for Thank for speak introduction, thank you, joining as Presto. pleasure first and Chris, the my the time to you, for It's the everyone, call. today the to you CEO of
the I over restaurant and experience of experience its for some X with I've deep issues. background, chains have been ago, company capacities and commercial little year working already months largest of only operational in working way I potential. over role on Presto a this extensive of the some While variety a assumed and brief world's with with By had a therefore
and areas. customer, customers. leaders closely my wanted product time deep my to spend I and initiatives what future. and those a for majority the this made work commercial operational will of we while deliver you skew some which role, have My strategic earnings since approaches assumed In with new the first to understanding have to our call, business us engineering, I and our of position I focus progress updating operational of these how elements the the business will so this the always includes personal in on all to I matters And excellent
in current itself. First, however, XXXX, review for our I recap we plans on relating relation We wish XX, made with completed our and financing to address Partners Group coming common financing, moving debt in the existing need I XXXX. facility under statements On months from of Capital. to several $X May XX, position. million agreed various forbearance equity this Presto's In public Remus these recently investor, financial financing. with conjunction before the secured a business senior the lender, including to to to principal credit defaults until and company's extend Presto's June to subordinated respect Metropolitan to existing parties,
to to company X if further finance of lender an until together and Metropolitan raised to XX, million in sufficient forbearance through June agreed XXXX. minimum evidence transfer operating Metropolitan faith year. the for in period, by is to of this agreement position consideration good million has equity company. the and raises $XX in a new of this capital XX, to company hand extend capital debt during be in expected XXXX, revenues million a agreed with The Crucially, on complete June $X its to additional negotiate the has to projected cash forbearance $XX July
M&A alternatives, the terminated, company as including explores is or with the other debt or has will on forbearance refer May its XX Metropolitan a by options. Metropolitan to notes it filed details. company. the for otherwise completed also full the is investors Form cooperate agreed Please X-K in If receive company financial of the convertible to seeking not new transfer
articulated agreement new lender step transfer to with its focused for to from is viewed this a weeks. critical a singularly this myself underway Presto is the in previously, Metropolitan explore as As will to This both we achieving position we coming of days work on execute and have on are substantial debt a There outcome. and creating the capital Board in the future. that the structure position
provide Before I wind get business. would Touch business of down our the a brief the on to I also update Pay-at-Table into detail, like heritage
of been our Voice decision previously Touch has and such on our as have made and As we resources communicated, the decision business. all AI efforts focus difficult exit to the taken to
the months, have that completed few the the of expect decision have last to executing next by down on quarter. and we wind Over end been
a profitable reference I or of correct reduction critical This are a on business due we we the have AI decision initiative the has as long-term for move to pace the focus strategic whole allowed which Voice focus. the as led made goal, to greater team of one said, advancements, singular specific this towards benefits, innovation forward Presto. our as has are which, advantages the cost us has exclusively product, and also was will good to And progress. improving model. confident future significant we been later which It ever that of
developments, my customer the product made finally, time of I and features and in developments, have wins, customer strategic remainder support success, highlighting our the existing and opportunities we we're deployment expansions of product spend product on; differentiators substantial are core market; improvements, emphasizing new operations, logo introduced; capability. X AI our potential product These detailing for including As business. developments, referenced across commercial progress areas evolution; and and latest already innovations new the would above, and discussing the recently we've like working Presto to Voice the importance of including product tactical
the drive-thru commercial The adopted alone. $X.X year only any Presto. voice form industry restaurant in the This substantial with an The to sector of is over embrace drive-thrus over developments. few per me in just market time X% of of AI let discuss is Voice yet. well having First, for U.S. and AI remains starting exciting U.S. automation opportunity customer billion for
investments operators, sector and growth. we ideally Presto the investments to due These to future as needs difficult systems in efforts I've with suited development, are through technology, of players advantage already advantage. firsthand restaurant building middle providing is to enter intricacy now underlying involved strategically and the is in a the those Moreover, terms of significant the our extremely market integrating address one's product. restaurant witnessed space a for new in it AI place an own believe a substantial us into in complexity We these market that the of the targeting.
With that commercial the past progress backdrop, quarter. I want to address our significant over
customers. our $XX is among with First of real ARR. am equivalent expanding are engaged all, expansion negotiations our customer nearly expanding enhancing also to and There nearly I live in expand active our currently franchise to to are to. locations in base we strides total groups, which million top-of-funnel X This made deployments existing XXX delighted we've have in report pipeline.
successful X Presto QSR immediately. last and $XX or locations We XXX pilot approximately with locations week in X ARR. deploy which brand we represent these agreed in have collectively their MSA signed X,XXX just drive-thrus brands, have currently with million an to X has Voice pilots, Of that XX well-known approximately programs of
its we another already in X deployed locations. XX of Presto Voice drive-thru have operator, For
attractive negotiations brand. rearticulate brands, like other with and and we to to separate a are name commercial a major completing our the We close of most are pilot back X I'd the new are above. proposition, success the on take closing in step are discussions commercial outlined driving to MSA the and customers with also household In elements our core front, which
including point-of-sale flexibility customer and crucial customer systems the have range ability different hardware. is we a proven broad such X integrate in First, fragmented into This to a the market. of environments,
a time. is a approach which ability same to AI the will will way to menu process build new the change out our deliver simplify it take This step rapidly at link significantly multiple menu in brands to This expand customer's and across and enable Our the to menu-building us product. in to ingestion. our we
of XX-year have at to deploy We average an of our operating possess franchise owners track understand their environments complex serving customer corporate restaurant including proved networks. We at pace, rate exceptionally ability we Moreover, record safely a operators, with and and well. per through November with deployments from and XX quickly December. range February, across partners, in peak XX This scale even month nearly a our a environments. around ability point-of-sale to our systems different demonstrates of
with quick own proprietary market we've experience to different the specifically to QSR of serve Other integration. expand Because our improve space. multiple American Finally, environments built only different the across brands the are or believe the capabilities, many in providers the and the successful these we technology of to and mid-market them allow deployment ability who we and designed structures. do not has player technology to possess hardware, North own
a will focus key of brands medium-term short- such, As mid-market our plan. growth be to
We build built represent are from will, term, serve. mid-market shorter-to-medium will continue the anticipate which of proportion develop these greater of course, of in customers pilots our will with In we and a the relationships long-term brands, deployments largest we to our opportunity. whom purpose to proportion the significant come
to outline our developments. would I like product Second, strategic
with above performed As level launched technology recently rising efficiency AI Candidly, Voice have to test an initial from what XX% test eliminates AI, we been Presto disclosed humans-in-the-loop initial that transformational a have has location. in at feature we around anticipating, ago, a location. we the a few weeks Pure far around the XX% at
Why will be we stores enables order intervene to to few the Voice believe only more for. Well, learn. a efficiency weeks data. accuracy providing a and of the that more order AI before has an that improve greater the a process so feature unable level quickly, in system process Pure while AI when restaurant Pure AI Pure to the the this that to the AI transition the the The next the to allow complete chance collect are known it's team is feature humans-in-the-loop AI We'll often to still determines order. AI over exciting? and expanding early we smooth member found of range We
of helpful the to this us, to more the configuration, it solution capabilities AI's of margins still our will human-in-the-loop on will believe to crucial be this solution. allow role the whole. in profitability backdrop overall is testament do of our humans-in-the-loop of but I explain AI elimination vision I advancement strength improve play us think and would reach quickly. gradual For Voice my evolution Presto a underlying our the for technology our new With
oversight Unsupervised if from escalate order where a are pool Supervised There order modes where issues for agents led, does minutes time, And that say, the orders. for leads from AI would store. uncertain, to if in orders pulled in Agent hour. deploy. infrastructure AI not reason, Pure of AI to AI it a our and support agents. case feature agents Voice just manually, management will constant a where management AI management AI use, require emerge. When period input management finally, any snooze Presto to leads set order Snooze directly where new using of with the choose X emerge. lead effectively AI can the can leads remote any with like to order issues agents where customer take to the they Presto XX during but rush we
rising expectations been Pure initial our element the AI have this test this In trialing around with been AI AI on in focused unsupervised location. location. XX% of have we the Unsupervised and test initial addition significantly efficiency XX% to to spectrum at AI, outperformed from also developing
the that AI. demonstrated the order. view progress tasks join time have agents and already Initially, we the complete that session they a couldn't to in have lack for about the do agents fact help successfully were are this that given consistently We concerned can challenging can of
see level was it outperformance. So fantastic of this to
of to number AI collect also days next few over the more stores will weeks unsupervised expanding data. and We be to a greater
margins to to Over single to of we the be begin used modes, allows This outlined, market, that currently it's parts a our in initiative level improving day. quarters, on expressed nonintervention agent different different us This solution will I coming interest test allows of optimizing the these customer flexibility the and for maximize an in. something while that customers is not costs. by satisfaction have something and
be of growth several week our ongoing Presto The existing of part testing we be moment of trials alone, will of to state forward product. a forms from Last [ end new ] potential you this received of this inquiries to keen updating and in course. the landmark customers, for Voice due look I business, these to inbound the
some was The cover to product third major developments. wanted topic tactical I
to develop successfully fundamental Southern to continue We language tactical Spanish in recently outlined a which Spanish location necessary. piloted English front, deliver in alongside On strategy when Spanish product between at transition a and and customers more new orders the easily drive-thru allows the more ordering customers we feature above. California features place and for product effortlessly
new to provide intend We seamless rollout demographic. This important following inclusive language a testing. feature us a broader this of on-site our for allows Spanish to and experience capability, pursue additional
We features including to deliver multi-lane AI improvement. value to of upsell, other are drive-thru working platform variety our and customers, on a support, further [indiscernible] integration and audio Voice our customizable optimize
though, Finally, touch on I to operations. want our to just approach
our our to renewed overall and ability the Presto effectiveness and of critical to success functions for customer scale customer to robust as have business. this they customers commitment develop We our Voice support are
the customer area ability differentiate us a of this behind view We market. in will which have this has further success of I invested our as and heavily company. part invest personally product, fundamental the to to continue important
implemented to that customer and from immediate report much streamlined issues a the support customers have assistance obtain enables We integrated and more Presto easily team. process
them We quickly. focused product and to with customer and prioritize solve on more are integrating triage teams the engineering and issues support
customer rates. proper achieve the support, significantly higher With our nonintervention customers
a rate. demonstrated the our in-store during we new We refined continue to in deploy Over success the our confident at have to locations improve quarters. to to have further feel ability next that live we quarters, our pace several our have hardware ability and expand team's the locations past rapid
for advancements market to in invested weeks now momentum capture. and service commercial us executing on customers, this believe required We've heavily our product we summary, in fundamental we're there the continued driving and the In is coming to months.
With to review like XXXX. hand Stanley, it our Financial our performance to for that, to I'd over Interim QX Chief financial Officer,