Serve Robotics Reports Q2 2026 Revenue Increase Amid Stock Decline Following Forecast Revision
Serve Robotics achieved a revenue of $3.2 million in Q2 2026, a 9% sequential increase and 400% year-over-year. However, shares plummeted 11% after the company significantly cut its annual revenue forecast from $26 million to $9-10 million, reflecting investor concerns over a decline in delivery volumes from its primary partner, Uber.
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Serve Robotics reported $3.2 million in revenue for Q2 2026, marking a 9% increase from Q1 and 400% year-over-year. The company posted a non-GAAP loss of $0.59 per share, with a net loss of $64 million.
Following a revision of annual revenue estimates to $9-10 million, shares dropped 11% in after-hours trading. Significant declines in delivery volumes via Uber, ending a 17-quarter growth streak, indicate a shift in business dynamics.
Despite this, Serve maintains a cash reserve of over $240 million and plans to expand its service offerings beyond meal delivery, including laundry services and healthcare robotics. The company’s financial position remains strong, with a current ratio of 10.19, but faces execution risks with new products and increasing competition in the autonomous delivery market.
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