Serve Robotics Inc. reported second quarter 2026 revenue of $3.24 million, missing analyst estimates despite 404% year-over-year growth. The company significantly lowered its full-year 2026 revenue outlook to a range of $9 million to $10 million, primarily due to lower than expected delivery volumes from its Uber Eats partnership.
Key Highlights
- Quarterly revenue of $3.24 million missed the consensus estimate of $3.92 million, while GAAP EPS of -$0.80 was wider than the expected -$0.69 loss.
- Full-year 2026 revenue guidance was cut to $9–$10 million, a substantial reduction from the previously anticipated $26 million target.
- Uber Eats partnership performance declined during the quarter, leading management to remove projected demand for the second half of 2026 from its outlook.
- Revenue diversification showed progress as advertising reached nearly 50% of food delivery revenue and recurring revenue exceeded 50% of the total mix.
- The company maintains a strong liquidity position with $240.4 million in cash and marketable securities to fund its pivot toward high-return opportunities.