Richtech Robotics to Restate FY24, FY25 Financial Reports After Finding Errors

Dow Jones06-12

By Kelly Cloonan

Richtech Robotics plans to restate financial results from its last two fiscal years after finding several errors in the statements from both periods.

The company disclosed Friday that it found errors in its audited financial statements for the fiscal years ended Sept. 30, 2025 and Sept. 30, 2024, as well as in its unaudited interim financial reports for the periods ended Dec. 31, 2024, as well as March 31, June 30 and Dec. 31 of 2025.

The errors relate to the company's failure to properly account for the liability associated with its warrants issued during fiscal 2025 and 2024, as well as certain errors relating to its accounting for a 2024 standby equity purchase agreement with YA II PN. The company also pointed to errors related to the accounting for certain restricted stock awards issued in December 2025.

Richtech said its new independent registered public accounting firm CBIZ CPAs discovered the errors while reviewing the company's financial statements for the quarter ended March 31.

The stock slid 17% to $1.91 in early trading on Friday. Through Thursday's market close, shares are down 29% year to date.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

June 12, 2026 06:51 ET (10:51 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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