Richtech withdrew two years of accounts - and quietly two robot lines with them

Richtech Robotics, the Las Vegas maker of service robots listed on Nasdaq as RR, told investors on 7 August that its financial statements for the fiscal years ended September 2025 and 2024, plus four interim periods, should no longer be relied upon. The audit committee reached that conclusion on 9 June while reviewing the March 2026 quarter. The restated annual report was filed the same day as an amended quarterly report and a late one; a formal notice of late filing followed on 14 August, and the delayed quarterly arrived on 19 August. The errors are accounting, not operational. The company says it mishandled warrants issued in equity financings - placement agent warrants that should have counted as non-employee share-based pay, and pre-funded, common and inducement warrants that should have sat on the balance sheet as liabilities and been remeasured at fair value each period. It also failed to treat a standby equity purchase agreement signed with YA II PN in February 2024 as a derivative, misclassified cost of revenue and research spending as general and administrative expense, booked inventory purchases as property and equipment, and shortened the useful lives of certain intangibles. For readers of a robot catalogue, the more interesting sentence sits two pages earlier, in the part of the filing that describes what the company actually sells. "The Skylark line of robots has been discontinued to refocus resources on products with better long-term profitability," it reads. "The Medbot line of robots has been discontinued while we develop new robotic technologies to better service the healthcare sector." That is two whole categories gone. Skylark was a modular hotel robot: one self-driving chassis that rode the building's lifts, with a delivery module for room service and a cleaning module for corridors, plus linen, waste, security and disinfection modules that were advertised and never shipped. Medbot was the hospital courier - four lockable compartments opened by PIN or fingerprint, a machine the company said moved eight to nine thousand deliveries a month in a five-robot fleet. Neither was ever given a published price. What remains is six lines in two pillars: Matradee, ADAM and Scorpion in restaurants and bars; Titan, DUST-E and the newly introduced Dex humanoid in industry. Hospitality delivery now falls to the Matradee restaurant line; healthcare has no successor product at all. The company is not behaving like a business in retreat. On 21 August its board authorised the repurchase of up to $12 million of Class B shares over the following year, announced four days later. The same compensation committee meeting granted the chief executive, chief financial officer and chief operating officer a healthcare stipend of $750 per fortnightly paycheck each, about $19,500 a year apiece. wujec.ai has updated both profiles: Medbot is now marked as withdrawn, and Skylark - which the catalogue did not have - has been added as a retired machine rather than left out. A robot that was sold and then dropped is part of the record.