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Presto Automation, Inc - PRST STOCK NEWS

Welcome to our dedicated page for Presto Automation news (Ticker: PRST), a resource for investors and traders seeking the latest updates and insights on Presto Automation stock.

Presto Automation, Inc. (PRST) delivers enterprise-grade AI solutions transforming drive-thru operations for quick-service restaurants. This page provides official news updates on product innovations, strategic partnerships, and operational milestones shaping the future of restaurant automation.

Access curated press releases and announcements detailing PRST's advancements in voice AI technology, labor optimization strategies, and customer experience enhancements. Investors and industry professionals will find timely updates on earnings reports, system deployments, and technology integrations critical to evaluating the company's market position.

Key content includes developments in Presto Voice capabilities, multilingual support expansions, and efficiency metrics for QSR operators. All materials are sourced directly from the company or verified partners to ensure accuracy and relevance.

Bookmark this page for streamlined access to PRST's evolving role in restaurant automation. Check regularly for insights into how AI-driven solutions are redefining order accuracy, operational costs, and scalability in the QSR sector.

News

Presto Automation cancels Fiscal Second Quarter 2024 earnings call

Rhea-AI Summary
Presto Automation Inc. (PRST) cancels its earnings call scheduled for today. The Form 10-Q for Q4 2024 was filed on February 21, 2024, with business updates to follow.
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-28.57%
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Presto to Report Fiscal Second Quarter 2024 Financial Results

Rhea-AI Summary
Presto Automation Inc. (Nasdaq:PRST) will release its fiscal second quarter 2024 financial results on March 5, 2024. The company, a key player in drive-thru automation technology for the hospitality industry, will host a conference call to discuss the results and business highlights.
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-4.15%
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Presto Automation Announces Pricing of Approximately $2.1M Registered Direct Offering

Rhea-AI Summary
Presto Automation, Inc. (NASDAQ: PRST) announces a securities purchase agreement with institutional investors for 8,533,000 shares of common stock in a registered direct offering at $0.25 per share.
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-21.36%
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Presto Automation Raises $6.0 Million and Wins Final Appeal in Case Against XAC

Rhea-AI Summary
Presto Automation Inc. secures $6.0 million financing, led by existing investors, and announces significant developments in AI technology for drive-thru restaurants. The company received a favorable verdict in a legal case, and a key executive resigned. Presto also disclosed the need to raise an additional $6.0 million by March 8, 2024, to comply with lender requirements.
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12.06%
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Presto Announces Stanford PhD and AI technologist Debarag Banerjee as Head of Voice Engineering

Rhea-AI Summary
Presto Automation Inc. (Nasdaq: PRST) announces Debarag Banerjee as the new Head of Voice Engineering. With over 25 years of experience in AI platforms and techniques, 15 issued patents, and a PhD from Stanford University, Debarag brings a wealth of expertise to the team. His strategic vision and leadership align with the company's commitment to driving growth and exceeding customer expectations.
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11.5%
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Presto’s Voice™ AI Solution Projected to Capitalize on Strong Momentum as Company Releases 2024 Projected Annualized Run Rate

Rhea-AI Summary
Presto Automation Inc. (PRST) is a leading drive-thru automation technology provider in the hospitality industry.
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0.81%
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Presto escalates activities to collect up to $11.1M of non-dilutive cash awarded to the company from XAC in Singaporean ruling

Rhea-AI Summary
Presto Automation Inc. (Nasdaq: PRST) is actively pursuing the enforcement of an $11.1 million arbitration ruling against its third-party subcontractor, XAC Taiwan, related to legacy tablets used in its Touch business. The ruling was affirmed by the High Court in Singapore and is now pending a final appeal in January 2024. The company aims to collect the awarded damages to support its non-dilutive cash position for 2024.
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-3.36%
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Presto Names Kat Hoffman-Flynt Chief Operating Officer

Rhea-AI Summary
Presto Automation (PRST) appoints Kat Hoffman-Flynt as Chief Operating Officer, bringing over 20 years of experience in operational strategy and customer relationship building. As COO, she will oversee operations and work towards achieving company goals. CEO Xavier Casanova praises her dedication and leadership. Hoffman-Flynt's previous roles include executive positions at Gordon Biersch Brewery Restaurants and CraftWorks Restaurants & Breweries, Inc. She aims to leverage her customer perspective to help restaurant operators succeed and is excited to lead the team in driving success.
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33.13%
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Presto Welcomes Industry Luminary Stephen Herbert as a Strategic Advisor for Presto Touch

Rhea-AI Summary
Presto Automation (PRST) appoints Steve Herbert, former Chairman and CEO of USA Technologies, as Strategic Advisor for Presto Touch, their at-the-table self-serve payment and ordering technology business line. This move signifies the company's focus on scaling Presto Touch after the COVID-19 pandemic and maximizing value for shareholders. Steve Herbert's track record of 40 consecutive quarters of growth and experience in the retail industry positions him to guide Presto Touch's transition to the next-generation Flex product and define a product strategy to maximize shareholder value.
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-31.03%
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News

Presto Automation Announces Fiscal First Quarter 2024 Financial Results

Rhea-AI Summary
Presto Automation Inc. (NASDAQ: PRST) announced its first quarter financial results, in line with guidance, reflecting a positive start to their fiscal year. The company highlighted the momentum of their Presto VoiceTM AI solution, now live at over 400 locations. Additionally, they raised additional capital through common stock issuance to an affiliated long-term investor, indicating confidence from existing shareholders. The CEO emphasized the need to reduce costs, improve profitability, and streamline operations to position the company for long-term success. He expressed optimism for 2024, expecting a definitive step-change in growth, as the market shows increased receptiveness to technology-based solutions, particularly in response to market realities like the California $20 minimum wage regulation.
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-31.03%
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Presto Automation, Inc

Nasdaq:PRST

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PRST Stock Data

397.47k
256.69M
12.49%
4.11%
1.15%
Software - Application
Services-prepackaged Software
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United States
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