Key HighlightsShares of Richtech Robotics (RR) declined approximately 10–12% during premarket hours Friday following disclosure of significant accounting mistakesCBIZ CPAs P.C., the company’s newly appointed audit firm, identified the issues during their examination of first quarter 2026 financial dataAccounting failures involve improper treatment of warrants, a standby equity agreement, and restricted stock compensation from late 2025Financial restatements will cover fiscal 2024 and 2025 through multiple amended regulatory submissionsWhile adjustments are anticipated to be primarily non-cash in nature, management cautioned that certain corrections may prove materialShares of Richtech Robotics (RR) tumbled between 10% and 12% in premarket session Friday following the company’s announcement that it must restate financial results spanning several reporting periods.Richtech Robotics Inc. Class B Common Stock, RRThe revelation emerged through a Securities and Exchange Commission filing submitted June 9, 2026, where Richtech’s Audit Committee concluded that certain previously released financial statements should no longer be considered reliable.The accounting discrepancies were identified by CBIZ CPAs P.C., the company’s recently engaged independent auditing firm, during their review of financial results for the three months ending March 31, 2026.CBIZ identified three principal areas of concern. The first involves incorrect accounting treatment for warrant liabilities during the fiscal periods concluding in September 2024 and September 2025. The second relates to misapplication of accounting standards for the Standby Equity Purchase Agreement entered with YA II PN, Ltd. The third concerns improper accounting for restricted stock awards granted during December 2025.The auditing firm additionally noted that any investor communications, earnings announcements, or press materials related to these timeframes should be considered unreliable.Scope of Financial RestatementsRichtech intends to submit an amended Form 10-K/A for its fiscal year concluding September 30, 2025. Additionally, the company will file corrected quarterly reports covering the periods ending December 31, 2024, March 31, 2025, June 30, 2025, and December 31, 2025.Management indicated that restatements are expected to “primarily involve non-cash accounting adjustments” without anticipated impact on available cash, cash flow from operations, or fundamental business activities.Nevertheless, Richtech acknowledged ongoing examination of additional potential accounting errors. Should these prove erroneous, the necessary corrections “could be material,” according to company disclosures.Internal Control Deficiencies PersistCompounding investor anxiety, Richtech revealed that a previously disclosed material weakness in internal financial controls reported as of September 30, 2025 remains unresolved — contradicting earlier assertions that the deficiency had been addressed.“We indicated in the Form 10-Q for the quarter ended December 31, 2025, that the material weakness that was reported at September 30, 2025, was remediated. This material weakness has not been remediated,” Richtech stated in the regulatory filing.The organization now anticipates disclosing an additional material weakness specifically concerning accounting for financial instruments. Final determinations from the current assessment will be included in the upcoming amended Form 10-K/A.Richtech further warned that conclusions regarding other potential error categories remain incomplete, suggesting the possibility of further adjustments ahead.The stock traded down roughly 10% during Friday’s premarket session.The post Richtech Robotics (RR) Stock Plunges 12% Following Multi-Year Financial Restatement Announcement appeared first on Blockonomi.