Serve Robotics Misses Q2 Revenue, Slashes 2026 Outlook on Weak Uber Eats Volume
SERV sits 22% above its 52-week low of $4.32.
Summary
Serve Robotics reported Q2 revenue of $3.24M, missing the $3.49M consensus, and slashed its full-year 2026 revenue guidance to $9M-$10M from a prior implied run-rate above $12M, citing lower Uber Eats delivery volume. The net loss widened to $64.13M, or $0.80 per share, though the company ended the quarter with over $240M in cash. This follows a series of capital-raising moves in May, including a new $150M ATM program, and comes amid ongoing cash burn and material weaknesses in financial controls flagged in the last 10-Q. The guidance cut signals that the core Uber Eats partnership is underperforming expectations, even as DoorDash revenue grew nearly 50% sequentially. With the stock already down sharply from its $16.60 median analyst target, the lowered outlook raises questions about the pace of autonomous delivery adoption.
At the time of this announcement, SERV was trading at $5.25 on NASDAQ in the Technology sector, with a market capitalization of approximately $439.5M. The 52-week trading range was $4.32 to $18.64. This news item was assessed with negative market sentiment and an importance score of 9 out of 10. Source: Reuters.