Richtech Robotics Inc. will restate its audited financial statements for the fiscal years ended September 30, 2025 and September 30, 2024 due to accounting errors identified by its new independent registered public accounting firm. The company concluded that previously issued financial statements for these periods, along with unaudited interim reports for several quarters in 2024 and 2025, should not be relied upon. The restatement primarily addresses failures in accounting for liabilities associated with warrants issued in fiscal years 2024 and 2025, errors related to the Standby Equity Purchase Agreement (SEPA) with YA II PN, Ltd., and accounting for restricted stock awards issued in December 2025.

The discovery of these errors occurred during a review of the financial statements for the quarter ended March 31, 2026 by CBIZ CPAs P.C., which was recently appointed as the company's independent registered public accounting firm. Richtech Robotics plans to file a Comprehensive Amended Form 10-K/A for the fiscal year ended September 30, 2025, which will include restated financial information for the fiscal years 2024 and 2025, as well as restated unaudited data for the quarters ended December 31, 2024, March 31, 2025, and June 30, 2025. An amended Quarterly Report on Form 10-Q/A will be filed to restate the financial statements for the quarter ended December 31, 2025.

Based on preliminary analysis, the company expects the restatement to involve non-cash accounting adjustments and does not anticipate an impact on its cash position, operating cash flows, or business operations. The company is evaluating potential errors in other areas, which could result in material adjustments if confirmed. The identification of errors remains preliminary and unaudited, subject to change as procedures are completed.

Richtech Robotics had previously reported a material weakness in internal control over financial reporting as of September 30, 2025. Following the discovery of the accounting errors, the company is conducting an ongoing evaluation of its internal controls and expects to report an additional material weakness relating to financial instruments. The company noted that the material weakness reported as of September 30, 2025, which was previously indicated as remediated in the Form 10-Q for the quarter ended December 31, 2025, has not been remediated.

CBIZ CPAs has not audited or reviewed the company's annual financial statements for the fiscal year ended September 30, 2025 or any prior periods. The firm was appointed to audit the financial statements for the fiscal year ending September 30, 2026, as disclosed in a Form 8-K filed on March 19, 2026. The company's management and Audit Committee have discussed the restatement matters with CBIZ CPAs.

Key Periods Affected by Restatement

Kuehn Law, PLLC is investigating potential breaches of fiduciary duties by certain officers and directors of Richtech Robotics Inc. The law firm is examining allegations that insiders at Richtech Robotics caused the company to misrepresent or fail to disclose material facts regarding its business operations. This investigation follows a federal securities lawsuit that questions the accuracy of statements made by the company.

The lawsuit alleges that Richtech Robotics claimed to have a collaborative and commercial relationship with Microsoft when no such relationship existed. Consequently, the complaint asserts that statements regarding Richtech's business, operations, and prospects were materially false and misleading. These alleged misrepresentations are central to the investigation into whether corporate governance failures occurred at the company.

Shareholder Call to Action

Kuehn Law is urging investors who currently own Richtech Robotics stock and purchased shares prior to January 27, 2026, to come forward. The firm emphasizes that shareholders should act immediately due to potential time limits on enforcing their rights. Participation in the investigation allows investors to contribute to the integrity of the financial markets.

Contact Information

Affected shareholders are advised to contact Justin Kuehn, Esq. to discuss their legal options. Kuehn Law covers all case costs and does not charge its investor clients for representation. The firm provides the following contact details for shareholders seeking assistance or additional information.

This communication is attorney advertising, and prior results do not guarantee similar outcomes. Shareholders are encouraged to review the full details of the investigation to understand their potential involvement.