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.

SAN CARLOS, Calif., Oct. 16, 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 announced its participation at The ThinkEquity Conference in New York, New York.

Presto to Participate at The ThinkEquity Conference

Presto Automation Inc. (NASDAQ:PRST ) Q4 2023 Earnings Conference Call October 10, 2023 5:00 PM ET Company Participants Adam Rogers - Head of Investor Relations Xavier Casanova - Chief Executive Officer Stanley Mbugua - Chief Accounting Officer Conference Call Participants Brian Dobson - Chardan Capital Markets Michael Latimore - Northland Capital Markets Operator Good day, and thank you for standing by. Welcome to the Presto Automation Inc. Fourth Quarter and Full-Year 2023 Earnings Conference Call.

Presto Automation Inc. (PRST) Q4 2023 Earnings Call Transcript

SAN CARLOS, Calif., Oct. 10, 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 announced:

Presto Announces FY2023 Financial Results, Increased Ownership Commitment from a Major Existing Shareholder, Extended Shareholder Lock-ups, and a new Interim CFO

SAN CARLOS, Calif., Oct. 02, 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 fourth quarter and full year 2023 financial results on Tuesday, October 10, 2023, after the financial markets close.

Presto to Report Fiscal Fourth Quarter and Full Year 2023 Financial Results

SAN CARLOS, Calif., Sept. 27, 2023 (GLOBE NEWSWIRE) -- Presto Automation Inc. (NASDAQ: PRST), one of the largest drive-thru automation technology providers in the hospitality industry, today announced a newly signed agreement that demonstrates the company's continued momentum and strengths in technology, enterprise sales, integration, and implementation.

Presto signs CKE Franchise StarCorp's 58 Carl's Jr. Locations

SAN CARLOS, Calif., Aug. 17, 2023 (GLOBE NEWSWIRE) -- Presto Automation Inc. (NASDAQ: PRST), one of the largest drive-thru automation technology providers in the hospitality industry, today shared that following its entering into various Master Services Agreements with top QSR brands, that it has now signed agreements with 13 franchise groups that collectively own and operate more than 500 locations nationwide.

Presto Announces Signed Agreements with 13 QSR Franchise Groups Representing More than 500 Locations Combined

SAN CARLOS, Calif., Aug. 01, 2023 (GLOBE NEWSWIRE) -- Presto Automation Inc. (NASDAQ: PRST), the largest drive-thru automation technology provider in the hospitality industry, announced today that Xavier Casanova has been appointed as Chief Executive Officer, effective immediately. After leading the company as Interim CEO, Krishna Gupta will return to his role as Chairman of the Board of Directors.

Presto Names Xavier Casanova as New CEO

CAMBRIDGE, Mass.--(BUSINESS WIRE)--Krishna K. Gupta Resumes Role as Chairman of Presto Automation after 4 months as Interim CEO.

Krishna K. Gupta Resumes Role as Chairman of Presto Automation After 4 Months as Interim CEO

Enhances Product Development and Engineering Capabilities with India-based Team Enhances Product Development and Engineering Capabilities with India-based Team

Presto Expands International Presence

Presto Automation, a labor automation technology provider in the hospitality industry, has seen its stock rise due to a surge in interest in AI from restaurant owners. The company's AI tools, such as Presto Voice, are used to enhance service quality and reduce costs in drive-through operations, with the potential for significant annual recurring revenue. Despite challenges in automating the drive-through ordering process and maintaining profitability, Presto's advanced positioning and proprietary technology offer the potential for growth and increased contract value.

Presto Automation: ChatGPT-Style AI For The Drive-Thru

Marc Andreessen said, "Software is eating the world," which seems doubly true with the rapid rise of artificial intelligence. AI's latest victim is the fast food drive-thru.

Can Presto Automation Bring AI to the Drive-Thru?

LOS ANGELES, CA / ACCESSWIRE / May 26, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Presto Automation Inc. ("Presto" or "the Company") (NASDAQ:PRST) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.

SHAREHOLDER ACTION NOTICE: The Schall Law Firm Announces it is Investigating Claims Against Presto Automation Inc. and Encourages Investors with Losses to Contact the Firm

LOS ANGELES, CA / ACCESSWIRE / May 24, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Presto Automation Inc. ("Presto" or "the Company") (NASDAQ:PRST) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.

INVESTOR ACTION NOTICE: The Schall Law Firm Announces it is Investigating Claims Against Presto Automation Inc. and Encourages Investors with Losses to Contact the Firm

SAN CARLOS, Calif., May 22, 2023 (GLOBE NEWSWIRE) -- Presto Automation Inc. (NASDAQ: PRST ), one of the largest drive-thru automation technology providers in the hospitality industry, today announced it had entered into commitments for an approximately $10 million common equity PIPE. In parallel, Presto has negotiated certain changes to its credit facility with its lender, Metropolitan Partners Group (MetPG), including a decrease of the minimum cash covenant to $10 million effective upon the closing of the PIPE. The PIPE is expected to close on or around May 24, 2023. Chardan served as financial advisor to Presto.

Presto Unlocks Approximately $20M of Cash in PIPE Transaction

Presto Automation Inc. (NASDAQ:PRST ) Q3 2023 Results Conference Call May 18, 2023 5:00 PM ET Company Participants Adam Rogers - Head of Investor Relations Krishna Gupta - Interim Chief Executive Officer Ashish Gupta - Principal Financial Officer Conference Call Participants Greg Pendy - Chardan Operator Hello. Thank you for standing by.

Presto Automation Inc. (PRST) Q3 2023 Earnings Call Transcript

Continues Momentum of Drive-Thru Voice AI Automation by Adding Hardees and Carl's Jr. as Customers Continues Momentum of Drive-Thru Voice AI Automation by Adding Hardees and Carl's Jr. as Customers

Presto Announces Fiscal Third Quarter 2023 Financial Results

NEW YORK--(BUSINESS WIRE)--ICR, a leading strategic communications and advisory firm, is pleased to announce that Krishna Gupta, Chairman and interim CEO, Presto Automation Inc. (Nasdaq: PRST), one of the largest drive-thru automation technology providers in the hospitality industry, recently appeared on Episode 75 of ICR's “Welcome to the Arena” podcast. Welcome to the Arena is hosted by Tom Ryan, Co-Founder & CEO of ICR. Tom spoke with Krishna about his start in venture capital and invest.

ICR Hosts Presto's Krishna Gupta on the Welcome to the Arena Podcast

SAN CARLOS, Calif., May 15, 2023 (GLOBE NEWSWIRE) -- Presto Automation Inc. (NASDAQ: PRST ), one of the largest drive-thru automation technology providers in the hospitality industry, today announced it will release its financial results for the fiscal third quarter 2023 results on Thursday, May 18, 2023 after the financial markets close versus the previously announced date of May 15, 2023 . Presto is revising the date of its earnings press release and conference call for reasons related to the time required to complete quarterly review procedures.

Presto Moves Fiscal Third Quarter 2023 Earnings Call to May 18

LOS ANGELES, CA / ACCESSWIRE / May 14, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Presto Automation Inc. ("Presto" or "the Company") (NASDAQ:PRST) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.

ONGOING INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Presto Automation Inc. and Encourages Investors with Losses to Contact the Firm

LOS ANGELES, CA / ACCESSWIRE / May 12, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Presto Automation Inc. ("Presto" or "the Company") (NASDAQ:PRST) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.

INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Presto Automation Inc. and Encourages Investors with Losses to Contact the Firm

NEW YORK , May 10, 2023 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Presto Automation, Inc. (NASDAQ: PRST).  Such investors are advised to contact Robert S.

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Presto Automation, Inc. - PRST

SAN CARLOS, Calif., May 09, 2023 (GLOBE NEWSWIRE) -- Presto Automation Inc. (NASDAQ: PRST ), one of the largest drive-thru automation technology providers in the hospitality industry, today announced its participation at the 18th Annual Needham Technology & Media Conference in New York City.

Presto to Participate at Needham Technology & Media Conference

The partnership with CKE Restaurants, the parent company of Carl's Jr. and Hardee's, is the largest launch to date of Presto Voice.

Carl's Jr. and Hardee's to roll out Presto's A.I. drive-thru ordering nationwide

SAN CARLOS, Calif., April 26, 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 third quarter 2023 financial results on Monday, May 15, 2023 after the financial markets close.

Presto to Report Fiscal Third Quarter 2023 Financial Results

LOS ANGELES--(BUSINESS WIRE)---- $PRST #PRST--The Schall Law Firm Announces it is Investigating Claims Against Presto Automation Inc. and Encourages Investors with Losses to Contact the Firm.

INVESTIGATION REMINDER: The Schall Law Firm Announces it is Investigating Claims Against Presto Automation Inc. and Encourages Investors with Losses to Contact the Firm

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