Richtech Robotics signs two-year master services agreement with major retailer

Richtech Robotics Inc. (NASDAQ:RR), a technology company maintaining impressive gross profit margins of 76% and strong liquidity ratios according to InvestingPro data, entered into a two-year Master Services Agreement with one of the largest retailers in the world, according to a statement released Monday based on a recent SEC filing.

The agreement, signed on August 21, allows Richtech Robotics to undertake projects for the client under additional statements of work or work orders to be issued by the retailer. The Master Services Agreement will automatically renew for additional 12-month periods unless either party provides written notice of non-renewal at least 60 days prior to the end of the term.

The agreement contains provisions covering intellectual property and confidentiality, which are described as customary for such contracts. No further details on the scope of the projects or financial terms were disclosed in the filing.

Richtech Robotics is incorporated in Nevada and is listed on the Nasdaq Stock Market under the ticker RR. The company’s principal executive offices are located in Las Vegas, Nevada.

This information is based on a press release statement included in the company’s Form 8-K filing with the Securities and Exchange Commission.

In other recent news, Richtech Robotics Inc. announced a significant sales agreement valued at over $4 million with Beijing Tongchuang Technology Development Co., Ltd. The deal involves the purchase, service, and software licensing of products from Richtech’s ADAM, Scorpion, and Titan product lines. This agreement is expected to contribute to the company’s fourth-quarter revenue and generate recurring revenue in the future. Additionally, Richtech Robotics has formed a Strategic Cooperation Agreement with Beijing City of Design Development Co., Ltd. through their joint venture, Boyu Artificial Intelligence (Beijing) Technology Co., Ltd. This partnership will focus on joint research and development and commercialization of service-robotics solutions. Meanwhile, Richtech’s AI-powered robot, ADAM, has served over 16,000 drinks at the company’s Clouffee & Tea location in Las Vegas since its opening in February 2025. The robot uses advanced technology to prepare and serve a variety of beverages with precision. These developments highlight Richtech’s ongoing expansion and innovation efforts in the robotics industry.

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