Serve Robotics (SERV) Investor presentation summary

Market opportunity and industry positioning

• Last-mile delivery is highly inefficient, with a $450B robotic and drone delivery opportunity projected by 2030 and a median U.S. food delivery distance of 2.5 miles typically handled by 2-ton vehicles.

• Operates the largest commercial autonomous robot fleets in the U.S., with 2,000 sidewalk robots and 100 hospital robots deployed across 44 cities and 14 states.

• Integrated with Uber Eats and DoorDash, powering delivery for over 4,500 merchants and 3.75M consumers, and partnered with 26 hospitals.

• Maintains a 99.8% delivery completion rate and exemplary safety record, with zero major incidents reported.

• Embedded in leading delivery platforms, driving over 40% average QoQ delivery growth since 2022.

Technology and product platform

• Third-generation sidewalk robots feature Level 4 autonomy, all-day battery, redundant connectivity, and a 65% reduction in unit cost compared to prior models.

• Moxi robots, acquired via Diligent Robotics, are purpose-built for hospitals, offering multi-floor navigation, mobile arm manipulation, and >18h runtime.

• The autonomy stack supports both indoor and outdoor environments, leveraging cross-domain training data and real-world operational experience.

• Hardware ecosystem includes partnerships with Magna (manufacturing), Ouster (lidar), and NVIDIA (compute platform).

• Platform enables diversified applications: food delivery, healthcare logistics, branding, advertising, and software/data monetization.

Financial performance and growth

• Achieved 578% YOY revenue growth in Q1 FY2026, with Q1 revenue of $3.0M and 2026 revenue guidance of $26M, up from $2.7M in FY2025.

• Non-GAAP operating expenses for 2026 projected at $160–$170M, reflecting continued investment in autonomy, fleet scale, and platform capabilities.

• Cash and marketable securities totaled $25M as of March 31, 2026.

• Revenue mix is shifting toward recurring, high-margin streams, with over 45% of software revenue now recurring via SaaS and platform licensing.

• Branding revenue saw triple-digit QoQ growth in Q1 FY2026, and healthcare contracts are long-term and usage-based.