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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.

Rhea-AI Summary
Presto Automation Inc. (NASDAQ: PRST) has entered into agreements with a Remus Capital-affiliated syndicate of investors to sell 7,000,000 shares of common stock, resulting in gross proceeds of approximately $7.0 million. The company also announced a $3 million investment by Cleveland Avenue and a $3 million upsize of the company’s existing credit facility with Metropolitan Partners Group. Additionally, Presto will implement a reduction in force of its global full-time employee base by approximately 17% to reduce monthly expenditures by approximately $0.4 million, rising to approximately $1.2 million after approximately eight months. Presto's CEO, Xavier Casanova, emphasized the funding and efficiency initiatives will enable the company to continue leaning into the growth of its Presto Voice AI platform and maximize shareholder value with Presto Touch.
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Rhea-AI Summary
Presto Automation Inc. (NASDAQ: PRST) to Release Fiscal First Quarter 2024 Financial Results on November 20, 2023. Presto, a leading drive-thru automation technology provider in the hospitality industry, will host a conference call to discuss the financial results and business highlights. Investors can register for the conference call at https://investor.presto.com/news-events/events.
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Presto Automation Inc. signs new pilot agreements with two major quick-service restaurant brands, becoming the only Voice AI vendor after previous vendors failed. Presto's robust Voice system achieves an 85% non-intervention rate on average and has reached up to 95% in certain locations.
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Presto Automation promotes Justin Foster to Chief Revenue Officer
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Presto Automation Inc. to present at The ThinkEquity Conference
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Presto Automation Inc. announces Full Year 2023 revenue of $26.1 million, Presto Voice™ gaining traction with annual revenue opportunity reaching approximately $17 million
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Presto Automation Inc. will release its fiscal Q4 and full year 2023 financial results on October 10, 2023. The earnings press release and conference call were delayed due to annual review procedures. Conference call details available at https://investor.presto.com/news-events/events.
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Presto Automation Inc. announces new agreement with CKE Franchise Group StarCorp for Voice AI implementation in 58 Carl’s Jr. locations. Achieved 91% upsell offer rate during successful pilot period. Joint rollout planned in coming months. Positive feedback from customers and guests. Expanded partnership a proof of benefits of Voice solution.
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Rhea-AI Summary
Presto Automation Inc. has signed agreements with 13 franchise groups that collectively own and operate over 500 locations nationwide to deploy its drive-thru automation solution. This represents the largest rollout potential in the drive-thru automation segment. The estimated serviceable addressable market for this space is $2.25B in the United States alone. Presto Voice customers have experienced positive results, including increased check sizes, labor redeployment, and higher upselling rates.
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Presto Automation, Inc

Nasdaq:PRST

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