---
schema_version: "secwatch.filing_event.v1"
accession: "0001013762-23-002979"
form_type: "8-K"
ticker: null
cik: "0001822145"
company_name: "Presto Automation Inc."
filed_at: "2023-10-11T23:59:59+00:00"
generated_at: "2026-06-10T01:45:58.654145+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Presto reports FY2023 revenue $26.1M (-13.9% YoY), appoints interim CFO, secures $3M equity and amended credit

## Summary
- FY2023 revenue $26.1M (down 13.9% YoY); net loss $34.5M; adjusted EBITDA loss $39.1M (worsened from $27.9M).
- Private placement of 1.5M shares at $2 each raises $3M from Cleveland Avenue affiliate; expected close Oct 16.
- Third Amendment adds $3M term loans, waives defaults, exchanges $6M accrued interest for 3M warrants at $0.01.
- Interim CFO Nathan Cook appointed (Teneo); $90k/month; replaces Mbugua who returns to CAO.
- Certain shareholders locked up until Dec 23, 2024.

## SEC filing metadata
- accession: 0001013762-23-002979
- form_type: 8-K
- cik: 0001822145
- company_name: Presto Automation Inc.
- filed_at: 2023-10-11T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 5.02, 2.02, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1822145/000101376223002979/0001013762-23-002979-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1822145/000101376223002979/ea186564-8k_prestoauto.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001013762-23-002979
- JSON: https://secwatch.observer/filing/0001013762-23-002979.json
- Plain text: https://secwatch.observer/filing/0001013762-23-002979.txt

## Key facts
- Earnings Releases
  Presto Automation Inc. reported for the fiscal year ended June 30, 2023 results: revenue $26.1 million, net income Net loss was $34.5 million.
  - Period: for the fiscal year ended June 30, 2023
  - Revenue: $26.1 million
  - Net income: Net loss was $34.5 million
  - Result: reported results
  source text: Full Year 2023 revenue of $26.1 million, in line with guidance, with Fiscal Fourth Quarter 2023 revenue of $4.8 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1822145/000101376223002979/0001013762-23-002979-index.htm
- Executive change
  Stanley Mbugua changed role as Interim Chief Financial Officer at Presto Automation Inc..
  - Action: will no longer serve
  - Role: Interim Chief Financial Officer
  source text: After the Effective Time, Stanley Mbugua, the Company’s Chief Accounting Officer who has served as the Interim Chief Financial Officer since August 1, 2023 will no longer serve in such capacity and will continue to serve as the Company’s Chief Accounting Officer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1822145/000101376223002979/0001013762-23-002979-index.htm
- Executive change
  Nathan Cook was appointed as Interim Chief Financial Officer at Presto Automation Inc..
  - Action: appointed
  - Role: Interim Chief Financial Officer
  source text: On October 9 , 2023, the Board of Directors (the “Board”) of Presto appointed Nathan Cook to serve as Interim Chief Financial Officer
  evidence_url: https://www.sec.gov/Archives/edgar/data/1822145/000101376223002979/0001013762-23-002979-index.htm
- Material Agreements
  Presto Automation Inc. entered into Securities Purchase Agreement with Presto CA LLC valued at $3.0 million (effective 2023-10-10).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Presto CA LLC
  - Value: $3.0 million
  - Effective: 2023-10-10
  source text: Presto Automation Inc. (“Presto” or the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with Presto CA LLC, an accredited investor (the “Purchaser”), pursuant to which the Company agreed to sell 1,500,000 newly issued shares of the Company’s common stock, $0.0001 par value per share (the “Common Stock”), at a purchase price of $2.00 per share (the “Per Share Purchase Price”) for an aggregate purchase price of $3.0 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1822145/000101376223002979/0001013762-23-002979-index.htm
- Material Agreements
  Presto Automation Inc. amended Third Amendment with Metropolitan Partners Group Administration, LLC valued at $3.0 million (effective 2023-10-10).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Metropolitan Partners Group Administration, LLC
  - Value: $3.0 million
  - Effective: 2023-10-10
  source text: the Company entered into a Third Amendment (the “Third Amendment”) to the Credit Agreement dated as of September 21, 2022, as amended on March 31, 2023 and May 22, 2023 (the “Credit Agreement”) with Metropolitan Partners Group Administration, LLC, the administrative, payment and collateral agent (the “Agent”) for Metropolitan Levered Partners Fund VII, LP, Metropolitan Partners Fund VII, LP, Metropolitan Offshore Partners Fund VII, LP and CEOF Holdings LP (collectively, the “Lenders”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1822145/000101376223002979/0001013762-23-002979-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.