Business
Serve Robotics Announces First Quarter 2025 Results
Successfully built and deployed 250 new third-generation robots, enhancing operational scale and efficiencyContinued geographic expansion into Miami and
About this update from Serve Robotics Inc.
[{"type":"text","content":"Successfully built and deployed 250 new third-generation robots, enhancing operational scale and efficiencyContinued geographic expansion into Miami and Dallas metros; Atlanta launch on trackFirst quarter revenue of $440 thousand, a 150% increase versus Q4 2024Unlocking the value of Serve’s software and data platform; recurring revenue generation expected in Q2Strengthened balance sheet with $91.5 million in new capital, ending the quarter with a record $198 million cash position SAN FRANCISCO, May 08, 2025 (GLOBE NEWSWIRE) -- Serve Robotics Inc. (the “Company” or “Serve”) (Nasdaq: SERV), a leading autonomous sidewalk delivery company, today announced financial results for the first quarter ended March 31, 2025. “We had a strong start to the year, meeting our key Q1 objectives—including the successful build of 250 new third-generation robots and the launch of new markets,” said Dr. Ali Kashani, Serve Robotics' Co-founder and CEO. “With this momentum, we remain on track to deploy 2,000 robots by year-end. Our ability to maintain high delivery quality while rapidly expanding delivery volume, geographic reach, and merchant partnerships reflects our team's relentless focus and execution.” Business Highlights Continued Fleet Growth: Successfully built over 250 new third-generation robots by the end of Q1. Daily supply hours increased by over 40% compared to Q4 2024 as the new robots gradually deployed. Continued Volume Growth: During the first quarter, delivery volume increased over 75% between the first and last weeks of the quarter, driven by increased capacity and utilization. Growth achieved while maintaining high delivery quality and extending our track record of up to 99.8% average delivery completion. Expanded Reach: Launched two new metros since the start of the year, Miami and Dallas, and significantly expanded our footprint in the Los Angeles market. Currently serving over 320,000 households around the country, a 110% increase since December 2024. More Partners and Merchants: Expanded partnerships to a total of over 1,500 merchants today, which represents a 50% increase quarter-over-quarter and a 5x increase year-over-year. Software and Data Platform: Formalized efforts to monetize Serve’s data and software platform, to be led by newly appointed VP, Scott Wagoner. Key new customers, including a top-tier European automaker a...