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 (纳斯达克股票代码:SERV)的股票在周二盘后交易中上涨,该公司发布了第二季度的财务报告。
- Q2营业收入:468,375美元,预计为400,000美元。
Serve在第二季度的平均每日供应时数为385小时,同比增长106%。该公司指出,在同比基础上,其每日活跃机器人数量增长了85%。
Serve表示,它在第二季度开始了其2,000台机器人舰队的制造活动,与Magna签订了购买和生产协议,并签署了扩大其与Ouster供应协议的修正案,以使其机器人配备升级版传感器。
Serve Robotics指出,其3亿美元的软件服务收入中,有30万美元来自该公司与Magna的软件服务协议。Magna的服务合同在第二季度大幅完成,因此该公司不预计在第三季度有重大软件服务收入。
Serve Robotics在本季度末的现金及现金等价物为2,880万美元。
Serve Robotics联合创始人兼首席执行官Ali Kashani表示:“我特别高兴地宣布Serve已经完成了我们第三代机器人的设计。展望未来,我们将专注于执行Serve的机器人舰队扩张计划,在2025年第一季度之前在洛杉矶部署至少250台额外机器人。”
“我们相信,我们在2025年年末之前通过计划的持续执行,将使Serve能够部署我们Uber Eats协议下的所有2,000台机器人,充分利用机器人将预计带来每年6亿至8亿美元的营业收入。”
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Serve Robotics是通过与帕特里夏收购公司的倒数合并而上市的。据TechCrunch报道,Serve Robotics最初是Postmates的机器人部门。自2018年起,自主步行机器人开始向Postmates客户提供送货服务,但是当优步于2020年收购Postmates时,机器人部门作为Serve Robotics分立出来。
最近几周,Serve Robotics的股票受到了关注,涨幅超过了过去一个月的330%。NVIDIA Corp(纳斯达克股票代码:NVDA)于7月中旬报告了对该机器人公司的10%的持股。
SERV股票行情:据Benzinga Pro的数据显示,在发布时,Serve Robotics股票在盘后交易中上涨11.38%,至11.55美元。
图片:Serve Robotics提供。