Jamaica’s outlook revised to stable by Fitch after hurricane
Investing.com -- Serve Robotics Inc. (NASDAQ:SERV) reported a wider third-quarter loss despite tripling its revenue, sending shares down 4.2% in after-hours trading Wednesday.
The autonomous sidewalk delivery company posted a third-quarter loss of -$0.40 per share, deteriorating from -$0.24 in the same period last year. Revenue surged 209% YoY to $687,000, up from $222,000 in the third quarter of 2024. The company also reported a 66% sequential increase in delivery volume compared to the second quarter.
"In Q3, our team once again delivered on our promises. Significantly, we’re on track to achieve our goal of deploying 2,000 robots before the end of the year," said Dr. Ali Kashani, Serve’s co-founder and CEO.
Serve Robotics maintained its full-year 2025 revenue guidance of over $2.5 million and indicated it expects approximately 10x revenue growth in 2026, though detailed guidance for next year won’t be provided until early 2026.
The company highlighted its expansion into Chicago, bringing its service area to a population of over 3 million across the United States. Serve also announced a new multi-year strategic partnership with DoorDash to roll out deliveries nationwide and now serves over 3,600 restaurants.
Fleet revenues increased 31% sequentially to $433,000, including a 120% increase in branding revenues. The company ended the quarter with $210 million in liquidity and subsequently raised an additional $100 million through a registered direct share offering in October.
Serve Robotics expects to deploy its 2,000th robot by mid-December 2025, ahead of its previously announced schedule.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.