PRST Presto Technologies Inc

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.

One of Presto’s new pilot drive-thru customers is a Top 10 QSR chain, ranked by annual revenues of restaurants that include a drive-thru concept, while the other is part of a leading global restaurant franchising company that manages over 2,000 locations in total. In both cases, Presto is now the only Voice AI vendor in an active pilot after two prior voice AI vendors failed to perform adequately beyond a pilot stage.

In one case, Presto displaced an incumbent who was unable to deliver high order accuracy. Presto's robust Voice system achieves an 85% non-intervention rate on average and has reached up to a 95% non-intervention rate in certain locations1 which is a key competitive advantage.

"As an enterprise-grade solution, Presto Voice™ has demonstrated it is the best choice for large QSR chains,” said Xavier Casanova, CEO of Presto. “Our unparalleled strength in technology development and our ability to roll out large-scale implementations in the restaurant industry sets Presto apart, and recent customer contracts and growth of installed locations tangibly illustrates Presto’s leadership in the industry.”

These new pilot agreements come alongside Presto signing CKE Franchise Group StarCorp and all of its 58 Carl’s Jr. locations, where it will be the only Voice AI vendor. After achieving incremental upsell revenue for StarCorp during its pilot period, the companies are now rolling out the technology at select additional locations over the coming months.

About PrestoPresto (Nasdaq: PRST) provides enterprise-grade AI and automation solutions to the restaurant enterprise technology industry. Our solutions are designed to decrease labor costs, improve staff productivity, increase revenue, and enhance the guest experience. We offer our AI solution, Presto Voice, to quick service restaurants (QSR) and our pay-at-table tablet solution, Presto Touch, to casual dining chains. Some of the most recognized restaurant names in the United States are among our customers, including Carl’s Jr., Hardee’s, Del Taco, and Checkers for Presto Voice and Applebee’s, Chili’s, and Red Lobster for Presto Touch.

ContactInvestors:Adam RogersVP Investor Relationsinvestor@presto.com

Media:Brian Rubymedia@presto.com

1 Non-intervention rate refers to intervention by on-site restaurant staff (not including interactions that do not result in an order such as pick-ups from third party delivery services).