Core Insights - Richtech (RR) reported a quarterly loss of $0.04 per share, matching the Zacks Consensus Estimate, compared to a loss of $0.02 per share a year ago [1] - The company's revenues for the quarter ended June 2025 were $1.18 million, missing the Zacks Consensus Estimate by 17.11% and down from $1.44 million year-over-year [2] - Richtech shares have declined approximately 32.2% year-to-date, contrasting with the S&P 500's gain of 8.6% [3] Financial Performance - The company has consistently failed to meet consensus EPS estimates over the last four quarters [1] - Richtech's revenue performance has also not surpassed consensus estimates in the same timeframe [2] - Current consensus EPS estimate for the upcoming quarter is -$0.04 on revenues of $1.64 million, and for the current fiscal year, it is -$0.15 on revenues of $5.49 million [7] Market Outlook - The sustainability of Richtech's stock price movement will largely depend on management's commentary during the earnings call [3] - The estimate revisions trend for Richtech was mixed prior to the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] - The Technology Services industry, to which Richtech belongs, is currently in the top 37% of Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8]

PART I. FINANCIAL INFORMATION [Item 1. Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) Financial statements for the nine months ended June 30, 2025, reflect significant asset growth, slight revenue decline, and a widened net loss driven by increased expenses [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) As of June 30, 2025, total assets surged to $107.3 million, driven by cash and short-term investments, with stockholders' equity increasing significantly from stock issuances Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2025 (Unaudited) | September 30, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $32,893 | $14,566 | | Short term investment | $52,616 | $15,940 | | Total current assets | $88,851 | $33,046 | | Total assets | $107,329 | $42,651 | | **Liabilities & Equity** | | | | Total current liabilities | $739 | $455 | | Total liabilities | $1,378 | $913 | | Total stockholders' equity | $105,951 | $41,738 | [Consolidated Statements of Operations](index=6&type=section&id=Consolidated%20Statements%20of%20Operations) For the nine months ended June 30, 2025, revenue slightly decreased, gross profit improved, but a significant surge in general and administrative expenses led to a widened net loss of $12.2 million Statement of Operations Summary (in thousands) | Metric | Nine Months ended June 30, 2025 | Nine Months ended June 30, 2024 | | :--- | :--- | :--- | | Revenue, net | $3,601 | $3,715 | | Gross profit | $2,723 | $2,304 | | Total operating expenses | $16,067 | $6,407 | | Loss from operations | $(13,344) | $(4,103) | | Net loss attributable to the Company | $(12,160) | $(5,181) | | Basic and diluted net loss per share | $(0.11) | $(0.07) | Quarterly Statement of Operations Summary (in thousands) | Metric | Three Months ended June 30, 2025 | Three Months ended June 30, 2024 | | :--- | :--- | :--- | | Revenue, net | $1,177 | $1,443 | | Gross profit | $876 | $1,014 | | Loss from operations | $(4,507) | $(895) | | Net loss attributable to the Company | $(4,063) | $(1,313) | [Consolidated Statements of Cash Flows](index=9&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) For the nine months ended June 30, 2025, cash and cash equivalents increased by $18.3 million, primarily driven by $71.1 million from financing activities, offsetting operational and investing outflows Cash Flow Summary (in thousands) | Cash Flow Activity | Nine Months Ended June 30, 2025 | Nine Months Ended June 30, 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $(11,197) | $(2,121) | | Net cash used in investing activities | $(41,532) | $135 | | Net cash used in financing activities | $71,056 | $10,754 | | **Net change in cash and cash equivalents** | **$18,327** | **$8,768** | [Notes to Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Notes detail the company's service robotic solutions business, key accounting policies including RaaS revenue recognition, and successful At-The-Market (ATM) offerings raising significant capital - The company provides service robotic solutions, including delivery, cleaning, and food & beverage services, deployed in over **80 U.S. cities**[29](index=29&type=chunk) - The company executed an At-The-Market (ATM) offering, issuing **23,682,395 shares** of Class B common stock for net proceeds of approximately **$50.8 million**[48](index=48&type=chunk)[51](index=51&type=chunk) - Revenue from Robots-as-a-Service (RaaS) is recognized over time on a monthly basis as services are provided[55](index=55&type=chunk) - Subsequent to quarter end, as of August 11, 2025, the company issued an additional **11,226,521 shares** under the ATM program, receiving net proceeds of approximately **$21.8 million**[70](index=70&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=17&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes revenue decline to a RaaS model shift, explains widened net loss by increased G&A expenses, and highlights improved liquidity from successful stock offerings [Overview and Recent Developments](index=17&type=section&id=Overview%20and%20Recent%20Developments) Recent developments include joining the NVIDIA Connect program, purchasing a new 20,000 sq. ft. headquarters for $4.1 million, and inclusion in the Russell 2000® and 3000® Indexes - In July 2025, the company joined the NVIDIA Connect program, gaining access to developer resources and training[73](index=73&type=chunk) - On May 15, 2025, the company purchased a new **20,000 sq. ft.** property in Las Vegas for **$4.1 million** to serve as its new headquarters and expand assembly operations[75](index=75&type=chunk) - The company was added to the FTSE Russell 2000® and Russell 3000® Indexes in June 2025[76](index=76&type=chunk) [Results of Operations](index=18&type=section&id=Results%20of%20Operations) For the nine months ended June 30, 2025, revenue decreased due to a RaaS model shift, gross profit increased, but surging G&A expenses led to significant operating and net losses - The year-over-year revenue decrease is attributed to a strategic shift to a Robots-as-a-Service (RaaS) model, focusing on recurring revenue over one-time sales[82](index=82&type=chunk) Revenue Breakdown (in thousands) | Revenue Stream | Nine Months ended June 30, 2025 | Nine Months ended June 30, 2024 | Change | | :--- | :--- | :--- | :--- | | Product revenue | $1,567 | $1,252 | $315 | | Service/rental revenue | $1,151 | $1,510 | $(359) | | Leasing revenue | $380 | $604 | $(224) | | **Total Revenue** | **$3,601** | **$3,715** | **$(114)** | - Cost of revenue for the nine-month period decreased by **37.7%** year-over-year, primarily due to capitalizing robot costs under the leasing model instead of expensing them as COGS[88](index=88&type=chunk) - General and administrative expenses for the nine-month period increased by **$10.1 million (268.7%)** year-over-year, driven by higher personnel costs, professional fees, and new office costs[99](index=99&type=chunk)[106](index=106&type=chunk) - Investment income of **$1.1 million** was generated in the first nine months of fiscal 2025, compared to zero in the prior year, due to investing proceeds from stock issuances in short-term CDs and U.S. Treasury bills[103](index=103&type=chunk)[104](index=104&type=chunk) [Liquidity and Capital Resources](index=23&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2025, liquidity significantly improved, with cash and cash equivalents totaling $32.9 million, primarily due to $48.6 million from stock issuances and $9.2 million from warrant exercises Cash and Cash Equivalents (in millions) | Date | Amount | | :--- | :--- | | June 30, 2025 | $32.9 | | September 30, 2024 | $14.6 | - The increase in cash was driven by **$71.1 million** in net cash from financing activities, partially offset by **$11.2 million** used in operations and **$41.5 million** used in investing[109](index=109&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=23&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a smaller reporting company, Richtech Robotics Inc. is not required to provide this disclosure - Disclosure is not required for smaller reporting companies[116](index=116&type=chunk) [Item 4. Controls and Procedures](index=24&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2025, with no material changes to internal control over financial reporting during the quarter - The company's Certifying Officers concluded that disclosure controls and procedures were effective as of June 30, 2025[118](index=118&type=chunk) - No material changes occurred during the fiscal quarter ended June 30, 2025, affecting internal control over financial reporting[120](index=120&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=25&type=section&id=Item%201.%20Legal%20Proceedings) A civil action was filed against the company in June 2025, seeking over $600,000 for breach of contract and fraud, which management believes is without merit - A civil lawsuit was filed against the company in June 2025, seeking damages in excess of **$600,000** for claims including breach of contract and fraud[123](index=123&type=chunk) - Management believes the claims lack merit and does not anticipate a material adverse impact on the company's financials[124](index=124&type=chunk) [Item 1A. Risk Factors](index=25&type=section&id=Item%201A.%20Risk%20Factors) As a smaller reporting company, this section is not required, and no material changes to previously disclosed risk factors have occurred - As a smaller reporting company, disclosure of risk factors in the 10-Q is not required, and no material changes to previously disclosed risk factors have occurred[125](index=125&type=chunk) [Other Items (Items 2, 3, 4, 5)](index=25&type=section&id=Other%20Items%20(Items%202,%203,%204,%205)) The company reported no unregistered sales of equity securities, no defaults upon senior securities, no mine safety disclosures, and no Rule 10b5-1 trading arrangement changes - Item 2: No unregistered sales of equity securities[126](index=126&type=chunk) - Item 3: No defaults upon senior securities[127](index=127&type=chunk) - Item 5: No directors or Section 16 officers adopted or terminated a Rule 10b5-1 trading arrangement[129](index=129&type=chunk) [Item 6. Exhibits](index=26&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the report, including agreements for property purchase, ATM offering, product sales, and officer certifications - Exhibits filed include the At The Market Offering Agreement, a Purchase and Sale Agreement for property, and officer certifications required by the Sarbanes-Oxley Act[132](index=132&type=chunk)

Company Overview - Richtech Robotics designs, develops, and commercializes service robots for businesses in the service sector[3] - The company has installed over 400 robots globally and aims to reach 1,000+ locations by 2026[10, 19, 55] - Richtech is positioned as the world's first AI-driven total robotic solutions provider in hospitality & service sectors[10, 83] Market Opportunity - The serviceable addressable market is highly diversified at $230 billion[10, 83] - The projected service robotics market is expected to reach $17546 billion by 2030[14] - The service robotics market was $7191 billion in 2025 and $5787 billion in 2024[14] - North America holds the largest global share of the service robotics market at 35%[14] - Average hourly earnings in private service-providing industries rose by approximately 37% from March 2024 to March 2025[19] Financial Performance - The company reported revenues of $44 million for the trailing 4 quarters (ended 3/31/2025)[56] - Secured RaaS (Robot-as-a-Service) contracts amount to $65 million, contributing incrementally over lease terms[56] - The company has $318 million in cash & equivalents as of 3/31/2025[56]

Group 1 - Richtech Robotics Inc. has been added to the US small-cap Russell 2000 Index, effective after the market closed on June 27, 2025, as part of the 2025 Russell Indexes reconstitution [1][2] - The Russell 2000 Index represents approximately 98% of the investable US equity market, including around 2,000 of the smallest securities based on market capitalization and current index membership [1] - The inclusion in the Russell 2000 Index is expected to enhance investor confidence and provide a platform for Richtech Robotics to accelerate innovation and expand market presence [2] Group 2 - Richtech Robotics specializes in AI-driven service robots, focusing on the hospitality and healthcare sectors, aiming to transform the service industry through collaborative robotic solutions [4] - The company’s mission is to enhance customer experience and empower businesses by integrating cutting-edge automation [4] - Richtech Robotics' stock will also be automatically added to the appropriate growth and value indexes due to its membership in the Russell 3000 Index [2]

Core Insights - Richtech Robotics has signed a multi-million-dollar sales agreement with Beijing Tongchuang Technology Development Co., Ltd. through its joint venture, Boyu Artificial Intelligence Technology Co., Ltd. [1][2] - The agreement is valued at over $4 million and includes the purchase, service, and software licensing of products from three key product lines: ADAM, Scorpion, and Titan [2][3] - This deal is expected to enhance the company's revenue in the fourth quarter and drive recurring revenue in the future [2] Company Strategy - The agreement is a significant milestone in Richtech Robotics' international growth strategy, aiming to expand its AI-driven solutions across Asia [3] - The company focuses on high-demand sectors such as hospitality, retail, manufacturing, and healthcare, enhancing operational efficiency and customer experiences [3] Market Presence - Richtech Robotics has deployed over 400 robot solutions across various sectors in the U.S., including restaurants, retail stores, hotels, healthcare facilities, casinos, and factories [4] - Current clients include notable names such as Texas Rangers' Globe Life Field, Golden Corral, Hilton, and Boyd Gaming [4] Company Overview - Richtech Robotics specializes in collaborative robotic solutions for the service industry, particularly in hospitality and healthcare [5] - The company's mission is to transform the service industry through automation, enhancing customer experience and operational efficiency [5]

Core Insights - Richtech Robotics has signed a multi-million-dollar sales agreement with Beijing Tongchuang Technology Development Co., Ltd. through its joint venture, Boyu Artificial Intelligence Technology Co., Ltd. [1][2] - The agreement is valued at over $4 million and includes the purchase, service, and software licensing of products from three key product lines: ADAM, Scorpion, and Titan [2][3] - This partnership is expected to enhance Richtech Robotics' revenue in the fourth quarter and drive recurring revenue in the future [2] Company Strategy - The agreement is a significant milestone in the company's international growth strategy, aiming to expand its AI-driven solutions across Asia [3] - Richtech Robotics focuses on high-demand sectors such as hospitality, retail, manufacturing, and healthcare, enhancing operational efficiency and customer experiences [3] Market Presence - The company has deployed over 400 robot solutions across various sectors in the U.S., including restaurants, retail stores, hotels, healthcare facilities, and casinos [4] - Current clients include notable names such as Texas Rangers' Globe Life Field, Golden Corral, Hilton, and Boyd Gaming [4] Company Overview - Richtech Robotics specializes in collaborative robotic solutions for the service industry, particularly in hospitality and healthcare [5] - The company's mission is to transform the service industry through automation, enhancing customer experiences and operational efficiency [5]

Core Insights - The partnership between Richtech Robotics and Beijing City of Design Development Co., Ltd. aims to enhance AI integration with robotic solutions, focusing on service experiences in industries like hospitality, healthcare, and retail [2][3] - The collaboration will involve the establishment of a "Beijing Foreign-Invested R&D Center" to pursue advancements in domain-specific AI models, autonomous robotic decision-making systems, and integrated software-hardware platforms [7][2] - Richtech Robotics has deployed over 400 robotic solutions across various sectors in the U.S., including notable clients such as Texas Rangers' Globe Life Field and Hilton [3][4] Company Overview - Richtech Robotics specializes in collaborative robotic solutions for the service industry, aiming to transform customer experiences and enhance operational efficiency [4] - The company focuses on integrating advanced automation to improve interactions and drive innovation within organizations [4]

Core Insights - Richtech Robotics Inc. will showcase its AI-powered robot, ADAM, at the Legacy of Launch 75th Anniversary event on July 24, 2025, at the Kennedy Space Center [1][3] - The event aims to celebrate 75 years of achievements in space exploration and inspire future innovations [2] - ADAM's participation highlights the potential of AI and robotics in enhancing human experiences, particularly in the hospitality and entertainment sectors [3][4] Company Overview - Richtech Robotics specializes in AI-driven service robots, focusing on transforming the service industry through innovative robotic solutions [6] - The company has deployed over 400 robots across various sectors, including restaurants, hotels, and healthcare facilities, with notable clients such as Hilton and Boyd Gaming [5] - Richtech Robotics aims to create enhanced interactions and efficiency in service delivery through its collaborative robotic solutions [6] Future Prospects - The company sees potential for ADAM and its industrial counterpart, Titan, to explore space-related applications, indicating a strategic direction for future growth [4] - The participation in high-profile events like the Legacy of Launch positions the company as a leader in intelligent automation and innovation [4]

Company Overview - Richtech Robotics Inc. is a provider of AI-powered service robotics, focusing on transforming the service industry through automation [6] - The company has deployed over 400 robotic solutions across various sectors, including hospitality, retail, healthcare, manufacturing, and entertainment [5] Product Highlights - The company's flagship robot, ADAM, has served over 16,000 drinks at Clouffee & Tea, showcasing its capabilities in a real-world setting [1][2] - ADAM is powered by advanced AI and NVIDIA technology, designed to engage customers and execute complex beverage recipes with speed and accuracy [3] - The robot features a proprietary vision-AI system that ensures milliliter-level accuracy in drink preparation through real-time monitoring [4] Market Position and Future Potential - The milestone of serving 16,000 drinks validates ADAM's performance and commercial viability, highlighting its potential to transform service models in the food and beverage industry [5] - ADAM is designed as a versatile robotic coworker, with potential applications extending beyond beverage service to retail, laboratories, and other commercial environments [4] - The company aims to create enhanced interactions and efficiency through its collaborative robotic solutions, propelling organizations toward higher levels of excellence [6]

Core Insights - Richtech Robotics Inc. has won the Robotics Innovation of the Year award for its Titan robot, which enhances efficiency and revenue in service sectors like automotive repair [1][2] - The Titan robot is designed to streamline delivery processes, allowing employees to work more efficiently and effectively [1][2] Company Overview - Richtech Robotics specializes in AI-driven service robots, focusing on collaborative robotic solutions for industries such as hospitality and healthcare [4] - The company's mission is to transform the service industry through automation, enhancing customer experiences and operational efficiency [4] Industry Recognition - The SupplyTech Breakthrough Awards recognize significant advancements in supply chain and logistics through technology, highlighting the importance of innovation in these sectors [3]