Richtech Robotics Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Richtech Robotics Inc. has filed its 2023 Form 10-K, detailing its operations and financial status.</b>

AI Summary

RICHTECH ROBOTICS INC. (RR) filed a Annual Report (10-K) with the SEC on January 11, 2024. Richtech Robotics Inc. filed its annual report on Form 10-K for the fiscal year ended September 30, 2023. The company is incorporated in Nevada and its principal executive offices are located in Las Vegas, NV. Richtech Robotics Inc. is registered with the SEC under file number 001-41866. The company's Class B Common Stock trades on The Nasdaq Stock Market LLC under the symbol RR. Richtech Robotics Inc. is classified as a non-accelerated filer, a smaller reporting company, and an emerging growth company.

Why It Matters

For investors and stakeholders tracking RICHTECH ROBOTICS INC., this filing contains several important signals. This filing provides a comprehensive overview of Richtech Robotics Inc.'s business, financial condition, and risk factors for the fiscal year ended September 30, 2023, crucial for investors to assess the company's performance and outlook. As a non-accelerated filer and smaller reporting company, this 10-K offers insights into a company that may be in an earlier stage of development or growth, potentially presenting different investment profiles compared to larger, more established firms.

Risk Assessment

Risk Level: low — RICHTECH ROBOTICS INC. shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate red flags, but a full analysis of the financial statements and risk factors within the report is needed for a complete risk assessment.

Analyst Insight

Review the full 10-K filing for detailed financial statements, management discussion, and risk factors to understand Richtech Robotics Inc.'s operational performance and future prospects.

Key Numbers

• 2023-09-30 — Fiscal Year End (The period covered by the 10-K filing.)
• 2024-01-11 — Filing Date (The date the 10-K was filed with the SEC.)
• 001-41866 — SEC File Number (The company's SEC registration number.)
• RR — Trading Symbol (The stock ticker for Richtech Robotics Inc. Class B Common Stock.)

Key Players & Entities

• RICHTECH ROBOTICS INC. (company) — Registrant name
• 001-41866 (regulator) — Commission file number
• 20230930 (date) — Fiscal year end
• 20240111 (date) — Filing date
• The Nasdaq Stock Market LLC (company) — Exchange where Class B Common Stock is registered
• RR (company) — Trading symbol for Class B Common Stock
• Nevada (jurisdiction) — State of incorporation
• 4175 Cameron St Ste 1 Las Vegas, NV 89103 (address) — Principal executive offices

Forward-Looking Statements

• RICHTECH ROBOTICS INC. will continue to meet its SEC filing obligations. (RICHTECH ROBOTICS INC.) — high confidence, target: September 30, 2024

FAQ

Industry Context

The filing pertains to Richtech Robotics Inc., operating within the industrial machinery and equipment sector, as indicated by its SIC code.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, specifically Section 13 or 15(d), and adheres to SEC regulations for annual reports.

What Investors Should Do

1. Thoroughly review the financial statements and Management's Discussion and Analysis of Financial Condition and Results of Operations within the 10-K.
2. Analyze the Risk Factors section to identify potential challenges and uncertainties facing Richtech Robotics Inc.
3. Examine any exhibits or supplementary schedules attached to the 10-K for additional relevant information.

Key Dates

• 2023-09-30: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-01-11: Filing Date — The date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year ended September 30, 2023, as no prior period data is presented in this extract for comparison.

Key Financial Figures

• $0.00001 — tered: Class B Common Stock, par value $0.00001 per share RR The Nasdaq Stock Market LL
• $9,000 — 2023, we have received a lease order of $9,000 under this MSA. Additionally, we entere
• $306,914 — September 30, 2023, we have recognized $306,914 in revenue under this MSA. For more det
• $1 b — as companies with annual revenues over $1 billion, have placed service automation a

Filing Documents

• f10k2023_richtech.htm (10-K) — 1088KB
• f10k2023ex3-3_richtech.htm (EX-3.3) — 174KB
• f10k2023ex4-3_richtech.htm (EX-4.3) — 22KB
• f10k2023ex14_richtech.htm (EX-14) — 39KB
• f10k2023ex19_richtech.htm (EX-19) — 79KB
• f10k2023ex23-1_richtech.htm (EX-23.1) — 3KB
• f10k2023ex31-1_richtech.htm (EX-31.1) — 10KB
• f10k2023ex31-2_richtech.htm (EX-31.2) — 10KB
• f10k2023ex32-1_richtech.htm (EX-32.1) — 4KB
• f10k2023ex32-2_richtech.htm (EX-32.2) — 5KB
• image_001.jpg (GRAPHIC) — 162KB
• image_002.jpg (GRAPHIC) — 177KB
• image_003.jpg (GRAPHIC) — 96KB
• image_004.jpg (GRAPHIC) — 17KB
• image_005.jpg (GRAPHIC) — 26KB
• image_006.jpg (GRAPHIC) — 27KB
• image_007.jpg (GRAPHIC) — 215KB
• image_008.jpg (GRAPHIC) — 141KB
• image_009.jpg (GRAPHIC) — 7KB
• ex23-1_001.jpg (GRAPHIC) — 22KB
• 0001213900-24-003044.txt (&nbsp;) — 6694KB
• rr-20230930.xsd (EX-101.SCH) — 29KB
• rr-20230930_cal.xml (EX-101.CAL) — 32KB
• rr-20230930_def.xml (EX-101.DEF) — 142KB
• rr-20230930_lab.xml (EX-101.LAB) — 268KB
• rr-20230930_pre.xml (EX-101.PRE) — 151KB
• f10k2023_richtech_htm.xml (XML) — 402KB

Business

Business 2 Item 1A.

Risk Factors

Risk Factors 20 Item 1B. Unresolved Staff Comments 36 Item 1C Cybersecurity 36 Item 2.

Properties

Properties 36 Item 3. Legal Proceedings 37 Item 4. Mine Safety Disclosures 37 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 38 Item 6. Reserved 40 Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 40 Item 7A. Quantitative and Qualitative Disclosures About Market Risk 45 Item 8. Financial 45 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 45 Item 9A. Controls and Procedures 45 Item 9B. Other Information 47 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 47 PART III Item 10. Directors, Executive Officers and Corporate Governance 48 Item 11. Executive Compensation 55 Item 12. Security 59 Item 13. Certain Relationships and Related Transactions, and Director Independence 61 Item 14. Principal Accounting Fees and Services 62 PART IV Item 15. Exhibits and Financial Statement Schedules 63 Item 16. Form 10-K Summary 63 i PART I CAUTIONARY NOTE ON FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K (this "Report") contains forward-looking statements that involve risks and uncertainties. You should not place undue reliance on these forward-looking statements. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons, including the reasons described in our "Business," "Risk Factors," and "Management Discussion and Analysis of Financial Condition and Result of Operations" sections, as well as those discussed elsewhere in this Report. In some cases, you can identify these forward-looking statements by terms such as "anticipate," "believe," "continue," "could," "depends," "estimate," "expects," "intend," "may," "ongoing

Business

ITEM 1. Business Overview and Recent Developments We are a developer of advanced robotic technologies focused on transforming labor-intensive services in hospitality and other sectors currently experiencing unprecedented labor shortages. With a global R&D team based out of China and the United States, we design, manufacture and sell robots to restaurants, hotels, senior living centers, casinos, factories, movie theaters and other businesses. Our robots perform a variety of services including restaurant running and bussing, hotel room service delivery, floor scrubbing and vacuuming, and beverage and food preparation. We design our robots to be friendly, customizable to client environments, and extremely reliable. For example, our food service delivery robots typically make over 1000 deliveries every month in busy environments. Our current customer base includes major hotel brands, national chain restaurants, leading senior care facilities, and top casino management companies. Our mission is to integrate robotics and automation into our everyday lives. We envision ourselves becoming the first robotics "Super-operator," where thousands of our robots are deployed out in the field and managed by Richtech's AI Cloud Platform (ACP). As a Super-operator, our robotic fleet will be performing a wide variety of tasks within a business, from completing deliveries and scrubbing floors to cooking noodles and preparing drinks. Our ACP platform will allow businesses to plug in their robots and immediately leverage an immense amount of data to optimize workflows, lower management complexity, and minimize labor dependency. In 2022, we executed a Master Service Agreement ("MSA") with a major hotel brand with over 5,000 properties worldwide. As of September 30, 2023, we have begun a nationwide rollout of our products to this customer's hotel locations under this MSA. We also entered into an MSA with one of the nation's largest restaurant chains with over 2,000 locations in the Un

View Full Filing

View this 10-K filing on SEC EDGAR