Serve Robotics (SERV 2.25%), a producer of AI-powered sidewalk delivery robots, was uplisted from the over-the-counter market to the Nasdaq on April 18, 2024. That uplisting coincided with a new public offering at $4.00 per share, and it opened at $4.75 on the first day.
Serve's stock subsequently surged and closed at its all-time high of $22.92 on Dec. 26, 2024. But today, it trades at about $9. However, I believe this oft-overlooked robotics stock could bounce back and generate a tenbagger-gain over the next decade for patient investors.
Image source: Serve Robotics.
What does Serve Robotics do?
Serve was founded in 2017 as a division of Postmates, the food delivery service that Uber (UBER 1.41%) acquired in 2020. Uber spun off Serve as an independent company in 2021, while continuing to use its robots to fulfill Uber Eats deliveries across Los Angeles.
In October 2024, Serve launched its newest Gen3 robots, which can travel 48 miles on a single charge, carry up to 15 gallons of cargo, and reach a maximum speed of 11 mph. They're also resistant to extreme weather conditions and cost roughly 65% less than their predecessors.
Serve only operated about 100 robots in 2024. But in 2025, it expanded its fleet to 2,000 robots across more cities. It delivered most of those robots to Uber Eats, but some went to DoorDash and its other enterprise partners. Its recent acquisition of Diligent Robotics will also support its expansion into the hospital and service robotics markets.
NASDAQ: SERV
Key Data Points
Why could Serve Robotics be a 10-bagger stock?
Serve's revenue already jumped from $2.7 million in 2024 to $25.9 million in 2025 as it expanded its fleet and secured new enterprise deals. But by 2028, analysts expect its revenue to surge to $131.5 million as it gradually narrows its net losses.
That's an incredible growth trajectory for a stock that trades at nine times next year's sales, but it could still have plenty of room to grow. According to Precedence Research, the global delivery robot market could expand at a 32% CAGR from 2025 to 2034.
Assuming Serve matches Wall Street's estimates through 2028, grows its revenue at a 20% CAGR through 2036, and trades at a more generous 10 times sales by the final year, its market cap could rise from $705 million today to $5.65 billion over the next ten years.
That would only make it an 8-bagger instead of a 10-bagger, but it could easily become the latter if it generates stronger-than-expected growth or commands a higher price-to-sales ratio. Serve is still a highly speculative stock, but its early mover advantage in the delivery robot market, strong support from Uber, and expanding customer base could drive it much higher.
