Serve Robotics Inc. announced its financial results for the third quarter ended September 30, 2024, on November 7, 2024. The company reported total revenues of $221,555, an increase from $62,565 in the same period of 2023.
The net loss for Q3 2024 was $(7,996,219), compared to a net loss of $(7,645,972) in Q3 2023. Operational metrics showed progress, with Daily Active Robots increasing to 59 from 30 in Q3 2023, and Daily Supply Hours rising to 465 from 224.
Serve Robotics also successfully raised $32.3 million in new capital during the quarter, providing financial flexibility to fund its expansion plans. The company stated it is ahead of schedule with the initial manufacturing and rollout of its 2,000-robot deployment agreement with Uber Eats for year-end 2025.
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