Serve Robotics Inc.

Serve Robotics Announces Third Quarter 2026 Results

Serve Robotics reported Q3 revenue of $2.835 million, up 313% year-over-year, and raised full-year 2026 revenue guidance to $12 million from the prior $9-10 million range. Recurring revenue reached nearly 70% of the mix, gross margin improved sequentially, and daily active robots grew to 917 from 312 a year ago, including the October launch of its first international city in Australia. The company ended the quarter with $198 million in cash and marketable securities, but remains deeply unprofitable with a Q3 GAAP net loss of $59.2 million and a gross loss of $7.6 million; non-GAAP opex guidance was cut to $150 million from $160-170 million.

•3d ago

Serve Robotics Launches Physical AI Services, Opening Technology Behind Its Robot Fleets to Leading Physical AI Companies

Serve Robotics launched Physical AI Services, a new business line offering the technology behind its own robot fleet — connectivity, data curation, and real-world training data — to other physical AI companies. The launch includes three products: Serve Link (robot-to-data-center connectivity), Serve Data Curator (training-data selection), and a real-world foundation-model data catalog drawn from its sidewalk deployments. Bedrock Robotics, which builds autonomy for heavy construction equipment, is a launch customer. Serve says the services already power thousands of vehicles across roughly a dozen industries, in addition to its own 2,000+ robot sidewalk delivery fleet, giving the company a potential new revenue stream beyond food delivery.

•3d ago

Elevate Service Group Signs LOI to Acquire Red Lake Plumbing & Heating, Establishing Northwestern Ontario Service Platform

Elevate Service Group signed a letter of intent to acquire 100% of Red Lake Plumbing & Heating for $1.3 million — $650,000 cash, $300,000 in shares, and a $350,000 three-year promissory note. Red Lake generated $3.7 million of 2025 revenue and $0.4 million EBITDA and adds over ten licensed plumbing, HVAC and gas technicians, giving Elevate a permanent operating base in Northwestern Ontario. Vendor Métis Infinity, the economic development arm of the Métis Nation of Ontario, will become a shareholder of Elevate at closing, laying groundwork for expansion into remote and Indigenous communities. The LOI is non-binding and closing is expected by end of 2026, subject to TSXV approval.

•11d ago

The Billion-Dollar AI Drone Revolution: Software Is Reshaping a Global Industry

This is a FN Media paid promotional roundup of AI drone-sector companies, not an issuer release. Palladyne AI is mentioned briefly among five 'companies on the move.' The only PDYN-specific news is that its BRAIN edge AI flight computer was selected as a finalist in the U.S. Army FUZE xTech|Apex Intercept competition, giving it a mission-relevant demonstration opportunity for next-generation interceptor and fire-control modernization. The release carries a disclosure that FN Media was compensated $4,600 by ZenaTech for coverage, and the PDYN mention is repackaged prior news — treat as low-signal promotional content rather than a material company disclosure.

•17d ago

Elevate Service Group Demonstrates Integrated Service Capabilities Through Preventative Maintenance Program for Circle K

Elevate Service Group's subsidiary TFI Food Equipment Solutions completed a preventative maintenance program covering approximately 200 Taylor 349 Froster machines at Circle K locations across Ontario. The program showcases Elevate's integrated-platform strategy: cross-selling to existing customers, improving technician utilization, and internalizing work that might otherwise be subcontracted, executed at a time when TFI's own operations were near capacity. No revenue figures were disclosed, but management says it intends to replicate the model across additional equipment categories and customers.

•17d ago

Elevate Service Group Strengthens Operating Platform with Key Management Hires

Elevate Service Group announced five senior management hires spanning technology, facilities, operations, procurement and finance to support organic growth and acquisition integration. New leaders include CIO Brennan Direnfeld (ex-Accenture), plus directors of facilities, operations and procurement and a Financial Controller drawn from Driven Brands, Element Fleet and BMO. CEO Paul Bissett said the hires build the infrastructure and controls required to support both organic growth and future acquisitions, consistent with the company's roll-up platform strategy.

•1mo ago

Elevate Service Group Secures $25 Million Acquisition Facility and Expands Operating Line to $7.5 Million

Elevate Service Group entered an amended credit agreement providing a new $25 million undrawn acquisition facility and increasing its revolving operating line to $7.5 million from $6.0 million. The deal also improves terms: the operating rate dropped to prime plus 1.00% from prime plus 1.25%, with a maturity of May 10, 2028 and a 3.50x leverage covenant. The facility gives Elevate dry powder for its cross-border acquisition pipeline in Canada and the US, though nothing is drawn yet and no deal has been announced.

•1mo ago

Elevate Service Group Commences OTCQB Trading and Provides Corporate Updates

Elevate Service Group's common shares have commenced trading on the OTCQB Venture Market under the symbol ESVCF, with DTC eligibility approved to simplify US clearing and settlement. The company also granted 497,000 stock options at a $2.20 exercise price with five-year terms, plus 69,444 RSUs valued at $150,000, primarily for recruitment and retention. Separately, shareholders approved all AGM matters on July 16, 2026, and Elevate signed a six-month, US$250,000 marketing and investor-awareness agreement with Capital Gain Media Inc.

•2mo ago

Elevate Service Group Reports Record Q2-2026 Revenue of $20.5 Million as Operating Platform Continues to Scale

Elevate Service Group reported Q2-2026 revenue of $20.5 million, a 170% increase from the prior quarter, driven by the integration of three strategic acquisitions completed during the period. Pro forma revenue for the quarter reached $24.6 million, with gross profit of $6.9 million representing a 33.8% margin, while Adjusted EBITDA came in at $1.9 million. Subsequent to quarter-end, the company strengthened its balance sheet with a closed $10 million bought deal equity offering and announced a $25 million acquisition credit facility.

•2mo ago

Diligent Robotics, a Serve Robotics Company, Begins Rolling Out Moxi 2.0

Diligent Robotics, a subsidiary of Serve Robotics, has begun rolling out Moxi 2.0, a next-generation hospital robot platform featuring a proprietary World Model and 10x faster onboard compute. The new system leverages collaborations with NVIDIA and AWS to enhance real-time decision-making and continuous learning, while T-Mobile supports private 5G deployments for reliable connectivity. Customer validation is highlighted by Children’s Hospital Los Angeles, where the Moxi fleet has completed over 40,000 deliveries and saved more than 16,000 staff hours, with utilization growing over 10% in the second quarter.

•2mo ago

Serve Launches Robot Delivery with Wonder, Adding Grubhub to Its Growing Delivery Network

Serve Robotics partnered with Grubhub and Wonder to launch autonomous robot delivery in Chicago, Los Angeles, and Alexandria, initially covering more than 100 merchants in Chicago and nearly 200 in Los Angeles. The company simultaneously expanded into two new major markets, Washington, DC and San Jose, via its existing DoorDash partnership, adding a total population of 8 million to its coverage area. Serve also unveiled a new micro-depot model in Miami designed to accelerate low-cost expansion. In product news, the Diligent Robotics subsidiary began rolling out the next-generation Moxi 2.0 hospital robot with 15x faster processing power and a new World Model. Serve also previewed Beacon, a countertop connectivity device, and launched 'Characters,' an interactive advertising platform debuting with the 'Chomp' robot.

•2mo ago

Elevate Service Group Announces Closing of Upsized $10 Million Bought Deal Equity Offering and Secures Term Sheet for $25 Million Acquisition Facility

Elevate Service Group closed an upsized $10 million bought deal equity offering at $1.90 per share, exceeding the original $7 million target due to strong institutional demand. Simultaneously, the company signed a term sheet for a $25 million acquisition facility with a Schedule I Canadian bank, which will also improve the terms of its existing operating line. The combined capital injection positions the company to execute on a disciplined acquisition strategy and expand its national facility services platform.

•3mo ago

Serve Robotics Appoints Andreas Lieber to Board of Directors

Serve Robotics appointed Andreas Lieber to its Board of Directors effective June 22, 2026, replacing outgoing director Sarfraz Maredia. Lieber brings significant experience scaling technology and logistics businesses, having held leadership roles at Uber, Postmates, Shippo, and currently California Forever. CEO Ali Kashani noted the appointment aligns with the company's evolution from sidewalk delivery to a broader robotics infrastructure platform.

•4mo ago

Serve Robotics Continues Expansion Beyond Food Delivery, Launches Autonomous Laundry Vertical with NoScrubs

Serve Robotics announced a commercial pilot with NoScrubs to deliver laundry orders using its existing fleet of autonomous sidewalk robots in Los Angeles. This marks Serve’s first urban delivery partnership outside of prepared food, leveraging its ~2,000 robot fleet to capture recurring local commerce demand. The partnership aims to improve fleet utilization by filling off-peak hours, as laundry deliveries do not conflict with mealtime food delivery peaks.

•5mo ago

Elevate Service Group Reports Q1 2026 Results and Rapid Expansion of National Facility Services Platform

Elevate Service Group reported Q1 2026 revenue of $7.6 million, driven by the integration of recent acquisitions including Infinity Group, First Choice Maintenance, and Charged Electric Services. The company highlighted a trailing twelve-month revenue of $38.2 million and Adjusted EBITDA of $4.2 million, with pro forma annualized revenue now reaching approximately $90 million following four strategic acquisitions in 2026. Management emphasized a growing internal technician base of over 130 personnel and a strong liquidity position with $4.9 million in cash, while noting plans to list on the U.S. OTC market in Q2 or early Q3 2026.

•5mo ago

Serve Robotics Announces First Quarter 2026 Results with 3X Sequential Revenue Growth

Serve Robotics reported Q1 revenue of $3.0 million, up 238% sequentially and 578% year-over-year, driven by growth across all offerings and the integration of Diligent Robotics. The company expanded its operating footprint to 44 cities across 14 states and improved gross margins as software revenue became a larger mix of total sales. Management reaffirmed 2026 full-year revenue guidance of approximately $26 million and maintained a strong balance sheet with $197.4 million in liquidity as of March 31, 2026.

•6mo ago

Elevate Service Group Closes Acquisition of TFI Food Equipment Solutions, a Leading Foodservice Equipment Distributor and Service Provider

Elevate Service Group completed the acquisition of TFI Food Equipment Solutions, adding over 60 technicians and securing exclusive equipment distribution rights for brands like Taylor and Henny Penny. The transaction increases Elevate's pro forma revenue base by approximately 80% to $90 million, which includes $5 million of recurring subscription revenue. Management highlighted the deal as transformational, providing scale and deep technical specialization to support its national platform strategy.

•6mo ago