Serve Robotics Inc (NASDAQ:SERV) shares are moving higher in Tuesday's after-hours session on the heels of the company's second-quarter financial results.
- Q2 Revenue: $468,375, versus estimates of $400,000
- Q2 EPS: Loss of 27 cents, versus estimates for a loss of 25 cents
Serve averaged 385 daily supply hours during the second quarter, representing a 106% increase year-over-year. The company noted that it also achieved an 85% increase in daily active robots on a year-over-year basis.
Serve said it commenced manufacturing activities on its 2,000-robot fleet in the second quarter, entered into a purchase and production agreement with Magna and signed an amendment expanding its supply agreement with Ouster to equip its robots with upgraded sensors.
Serve Robotics noted $300,000 of its software services revenue came from the company's software services agreement with Magna. The services contract with Magna was significantly completed during the second quarter, so the company doesn't anticipate material software services revenue in the third quarter.
Serve Robotics ended the quarter with $28.8 million in cash and cash equivalents.
"I am particularly pleased to announce that Serve has completed the design of our third-generation robot. Looking ahead, we are focused on executing Serve's fleet expansion plan to deploy at least 250 additional robots in Los Angeles by the end of Q1 2025," said Ali Kashani, co-founder and CEO of Serve Robotics.
"We believe our continued execution of this plan through year-end 2025 will position Serve to deploy all 2,000 robots under our Uber Eats agreement, which at full utilization is expected to generate $60 to $80 million in run-rate revenue annually."
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Serve Robotics went public via reverse merger with Patricia Acquisition Corp. According to TechCrunch, Serve Robotics was initially started as the robotics division of Postmates. The autonomous sidewalk robots started delivering to Postmates customers in 2018, but when Uber acquired Postmates in 2020, the robotics division was spun out as Serve Robotics.
Serve Robotics shares have seen increased attention in recent weeks leading up to earnings, rising more than 330% over the past month. NVIDIA Corp (NASDAQ:NVDA) reported a 10% stake in the robotics company in mid-July.
SERV Price Action: At publication time, Serve Robotics shares were up 11.38% at $11.55 in extended trading, according to Benzinga Pro.
Photo: courtesy of Serve Robotics.
Serve Robotics Inc (納斯達克股票代碼:SERV)的股票在週二盤後交易中上漲,該公司發佈了第二季度的財務報告。
- Q2營業收入:468,375美元,預計爲400,000美元。
Serve在第二季度的平均每日供應時數爲385小時,同比增長106%。該公司指出,在同比基礎上,其每日活躍機器人數量增長了85%。
Serve表示,它在第二季度開始了其2,000臺機器人艦隊的製造活動,與Magna簽訂了購買和生產協議,並簽署了擴大其與Ouster供應協議的修正案,以使其機器人配備升級版傳感器。
Serve Robotics指出,其3億美元的軟件服務收入中,有30萬美元來自該公司與Magna的軟件服務協議。Magna的服務合同在第二季度大幅完成,因此該公司不預計在第三季度有重大軟件服務收入。
Serve Robotics在本季度末的現金及現金等價物爲2,880萬美元。
Serve Robotics聯合創始人兼首席執行官Ali Kashani表示:「我特別高興地宣佈Serve已經完成了我們第三代機器人的設計。展望未來,我們將專注於執行Serve的機器人艦隊擴張計劃,在2025年第一季度之前在洛杉磯部署至少250台額外機器人。」
「我們相信,我們在2025年年末之前通過計劃的持續執行,將使Serve能夠部署我們Uber Eats協議下的所有2,000臺機器人,充分利用機器人將預計帶來每年6億至8億美元的營業收入。」
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Serve Robotics是通過與帕特里夏收購公司的倒數合併而上市的。據TechCrunch報道,Serve Robotics最初是Postmates的機器人部門。自2018年起,自主步行機器人開始向Postmates客戶提供送貨服務,但是當優步於2020年收購Postmates時,機器人部門作爲Serve Robotics分立出來。
最近幾周,Serve Robotics的股票受到了關注,漲幅超過了過去一個月的330%。NVIDIA Corp(納斯達克股票代碼:NVDA)於7月中旬報告了對該機器人公司的10%的持股。
SERV股票行情:據Benzinga Pro的數據顯示,在發佈時,Serve Robotics股票在盤後交易中上漲11.38%,至11.55美元。
圖片:Serve Robotics提供。