Richtech Robotics Inc (NASDAQ:RR) shares dropped 12% in premarket trading on Friday after the company revealed plans to restate financial statements covering multiple reporting periods following the identification of accounting errors.
The Nevada-based robotics developer disclosed that its Audit Committee determined on June 9, 2026, that previously issued financial statements should no longer be relied upon and would need to be revised.
Accounting Issues Span Multiple Reporting Periods
According to the company, the restatement relates to several accounting matters, including the treatment of warrants issued during the fiscal years ended September 30, 2025 and 2024, certain accounting errors connected to its Standby Equity Purchase Agreement with YA II PN, Ltd., and inaccuracies involving restricted stock awards granted in December 2025.
The issues came to light during a review of the company’s financial statements for the quarter ended March 31, 2026, conducted by its newly appointed independent registered public accounting firm, CBIZ CPAs P.C.
Company to Revise Annual and Quarterly Results
Richtech Robotics said it intends to amend its audited financial statements for the fiscal years ended September 30, 2025 and 2024 through a revised Annual Report on Form 10-K/A.
In addition, the company plans to restate unaudited quarterly financial information for the periods ended December 31, 2024, March 31, 2025, June 30, 2025, and December 31, 2025.
Restatement Expected to Be Largely Non-Cash
Management indicated that the anticipated revisions are expected to consist primarily of non-cash accounting adjustments.
At this stage, the company does not believe the restatement will have any impact on its cash position, operating cash flow, or day-to-day business operations.
However, Richtech noted that it continues to review other accounting areas and cautioned that any additional issues identified during the process could result in material adjustments.
Internal Control Concerns Persist
The company had previously disclosed a material weakness in its internal controls over financial reporting as of September 30, 2025.
Richtech now expects to report an additional material weakness related to the accounting treatment of financial instruments.
The company also acknowledged that a material weakness previously disclosed at September 30, 2025, and later reported as remediated in its Form 10-Q for the quarter ended December 31, 2025, has in fact not been resolved.
The latest disclosure raises fresh concerns about the effectiveness of the company’s financial reporting controls as it works to complete the restatement process and address ongoing accounting deficiencies.