SERV Expands to 20 Cities: Is Nationwide Robot Delivery Near?

Serve Robotics Inc. SERV is rapidly scaling its autonomous delivery network, signaling that robot-powered last-mile logistics may be approaching a broader national rollout. Over the past year, the company expanded from operating in a single city to deploying about 2,000 autonomous robots across 20 cities in six major metropolitan regions, including markets such as Atlanta, Dallas, Chicago and Miami.

The rapid expansion highlights Serve’s strategy of building scale while strengthening the artificial intelligence that powers its robots. Each delivery trip generates real-world data from sidewalks, traffic patterns and pedestrian interactions. This data helps improve Serve’s autonomy models, allowing robots to operate more efficiently and safely in complex urban environments. As the fleet grows, the increasing data pool further strengthens the company’s technology advantage.

Strategic partnerships are also accelerating adoption. Serve now operates with major delivery platforms including Uber Eats and DoorDash, giving its robots access to a large portion of the U.S. food delivery market. At the same time, the company has expanded its merchant ecosystem to more than 4,500 restaurant and retail partners, significantly increasing the number of locations where robot delivery can take place.

Financial performance is beginning to reflect this growth. In fourth-quarter 2025, Serve generated revenues of about $0.9 million, representing nearly 400% year-over-year growth as deliveries and fleet activity increased. For the full year, revenues reached $2.7 million, exceeding management’s earlier guidance.

Looking ahead, Serve is broadening its business model beyond food delivery. The company is developing additional revenue streams through robot advertising, software services and data monetization. It is also entering healthcare automation through its acquisition of Diligent Robotics, which brings hospital delivery robots and recurring contracts.

With a rapidly expanding fleet, strong platform partnerships and new revenue channels, Serve Robotics appears to be positioning itself for the next phase of autonomous delivery, potentially bringing robot deliveries to cities nationwide in the coming years.

SERV’s Price Performance, Valuation & Estimates

Shares of Serve have gained 16.5% over the past year, against the industry’s 25.1% decline. At the same time frame, other industry players, such as Vertiv Holdings Co. VRT and BigBear.ai Holdings, Inc. BBAI, have gained 190.6% and 12.9%, respectively.

SERV’s Price Performance

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SERV stock is currently trading at a premium. It is currently trading at a forward 12-month price-to-sales (P/S) multiple of 20.65, well above the industry average of 13. Then again, other industry players, such as Vertiv and BigBear.ai, have P/S ratios of 6.89 and 12.69, respectively.

P/S (F12M)

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The Zacks Consensus Estimate for Serve’s 2026 loss per share has widened from $1.83 to $1.89 in the past seven days.

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SERV currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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This article originally published on Zacks Investment Research (zacks.com).

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