News Release

SAN CARLOS, Calif.--(BUSINESS WIRE)--Apr. 18, 2023-- Presto Automation Inc. (Nasdaq: PRST), one of the largest drive-thru automation technology providers in the hospitality industry, today announced that it will be presenting at the 2023 Restaurant Leadership Conference in Phoenix, Arizona this week. The conference, an annual event, is attended by senior executives from the top 1,500 leading chains in the restaurant industry.

Presto will showcase Presto Voice™, its industry-leading generative AI technology, which has transformed the drive-thru experience for both guests and operators.

Conference attendees can join Presto's President, Dan Mosher, and Chad Gretzema, President of Del Taco, for a panel discussion, "The Rise of AI in the Drive-Thru," on Wednesday, April 19, at 8:15 a.m. Mosher and Gretzema will explore the impact of enterprise-grade generative AI solutions on drive-thru operations, including its ability to improve order accuracy, optimize operations, reduce labor costs, and increase revenue. “By using generative AI, we create personalized and engaging experiences for drive-thru guests, which drives repeat business, lowers costs, increases revenue, and enhances customer loyalty,” said Dan Mosher, President of Presto.

Visit Presto's booth #300 to see a demo of generative AI optimizing the drive-thru and learn more about the innovative technology that is already deployed at hundreds of drive-thru locations nationwide.

"Our technology has the potential to revolutionize the entire restaurant industry," said Presto Interim CEO, Krishna Gupta. “We appreciate the strong investor interest yesterday, which we believe reflects our continued leadership in Enterprise AI applications for the restaurant industry. We remain focused on building our business for long-term fundamental-driven growth, and presenting at the Restaurant Leadership Conference reflects that focus.”

To schedule a live demo or learn more about Presto’s products, please contact mktg@presto.com or visit presto.com.

About Presto Automation Inc.

Presto (NASDAQ: PRST) provides enterprise-grade Voice, Vision, and Touch™ technologies to help hospitality businesses thrive while delighting guests. With over 380 million transactions processed, Presto is one of the largest labor automation technology providers in the industry. Founded out of MIT in 2008, Presto is headquartered in Silicon Valley in San Carlos, California and counts among its customers several of the largest restaurant chains in the United States.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements are typically identified by words such as “plan,” “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “should,” “would” and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. The forward-looking statements speak only as of the date of this press release or as of the date they are made. Except as otherwise required by applicable law, Presto disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Presto cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Presto. In addition, Presto cautions you that the forward-looking statements contained in this press release are subject to the following risks and uncertainties: our ability to manage our growth effectively, to sustain our recent revenue growth or attract new customers; the limited operating history with our new Vision and Voice products in a new and developing market; our ability to achieve revenue growth while our expenses increase; continued adverse impacts from COVID-19 (including as a result of global supply chain shortages); the loss of any of our three largest customers or a reduction in their business with us; our ability to improve and enhance the functionality, performance, reliability, design, security, or scalability of our platform to respond to customers’ evolving needs; our ability to protect the security of our customers’ information; changing privacy laws, regulations and standards, and our ability to comply with contractual obligations and laws related to data privacy and security; unfavorable conditions in the restaurant industry or the global economy, including with respect to food, labor, and occupancy costs; the availability of capital or financing on acceptable terms, if at all; financial covenants and other restrictions on our actions contained in our financing agreements that may limit our operational flexibility; the length and unpredictability of our sales cycles and the amount of investments required in sales efforts; material weaknesses in our internal control over financial reporting and, our ability to remediate these deficiencies; our ability to continue as a going concern; our ability to receive additional financing in a timely manner; shortages, price increases, changes, delays or discontinuations of hardware; our ability to maintain relationships with our payment processors; our reliance on computer hardware, licensed software and services rendered by third parties; U.S. laws and regulations (including with respect to payment transaction processing), many of which are unsettled and still developing, and our or our customers’ ability to comply with such laws and regulations; significant changes in U.S. and international trade policies that restrict imports or increase tariffs; any requirements to collect additional sales taxes or be subject to other tax liabilities that may increase the costs to our customers; our ability to adequately protect our intellectual property rights; claims by third parties of intellectual property infringement; our use of open-source software in our platform; and other economic, business, competitive and/or regulatory factors affecting Presto’s business generally as set forth in our filings with the Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230418006178/en/

Investors:
Adam Rogers, VP Investor Relations
investor@presto.com

Presto:
Justin Foster & Brian Ruby
media@presto.com

Source: Presto Automation Inc.