Latest news with #ServeRobotics
Yahoo
30-05-2025
- Business
- Yahoo
Serve Robotics to Hold Annual Meeting of Stockholders on June 12, 2025
SAN FRANCISCO, May 30, 2025 (GLOBE NEWSWIRE) -- Serve Robotics (the "Company" or "Serve") (Nasdaq: SERV), a leading autonomous sidewalk delivery company, will hold its Annual Meeting of Stockholders ("Annual Meeting") virtually on Thursday, June 12, 2025 at noon PDT. Stockholders of record at the close of business on April 14, 2025 will have the right to participate at the Annual Meeting. Stockholders will be able to attend the Annual Meeting, vote and submit questions during the meeting by visiting and entering the 16–digit control number included on their Notice of Internet Availability of Proxy Materials (the "Notice") or on their proxy card. The Company commenced mailing of the Notice to stockholders on April 25, 2025. The Notice contains instructions on how to access the Proxy Statement and the annual report, how to vote via the internet or by telephone, and how to receive a paper copy of our proxy materials by mail. If you wish to receive company email notifications, please register at About Serve RoboticsServe Robotics develops advanced, AI-powered, low-emissions sidewalk delivery robots that endeavor to make delivery sustainable and economical. Spun off from Uber in 2021 as an independent company, Serve has completed tens of thousands of deliveries for enterprise partners such as Uber Eats and 7-Eleven. Serve has scalable multi-year contracts, including a signed agreement to deploy up to 2,000 delivery robots on the Uber Eats platform across multiple U.S. markets. For further information about Serve Robotics (Nasdaq:SERV), please visit or follow us on social media via X (Twitter), Instagram or LinkedIn @serverobotics. ContactsMediaAduke ThelwellHead of Communications & Investor Relationspress@ Investor in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
24-05-2025
- Business
- Yahoo
Serve Robotics initiated with an Overweight at Cantor Fitzgerald (yesterday)
Cantor Fitzgerald analyst Andres Sheppard yesterday morning initiated coverage of Serve Robotics (SERV) with an Overweight rating and $17 price target Serve manufactures autonomous, artificial intelligence-powered robots that deliver food in urban cities, the analyst tells investors in a research note. The firm believes the company benefits from 'compelling' unit economics, material partnerships for scale and expansion, and multiple applications that increase its total addressable market. Cantor expects Serve to price its long-term per delivery fee more competitively than the average courier costs and for the company's robots to have a breakeven period of less than two years, thereby yielding compelling unit economics. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Read More on SERV: Disclaimer & DisclosureReport an Issue Serve Robotics initiated with an Overweight at Cantor Fitzgerald Serve Robotics Inc call volume above normal and directionally bullish Serve Robotics Inc's Earnings Call Highlights Growth and Expansion Serve Robotics Reports Strong Q1 2025 Growth Serve Robotics Inc Reports Strong Q1 2025 Results
Yahoo
22-05-2025
- Business
- Yahoo
Should You Buy Serve Robotics Stock After Its 55% Crash? This Recent Move by Nvidia Might Hold the Answer.
Serve Robotics developed autonomous delivery robots powered by Nvidia's hardware and software. Nvidia was one of Serve's largest shareholders before selling its entire stake at the end of 2024. Serve will deploy 2,000 new robots under a deal with Uber Eats, which should drive a surge in revenue. 10 stocks we like better than Serve Robotics › Nvidia supplies the world's most advanced artificial intelligence (AI) chips for data centers, but it also has a growing portfolio of other AI solutions. For example, Serve Robotics (NASDAQ: SERV) uses Nvidia's Jetson Orin hardware and software platform in its flagship Gen3 robots, giving them the capability to autonomously deliver food orders on behalf of platforms like Uber Technologies' Uber Eats. Nvidia used to be one of the largest shareholders in Serve Robotics until it sold its entire stake during the final quarter of 2024. It's not clear why Nvidia exited the position, but Serve stock is down by almost 30% in 2025, and by 55% from its all-time high. It seems the chip giant has excellent timing. But Serve is on track to deploy 2,000 Gen3 robots this year under a major deal with Uber Eats, and Wall Street thinks it will lead to significant revenue growth. Should investors buy Serve stock while it's down, or should they sit on the sidelines with Nvidia? Serve believes existing last-mile logistics solutions are inefficient, because they rely on cars with human drivers to deliver small food orders. The company is betting these deliveries will be handled by autonomous robots and drones in the future, creating a potential $450 billion market opportunity by 2030. Serve's robots have achieved Level 4 autonomy, which means they can drive on sidewalks within designated areas without any human intervention. These robots have completed over 100,000 deliveries on behalf of restaurants primarily in Los Angeles since the start of 2022, with 99.8% accuracy, which makes them significantly more reliable than human delivery drivers. Serve's latest Gen3 robot offers vast improvements in computing power (thanks to Nvidia's Jetson Orin systems), speed, range, and battery life compared to previous versions. It is also up to 65% cheaper to manufacture thanks to Serve's partnership with Magna International, which is a $14.5 billion producer of parts and components for the automotive industry. Serve is aiming to charge $1 per delivery across the board in all markets, and robots with greater capabilities combined with cheaper manufacturing costs will bring the company a step closer. As I mentioned earlier, Serve is working to deploy 2,000 Gen3 robots this year under its deal with Uber Eats. The company launched 250 during the first quarter of 2025, with 700 more expected by the end of the third quarter, and the remainder to come during the fourth quarter. The new robots have already enabled Serve to expand into Miami and Dallas, with Atlanta to follow during the current quarter. Serve generated just $440,465 in revenue during the first quarter of 2025, which was a 53% drop compared to the year-ago quarter -- but that prior result was inflated by a one-off software licensing fee Magna paid the company to use some of its technology. Serve's first-quarter revenue was actually a 150% increase compared to the fourth quarter of 2024 three months earlier, which is a better indication of how quickly its delivery business is ramping up. In fact, Wall Street's consensus estimate (provided by Yahoo! Finance) suggests the company could generate $6.8 million in revenue for the whole of 2025, which means there could be massive growth over the next three quarters as more robots are deployed. But Serve has a big issue. It lost $13.2 million on the bottom line during the first quarter, which puts the company on track to exceed its record annual loss of $39.2 million from last year. Building autonomous technologies isn't cheap -- Serve's biggest cost is research and development, which regularly accounts for half of the company's total operating expenses, and that probably won't change anytime soon. Therefore, even if Serve generates $6.8 million in revenue during 2025, it won't be anywhere near enough to prevent another gigantic net loss. The company had $197.7 million in cash on its balance sheet at the end of the first quarter, so it can afford to sustain its current losses for the next couple of years. However, management will eventually have to turn its focus toward profitability; otherwise, it will have to raise more money from investors, which will significantly dilute existing shareholders. Based on Serve's trailing-12-month revenue of $1.3 million and its market capitalization of $599 million, its stock trades at an eye-popping price-to-sales (P/S) ratio of 460. That means it's a staggering 18 times more expensive than Nvidia stock, which trades at a P/S ratio of just 26. I don't think Serve deserves to be trading at such a steep premium to one of the world's highest-quality companies, which has cemented a leadership position in AI and has a track record of success that spans decades. With that said, Serve's valuation does look more reasonable if you measure it based on its future revenue, using Wall Street's forecasts. If you assume the company will generate $6.8 million in revenue this year, that means its stock is trading at a forward P/S ratio of 88. Moreover, if you assume Serve will deliver $57.8 million in revenue during 2026 as Wall Street expects, then its stock trades at a forward P/S ratio of just 10.3 based on that result. However, there is absolutely no guarantee that Serve will meet Wall Street's estimates, so investors who buy the stock today are taking a very big leap of faith. Plus, even though we don't know exactly why Nvidia sold its 3.7 million shares in Serve (which would be worth $39 million at the current price), it does take some of the shine away from the investment case. On the flip side, if investors think Serve will capture a significant portion of its estimated $450 billion addressable market by 2030, then its current stock price is probably a bargain. But it's important to keep the substantial risks in mind when buying into this story. Before you buy stock in Serve Robotics, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Serve Robotics wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $642,582!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $829,879!* Now, it's worth noting Stock Advisor's total average return is 975% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Anthony Di Pizio has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nvidia, Serve Robotics, and Uber Technologies. The Motley Fool recommends Magna International. The Motley Fool has a disclosure policy. Should You Buy Serve Robotics Stock After Its 55% Crash? This Recent Move by Nvidia Might Hold the Answer. was originally published by The Motley Fool Sign in to access your portfolio
Yahoo
21-05-2025
- Business
- Yahoo
3 Unloved Tech Stocks That Could Go Parabolic
SoundHound AI's audio and voice recognition business is still booming. Serve Robotics could be an underappreciated play on the robotics market. Plug Power's hydrogen business could stabilize and lock in more customers. 10 stocks we like better than SoundHound AI › Many tech investors like to hunt for companies that could be the next hot stock -- ones that have the potential for quick and steep rallies that defy the broad market's expectations and perhaps even their own underlying fundamentals. Some stocks that fall into this category might be heavily shorted, a condition that sets them up for short squeezes. (If you "short" a stock, you benefit when the price falls.) Others might be irrationally underpriced relative to their growth prospects. On the occasions when such beaten-down stocks rally, the initial surges can trigger secondary "fear of missing out" (FOMO) responses among other investors that drive their shares even higher. Two tech stocks that went parabolic over the past few years are AI darlings Nvidia and Palantir Technologies. However, both of those red-hot stocks are unlikely to replicate those multibagger gains over the next few years, particularly considering their current scales. Investing is a long-term endeavor, but if you're looking for the next potential parabolic tech play, you might want to start by considering unloved stocks that have obvious flaws and are heavily shorted. Assuming such companies are able to resolve their pressing issues, their short-sellers would need to cover their positions -- sometimes hastily. That situation of shorts having to sell can spark short-squeeze rallies and attract the attention of more growth-oriented investors. Currently, three potential parabolic gainers worth looking at are SoundHound AI (NASDAQ: SOUN), Serve Robotics (NASDAQ: SERV), and Plug Power (NASDAQ: PLUG). SoundHound develops AI-powered audio and speech recognition tools. Its namesake app can be used to identify songs by it simply hearing a few seconds of audio or a few hummed bars, while its Houndify platform allows developers to create their own voice recognition applications. The stock closed at its all-time high in December. But since then, it has declined by more than 50%, and as of April 30, 31% of its float was being shorted. Nevertheless, SoundHound is still growing rapidly by locking in more customers for its software across the automotive, restaurant, financial, healthcare, and tech sectors. It also expanded its restaurant-facing platform recently with two big acquisitions. That said, SoundHound is still unprofitable, and it looks richly valued trading at 28 times this year's sales. Nvidia, which had owned a small slice of the company, liquidated its entire stake in it last year. Then management briefly delayed the company's 10-K filing in March. All of those issues are weighing down the stock. However, the consensus view among analysts is still for SoundHound's revenue to grow at a compound annual rate of 54% over the next two years as more companies in more industries replace some of their customer service employees with AI-powered, voice-recognition-capable chatbots. Assuming the SoundHound follows that growth trajectory, it could shake off its short sellers and head a lot higher over the next decade. Serve Robotics, a developer of autonomous delivery robots, was founded in 2017 within Postmates. Uber (NYSE: UBER) acquired Postmates in 2020, spun off Serve as an independent company in 2021, but continued using its delivery robots for Uber Eats in the Los Angeles area. Serve Robotics' newest Gen 3 robots can travel at a max speed of 11 mph, last up to 48 miles on a single charge, and carry 15 gallons of cargo. They're also resistant to rain and extreme temperatures. Serve has deployed 350 delivery robots to date. Only 73 of those robots were running active routes during the first quarter of 2025, but it aims to deploy 2,000 robots for Uber Eats by the end of the year. Assuming it achieves that goal by expanding its core LA and Dallas/Fort Worth markets, analysts expect its revenue to grow from just $1.8 million in 2024 to $91.7 million in 2027. With a market cap of $600 million, Serve might not seem like a bargain at 6.5 times estimated 2027 sales. But if Uber expands its partnership to other cities -- and it attracts the attention of other delivery-driven companies -- it could grow much bigger. Serve's stock has dropped about 60% from its all-time high and 17% of its float was being shorted at the end of April, but this little robotics maker might just go parabolic in the future. Plug Power develops hydrogen fuel cell, charging, storage, and transportation technologies. It has already deployed over 70,000 fuel cell systems and more than 250 fueling stations across the world, and it's the world's largest single buyer of liquid hydrogen. Amazon and Walmart, which both use its hydrogen fuel cells to power their electric forklifts, are notably two of its biggest customers and investors (through stock warrants). Plug's stock has plunged by 95% over the past three years (and is down by almost 99% from its 2021 peak), yet 25% of its float was still being shorted as of April 30. A lot of investors remain bearish on Plug because the market's demand for expensive new hydrogen projects remains chilly. But from 2024 to 2027, analysts expect Plug's revenue to grow at a compound annual rate of 29%. This recovery could be driven by the stabilization of the hydrogen market, fresh contracts, and its $1.66 billion loan guarantee from the U.S. Department of Energy to build six green hydrogen manufacturing plants (which supports the Trump administration's long-term plans to boost domestic energy production). That's an impressive growth trajectory for a stock that trades at just 1.1 times this year's sales -- so any good news might just trigger a parabolic rally. Before you buy stock in SoundHound AI, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and SoundHound AI wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $642,582!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $829,879!* Now, it's worth noting Stock Advisor's total average return is 975% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Leo Sun has positions in Amazon. The Motley Fool has positions in and recommends Amazon, Nvidia, Palantir Technologies, Walmart, and Wolfspeed. The Motley Fool has a disclosure policy. 3 Unloved Tech Stocks That Could Go Parabolic was originally published by The Motley Fool
TechCrunch
21-05-2025
- Business
- TechCrunch
Serve is betting that food delivery and access to public markets are the keys to scaling robotics
'The only thing worse than being a public company CEO is being a private company CEO right now,' says Ali Kashani, co-founder and CEO of Serve Robotics. Access to capital, he argues, is everything in robotics. And in today's 'FOMO-driven' venture climate, securing funds is far from guaranteed. Backed by Nvidia and Uber, Serve recently raised $80 million to extend its runway through 2026. The company aims to scale from 100 sidewalk delivery robots in Los Angeles to 2,000 bots operating across U.S. cities by the end of this year and hit operational profitability once that fleet is fully deployed. It's a bold play in a space where hardware, logistics, and data all collide. Today on Equity, Rebecca Bellan caught up with Kashani to unpack how Serve is navigating public markets, scaling real-world robotics by using food delivery as a test ground, and building what it hopes is the future of last-mile delivery. Listen to the full episode to hear more about: How Serve went from a Postmates spinout in 2021 to a publicly traded company via reverse merger in 2024. What it takes to scale a delivery fleet across cities like L.A., Miami, and Dallas, and why Serve isn't launching on college campuses like its rivals. Why Kashani says Serve's sidewalk bots collect four times more visual data per day than GPT-4's vision model. How ground robots and drones might work together to finally crack last-mile logistics. Equity will be back Friday with our weekly news round-up, and special Google I/O coverage from Max. Don't miss it! Equity is TechCrunch's flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. For the full episode transcript, for those who prefer reading over listening, check out our full archive of episodes here.
