RICHTECH ROBOTICS INC. SEC 10-Q Report
RICHTECH ROBOTICS INC., a leading provider of robotic solutions, has released its Form 10-Q report for the first quarter of 2025. The report highlights the company's financial performance and key business developments, showcasing significant growth in revenue and strategic shifts in its business model.
Financial Highlights
Revenue, net: $2.424 million, increased by $152 thousand or approximately 6.7% compared to the same period in 2024, primarily due to the positive impact of the Robots-as-a-Service (RaaS) model.
Gross Profit: $1.847 million, increased by $557 thousand or approximately 43.2% compared to the same period in 2024, driven by a decrease in cost of revenue and a shift towards higher-margin RaaS offerings.
Loss from operations: $(8.837) million, increased by $5.629 million compared to the same period in 2024, primarily due to increased general and administrative expenses.
Net loss attributable to the Company: $(8.088) million, increased by $4.220 million compared to the same period in 2024, reflecting higher operating expenses.
Basic and diluted net loss per share of common stock: $(0.08), compared to $(0.06) for the same period in 2024, reflecting the increased net loss.
Business Highlights
Revenue Segments: The company reported a significant increase in product revenue, driven by strong demand for robotic solutions, with a 111.0% increase for the six months ended March 31, 2025, compared to the same period in 2024. Service/Rental revenue decreased due to a strategic shift towards the Robots-as-a-Service (RaaS) model.
Geographical Performance: The company is expanding its presence in the Southeast with a new location in Peachtree City, Georgia, and plans for another location near San Jose, California, indicating a strategic focus on regional growth.
New Product Launches: The company launched its first Clouffee & Tea store, introducing a robotic coffee and tea concept, with plans to expand this brand with additional locations.
New Production Launches: The company is expanding its research and development team in Silicon Valley with a new office in Newark, California, to support innovation and long-term growth.
Future Outlook: The company is focusing on the strategic transition to the RaaS model, which is expected to generate more consistent and recurring revenue. A Master Services Agreement with a car retailer/dealership enterprise group is anticipated to accelerate deployment activity and revenue conversion in the second half of the fiscal year.
SEC Filing: RICHTECH ROBOTICS INC. [ RR ] - 10-Q - May. 14, 2025