Presto Automation Inc

Presto Automation, Inc. provides restaurant labor productivity technologies. It offers next-generation touch, vision, and voice technologies to the analog restaurant industry. The company was founded by Rajat Suri and is headquartered in Greenwich, CT.

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q1 2025

Presto (PRST) reports strong Q1 results, eyes growth through AI

Presto's Q1 2023 earnings call showcased strong performance, driven by the success of Presto Voice and strategic partnerships. While facing challenges in leadership transition and operational efficiency, the company is well-positioned to capitalize on opportunities for growth and margin expansion.

Presto Automation Inc excels in Q2 with AI growth and financial strength

Overall, Presto Automation Inc delivered a strong performance in Q2 2023, showcasing growth in AI applications and financial metrics.
The company's focus on adjusted EBITDA, operational efficiencies, and cost reduction initiatives underpin its financial strength and growth prospects.
While facing challenges in cost management and market competition, Presto has opportunities to leverage AI technology for continued success and expansion.

Presto Automation Inc sees revenue growth with drive-thru automation success

Presto Automation Inc's Q3 2023 performance reflects strong revenue growth driven by Presto Voice and market traction with major partnerships, despite challenges with revenue guidance adjustments.
The company's strengths lie in its successful drive-thru automation solutions, strategic partnerships, and technological advancements, positioning it for continued growth and market leadership.
While facing challenges in revenue guidance adjustments and cost management, Presto has opportunities for significant revenue growth through partnerships, technological enhancements, and market expansion.
Overall, Presto's performance, strengths, and opportunities indicate a positive outlook for the company's future growth and market position, supported by its innovative solutions and strategic initiatives.

Presto Automation reports $26.1M revenue for FY 2023, focuses on growth

Presto Automation Inc faces challenges in hardware revenue decline but shows strength in market adoption of its solutions. With a focus on cost reduction and profitability, the company aims to leverage opportunities for expansion and partnerships in the restaurant industry.

Presto Automation Q1 2024: Mixed Performance, Growth Opportunities Ahead

Presto Automation Inc showcased a mixed performance in Q1 2024, with revenue of $4.9 million and a strategic focus on scaling the Presto Voice business.
While facing challenges with declining platform revenue and contract terminations, the company demonstrated strengths in financial management and growth opportunities.
Analysts' inquiries into deployment, automation, and workforce reductions provided insights into Presto Automation's strategic direction and potential for future growth.

Presto Automation Inc shifts focus to Voice AI amid financial challenges

Presto Automation Inc is strategically pivoting towards Voice AI, focusing on innovation and operational enhancements to drive growth.
While facing challenges such as financial losses and business transitions, the company aims to capitalize on opportunities for product expansion and market diversification.
With a clear roadmap for product development and revenue guidance for Q4 2024, Presto is navigating a transformative phase with a vision for sustainable success.

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Presto Automation, Inc. engages in the provision of enterprise-grade artificial intelligence (AI) and solutions to the restaurant industry. It focuses on its Presto Voice AI. The company was founded by Rajat Suri in 2008 and is headquartered in San Carlos, CA.

Mexican-inspired fast food restaurant collaborates with Presto and Qu to optimize its drive-thru operations, revenue, and guest experience Mexican-inspired fast food restaurant collaborates with Presto and Qu to optimize its drive-thru operations, revenue, and guest experience

UPDATE – Presto Pilots Drive-Thru Voice AI at Taco John's

Presto Pilots Drive-Thru Voice AI at Taco John's

Presto Automation Inc. (NASDAQ:PRST ) Q3 2024 Earnings Conference Call May 22, 2024 5:00 PM ET Company Participants Conference Call Participants Chris Cast - IR Gee Lefevre - Interim CEO Stanley Mbugua - Interim CFO Operator Greetings, and welcome to Presto's Financial Third Quarter 2024 Earnings Call. As a reminder, this conference is being recorded.

Presto Automation Inc. (PRST) Q3 2024 Earnings Call Transcript

Successful Pilots of Presto Voice™ with Pure AI and Spanish Language Capabilities Focuses on Voice AI Solution for Drive-Thrus By Exiting Touch Pay-at-Table Solution SAN CARLOS, Calif., May 21, 2024 (GLOBE NEWSWIRE) -- -- Presto Automation Inc. (NASDAQ: PRST ), one of the largest drive-thru AI and automation technology providers to the restaurant industry, today announced financial results for the 2024 fiscal third quarter ended March 31, 2024.

Presto Automation Announces Fiscal Third Quarter 2024 Financial Results

Drive-Thru Voice AI Expands Language Capabilities to Better Serve Spanish-Speaking Customers Drive-Thru Voice AI Expands Language Capabilities to Better Serve Spanish-Speaking Customers

Presto Announces Pilot of Spanish Voice AI for Drive-Thrus

SAN CARLOS, Calif., May 14, 2024 (GLOBE NEWSWIRE) -- Presto Automation Inc. (NASDAQ: PRST ), one of the largest drive-thru AI and automation technology providers to the restaurant industry, today announced that the Company will release its fiscal third quarter 2024 financial results on Monday, May 20, 2024, after the financial markets close.

Presto to Report Fiscal Third Quarter 2024 Financial Results

New Pure AI feature provides drive-thru operators with a fully autonomous Voice AI ordering experience for customers New Pure AI feature provides drive-thru operators with a fully autonomous Voice AI ordering experience for customers

Presto Introduces Presto Voice™ with Pure AI for Enhanced Automated Drive-Thru Ordering

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SAN CARLOS, Calif., March 14, 2024 (GLOBE NEWSWIRE) -- Presto Automation, Inc. (“Presto” or the “Company”) (NASDAQ: PRST), one of the largest AI and automation technology providers to the restaurant industry, announced today that it has entered into a securities purchase agreement with institutional investors, providing for the purchase and sale of 4,800,000 shares of common stock in a registered direct offering, at a price per share of $0.25, which is above the Nasdaq Minimum Price.

Presto Automation Announces Pricing of $1.2M Registered Direct Offering Priced above Nasdaq Minimum Price

Presto Automation (NASDAQ: PRST ) stock is soaring higher on Thursday alongside heavy trading of the artificial intelligence ( AI ) and automation solutions company's shares. This has more than 8.1 million shares of PRST stock changing hands as of this writing.

Why Is Presto Automation (PRST) Stock Up 77% Today?

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SAN CARLOS, Calif., March 05, 2024 (GLOBE NEWSWIRE) -- Presto Automation Inc. (NASDAQ: PRST), announces that it is canceling its earnings call previously scheduled for 5 pm ET today.

Presto Automation cancels Fiscal Second Quarter 2024 earnings call

SAN CARLOS, Calif., March 01, 2024 (GLOBE NEWSWIRE) -- Presto Automation Inc. (Nasdaq:PRST) (“Presto” or the “Company”), one of the largest drive-thru automation technology providers in the hospitality industry, today announced that the Company will release its fiscal second quarter 2024 financial results on Tuesday, March 05, 2024.

Presto to Report Fiscal Second Quarter 2024 Financial Results

SAN CARLOS, Calif., Feb. 29, 2024 (GLOBE NEWSWIRE) -- Presto Automation, Inc. (“Presto” or the “Company”) (NASDAQ: PRST), one of the largest AI and automation technology providers to the restaurant industry, announced today that it has entered into a securities purchase agreement with institutional investors, providing for the purchase and sale of 8,533,000 shares of common stock in a registered direct offering, at a price per share of $0.25.

Presto Automation Announces Pricing of Approximately $2.1M Registered Direct Offering

SAN CARLOS, Calif., Feb. 12, 2024 (GLOBE NEWSWIRE) -- Presto Automation Inc. (Nasdaq:PRST) (“Presto” or the “Company”), one of the largest AI and automation technology providers to the restaurant industry, today announced it has closed a financing led by its existing investors, including Remus Capital, a fund controlled by the Company's Chairman, Krishna K.

Presto Automation Raises $6.0 Million and Wins Final Appeal in Case Against XAC

SAN CARLOS, Calif., Dec. 18, 2023 (GLOBE NEWSWIRE) -- Presto Automation Inc. (Nasdaq: PRST ) one of the largest drive-thru automation technology providers in the hospitality industry, today announced Debarag Banerjee as Head of Voice Engineering.

Presto Announces Stanford PhD and AI technologist Debarag Banerjee as Head of Voice Engineering

SAN CARLOS, Calif., Dec. 14, 2023 (GLOBE NEWSWIRE) -- Presto Automation Inc. (Nasdaq: PRST) one of the largest drive-thru automation technology providers in the hospitality industry, today provided additional information to investors about its projected financial results for calendar year 2024.

Presto's Voice™ AI Solution Projected to Capitalize on Strong Momentum as Company Releases 2024 Projected Annualized Run Rate

SAN CARLOS, Calif., Dec. 01, 2023 (GLOBE NEWSWIRE) -- Presto Automation (NASDAQ: PRST ), an enterprise-grade AI and automation solutions provider to some of the nation's largest restaurant brands, today appointed Kat Hoffman-Flynt as Chief Operating Officer, effective immediately. Ms. Hoffman-Flynt brings more than 20 years of experience as an operational strategist, building strong customer relationships and scaling new deployments throughout her career. As Chief Operating Officer, she will be responsible for overseeing Presto's operations, while working to ensure the company achieves its goals and delivers excellence to Presto's customers.

Presto Names Kat Hoffman-Flynt Chief Operating Officer

PRST has dropped significantly after an initial hype phase due to a couple of unimpressive quarters. PRST is backed heavily by insiders and other large investors who want to see common shares succeed. Due to the heavy investor backing, I don't believe that PRST is at great risk of crippling levels of dilution seen with other small cap de-SPACs in similar financial shape.

Presto Automation: My Top AI Pick For 2024

Presto Automation Inc. (NASDAQ:PRST ) Q1 2024 Results Conference Call November 20, 2023 5:00 PM ET Company Participants Krishna Gupta - Chairman Xavier Casanova - CEO Nathan Cook - Interim CFO Conference Call Participants Mike Latimore - Northland Capital Markets Brian Dobson - Chardan Capital Markets Operator Hello, and welcome to Presto Automation's First Quarter 2024 Earnings Call. [Operator Instructions] I would now like to hand the conference over to [Gi Luvere] you may begin.

Presto Automation Inc. (PRST) Q1 2024 Earnings Call Transcript

First Quarter Revenue in Line with Guidance Presto Voice Continues Momentum and is Now Live at Over 400 Locations Additional Capital Raised from Common Stock Issuance to an Affiliated Long-Term Investor SAN CARLOS, Calif., Nov. 20, 2023 (GLOBE NEWSWIRE) --  Presto Automation Inc. (NASDAQ: PRST), one of the largest drive-thru AI and automation technology providers to the restaurant industry, today announced financial results for the 2024 fiscal first quarter ended September 30, 2023.

Presto Automation Announces Fiscal First Quarter 2024 Financial Results

SAN CARLOS, Calif., Nov. 17, 2023 (GLOBE NEWSWIRE) -- Presto Automation Inc.  (NASDAQ:  PRST ), one of the largest AI and automation technology providers to the restaurant industry, today announced it had entered into agreements with a Remus Capital-affiliated syndicate of investors to sell 7,000,000 shares of common stock of the company in a registered offering that the company anticipates will result in gross proceeds of approximately $7.0 million. This capital comes in addition to the previously disclosed $3 million invested by Cleveland Avenue, founded by Don Thompson, the former CEO of McDonald's Corporation, and a $3 million upsize of the company's existing credit facility with Metropolitan Partners Group. As part of the transaction, Remus Capital has appointed two additional directors to Presto's Board of Directors. Northland Capital Markets, Chardan, and The Benchmark Company are acting as the placement agents for the offering.

Presto Raises Capital from Remus Investor Group, Announces Addition of Two Board Members, and Significant Cost Reductions

SAN CARLOS, Calif., Nov. 13, 2023 (GLOBE NEWSWIRE) -- Presto Automation Inc. (NASDAQ: PRST ), one of the largest drive-thru automation technology providers in the hospitality industry, today announced that the Company will release its fiscal first quarter 2024 financial results on Monday, November 20, 2023, after the financial markets close.

Presto to Report Fiscal First Quarter 2024 Financial Results

SAN CARLOS, Calif., Oct. 23, 2023 (GLOBE NEWSWIRE) -- Presto Automation Inc. (Nasdaq: PRST ), one of the largest drive-thru automation technology providers in the hospitality industry, has signed new pilot agreements with two top major quick-service restaurant brands.

Presto Signs Voice AI Pilot with Top 10 QSR Drive-Thru Brand

SAN CARLOS, Calif., Oct. 20, 2023 (GLOBE NEWSWIRE) -- Presto Automation Inc. (Nasdaq: PRST ), an enterprise-grade AI and automation solutions provider to some of the nation's largest restaurant brands, today promoted Justin Foster to Chief Revenue Officer, effective immediately. Mr. Foster brings 15 years of experience leading go-to-market efforts at emerging high-growth technology companies. As Chief Revenue Officer, Mr. Foster will be responsible for all facets of the company's revenue generation, including growing Presto's footprint in the emerging voice AI market while retaining signed clients.

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