Serve Robotics Inc. (SERV) AI Stock Analysis

Serve Robotics Inc., formerly known as Patricia Acquisition Corp., designs, develops, and operates low-emission autonomous robots for food delivery services in the United States. Founded in 2017 and headquartered in Redwood City, California, the company builds self-driving robots designed to navigate public spaces and urban environments. By deploying autonomous delivery solutions, Serve Robotics aims to enhance delivery reliability and operational efficiency while reducing the carbon footprint compared to traditional delivery methods. The company employs 370 people and continues to expand its operational footprint and robotics technology across the food service logistics industry.

Serve Robotics grew revenue from $107,819 in FY2022 to $207,545 in FY2023, reaching $1.8M in FY2024 and $2.7M in FY2025, reflecting a 3-year revenue CAGR of 190.8%. However, profitability remains deeply negative, with gross margin at -580.2% and operating margin at -4253.8% in FY2025. Net losses widened from -$21.9M in FY2022 to -$101.4M in FY2025, alongside $45.3M in R&D expenses. For the trailing twelve months, revenue reached $7.8M with an operating margin of -2027.9% and diluted EPS of -$2.47. In the latest quarter ended June 30, 2026, quarterly revenue growth accelerated to 404.4% year-over-year.

As of June 30, 2026, Serve Robotics held $235.4M in cash and short-term investments against total debt of $9.7M, resulting in a net cash position of $225.7M. Total assets stood at $378.6M and shareholders' equity was $351.8M, supported by a current ratio of 12.83 and a debt-to-equity ratio of 0.03. In FY2025, operating cash flow was -$80.2M and capital expenditures were $37.3M, yielding free cash flow of -$117.6M. Over five years, the company's share count expanded by 1506.2%.

Serve Robotics trades at a market capitalization of $280.1M and an enterprise value of $148.4M. Its price-to-sales ratio of 35.9x stands well above the 1.5x median of its US-listed Industrials peers, while its enterprise value-to-revenue ratio sits at 19.1x. Over the past year, the stock fell 79.1%, compared to a 16.8% gain for the S&P 500 (SPY). The shares closed at $3.23 on October 16, 2026, trading 58.6% below their 200-day average and close to their 52-week low of $3.17.

Serve Robotics has 7 Strong Buy ratings and 1 Hold rating among analysts. The mean price target is $12.14, representing a 275.9% premium to its last close of $3.23. For the current fiscal year ending December 31, 2026, consensus estimates project revenue of $9.7M and EPS of -$2.11. For the next fiscal year, 2 analysts project revenue of $33.5M, representing 245.7% growth, alongside EPS of -$1.75. The company beat EPS estimates in 2 of the last 4 quarters, with its next earnings date scheduled for November 11, 2026.

This page is an AI-written research summary of Serve Robotics Inc. (SERV). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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