Serve Robotics Cuts 2026 Revenue Outlook to $9–10 Million in August
Key Facts
On August 6, Serve Robotics cut its 2026 revenue outlook to a range of $9 million to $10 million, saying the revision reflected lower Uber Eats delivery volumes and the removal of demand it had expected in the second half of the year. The announcement came with second-quarter results, putting the annual revenue trajectory under pressure from a decline in one of the demand drivers on which the company had relied. In the same filing, the company cut its non-GAAP operating expense outlook to $140–150 million, from $160–170 million previously. Serve said the new expense outlook was an “improvement” on its previous estimate, alongside the revenue outlook cut. The revision highlights the effect of order volumes in its Uber Eats partnership on the company’s estimates for the rest of the year.
Second-quarter results showed revenue of $3.238 million, up from $642,000 in the same period of 2025, while first-half revenue totaled $6.222 million. Revenue in the first quarter was $2.984 million, meaning second-quarter revenue increased from the previous quarter. But the company recorded a gross loss of $8.779 million in the second quarter. Net loss was also $64.1 million, compared with $20.9 million in the second quarter of 2025. The figures show the net loss widening alongside annual revenue growth, while the revision to the annual outlook was tied to expected demand through Uber Eats.
According to the company, the average number of active robots per day was 792 in the second quarter, compared with 812 in the first quarter and 160 in the second quarter of 2025. Serve defines an active robot as one that completed deliveries during the period, so the measure reflects the number of robots that actually participated in deliveries under the company’s definition. The reading fell from the first quarter but remained above its level a year earlier. On partnerships, Serve said revenue from DoorDash rose about 50% in the second quarter compared with the first quarter, exceeding its expectations. That growth at DoorDash provides another channel alongside the Uber Eats partnership, which the company linked to its cut in the annual revenue outlook.
The company said recurring revenue accounted for more than half of its total revenue in the second quarter, while advertising represented about half of food delivery revenue. These ratios highlight a mix of income sources within the company’s business, while the annual outlook remains tied to delivery volumes through Uber Eats. On liquidity, Serve said cash and marketable securities totaled $240.4 million on June 30, 2026. But cash used in operating activities totaled $84.7 million in the first half, compared with $25.4 million in the same period of 2025. The reported liquidity provides a substantial cash balance, while the operating cash flow comparison shows higher cash use in the first six months of the year.
Serve Robotics shares closed at $3.02 on October 28, according to available EL7 data. The price came after the outlook cut announced in August, while the information provided did not include further details on the stock’s movement during the October 28 session. Markets are awaiting the company’s next disclosure of third-quarter results, scheduled for November 5, 2026. Serve scheduled the results announcement and an investor call for 5:00 p.m. Eastern Time. The new quarterly results will show the company’s performance after it revised its annual outlook and cut its operating expense estimate.