Presto Automation, Inc.

For fiscal third quarter 2024, Presto reported revenue of $4.5 million versus $6.6 million in the prior-year quarter. Revenue included $2.2 million of platform revenue and $2.3 million of transaction revenue. Operating expenses were $15.5 million versus $15.0 million a year ago; R&D decreased 52% to $2.7 million, sales and marketing was $2.0 million, and G&A increased 45% to $10.8 million. Adjusted EBITDA loss was $12.2 million, compared with a loss of $9.7 million in the same quarter last year. For fiscal fourth quarter 2024, management guided revenue to $1.6 million to $1.9 million.

Gee Lefevre said his focus is on the customer, commercial strategy, and executing a sharper product and operating plan around Voice AI. He emphasized that Presto is now singularly focused on Voice AI after deciding to exit the Touch business, which he said should improve innovation speed and reduce costs. His tone was confident but cautious, with repeated emphasis on the need to fix the capital structure and complete the debt transfer / financing process.

Stanley Mbugua highlighted cost control actions, especially the Touch wind-down, tighter headcount management, and vendor cost discipline. He said R&D fell 52% to $2.7 million due to lower payroll and stock-based compensation from reduced headcount, while G&A rose 45% to $10.8 million because of legal, audit, and public company compliance costs. He also noted adjusted EBITDA loss of $12.2 million and gave Q4 revenue guidance of $1.6 million to $1.9 million.

There was no analyst Q&A, so no questions were asked or addressed. The call ended immediately after prepared remarks and the operator noted no questions were in the queue. As a result, the key investor focus remained management’s own comments on financing, the Touch wind-down, and early Voice AI rollout progress.