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Presto Automation (NASDAQ: PRST), a leading AI and automation technology provider, has teamed up with Taco John’s and Qu to enhance drive-thru operations via Presto Voice™ AI. The initiative aims to improve staff productivity, increase revenue through upsells, and enhance the customer experience. Presto Voice has been integrated with Qu’s commerce platform to streamline order processing and improve service speed and accuracy. The first pilot in Minnesota started in April 2024 and, due to positive results, will expand to Wyoming by August. Taco John’s plans to roll out the technology across its nearly 400 restaurants in 23 states.
Presto Automation (NASDAQ: PRST) has partnered with Taco John’s and Qu to pilot its Presto Voice AI in drive-thru operations at select Taco John’s restaurants. This AI technology enhances staff productivity, reduces labor costs, and improves guest experience by automating order-taking and offering customizable upsells. Initial deployment in Minnesota has shown positive results, leading to expansion to a second location in Wyoming by August. The integration with Qu's point-of-sale system ensures seamless data management and real-time order processing. If successful, Taco John’s plans to roll out Presto Voice to its franchised locations across 23 states.
Presto Automation (NASDAQ: PRST) announced its fiscal Q3 2024 financial results, highlighting significant developments in its Voice AI solution for drive-thrus. The company reported total revenue of $4.5 million but faced a net loss of $18.1 million and an adjusted EBITDA loss of $12.2 million. As part of its strategic pivot, Presto is winding down its Touch pay-at-table product to focus exclusively on the Presto Voice AI solution.
Recent business highlights include successful pilots of Presto Voice with Pure AI and a Spanish language feature in Southern California. Financially, the company secured $3 million in new financing and received a forbearance extension from its senior secured lender, Metropolitan Partners Group, until June 15, 2024, with potential extension until July 15, 2024, pending further capital raising. Presto projects Q4 2024 revenue to be between $1.6 million and $1.9 million.
Presto Automation has announced a pilot program for its Spanish Voice AI ordering feature, aimed at enhancing the drive-thru experience for Spanish-speaking customers. The new feature allows seamless switching between English and Spanish, making it more inclusive for diverse demographics. Currently, the feature is being piloted in Southern California with plans for further testing and broader rollout. Interim CEO Gee Lefevre highlighted that this development not only caters to more U.S. customers but also opens up international expansion possibilities. This update is part of Presto Voice, designed to streamline restaurant operations, improve customer satisfaction, and boost revenue.
Presto Automation (NASDAQ: PRST), a major provider of AI and automation technology for the restaurant industry, will release its fiscal third quarter 2024 financial results on May 20, 2024, after market close.
The company's management will discuss these results and other business highlights in a conference call scheduled for May 22, 2024, at 5:00 p.m. Eastern Time.
Interested parties can register for the call via the Presto Investor Relations website, where a live audio webcast and archived replay will be available.
Presto Automation Inc. introduces Presto Voice™ with Pure AI, an autonomous Voice AI ordering feature for drive-thru operators. The new technology aims to streamline operations, enhance the customer experience, and reduce delays by providing a direct escalation path to restaurant staff when needed.
