Serve Robotics Inc. (SERV Quick QuoteSERV - Free Report) is set to release its third-quarter 2025 results on Nov. 12, 2025, after the market close. The autonomous sidewalk delivery pioneer enters the quarter with solid operational momentum, continued fleet expansion and deep technology investments following two strategic acquisitions. While revenue growth is expected to accelerate, profitability could remain constrained as the company channels capital toward scaling and AI integration.

In the last reported quarter, Serve Robotics delivered robust operational progress in the second quarter of 2025, marking a pivotal step in its national scaling plan. Revenues climbed 46% sequentially to $642,000, driven by record delivery volume and expanding fleet utilization. The company deployed over 120 third-generation robots ahead of schedule, bringing its fleet to more than 400 units, and reported nearly 80% quarter-over-quarter growth in delivery volume amid expansion into Atlanta and extended coverage in Los Angeles and Miami. Serve Robotics’ partnerships deepened with Uber Eats and new national client Little Caesars, while a pilot in Doha, Qatar, marked its first international deployment. However, higher R&D and scaling investments led to a GAAP net loss of $20.9 million and adjusted EBITDA loss of $14.9 million, reflecting continued investment in autonomy, AI infrastructure, and fleet manufacturing. The company ended the quarter with a strong liquidity position of $183 million, funding operations through 2026.

Serve Robotics surpassed earnings estimates in one of the trailing four quarters, missed on two occasions and met expectations in one, with an average negative surprise of 13.4%, as shown below.

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How Are Estimates Placed for Serve Robotics Stock?

The Zacks Consensus Estimate for the third-quarter earnings per share has remained unchanged at a loss of 37 cents over the past 30 days. The estimated figure indicates a wider loss from the year-ago reported loss of 20 cents. The consensus mark for revenues is pegged at $0.69 million, suggesting a 211.4% year-over-year increase.

For 2025, Serve Robotics is expected to register an 84.3% increase from a year ago in revenues. Its bottom line is expected to witness a wider loss of $1.30 per share compared with 67 cents a year ago. Below is what to expect in the third quarter for SERV stock.

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Key Factors Likely to Influence Serve Robotics’ Q3 2025 Results

Serve Robotics expects third-quarter revenue to be between $600,000 and $700,000, implying 170%–215% year-over-year growth. Several operational and strategic factors are expected to drive this growth trajectory.

Fleet Expansion and Market Growth of SERV

Serve Robotics continues to scale aggressively toward its goal of 2,000 deployed robots by year-end 2025, having already crossed the 1,000-robot milestone in early October. The company deployed more than 400 robots by midyear and expects to double the fleet in the third quarter, enabling higher delivery volumes across major markets. This scaling aligns with its “scaling with precision” strategy, designed to drive economies of scale and platform-wide efficiency gains.

In the second quarter, Serve Robotics’ delivery volume surged nearly 80% sequentially, supported by expanded service hours and utilization. Third-quarter topline should continue to benefit from that momentum as Serve Robotics expands into Chicago and an additional East Coast metro, complementing existing hubs in Los Angeles, Miami and Atlanta.

Serve Robotics’ Expanding Merchant and Partner Ecosystem

The company’s growing ecosystem of over 2,500 merchant partners is another catalyst for revenue growth. Serve Robotics’ entry into national partnerships with Little Caesars, Shake Shack, and Uber Eats has strengthened its foothold in high-frequency delivery categories like pizza and quick-service restaurants. Its Gen-3 robots—custom-designed with larger storage and improved thermal control—are optimized for multi-item food deliveries, helping attract new enterprise clients.

Serve Robotics is also exploring global opportunities, as demonstrated by its successful pilot in Doha, Qatar, which tested its Robot-as-a-Service model internationally. These moves not only enhance revenue diversity but also expand Serve Robotics’ data footprint for its AI autonomy models.

Revenue Mix Transition

While delivery-related revenue is expected to rise sharply, Serve Robotics guided for a temporary dip in software and branding revenue due to the conclusion of its one-time software contract with Magna. This moderation is consistent with the company’s long-term plan to shift toward recurring software revenues and fleet-based service growth. Management views this as a transitional phase before software monetization gains scale through its data and teleoperation platforms.

Meanwhile, Serve Robotics’ near-term profitability remains weighed down by high R&D spending and integration costs from its recent acquisitions. However, margin trends are gradually improving as the company drives efficiency gains across its fleet and technology stack.

Serve Robotics’ Technology Integration and AI Investment

The third quarter marks a key transition period following Serve Robotics’ acquisitions of Vayu Robotics and Voysys. The Vayu Robotics deal, completed in August, brings AI foundation model-based autonomy, combining real and simulated data to enable safer and faster navigation across urban environments. This is expected to unlock stronger operational safety and reduced intervention rates—key drivers for long-term margin expansion.

The Voysys acquisition, completed earlier in the year, adds ultra-low-latency teleoperation and video streaming capabilities, enhancing connectivity and reliability for Serve Robotics’ Level-4 autonomous systems. While both acquisitions elevate near-term R&D and integration costs, they bolster Serve Robotics’ recurring software monetization opportunities and autonomy performance, paving the way for stronger operating leverage in 2026.

Operational Efficiency and Cost Leverage

Serve Robotics continues to improve its core efficiency metrics. In the second quarter, the company reported a 20% increase in daily operating hours per robot and a 25% reduction in intervention rates, signaling better uptime and reliability. These productivity improvements are crucial as Serve Robotics scales to 2,000 robots, since higher utilization reduces cost per delivery and spreads fixed platform expenses across a broader operational base.

However, margins are expected to remain pressured by elevated operating expenses. Second-quarter GAAP OpEx stood at $19.8 million, driven by heavy R&D outlays of $9.1 million toward autonomy, hardware optimization and market expansion. Adjusted EBITDA loss was $14.9 million, and while management anticipates gradual efficiency gains, these investments are essential to build the infrastructure supporting Serve Robotics’ AI and fleet scale-up.

Guidance and Strategic Outlook

For the third quarter, Serve Robotics reaffirmed its guidance of $600,000–$700,000 in revenues and reiterated its long-term annualized revenue run-rate target of $60–$80 million once its 2,000-robot fleet reaches full utilization by 2026. The company ended the second quarter with $183 million in liquidity, sufficient to self-fund operations and expansion through 2026.

Serve Robotics’ focus in the coming quarters will center on completing its national deployment, optimizing AI-driven fleet performance and monetizing its technology stack through software, data and teleoperation platforms. While near-term losses may persist due to scaling costs, Serve Robotics’ acquisitions and execution discipline strengthen its path toward sustainable, high-margin growth.

What the Zacks Model Unveils for SERV Stock

Our proven model does not conclusively predict an earnings beat for Serve Robotics for the quarter to be reported. That is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) for this to happen. This is not the case here, as you will see below.

Earnings ESP: SERV has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: The company currently carries a Zacks Rank #2.

You can see the complete list of today’s Zacks #1 Rank stocks here.

SERV Stock’s Price Performance

Serve Robotics stock has gained 23.5% over the past six-month period, outperforming the Zacks Computers - IT Services industry and the S&P 500 index but lagging the Zacks Computer & Technology sector.

SERV stock (as of Nov. 10, 2025) is now trading at a 56.3% discount to its 52-week high of $24.35 and a premium of 128.5% to its 52-week low of $4.66.

SERV Stock’s Performance

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SERV Stock’s Valuation

In terms of the forward 12-month price/sales (P/S), SERV stock is currently trading at a premium to its industry at 29X.

SERV’s P/S Ratio (Forward 12-Month) vs. Industry

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Competitive Landscape of Serve Robotics

Serve Robotics faces growing competition in the U.S. autonomous mobility space from Symbotic Inc. (SYM Quick QuoteSYM - Free Report) and Aurora Innovation, Inc. (AUR Quick QuoteAUR - Free Report) .

Symbotic leads in warehouse automation with AI-driven robotics that streamline logistics for major retailers, establishing a benchmark for operational efficiency that parallels Serve Robotics’ own automation goals. Aurora Innovation focuses on autonomous trucking and freight transport, showcasing sophisticated perception and safety systems that highlight the scalability of autonomous logistics across distance. 

While these companies specialize in distinct robotics applications, Serve Robotics’ combination of AI foundation model-based autonomy, Voysys teleoperation, and its nationwide 2,000-robot deployment target positions it uniquely as the leading U.S. public player in autonomous sidewalk delivery.

Why SERV Stock Is a Buy for Now?

Investors may consider buying Serve Robotics ahead of its third-quarter 2025 results, given its accelerating growth and expanding competitive edge in autonomous delivery. The company is expected to post more than 200% year-over-year revenue growth, driven by rapid fleet expansion past 1,000 robots and deepening partnerships with Uber Eats, Little Caesars and Shake Shack. Its acquisitions of Vayu Robotics and Voysys strengthen its AI-driven autonomy and teleoperation capabilities, setting the stage for software-led revenue growth and long-term margin expansion. 

Backed by $183 million in liquidity, Serve Robotics is fully funded through 2026, providing a clear runway for scaling without dilution. With the stock trading more than 50% below its 52-week high, SERV presents a compelling early-mover opportunity in AI-powered logistics as it transitions toward operational leverage and sustainable growth in 2026.