Dragontail goes live at Pizza Hut in the UK, shares bounce off recent lows
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AI tech platform Dragontail Systems (ASX:DTS) is chipping away at the global rollout for its network of fast food customers.
The latest store customer is Pizza Hut in the UK, where the company has commenced the implementation of its in-store platform in select stores over the past two weeks. Dragontail said it hoped to complete a national rollout by early next year.
Once the rollout is complete, DTS said it would be the fourth such nationwide rollout globally, joining national footprints in Australia, Canada and Singapore.
Shares in the company bounced in morning trade, although the stock is well off 12-month highs of almost 30c reached at this time last year.
Faster fast food
Dragontail’s Algo platform deploys an “optimisation algorithm”, which the company said helps to streamline efficiencies in the restaurant order and delivery process.
Software functionality includes order prioritisation at the food preparation stage, and optimal food dispatch options factoring in traffic changes.
DTS said the UK agreement takes the total number of its contracted stores to 3,814, up from 2,191 as at the end of December 2018.
While its footprint grows, Dragontail’s quarterly 4C filing showed cash receipts of $244,000 in the September quarter, with operating outflows of more than $1.5m led by R&D and product manufacturing costs.
The company said operating expenses came in below budget, and it finished the quarter with $3.6m cash at bank.
The company’s store network in the local region includes both Pizza Hut and Dominos, where its technology is deployed in more than 800 stores across Australia and NZ.
In other ASX tech news today:
B2B software company 9 Spokes (ASX:9SP) continues to circle with potential dance-partner Visa, after the two companies signed a collaboration framework agreement earlier this year. The company said its now signed an addendum to that agreement, “enabling the parties to explore a potential opportunity to make the 9 Spokes Marketplace platform available to Visa’s SMB clients worldwide”.
And wastewater tech company Fluence Corporation (ASX:FLC) said it has secured a contract “with a value exceeding $US5m” to provide its Smart Products Solution water treatment system to a greenfield lithium mining project in Argentina. The company said delivery of the system will take place late next year, before its commissioned in 2021.
