Richtech Robotics opens its third One Kitchen location, featuring the AI robot Scorpion at a Georgia Walmart Supercenter.
Quiver AI Summary
Richtech Robotics Inc. announced the opening of its newest One Kitchen restaurant in partnership with Ghost Kitchens America at a Walmart Supercenter in Peachtree City, Georgia. This location is the third One Kitchen established through their collaboration and the first to feature the company's AI-driven service robot, Scorpion. A grand opening event is scheduled for March 21, 2025. Richtech Robotics President Matt Casella emphasized the growing interest in AI-powered robots in the restaurant sector and the potential for increased revenue and profitability at this new location, where the Scorpion robot will serve drinks using advanced AI technology. The restaurant will be managed by Richtech's subsidiary, AlphaMax Management, which will integrate robotics and AI to enhance operational efficiency.
Potential Positives
- Richtech Robotics has opened its third One Kitchen location in collaboration with Ghost Kitchens America, indicating successful expansion and partnership within the restaurant industry.
- The new Peachtree City location is the first to feature the AI-driven Scorpion robot, showcasing the company's innovation and integration of advanced technology in a high-traffic retail environment.
- Management anticipates a stable revenue stream, strong cash flow, and increased profitability from the new location, which signifies positive financial projections for the company.
- The Scorpion robot employs NVIDIA AI technology, enhancing customer interaction and operational efficiency, which may position Richtech Robotics favorably in a competitive market.
Potential Negatives
- The press release includes multiple forward-looking statements that highlight potential benefits and revenue generation, but also caution that actual results may differ materially due to various risks and uncertainties, which could undermine investor confidence.
- There is an emphasis on the need for enhanced operational efficiency and customer engagement driven by AI technology, suggesting that the company may be addressing current weaknesses or challenges within the industry.
- The reliance on AI-driven solutions and robots may raise concerns regarding job displacement in the industry, which could attract negative public sentiment or backlash against the company.
FAQ
What is the significance of the new One Kitchen location in Georgia?
The Peachtree City location is the third One Kitchen as part of the Richtech Robotics and Ghost Kitchens partnership.
What is unique about the One Kitchen at Walmart?
This location is the first to feature the AI-driven Scorpion robot, enhancing customer experience with precision beverage crafting.
What products will the Scorpion robot serve?
The Scorpion robot will serve a variety of coffees, milk teas, and fruit tea drinks to patrons.
When is the grand opening event for the new One Kitchen?
The grand opening is scheduled for March 21st at 9:30 a.m. at the Walmart Supercenter in Peachtree City.
What is Richtech Robotics' mission?
Richtech Robotics aims to transform the service industry with collaborative robotic solutions that enhance customer experience and operational efficiency.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$RR Insider Trading Activity
$RR insiders have traded $RR stock on the open market 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $RR stock by insiders over the last 6 months:
- MATTHEW G. CASELLA (President) sold 60,000 shares for an estimated $100,080
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$RR Hedge Fund Activity
We have seen 24 institutional investors add shares of $RR stock to their portfolio, and 9 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- VANGUARD GROUP INC added 525,065 shares (+78.6%) to their portfolio in Q4 2024, for an estimated $1,417,675
- JANE STREET GROUP, LLC added 234,578 shares (+113.0%) to their portfolio in Q4 2024, for an estimated $633,360
- GEODE CAPITAL MANAGEMENT, LLC added 212,709 shares (+93.3%) to their portfolio in Q4 2024, for an estimated $574,314
- VIRTU FINANCIAL LLC removed 188,764 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $509,662
- BLACKROCK, INC. added 138,959 shares (+inf%) to their portfolio in Q4 2024, for an estimated $375,189
- NORTHERN TRUST CORP added 109,881 shares (+inf%) to their portfolio in Q4 2024, for an estimated $296,678
- XTX TOPCO LTD added 108,565 shares (+inf%) to their portfolio in Q4 2024, for an estimated $293,125
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$RR Analyst Ratings
Wall Street analysts have issued reports on $RR in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Lake Street issued a "Buy" rating on 03/18/2025
To track analyst ratings and price targets for $RR, check out Quiver Quantitative's $RR forecast page.
Full Release
Georgia supercenter marks third One Kitchen location in collaboration and first to feature Company’s AI-driven Scorpion robot
Las Vegas, NV, March 20, 2025 (GLOBE NEWSWIRE) -- Richtech Robotics Inc. (Nasdaq: RR) (“Richtech Robotics”), a Nevada-based provider of AI-driven service robots, announces today the opening of its newest One Kitchen restaurant in collaboration with Ghost Kitchens America. The Peachtree City, Ga. Walmart Supercenter One Kitchen is the third to open as part of the two companies’ partnership and first to feature AI-driven service robot Scorpion. A grand opening event will take place on March 21 st at 9:30 a.m. at the Walmart located at 2717 Highway 54, Peachtree City, Ga.
“The interest in our AI-powered service robots is rapidly growing in the restaurant industry, driven by the need for enhanced operational efficiency and a unique, engaging customer experience. Today’s announcement underscores our expanding presence within one of the nation’s highest-traffic retail environments,” said Richtech Robotics President, Matt Casella. “Additionally, we expect the Peachtree City One Kitchen to generate a stable revenue stream, strong cash flow, and increased profitability.”
Richtech Robotics’ Scorpion robot will serve patrons a variety of coffees, milk teas, and fruit tea drinks. The robot utilizes NVIDIA AI technology to interact with customers, monitor and adapt to changes in its environment, and craft beverages with a high level of precision and accuracy.
The Peachtree City One Kitchen will be managed by Richtech Robotics’ subsidiary, AlphaMax Management LLC, which will enhance restaurant operations through robotics and AI cloud technology.
About Richtech Robotics
Richtech Robotics is a provider of collaborative robotic solutions specializing in the service industry, including the hospitality and healthcare sectors. Our mission is to transform the service industry through collaborative robotic solutions that enhance the customer experience and empower businesses to achieve more. By seamlessly integrating cutting-edge automation, we aspire to create a landscape of enhanced interactions, efficiency, and innovation, propelling organizations toward unparalleled levels of excellence and satisfaction. Learn more at www.RichtechRobotics.com and connect with us on X (Twitter), LinkedIn , and YouTube .
About Ghost Kitchens International (GKI)
With restaurants across Canada and the US, GKI is expanding to open 240 new restaurants under the ONE KITCHEN banner in USA and Canada. Each restaurant features multiple national brands made to order, a single operator, innovative front and back-of-house technology, and walk-in and delivery customers. For more information go to www.ghostkitchenbrands.com .
Forward Looking Statements
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” and “intend,” among others. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Such forward-looking statements include, but are not limited to, statements regarding the performance of Richtech Robotics’ products and the success of the Richtech Accelerator Program, including the likelihood of improving research efficiency and success rates.
These forward-looking statements are based on Richtech Robotics’ current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements include, among others, risks and uncertainties related to the results of the Richtech Accelerator Program and the ability of AI-powered robotic solutions to improve efficiency. Investors should read the risk factors set forth in Richtech Robotics’ Annual Report on Form 10-K/A, filed with the SEC on February 7, 2025, the IPO registration statement and periodic reports filed with the SEC on or after the date thereof. All of Richtech Robotics’ forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date thereof. New risks and uncertainties arise over time, and it is not possible for Richtech Robotics to predict those events or how they may affect Richtech Robotics. If a change to the events and circumstances reflected in Richtech Robotics’ forward-looking statements occurs, Richtech Robotics’ business, financial condition and operating results may vary materially from those expressed in Richtech Robotics’ forward-looking statements.
Readers are cautioned not to put undue reliance on forward-looking statements, and Richtech Robotics assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Investors:
CORE IR
Matt Blazei
[email protected]
Media:
Timothy Tanksley
Director of Marketing
Richtech Robotics, Inc
[email protected]
702-534-0050
