Presto Automation, Inc. - Common Stock (PRST)

New business fully capitalized to expand Drive-Thru Voice AI leadership

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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

Successful Pilots of Presto Voice™ with Pure AI and Spanish Language Capabilities

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

SAN CARLOS, Calif., May 14, 2024 (GLOBE NEWSWIRE) -- Presto Automation Inc. (NASDAQPRST), 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.

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

SAN CARLOS, Calif., March 14, 2024 (GLOBE NEWSWIRE) -- Presto Automation, Inc. (“Presto” or the “Company”) (NASDAQPRST), 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. The offering is expected to close on or about March 18, 2024, subject to the satisfaction of customary closing conditions.

SAN CARLOS, Calif., March 05, 2024 (GLOBE NEWSWIRE) -- Presto Automation Inc. (NASDAQPRST), announces that it is canceling its earnings call previously scheduled for 5 pm ET today. The company’s Form 10-Q for the quarter ended December 31, 2024 was filed on February 21, 2024 and the company will communicate business updates and other developments to the market when appropriate.

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.

SAN CARLOS, Calif., Feb. 29, 2024 (GLOBE NEWSWIRE) -- Presto Automation, Inc. (“Presto” or the “Company”) (NASDAQPRST), 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. The offering is expected to close on or about March 4, 2024, subject to the satisfaction of customary closing conditions.

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. Gupta, and other investors, involving the sale of $6.0 million of convertible subordinated notes (the “Notes”). One of the existing investors is also exchanging 3.0 million shares of the Company’s common stock which was purchased on November 21, 2023 for $3.0 million of Notes. Chardan acted as the placement agent for the offering.

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.

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.

SAN CARLOS, Calif., Dec. 05, 2023 (GLOBE NEWSWIRE) -- Presto Automation Inc. (Nasdaq: PRST) today announced it is escalating its activities to act on a previously reported (June 2022) favorable arbitration ruling from the Singapore International Arbitration Center related to a matter with its third-party subcontractor, XAC Taiwan, with respect to the legacy tablets used in its Touch business. Pursuant to the ruling, Presto was awarded approximately $11.1 million in damages.

SAN CARLOS, Calif., Dec. 01, 2023 (GLOBE NEWSWIRE) -- Presto Automation (NASDAQPRST), 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.

SAN CARLOS, Calif., Nov. 21, 2023 (GLOBE NEWSWIRE) -- Presto Automation (NASDAQPRST) announced it has appointed Steve Herbert as a Strategic Advisor for Presto Touch, Presto’s at-the-table self-serve payment and ordering technology business line. This appointment marks the intent to scale Presto Touch for the first time since the COVID-19 pandemic and a continued focus on maximizing value for Presto shareholders.

First Quarter Revenue in Line with Guidance

SAN CARLOS, Calif., Nov. 17, 2023 (GLOBE NEWSWIRE) -- Presto Automation Inc. (NASDAQPRST), 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.

SAN CARLOS, Calif., Nov. 13, 2023 (GLOBE NEWSWIRE) -- Presto Automation Inc. (NASDAQPRST), 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.

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.

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.