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.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Presto Automation's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Presto Automation's position in the market.
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
33.13%
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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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-31.03%
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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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-31.03%
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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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.46%
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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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-15%
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Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.87%
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Rhea-AI Summary
Presto Automation promotes Justin Foster to Chief Revenue Officer
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.73%
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Rhea-AI Summary
Presto Automation Inc. to present at The ThinkEquity Conference
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.42%
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Rhea-AI Summary
Presto Automation Inc. announces Full Year 2023 revenue of $26.1 million, Presto Voice™ gaining traction with annual revenue opportunity reaching approximately $17 million
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-9.36%
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Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
16.78%
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Presto Automation Inc.
Nasdaq:PRST
PRST Rankings
PRST Stock Data
16.98M
56.91M
25.09%
20.14%
3.2%
Electromedical and Electrotherapeutic Apparatus Manufacturing
Manufacturing
United States of America
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