Serve Robotics Inc. reported a significant increase in delivery volume, with nearly 80% growth quarter over quarter. Revenue for the second quarter reached $642 thousand, a 46% increase from Q1. Serve maintained a strong liquidity position of $183 million and announced plans to launch in the Chicago market soon.

The company’s Co-founder and CEO, Dr. Ali Kashani, highlighted Serve’s progress in expanding into new markets and enhancing operational efficiency. CFO Brian Read emphasized the company’s disciplined execution and projected annualized revenue of $60M-$80M upon full utilization of their 2,000-robot fleet.

Serve achieved continued fleet growth by delivering over 120 new robots ahead of schedule in Q2. Delivery volume increased by over 78% sequentially from Q1, and the company launched in the Atlanta market. Serve also expanded partnerships, including with Little Caesars, to become a preferred delivery partner for key merchants.

Financially, Serve saw revenue grow to $642 thousand in Q2, a 46% increase from Q1. Their strong liquidity position of $183 million is expected to support operations through 2026. Serve’s outstanding shares totaled approximately 59.3 million as of June 30, 2025.

Serve Robotics Inc. provided guidance for projected annualized revenue run-rate of $60 to $80 million and anticipated revenue growth of 170% to 215% year over year in Q3. The company plans to more than double its robot fleet in Q3 and continue scaling operations for growth through 2026.

Read more at GlobeNewswire: Serve Robotics Announces Second Quarter 2025 Results