Serve Robotics Q1 Revenue Triples Sequentially to $3.0 Million; Expands to 44 Cities
Serve Robotics reported Q1 revenue of $3.0 million, up 238% sequentially and 578% year-over-year, driven by fleet and software services growth. The Diligent Robotics acquisition expanded operations to 44 cities in 14 states, boosting software revenue to one-third of sales and recurring revenue to nearly half.
1. Q1 Financial Results
Serve reported Q1 revenue of $3.0 million, reflecting sequential growth of 238% and 578% year-over-year. Software services contributed $1.026 million, representing 34% of sales, while fleet services generated $1.958 million; gross margins improved on increased recurring and per-robot revenues, with liquidity of $197.4 million.
2. Acquisition and Market Expansion
The acquisition of Diligent Robotics extended Serve's platform into healthcare, adding indoor robotic deployments and hospital partnerships. Combined operations now span 44 cities across 14 states, with a pipeline of new market launches and hospital network integrations driving future growth.
3. Operational Metrics and Platform Growth
The company now operates approximately 2,000 robots, up from 812 daily active robots in Q1 and achieving 10,295 daily supply hours. Cumulative deliveries approach 2 million across indoor and outdoor environments, signaling maturity and scale in the autonomy platform.
4. Outlook and Guidance
Serve reaffirmed full-year 2026 revenue guidance of $26 million alongside non-GAAP operating expenses of $160–170 million. Management plans to increase revenue per robot and operating leverage, aiming to build a durable recurring revenue base while managing cash burn.