RICHTECH ROBOTICS Business Summary

Richtech Robotics Inc. (RR) operates as an embodied AI and robotics provider, generating revenue through a strategic shift from one-time hardware sales to a recurring Robots-as-a-Service (RaaS) model, long-term leasing, and service subscriptions. The company’s operations are organized into three primary segments: Commercial Robotics, which deploys service robots like the ADAM barista and Matradee server in hospitality and retail; Industrial Robotics, focused on manufacturing and logistics solutions such as the Dex humanoid and Titan delivery robots; and Data Services, a high-margin division that monetizes operational data by providing training datasets to frontier AI companies. RR competes directly with specialized service robotics firms such as Serve Robotics, Bear Robotics, Pudu Robotics, and Miso Robotics, positioning itself as a vertically integrated "Physical AI" leader that bridges the gap between hardware and autonomous intelligence to solve acute labor shortages in the service and industrial sectors. Founded in 2016 by brothers Wayne Huang (Zhen Wu Huang) and Michael Huang (Zhen Qiang Huang), the leadership team combines deep technical expertise with operational scale. CEO Wayne Huang is a prolific inventor with over 20 years of experience in computer vision and facial recognition technology, while CFO Michael Huang oversees global supply chain and product development. The executive suite is rounded out by COO Phil Zheng, a UC Irvine JD graduate who manages sales and customer success, and President Matthew Casella. The company’s board features significant industry pedigree, including John Shigley, former CFO of MGM Grand and President of Caesars Palace, and Saul Factor, a former McKesson executive. Notable institutional backing includes major positions from BlackRock, Vanguard, and State Street, reflecting the company's transition into a mature public entity on the NASDAQ.