Quarterly ResultMay 7, 2026, 04:04 PM
Serve Robotics Q1 Revenue $3.0M, up 578% YoY; Acquires Diligent Robotics
AI Summary
Serve Robotics Inc. announced strong financial results for the first quarter ended March 31, 2026, with revenue scaling ahead of plan to $3.0 million, representing a 578% year-over-year increase. The company expanded its operating footprint to 44 cities across 14 states and improved its gross margin, supported by growing software revenue. Serve also completed the acquisition of Diligent Robotics, entering the healthcare robotics vertical and establishing a multi-domain autonomy platform. Despite significant revenue growth, the company reported a net loss of $49.0 million for the quarter.
Key Highlights
- Q1 revenue reached $3.0 million, a 578% increase year-over-year and 238% sequentially.
- Acquired Diligent Robotics, expanding into healthcare robotics and establishing a multi-domain platform.
- Operating footprint expanded to 44 cities across 14 states.
- Gross margin improved over the prior quarter, driven by growing software revenue.
- Software services contributed approximately one-third of Q1 revenue.
- Approximately 2,000 robots deployed, with focus shifting to increasing revenue per robot.
- Reaffirmed 2026 full-year revenue guidance of approximately $26 million.
- Maintained a strong liquidity position of $197.4 million as of March 31, 2026.