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Nvidia-Backed Serve Robotics Pops On Q2 Earnings: Everything You Need To Know
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.
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