Exhibit 99.1
1 i n v es t o r .p r es t o . c o m N e xt Ge n e r ation En t e r p r ise G r a de AI a n d A u t omation Solutions f or th e Restau r ant In dust r y
2 SPECIAL NOTE REGARDING FORWARD - LOOKING STATEMENTS This presentation, and information provided during any discussion accompanying this presentation, contain forward - looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, and are based on our management’s beliefs and assumptions and on information currently available to our management. Forward - looking statements include information concerning our possible or assumed future results of our business and statements regarding our financial condition, results of operations, liquidity, plans and objectives. Forward - looking statements include all statements that are not historical facts and in some cases can be identified by terminology such as “believe,” “may,” “anticipate,” “estimate,” “continue,” “intend,” “should,” “plan,” “expect,” “predict,” “project,” “potential,” “will,” or the negative of these terms or other similar expressions that convey uncertainty of future events or outcomes. These statements are based on the beliefs and assumptions of our management based on information currently available to management. Such forward - looking statements are subject to risks, uncertainties and other important factors that could cause actual results and the timing of certain events to differ materially from future results expressed or implied by such forward - looking statements. Factors that could cause or contribute to such differences are discussed in the section titled “Risk Factors” included in our Annual Report on Form 10 - K for the year ended June 30, 2023 filed with the SEC on October 11, 2023, as amended by Amendment No. 1 on Form 10 - K/A filed with the SEC on October 12, 2023 (the “2023 Form 10 - K”), and other risk factors detailed from time to time in filings with the SEC. Our ability to predict the results of our operations or the effects of various events on our operating results is inherently uncertain. Therefore, we caution you to consider carefully the matters described under the caption “Risk Factors” and certain other matters discussed in this prospectus supplement, the accompanying prospectus and the documents incorporated by reference herein and therein, and other publicly available sources. THIS PRESENTATION INCLUDES FORWARD - LOOKING STATEMENTS, AND THE DISCLAIMER SHOULD BE READ CAREFULLY Sa f e Ha r bor Sta t e m ent Such factors and many others beyond the control of our management could cause our actual results, performance or achievements to differ materially from any future results. performance or achievements that may be expressed or implied by the forward - looking statements. Unless we are required to do so under U.S. federal securities laws or other applicable laws, we do not intend to update or revise and forward - looking statements.
3 T h e Challe n ges I N T R O D U C I N G P R E S T O A U T O M A TI O N Solutions Market Oppo r tuni t y Current C us t o m e r s We are well - placed to scale with many of o ur current customers with their complex and diverse ownership models 58% o f U S r estau r ant oper a t o r s s a y tha t a doptin g technology - enabled solutions t o impr o v e operation s will b e c om m on $ 3.0 B Se r vi c e able a dd r essable ma r k et si z e in t h e US an d C an a da 2 1M+ Restau r ant i ndust r y job openi n gs in t h e US in Jun e 2 0 23 W e o f f er t w o solutions: $17m ‘ e xpandabl e ’ annual r e venue opportunity on P r es t o V oi c e if w e depl o y with franchisees that have currently signed a mast er servi c e or pilo t agreement. $100m+ ‘app roac habl e ’ annual r e venue opportunity on P r es t o V oi c e if w e depl o y a t loc a tions o f r estau ra n t g r oups th a t h a ve a mast er servi c e or pilo t ag r eeme n t. T he QSR and Casu a l D ining segme n t s a r e experiencing: • H igh labor costs • H igh st a ff tu r n o ver • A need t o dri v e higher o r der v alues • A need t o dri v e l o y alty and engagement • A need t o dri v e labor e fficiency P r es t o V oi c e O u r V oi c e AI solution for QS R dri v e - th ru operators. P r es t o T ou ch 1 O u r p a y - a t - t a ble tablet solutions for Casual Dining chain. I n 2024 w e pla n to exit touch. Source(s): “1m job openings” United States Bureau of Labor Statistics, “58%” National Restaurant Association , “$3.0bn” Presto analysis. Note(s): 1. Consistent with our prior disclosure, we expect to engage in a sale, partial sale or wind - down of the Presto Touch business in the coming months. We estimate that this would reduce our monthly expenditures by approximately $0.3 to $0.7 million, partially offset by one - time expenses. We have not adopted any specific alternative and intend to pursue an approach that offers the greatest benefit for our shareholders and allows us to focus our efforts on our Voice business 2. Calculated by multiplying the number of QSRs and Casual Dining restaurants in US and Canada by Presto’s average subscription pricing for Voice and Touch respectively
4 While g r o win g an d r obust , the restaurant industry faces significant operating challenges. Source(s): “30%” Notch Financial; “83%” is Alignable Research Center Labor Shortage Report 2022 Labo r costs h a ve his t orically a c cou n t ed for app r o xim a t ely 30% o f sa l es in r estau ra nts, and r e c e n t labor i nfla tion has e xa c erb a t ed the challenge. T h e r e s t a u r a n t i nd us t r y h a s e x p er i ence d c o n s i s t e n t l y h i g h t u rn o ve r r a t e s a n d i n 202 2 , 8 3 % o f s m a l l re s t a u r an t s i n d i c a t e d d i ff i c u l t l y f i l l i n g t h e i r o pe n r o l e s . I mp r o ving th r oughput enhan c es th e guest e xperien c e (l o w er w ait & deli v ery time s ) and drives revenue. G ene r a ting upsell is a k e y l e v er for inc r easing order size, however, restaurant employees often a t t em p t up s ells in c onsis t e n tl y , wit h mi x ed r esults . A ctiv ely enga g ed custome r s can spend significantly more compared t o p r e - l o yalty beh a vio r . I n c r e asi n g L abor C ost C om b ati n g High Staff T u r n o v er A c hi e vi n g Hig h er Efficiency in Drive - thru Ge n e r ati n g Hig h er A v e r a ge O r der V alues D r ivi n g L o y a l t y a n d En g a ge m ent R e s t a u ra n t o p e r a t o r s ar e t a c k lin g a m y r i a d o f c ha l l e n g e s
5 P r es t o V oi c e P r es t o T ouc h 1 Voice AI solution for Quick Service R estau r a n t ( QSR) dri v e - thrus O ur g r o wth engine C ompl e t es c ompl e x o r de r s with g r e a t er a c cu r acy and mo r e c onsis te n t upsel l wit h limi t ed onsi te r estau r a n t staff intervention Generates increased revenue through upsellin g and f as t er th r ough - put, while allowing staff to focus on order a c cu r acy and r edu c e deli v ery times P a y - a t - table solutio n f or Casua l D ining chains O ur legacy business Provides self - service ordering, p a yme n t p r o c essing, gaming, and personalized guest experiences Allows restaurant to operate fewer st a f f , enhan c e l oyalt y , and gain valuable guest insights Note. 1. We expect to engage in a sale, partial sale or wind down of our Presto Touch business in the coming months W e o f f e r t w o s o l u t i o n s t o a d d r e s s th e r e s t a u r a n t industry’s challenges: Our growth engine P r e s t o V oi c e an d o u r l e g a c y s o l u t i o n P r e s t o T o u c h
6 KEY FEATURES OF PRESTO TOUCH AND CUSTOMER BENEFITS: • R edu ces the ris k o f o r der mista k es and langua g e barrie r s as guests ca n o r der di r ectly through the tablet, using a displ a y in thei r chose n langua g e • I nc r ease s s p eed o f servi c e with guests able t o o r der wit h out w aiting for a ser v er • A ut om a t ed p r om p ts encou r a g e upsell and additional pu r chases • S peeds u p table turn o ve r , all o wing for g r e a t er guest th r oughput • Checks can be closed at the table, on - demand, inc r easin g c onsumer satisfaction • M o r e se c u r e t r ansa c tions wit h p a yme n t to k eniz a tion and encry p tion included wit h in th e d e vi c e • I mp r o v es guest e xperien c e b y p r o viding e n t ertainme n t, par ticular ly all o wing fam ilies to k eep childr en o c cupie d and engaged • G ames and e n t ertainm e n t p r ovide a unique o f f ering to guests, inc r easing c onsum er r e t e n tion • B y ensuring guests a r e enga g ed customers may increase their o r de r v alue • D ri v es inc r ease d u p ta k e o f l o y alty p r o gr am s wit h au tom a t ed p r om p ts and seamless signups • I mp r o v es b rand r e c o gnition b y using customized communication styles and messa g es t o c onnect wit h guests Guests can e asily b r o w se m enus an d pla c e o r de r s th r ough th e tablet T ablets enable c onta c tless p a ym ent at th e table, an d all o w guests t o split bills F or a small f ee, guests can c h oose f r om, an d pl a y gam es on th e tablet Guests can opt in t o lo y a l t y p r og r ams an d r edeem r e w a r ds Self - se r vi c e o r de r i n g P a y m ent pr o c essi n g Buildi n g e n g a ge m ent P r emium gami n g P r e s t o T o u c h i s a p a y - a t - ta b l e ta b l e t s o l u t i o n for Casual Dining chains - it has four key features
7 This video can also be viewed here: youtu.be/81aOLnZBrco P r es t o V oi c e - V ideo O v e r vi e w
8 P r es t o V oi c e d r i v es ROI f or its cus t o m e r s in 3 c o r e ways S o u r ce ( s ) : “ 8 0 % ” a n d “ 3 5 % ” P r e s t o a n a l y s i s A ll o w s r estau ra n t st a ff to be utilized in the restaurant to improve customer satisfaction and drive in - s t o r e r e v enue. R eduction in st a ff v acancies and st a ff t r aining costs as r estau ra n t s a r e less r elia n t on st a ff for dri ve - thru. O u r t echnol o gy - human interface results in mo r e a c cu r a t e o r de r s, ope r a t ed a t a mo r e consis t e n t r a t e, r esulting in consis t e n t th r oughput in the drive - thru lane . W e o f f er upsell s on app r o xim a t ely 80% o f dri v e - thru o r de r s and th e y a r e a c c e p t ed b y guests 35% o f th e time, r esulting in increased revenue. 1. Improved utilization of labor 2. Consistent drive - thru th r oughput a n d o r der a c cur a c y 3. Incremental r e v enue f or c onsis t ent a n d eff e c ti v e upselli n g
9 P r es t o ’ s p r op r ieta r y V oi c e AI solution is un de r pinned b y a P r es t o b o x an d a c loud - b ased AI t e c hn ology solution Presto Voice greets guests, takes orders, and integrates with the restaurants point - of - sale system for processing D ri v e - th ru guests a r e g r e e t ed b y and speak t o th e r estau ra n t ’ s spea k er whic h is c onnec ted t o our Presto box T he b o x is lin k ed t o our cloud - based AI t echnolo gy solution, which takes the order, populates the order in th e r estau ra n t ' s poin t o f sale (PO S ) s ys t em... ... and deli v e r s th e o r der i n t o th e r estau ra n t ’ s Kit chen D ispl a y S ys t em for p r o c essing, all o win g st a ff t o build o r der while the system finalizes the order D ri v e - thru guest a r r i v es Guest is gi v en t h eir o r der b y r estaur ant staff 1 2 3 1 3 2
10 THE K E Y ELEMEN T S OF OUR AI T E CHNO L OGY SO L U TION C ONSI S T OF: P r es t o V oi c e relies on an innovative combination of machine learning and human collaboration to accurately collect customer o r de r s a n d f eed th r ough t o t h e r estau r ant POS T h e P r es t o b o x O u r P r es t o b o x is c onnec ted to th e r estau ra n t ’ s e xisting spea k er b o x, whic h has a mic r ophone to capture spo k en o r de r s for p r o c essing in complex environments. Automatic Speech Recognition (ASR) e n gin e D eciphe r s spo k en orders and converts into text for p r o c essing, including from regional dialects and in challenging audio environments. T e x t - t o - Spee c h ( T T S) e n gin e Converts the t e xt output i n to a hum an - li k e voice for interaction with guests. Natural Language Understanding (N L U) t ec h n ology Analyzes text and deciphers the meanin g t o best ide n tify th e chosen menu item and follo w - u p r esponse. Restaurant P oint of Sale (POS) s y s t em Generated orders a r e popul a t ed i n to th e r estau ra n t ’ s P O S s ys t em, b e f o r e being processed into the r estau ra n t ’ s Kit chen D ispl a y S ys t em. Human - in - t he - L oop (HITL) O u r solutions us e a c ommon app r oach r e f er r ed t o as HI T L to ensu r e th e desi r ed l e vel o f a c cu r acy in o r der takin g is achi e v ed. O ur s ys t ems cur r e n tl y us e a P r es t o hum an a g e n t t o e n t e r , r e vie w , and c or r ect o r der r e c ei v ed b y P r es t o V oi c e and ma k e su r e w e gua r a n t ee industry leading l e v els o f a c cu r ac y .
1 1 Past pr ogr ess Q 2 ‘24 2 Q 3 ' 24 2 Q4 ‘24 2 Summa r y of P r es t o ’ s V oi c e matu r i t y Implementing our a g e n t efficiency p r o g ram and strengthening our AI ac curacy D rivin g w eekly improvements in AI ac cur acy and depl oying AI ac r oss li ve stores Increasing au tom a tion o f o r de r s th r ough a str on g er AI engine Realizing inc r emen tal AI gain s th r ough ta r g e t ed p r oduct development I n vesting and prioritizing e f f orts t o scale cust omers a t positi v e sit e margins T a r ge t ed % of o r de r s processed with no Presto human agent interventio n 3 L ess than 30% 30% 50% 60% 7 0 % Targeted site margins 3 Negative Near b reak even Positive Positive Highly P ositi v e A s w e c ontinue t o depl o y our AI t e ch n ology a n d r edu c e P r es t o human a gent h ou r s, w e seek t o i n c r ease si t e ma r gins Source (s ) : Prest o analysis Note(s): 1. Enhanced AI capability c urrently being rolled out at locations that use our AI technology. Expected to be completed by end of Q1'24 2. Calender years 3. Targeted percentage of orders processed with no Presto human agent intervention and targeted site margins are not projections or forecasts and certain occurences, either in our business or industry - wide, may cause actual results to vary materially from such targets Current progress at select locations 1
1 2 We have significant competitive advantages whi c h will all o w us t o scale our t e ch n ology a c r oss la r ge cus t o m e r s Source(s): “277,000” Presto analysis P r op r ieta r y m a c hi n e l e a r ni n g Human Interface O u r machin e learning i n t er f a c e delivers industry - leading levels of ac curac y an d o r de r deli v ery time r equi r ed t o ope r a t e a high - yield drive - thru business. P r o v en Abili t y t o Scale Our Platf o r ms f or Our C us t o m e r s O ver th e pas t 15 y ea r s, P r es t o has d e v eloped th e kn owled g e and t ools t o install, r oll - out, i n t eg r a te an d educ a t e r estau ra n t ope r a to r s th r ough depl oyin g o ver 277,000 Presto Touch tablets across three diverse customers. Busi n ess Model That is “ Sti c k y ” a n d High G r o w th W e typicall y enga g e in pilo t p r o g r ams t o demonst r a t e R OI , whil e customizing and familiarizing restaurant manag eme n t wit h our capabilities . W hen w e sign M S As, w e g ene r a t e a high l e vel of adoption resulting in large swit chin g c osts. Innovative T e c h n ology O u r t echnol o gy comp r ehensi v ely add r esses th e k e y challen g es of restaurant operators, and seamlessly i n t eg r a t es i n t o a restaurant’s existing technology stack - including enabling multiple bac k - end i n t eg r a tions and c ompl e x menu manag emen t.
1 3 ACTIVE ENG A GEMENT T otal number of s to r es in US a n d C an a d a 1 Presto’s oppor tuni t y at 100% pen et r ation ac r oss logos SIGN P I LOT ROLL OUT DE P L OY PILOT SIGN MSA Su c c ess a c r oss mu l tiple nationally recognized QSR brands S our ce ( s ) : S t o r e c o un t ; P r e s t o a n a l y s i s Note(s): 1. Includes total number of stores for each restaurant in U.S. and Canada, rather than the number of locations that have installed Presto technology 2. The Hi Auto solution powers Presto Voice at Checkers. All other brands use Presto’s own propietary voice technology 2, 7 5 0 俵 俵 俵 俵 俵 ( 俵 ) In discussions following deployment of pilot - - 1050 - 俵 俵 BRAND A - - - 850 俵 俵 BRAND B 4 5 0 - - - 俵 俵 BRAND C 2 0 0 - - - 俵 俵 BRAND D 3 5 0 俵 俵 俵 ( 俵 ) - - - - - 俵 O T H ER B R A N D S X 30 + - 850 俵 俵 俵 俵 俵 2
1 4 SIGNING BRANDS SIGNING FRANCHISEES SIGNING S T ORES A mu l ti - p r o n ged st r a t egy ta r gets b r a n d - l e v el a n d f r a n c hise - l e v el e n g a gem ent Presto’s sales and marketing t eams f ocuses on str a t egic g r o wth an d cust omer acquisitions by prioritizing and ta r g e ting b rands with rapid store roll - out potential. O ur sale s p r o c ess consists o f f our st eps: signing pilo t s wit h p o t e n tial customers, deploying these pilots and proving the return on investment, ne g o ti a ting mast er servi c e ag r eeme n ts (MSA), and rolling out Presto Voice across stores. O n c e w e h a ve signed u p b rands or franchisees with multiple stores, w e a r e able t o r apidl y ac celer a t e r oll - out with shor t sale s and impleme n t a tion c ycles.
1 5 $17M E x p an dable annual r e v enue oppo r tuni t y T he r e venue f r om loc a tions o f custome r s wit h which we have master service or pilot agreements, but Presto V oi c e is n o t y e t installed C u r r ent C ontr a c t ed L ocations Customers that have currently contracted for specific loc a tions th r ough mast er servi c e or pilo t ag r eeme n ts UN P A CKING THE MARKET O P PO R T UNI T Y $ 2. 5 B P r es t o V oi c e a dd r essable ma r k et si z e in US an d Canada $100M+ Total annual approachable revenue opportunity The total revenue from locations of restaurant g r oups wit h whic h w e h a ve mast er servi c e or pilo t agreements, but Presto Voice is not yet installed Presto Voice has an annual revenue opportunity of over $100m when rolled out across total appr o a c hable locations
1 6 P r es t o V oi c e W e seek t o a cc ele r a t e our r ollout of a c r oss locations that are expandable and approachable through existing agreements S T ORE ROL L O U T T ARGE T S J AN U A RY 2 0 2 4 – D E CEMBER 2 0 25 Li v e s t o r es, # Q 1 ’ 24 Q 1 ’ 25 Q 2 ’ 24 Q 2 ’ 25 Q 3 ’ 24 Q 3 ’ 25 Q 4 ’ 24 Q 4 ’ 25 T he loc a tions o f n e w r estau ra n t g r oups th a t h av e n o t y e t signed a mast er servi c e or pil o t ag r eeme n t New r e s t a ur a n t group locations T he t o tal loc a tions o f r estau ra n t g r oups wit h whic h w e mast er servi c e or pil o t ag r eeme n ts , but Pr es t o V oi c e is n o t y e t installed Total a pp r oa c h a bl e locations T he loc a tions o f cust omers with whic h w e h av e mast er servi c e or pil o t ag r eeme n ts , but Pr es t o V oi c e is n o t y e t installed E xp a nda bl e locations C ust ome r s th a t h a v e cur r e n tly c o n t ract ed f or specific loc a tions th r ough a mast er servi c e or pil o t agreements C o n tra c t e d locations S our ce ( s ) : S t o r e c o un t ; P r e s t o a n a l y s i s Note(s): 1. Growth in locations through June 30, 2024 is based on expansion within restaurant chains and franchise groups with which we have MSA’s. Growth thereafter assumes the addition of one or more additional restaurant chains or franchise group. Our store rollout targets are not projections or forecasts and certain occurences, either in our business or industry - wide, may cause actual results to vary materially from such targets 990 726 562 1 2 70 1 5 30 1890 2250 2 610
1 7 PRESTO LEADERSHIP TEAM X a vier is a Sil i c on V all e y serial e n t r ep r eneur who has f ounded s e v e r a l suc c essfu l sta r tups including F i r eclick ( a c qui r ed b y D igital R i ve r ), W ambo, and Li v eclic k er ( a c qui r ed b y Campaign Monitor). S tanl e y b r ings over 20 year s o f e xperien c e in a c c ou n ting an d fi n an c e with lar g e multin a tional public t echnol o g y c ompanies including Skillz, Rimini Street, and Lattice S emi c onduc t o r . H e is a C P A and holds a B achelor o f C omme r ce ( A cc ou n ting) f r om th e U ni v e r sity o f N ai r obi. K a t i s a n o pe r a ti o n a l s t r a t e g i s t w i t h a t a l e n t f o r b u i l d i n g s t r o n g c u s t o m e r r e l a ti o nsh i p s a n d s c a l i n g ne w dep l o y men t s . H er h o s pi t a li t y b a c k g r o u nd in cl u de s e v e r y t h in g f r o m G ene r a l M a n a g er t o o p e r a tio n a l a n d s t r a t e g i c l e a d e r s h i p r o le s a t O ld C h i c a go , R o ck B o t t o m B re w e r y , G o r d o n B ie r s ch , a nd Longhorn Steakhouse. B ill has l ed P r es t o ’ s s o ft wa r e and system development efforts for the past 10 year s . H e w or k ed on P2 P p r o to cols and wi r eless WAN a t M ic r os o ft . H e holds a mast e r s deg r ee from the University of Illinois at Urbana - Champaign. N a than is a corpo r a t e finan c e e xpert with over 25 year s o f e xperien c e in mana g eme n t c onsulting an d i n t erim mana g eme n t r oles f or global c ompanies. P r e viously he w as a S enior Managing Director with EY - Parthenon. J ustin is a r e venue - f ocused e n t r ep r eneur with over 20 year s o f e xperien c e d r iving the g r o wth o f suc c essfu l t echnol o gy c ompanies. H e w as c o - f ounder o f E v er y s t ep and Li v eclic k er ( a c qui r ed b y CM Group) and provided strategic leadership for WhatCounts, Insider, and Iterate.ai. Justin Foster CRO Nathan Cook In t e r im C F O P r es t o is led b y a highly expe r ie n c ed t e am Xavier Casanova CEO Stanley Mbugua CAO Susan Shinoff Gen e r al C ounsel & Co r po ra t e Secretary S usan has h eade d legal t eams or wa s di vision c ounsel a t E dmodo (H K G : 0777), Sirius XM (NASQ: Siri), an d G r a c en o t e (N Y SE: NLSN). H er e xpertise is in t echnol o g y an d AI. P r e vious t o in - house, she w or k ed for Quinn Emanuel Urquhart & Sullivan, LL P and S t e p t oe & J ohnson, LL P . Kat Hof f man - Flynt V P P r oje c t Mana gem ent Bill Healey CTO
