Richtech Robotics Inc. (NASDAQ: RR) shares slid 12% in premarket trading on Friday after the company disclosed that it will restate previously issued financial statements for several reporting periods because of accounting errors identified by its new auditor.
The Nevada-based robotics firm said on June 9, 2026, that its Audit Committee determined that certain historical financial statements should not be relied upon and must be amended. The company tied the planned restatement to errors in the accounting for warrants issued during the fiscal years ended September 30, 2025 and 2024; to errors connected with its Standby Equity Purchase Agreement with YA II PN, Ltd.; and to mistakes in accounting for restricted stock awards granted in December 2025.
Richtech said the need for restatement surfaced while its new independent registered public accounting firm, CBIZ CPAs P.C., conducted a review of the company’s financial statements for the quarter ended March 31, 2026. The company plans to file an amended Annual Report on Form 10-K/A to restate the audited financial statements for the fiscal years ended September 30, 2025 and September 30, 2024.
In addition to the audited years, the company intends to revise unaudited financial information for several quarterly periods: December 31, 2024; March 31, 2025; June 30, 2025; and December 31, 2025. Those adjustments, Richtech said, will primarily reflect non-cash accounting entries.
Richtech indicated it does not currently expect the restatement to affect its cash position, operating cash flows or business operations. At the same time, the company cautioned that it is evaluating other areas of its accounting and that, if additional errors are identified, required adjustments could be material.
The company previously disclosed a material weakness in internal control over financial reporting as of September 30, 2025. In the current disclosure, Richtech said it now expects to report an additional material weakness related to financial instruments. The company also acknowledged that a material weakness reported at September 30, 2025 - one it had said was remediated in its Form 10-Q for the quarter ended December 31, 2025 - has not in fact been remediated.
Investors reacted to the disclosure with the premarket pullback noted above. The company has outlined the periods and accounting areas it will address but is continuing its review, and any further findings could expand the scope or magnitude of adjustments.
Richtech plans to work with its auditors and to file the amended reports required to correct the affected periods. The company’s announcements identified the accounting categories at issue and the specific reporting periods to be restated, while cautioning that further review may reveal additional matters requiring adjustment.
- Richtech will file amended audited and unaudited financial statements for the periods specified.
- The company is completing a broader evaluation of its accounting across other areas and coordinating with its independent auditor.