As filed with the Securities and Exchange Commission on February 17, 2026. Registration Statement No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ___________________________________________ RICHTECH ROBOTICS INC. (Exact name of registrant as specified in its charter) ___________________________________________ | Nevada | 3569 | 88-2870106 | | --- | --- | --- | | (State or other jurisdiction of | (Primary Standa ...

Core Viewpoint - Richtech Robotics is strategically evolving into three core business pillars: commercial, industrial, and data services, while maintaining a strong financial position following its Q1 FY2026 filing [1][8]. Business Strategy - The company has identified three target markets with labor constraints and successfully deployed robotics solutions, leading to a recalibration of its business structure to capture market share in high-growth industries [3][4]. - Richtech Robotics has developed a purpose-built robotics approach, focusing on specific solutions for commercial and industrial use, which allows for task perfection before scaling [4]. Financial Performance - In Q1 FY2026, Richtech Robotics reported RaaS revenue of $0.3 million, a 31% increase from the previous year, while reducing hardware robotics sales initiatives [5]. - The company experienced a net loss of $8.4 million in Q1 FY2026, primarily due to non-cash stock-based compensation, but adjusted net loss was approximately $(0.1) million [7]. Revenue Streams - The company’s revenue model is shifting towards a recurring revenue model through its Robots-as-a-Service (RaaS) initiative, while still maintaining a mix of product sales [5]. - Richtech Robotics has established a data services segment that leverages real-world data from its deployments, providing training sets to top-tier AI companies [6]. Product Offerings - The commercial robotics segment includes hospitality robots like ADAM and Matradee, which address labor shortages in hospitality and retail environments [6]. - The industrial robotics segment features the mobile humanoid robot Dex, designed for production and manufacturing, utilizing NVIDIA's Isaac Sim technology [6]. Financial Position - As of December 31, 2025, the company had total liquidity of $328.8 million, including $271.8 million in cash and cash equivalents, allowing for continued investment in R&D and business development [7].

Group 1 - Richtech Robotics Inc. is recognized as one of the most promising robotics stocks according to Wall Street analysts [1] - The company plans to showcase its mobile humanoid robot, Dex, at CES 2026, which is designed for dynamic environments and real-time reasoning [2] - Street analysts have a consensus Hold rating for Richtech Robotics Inc. with an average price objective of $4.50, indicating a potential upside of approximately 22.45% from the current price of $3.68 [3] Group 2 - Richtech Robotics Inc. specializes in AI-driven robotic solutions for various sectors including service, hospitality, healthcare, retail, and industrial environments [4] - The company is headquartered in Las Vegas, Nevada, and develops autonomous robots like ADAM, Scorpion, and Titan, which utilize advanced AI and machine vision [4]

Core Insights - Coherent Corp. (COHR) demonstrates strong financial performance driven by demand from AI-related datacenters and communications, while Richtech Robotics Inc. (RR) is transitioning to a Robotics-as-a-Service (RaaS) model, impacting its revenue negatively in the short term [1][16][17]. Coherent Corp. (COHR) - COHR reported a 17.3% year-over-year revenue increase and a 3.4% sequential growth in Q1 fiscal 2026, attributed to robust demand in AI and communications sectors [2]. - The company achieved a remarkable 244.5% year-over-year increase in operating income, showcasing effective expense management [2]. - A 40-basis-point decline in R&D expenses as a percentage of revenue indicates COHR's operational efficiency and scalability [3]. - The adoption of 800G and 1.6T transceivers reflects strong product demand, with expectations for continued growth in 2026 [4]. - COHR maintains a solid balance sheet with $875 million in cash reserves and a current debt of $48 million, resulting in a current ratio of 2.33, significantly above the industry average [5]. - The Zacks Consensus Estimate for COHR's fiscal 2026 sales is $6.7 billion, indicating a 15.1% year-over-year growth, with an EPS estimate of $5.1, suggesting a 44.5% increase [11][12]. Richtech Robotics Inc. (RR) - RR's revenue for Q3 fiscal 2025 was $1.2 million, an 18.4% decline from the previous year, as the company shifts to a RaaS model [6]. - Despite the revenue drop, RR achieved a gross margin of 74.4%, up 420 basis points year-over-year, indicating effective cost management [6]. - The company's product strategy, including offerings like ADAM and Titan 440, is crucial for capturing the RaaS market, which is projected to grow at a CAGR of 17.1% through 2034 [7]. - RR holds $86 million in cash with no current debt, resulting in a current ratio of 120.2, indicating strong liquidity [8]. - The Zacks Consensus Estimate for RR's fiscal 2025 sales is $5 million, suggesting an 18.2% year-over-year increase, with a projected loss per share of 15 cents [13]. - RR's net loss in Q3 fiscal 2025 was $4.1 million, compared to a loss of $1.3 million in the previous year, primarily due to a 254.7% increase in general and administrative expenses [9][10]. Valuation Comparison - COHR is trading at a forward price-to-sales multiple of 4.2, above its 3-month median of 3.2, while RR's multiple is significantly higher at 39.65, compared to its median of 44.91 [14]. - Despite both companies being fundamentally strong, COHR is viewed as offering more growth potential due to its lower valuation compared to RR [18].

Core Insights - Richtech Robotics Inc. is set to showcase its humanoid robot Dex at CES 2026, highlighting its advanced robotics solution platform aimed at enhancing productivity and efficiency in commercial and industrial environments [1][4]. Group 1: Product Features - Dex operates in dynamic environments, utilizing NVIDIA Jetson Thor for real-time reasoning and complex task execution, with a battery life of four hours on a single charge [2]. - The robot has undergone simulation and training using NVIDIA's open-source frameworks, specifically NVIDIA Isaac Sim and NVIDIA Isaac Lab, to enhance its operational capabilities [2]. Group 2: Company Overview - Richtech Robotics focuses on developing advanced robotic solutions and the necessary data infrastructure to improve robot intelligence, guided by three strategic pillars: Industrial, Commercial, and Data Services [4]. - The company's robots are designed to work alongside humans in various settings, including factory floors and hospitality venues, to improve efficiency, precision, and quality [4]. Group 3: Event Details - The CES 2026 event will take place from January 6 to 9, 2026, at the Las Vegas Convention Center, with Richtech Robotics exhibiting at Booth Number 8447 [7]. - Investors and industry participants are invited to schedule meetings for live demonstrations of Dex and other robotic solutions [3]. Group 4: Additional Robotic Solutions - Other robotic solutions presented by Richtech Robotics include ADAM for coffee-making, Matradee Plus for food delivery, Titan for logistics, and Scorpion for enhanced visual monitoring capabilities [8].

Core Insights - Microvast Holdings, Inc. (MVST) and Richtech Robotics Inc. (RR) are both small-cap tech stocks in high-growth sectors, with MVST focusing on battery technologies for electric vehicles (EVs) and energy storage, while RR specializes in robotic solutions for automation in the U.S. service industry [1] Richtech Robotics - RR's Q3 fiscal 2025 revenues were $1.2 million, down 18.4% year-over-year, due to a shift to a Robotics-as-a-Service (RaaS) model aimed at long-term recurring revenues [2] - The company achieved a gross margin of 74.4%, an increase of 420 basis points from the previous year, indicating effective cost management [2] - Richtech's product offerings, such as ADAM and Titan 440, position it to capture a larger share of the RaaS market, projected to grow at a CAGR of 17.1% through 2034 [3] - The company has a cash reserve of $86 million with no current debt, allowing for investment in product development [3] - Despite the positive aspects, RR's net loss widened to $4.1 million from $1.3 million year-over-year, primarily due to a 254.7% increase in general and administrative expenses [4] - Competition from larger firms like Deere & Company and Rockwell Automation poses risks to RR's market penetration [4] Microvast Holdings - MVST reported record Q3 2025 revenues of $123.3 million, a 21.6% increase year-over-year, driven by higher sales in Asia and Europe [5] - The company experienced a gross margin expansion of 440 basis points year-over-year, attributed to operational execution and cost controls [5] - MVST maintained an adjusted EBITDA of $21.9 million, with a year-to-date figure of $76.3 million, indicating scalable operations [6] - The Huzhou Phase 3.2 expansion is expected to add nearly 2 GWh of annual production capacity, addressing customer demand [6] - Despite revenue growth, MVST reported a net loss of $1.5 million in Q3 2025, largely due to changes in warrant/loan valuation [7] - The competitive landscape in the EV battery market includes major players like General Motors and Toyota, which impacts MVST's pricing power [8] Financial Estimates and Valuation - The Zacks Consensus Estimate for RR's fiscal 2025 sales is $5 million, suggesting an 18.2% year-over-year increase, with a projected loss per share of 15 cents [11] - For MVST, the fiscal 2025 sales estimate is $462.3 million, indicating a 21.7% year-over-year increase, with an expected EPS of 17 cents [12] - MVST trades at a forward price-to-sales multiple of 2.05, below its 12-month median of 2.4, while RR's multiple is 37.58, lower than its median of 44.42 [13] Investment Verdict - Despite RR's higher valuation, it is justified by its scalability and potential for higher margins through the RaaS model [15] - MVST faces challenges in maintaining profitability in a competitive EV battery market [15] - Richtech Robotics is considered a better investment opportunity due to its recurring revenue model, strong gross margin, and high solvency profile [16]

Core Insights - Serve Robotics and Richtech Robotics have similar market capitalizations of approximately $640 million but pursue different strategies in the robotics sector [2] - Serve Robotics focuses on building a delivery network as critical urban infrastructure, while Richtech Robotics diversifies across industries such as hospitality and healthcare [2][8] - As of November 14, 2025, Serve shares have decreased by about 30% year-to-date, whereas Richtech shares have increased by approximately 24% [2] Company Strategies - Serve Robotics originated from Postmates and has partnerships with Uber Technologies and DoorDash, operating fleets in major cities like Los Angeles and Dallas, with a business model shifting from hardware sales to recurring fleet services [5] - Richtech Robotics, based in Las Vegas, sells robots across various sectors, including notable products like the ADAM AI bartender and the Scorpion robot bartender, transitioning from one-off hardware sales to a Robotics-as-a-Service (RaaS) model aiming for 70% gross margins [6] Financial Performance - Serve Robotics reported third-quarter 2025 revenue of $687,000, reflecting a year-over-year increase of about 209%, with full-year guidance expected to exceed $2.5 million [7] - Projections for 2026 suggest Serve could achieve revenue between $28 million and $31 million, driven by a fleet of 2,000 robots, although profitability is not expected until at least 2028 [7][8] - Richtech Robotics is anticipated to approach breakeven by 2027 if its RaaS model gains traction, while Serve is expected to remain cash flow negative until at least 2028 [8]

Core Insights - The partnership between Richtech Robotics and the Vegas Golden Knights aims to integrate AI and robotics into fan experiences, hospitality, and live entertainment, marking a significant step in the NHL [1][2][3] - Richtech Robotics is recognized for its innovative use of collaborative robots in various settings, and this collaboration will explore enhancing fan engagement and operational efficiency in live sports [2][3] Company Overview - Richtech Robotics Inc. specializes in AI-driven robotic solutions and aims to leverage its technology to improve hospitality and fan experiences in Las Vegas [1][5] - The company operates under three strategic pillars: Industrial, Commercial, and Data, focusing on automation and AI-driven improvements across various sectors [5] Partnership Details - The collaboration will feature Richtech's flagship service robot, ADAM, which will be showcased during the 2025-2026 season, enhancing the gameday experience through interactive engagements and precision service [4][12] - The partnership officially launches in November 2025 with multiple activations, including ADAM's debut at a charity gala and gameday events at T-Mobile Arena [12] Future Prospects - The partnership is expected to set a new standard for fan engagement and hospitality in sports, with Richtech Robotics aiming to gather insights on how automation can scale across sports venues [3][12] - Future activations will include ADAM serving drinks and engaging with fans at various events, showcasing the potential for robotics to enhance the overall sports experience [12]

Core Viewpoint - Richtech Robotics (RR) is recognized as a promising investment opportunity in the collaborative robotics sector, particularly within the service industry, despite its current low ratings for value and growth [1] Company Overview - Richtech Robotics, Inc. specializes in developing robotic technologies for various sectors including hospitality and healthcare, providing services such as restaurant operations, hotel room service, and floor cleaning [2] Earnings History - The company has shown mixed performance with one earnings miss and one meet, recently reporting a loss of $0.04 per share, aligning with market expectations [4] Earnings Estimates Revisions - Earnings estimates for Richtech Robotics have seen upward revisions, with the 2026 loss estimate improving from $0.14 to $0.10 over the past week, while the 2025 estimate remains unchanged at a loss of $0.15 [5] Growth Projections - Analysts project significant revenue growth for Richtech Robotics, expecting $5 million in revenue for the current fiscal year, representing an 18.2% increase, and a forecast of $13.48 million for the next fiscal year, indicating a 175% growth [6] Product Line - The company offers five major robotic products, including: - ADAM, an AI Barista and cocktail robot priced around $25,000 - Scorpion, an autonomous floor scrubbing robot starting at $18,000 - Matradee, a restaurant hosting robot priced at approximately $15,000 - Titan, a heavy-duty delivery robot with a starting price of around $30,000 - Medbot Series, designed for medical supply delivery in hospitals, starting at $22,000 [7][8] Valuation Metrics - Currently, Richtech Robotics has no earnings, leading to a reliance on price-to-book and price-to-sales ratios, with a price-to-book multiple of 6.4x and a price-to-sales ratio of 177x, which is expected to decrease as growth continues [10] Stock Offering - The company filed a $1 billion At-The-Market offering, which has negatively impacted the stock price, with expectations of raising over $50 million soon; if the total raised exceeds $250 million, it may be prudent to conclude the offering [11] Industry Context - The robotics industry is gaining traction, with competitors like Tesla planning to produce a significant number of robots, positioning Richtech Robotics as a more affordable investment alternative, although the current stock offering is a concern for potential investors [12]

Core Viewpoint - The article highlights the achievements of 35 innovators under the age of 35 in various fields such as climate and energy, artificial intelligence, biotechnology, computing, and materials science, showcasing their groundbreaking contributions and potential impact on their respective industries [6][11][60]. Climate and Energy - Innovators in this sector are developing advanced technologies for decarbonization, with applications across shipping, fashion, and other industries. They are also exploring new methods for sustainable energy and innovative uses for carbon capture [11]. - Iwnetim Abate is working on producing ammonia using underground heat and pressure, aiming to reduce carbon emissions associated with traditional ammonia production, which contributes 1% to 2% of global CO2 emissions [13]. - Sarah Lamaison's company, Dioxycle, is developing a method to produce chemicals using electricity instead of fossil fuels, significantly reducing greenhouse gas emissions [16][17]. - Gaël Gobaille-Shaw's Mission Zero focuses on direct air capture technology to extract CO2 from the atmosphere, while his second company, Supercritical, aims to produce hydrogen efficiently [19][20]. Artificial Intelligence - Aditya Grover has developed ClimaX, an AI model that predicts weather and climate events, utilizing extensive datasets for improved accuracy [22][23]. - Neel Nanda is researching the interpretability of AI models to ensure their safe and beneficial development, focusing on understanding the decision-making processes of these models [34][35]. - Mark Chen has led advancements in AI models for image processing and code generation, contributing to the development of OpenAI's DALL·E and Codex [38][39]. - Akari Asai is working on retrieval-augmented generation technology to reduce AI hallucinations by allowing models to reference stored data before generating responses [51][52]. Biotechnology - Christian Kramme's company, Gameto, is developing artificial ovarian technology to assist IVF patients, aiming to reduce hormonal injections and stress during the process [62][63]. - Kevin Eisenfrats founded Contraline to create a long-lasting male contraceptive gel, with ongoing clinical trials to validate its effectiveness [64][65]. Computing and Materials Science - Pierre Forin's company, Calcarea, is developing a system to capture and store CO2 emissions from ships, with plans for commercial deployment by 2027 or 2028 [28][29]. - Neeka Mashouf's Rubi Laboratories is innovating a method to produce textiles by extracting CO2 directly from the atmosphere, aiming for sustainable fashion solutions [25][26].