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DALLAS - Serve Robotics Inc. (NASDAQ: SERV), an autonomous sidewalk delivery company with a market capitalization of $334 million and strong balance sheet fundamentals, has launched its robotic delivery service in the Dallas-Fort Worth metro area, marking a significant step in its expansion plans. With the deployment of its AI-powered robots in collaboration with Uber Eats, the delivery platform of Uber Technologies Inc. (NYSE: UBER), Serve aims to reach over 22,000 new households in the Uptown neighborhoods of Pearl, State Thomas, West Village, and South Routh. According to InvestingPro data, the company has demonstrated remarkable revenue growth of 773% in the last twelve months.
Customers in these areas can now receive their meals from participating Uber Eats merchants, including local favorites like Ka Thai, through Serve’s autonomous robots. The service also extends to Dallas as part of Serve’s national delivery partnership with Shake Shack.
Dr. Ali Kashani, CEO and co-founder of Serve Robotics, expressed excitement about bringing their delivery solution to one of the fastest-growing metro areas in the U.S., which has a strong sidewalk infrastructure and is receptive to innovation. The expansion is expected to create new jobs in operations and maintenance, contributing to the local economy.
Derek Ho, GM of Ka Thai, welcomed the partnership, highlighting the opportunity to reach more customers with their offerings. Megan Jensen, Head of Autonomous Delivery Operations at Uber, emphasized the convenience this technology brings to food delivery.
Serve’s Dallas-Fort Worth launch follows recent expansions in Los Angeles and Miami, with more U.S. markets anticipated throughout 2025. The company, which spun off from Uber in 2021, has completed tens of thousands of deliveries and has signed agreements to deploy up to 2,000 robots on the Uber Eats platform across multiple U.S. markets.
This information is based on a press release statement from Serve Robotics. For deeper insights into SERV’s financial health and growth prospects, InvestingPro offers comprehensive analysis with 15+ additional expert tips and detailed metrics in its Pro Research Report, helping investors make informed decisions about this emerging player in the autonomous delivery space.
In other recent news, Serve Robotics Inc. reported its Q4 2024 earnings, revealing a larger-than-expected loss, with an earnings per share (EPS) of -$0.23, which fell short of analyst expectations. The company also reported a revenue of $170,000 for the quarter, slightly below projections. Despite these setbacks, Serve Robotics demonstrated significant year-over-year growth, with annual revenue reaching $1.8 million, marking a 700% increase. The company’s software services played a substantial role, contributing $1.2 million, while delivery and branding revenue rose 435% to $627,000. Serve Robotics is planning to deploy 2,000 robots by the end of 2025, with expansion into Dallas and Atlanta slated for Q2 2025. The company aims for annualized revenue of $60-$80 million by 2026. Analyst firms have not provided any recent upgrades or downgrades for the company. Serve Robotics continues to focus on expanding its robot fleet and geographic reach, with plans to achieve significant cost reductions in future robot batches.
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