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 second quarter of 2025. The report highlights the company's financial performance and strategic business initiatives, reflecting a significant shift towards a Robots-as-a-Service (RaaS) model. This transition aims to build a stable base of recurring revenue through multi-year service agreements, moving away from one-time product sales.

Financial Highlights

Revenue, net: $3.6 million, decreased by $0.1 million or approximately 3.1% compared to the same period in 2024, reflecting a strategic shift to a Robots-as-a-Service (RaaS) model.

Gross profit: $2.7 million, increased by $0.4 million or approximately 18.2% compared to the same period in 2024, primarily due to a decrease in cost of revenue and a shift to RaaS offerings.

Loss from operations: $(13.3) million, increased by $9.2 million compared to the same period in 2024, driven by higher general and administrative expenses.

Consolidated net loss: $(12.2) million, increased by $7.1 million compared to the same period in 2024, primarily due to increased operating expenses.

Net loss attributable to common stockholders: $(12.2) million, increased by $7.0 million compared to the same period in 2024.

Basic and diluted net loss per share of common stock: $(0.11), compared to $(0.07) for the same period in 2024, reflecting the increased net loss.

Business Highlights

Revenue Segments: The company reported a strategic shift towards a Robots-as-a-Service (RaaS) model, focusing on building recurring revenue through multi-year service agreements rather than one-time product sales. This transition is expected to increase the base of contracted recurring revenue over time.

Geographical Performance: The company continued to expand its RaaS model in the U.S., executing a Master Services Agreement with a U.S. car retailer/dealership group and completing installations of Titan robots at five dealership locations. Additional locations are in the installation queue, with deployments expected to increase.

Sales Units: The company reported a decrease in product revenue for the three months ended June 30, 2025, primarily due to a strategic shift towards leasing arrangements, which impacts the timing of revenue recognition.

New Production Launches: On May 15, 2025, the company completed the purchase of a 20,000 sq. ft. property in Las Vegas, NV, for $4.1 million, funded with cash on hand, and relocated its headquarters to the site. This facility is intended to further integrate domestic sourcing and expand assembly and manufacturing operations.

Future Outlook: The company expects that as its installed base continues to expand, recurring revenue will cover a substantial portion of its operating cost base, providing a more stable foundation for long-term growth. The company is also broadening its RaaS footprint beyond automotive services into factory manufacturing, initiating customer engagements for in-plant transport of materials and components.

SEC Filing: RICHTECH ROBOTICS INC. [ RR ] - 10-Q - Aug. 11, 2025