Serve Robotics (SERV) Investor presentation summary

Market opportunity and business model

• Targets the $450B robotic and drone delivery market by 2030, addressing inefficiencies in short-distance deliveries currently handled by oversized vehicles.

• Operates the largest commercial Level 4 autonomous sidewalk robot fleet in the U.S., spanning 44 cities and 14 states.

• Diversifies revenue across last-mile delivery, healthcare, branding, advertising, and software platform data.

• Integrates with multiple delivery platforms and partners with 26 hospitals, expanding reach and use cases.

• Acquired Diligent Robotics and Vebu to expand into healthcare and kitchen automation.

Technology and operations

• Proprietary end-to-end autonomy stack supports both indoor and outdoor environments, leveraging cross-domain training data.

• Gen3 Serve robots feature Level 4 autonomy, 65% lower hardware costs, 14-hour operation, and improved weather resistance.

• Moxi robots, acquired via Diligent, serve hospitals with advanced manipulation and multi-floor navigation.

• Beacon device enables back-of-house integration for restaurants, unlocking new merchant segments.

• Ecosystem includes partnerships with Magna, NVIDIA, and Ouster for scalable manufacturing and advanced sensing.

Growth, scale, and financial performance

• Fleet grew from 100 to 2,000 robots in one year, with over 1.8M deliveries and a 99.8% completion rate.

• Q2 FY2026 revenue reached $3.2M, up from $0.6M in Q2 FY2025, representing 404% YoY growth.

• FY2026 revenue guidance is $9-10M, with capex of $15-17M and $240M in cash and marketable securities as of June 2026.

• Non-GAAP operating expenses projected at $140-150M for 2026, reflecting continued investment in autonomy and software.

• Revenue mix is shifting toward recurring, high-margin streams, with SaaS and platform licensing as growth drivers.