, December 31st. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $18.80.

Key Stories Impacting Serve Robotics

Here are the key news stories impacting Serve Robotics this week:

• Positive Sentiment: Q4 results beat and management raised FY?2026 revenue guidance to $26M, which topped street expectations and helped lift sentiment. Serve Robotics Announces Fourth Quarter and Full Year 2025 Results
• Positive Sentiment: New merchant partnership: Serve launched autonomous White Castle deliveries via Uber Eats, expanding its merchant mix and consumer use cases (adds to existing DoorDash & Uber Eats relationships). Serve Robotics and White Castle Launch Autonomous Delivery via Uber Eats
• Positive Sentiment: Scale milestones: Serve says it ended 2025 with ~2,000 robots deployed across ~20 cities, 4,500+ merchant partners and completed strategic acquisitions (including Diligent Robotics) that broaden addressable markets. These operational updates support the revenue guidance path. Serve Robotics Q4 2025 Earnings Transcript
• Positive Sentiment: Market dynamics: high short interest and elevated call?option activity have amplified the price move and created short?squeeze potential after the better?than?expected report. That technical pressure can accelerate rallies. SERV Robotics Delivers Catalyst for Short-Squeeze
• Neutral Sentiment: Institutional/analyst context — several firms have recently issued bullish coverage and price targets above current levels; institutions have been adding shares, which supports liquidity but doesn’t guarantee sustained fundamentals. Serve Robotics Up 13%: NVIDIA Loves It, Analysts See 67% More Upside
• Neutral Sentiment: Management commentary and interviews (CEO earnings interview/transcript) provide color on expansion plans and new verticals (hospitals/indoor robots) but require execution to translate into material revenue. Serve Robotics CEO on White Castle Partnership & AI Expansion into Hospitals
• Negative Sentiment: Insider selling: multiple recent Form 4 filings show executives (including the CEO, COO and CFO) selling shares, which some investors view as a negative signal about near?term conviction. SEC Form 4 (CEO sale)
• Negative Sentiment: Execution & profitability concerns: critics note Q4 revenue remains small (~$0.9M) relative to fleet size and management’s $26M guidance is well below earlier implied targets — plus planned CapEx (~$25M) is roughly equal to projected 2026 revenue, raising cash?burn, dilution and execution risk. Serve Robotics: Immaterial Progress

Insiders Place Their Bets

In other Serve Robotics news, insider Anthony Armenta sold 3,432 shares of the company’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $9.38, for a total value of $32,192.16. Following the sale, the insider directly owned 544,486 shares in the company, valued at $5,107,278.68. This represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Euan Abraham sold 3,284 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $10.33, for a total value of $33,923.72. Following the transaction, the insider owned 238,412 shares of the company’s stock, valued at $2,462,795.96. This represents a 1.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 108,740 shares of company stock worth $1,245,810 over the last quarter. Corporate insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Serve Robotics

A number of hedge funds have recently made changes to their positions in the company. Quadrant Capital Group LLC bought a new position in Serve Robotics during the 4th quarter valued at about $31,000. Kestra Advisory Services LLC bought a new stake in Serve Robotics during the fourth quarter worth about $39,000. Russell Investments Group Ltd. bought a new stake in Serve Robotics during the third quarter worth about $59,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Serve Robotics during the fourth quarter worth approximately $106,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of Serve Robotics by 74.1% during the third quarter. BNP Paribas Financial Markets now owns 9,278 shares of the company’s stock worth $108,000 after buying an additional 3,950 shares in the last quarter.

About Serve Robotics

Serve Robotics develops and operates autonomous sidewalk delivery robots designed to transform last-mile logistics for restaurants, retailers and grocery brands. By combining proprietary hardware, sensor suites and dispatch software, the company enables on-demand deliveries of food, beverages and consumer goods while minimizing reliance on traditional vehicle fleets.

The core Serve robot integrates four-wheeled mobility, LiDAR and vision cameras with AI-driven navigation algorithms to detect obstacles, traverse urban sidewalks and interact safely with pedestrians.