Richtech Robotics Selects CBIZ CPAs P.C. as New Independent Auditor

Rhea-AI Summary

Richtech Robotics (Nasdaq: RR) selected CBIZ CPAs P.C. as its independent auditor, effective March 17, 2026.

The Audit Committee and board approved CBIZ to audit fiscal year 2026 financials and perform quarterly reviews for periods ending March 31, 2026 and June 30, 2026. The company concurrently terminated prior auditor Bush & Associates.

Positive

• CBIZ appointed effective March 17, 2026
• Full audit scope for fiscal year ending September 30, 2026
• Quarterly reviews scheduled for March 31, 2026 and June 30, 2026
• Alignment with strategy noted toward recurring revenue accounting

Negative

• Prior auditor terminated (Bush & Associates; auditor for fiscal 2024 and 2025)

Key Figures

Quarterly revenue: $1.15 million Net loss: $8.4 million Cash & equivalents: $271.8 million +5 more

8 metrics

Quarterly revenue $1.15 million Quarter ended Dec 31, 2025 (vs. $1.26M prior year)

Net loss $8.4 million Quarter ended Dec 31, 2025, widened from $3.5M

Cash & equivalents $271.8 million Liquidity as of Dec 31, 2025, before $38.7M private placement

RaaS revenue $0.3 million Q1 FY2026 RaaS revenue, +31% year-over-year

Private placement gross $38.7 million At-the-market private placement closed Jan 29, 2026

Shares issued 8,500,000 shares Class B shares in January 2026 private placement

Vanguard ownership 5.29% stake 8,385,468 shares beneficially owned as of Dec 31, 2025

Adjusted net loss $0.1 million Non-GAAP net loss excluding $8.3M stock-based compensation

Market Reality Check

Price: $2.23 Vol: Volume 7,756,262 vs 20-da...

normal vol

$2.23 Last Close

Volume Volume 7,756,262 vs 20-day average 9,511,525 (relative volume 0.82) ahead of this auditor news. normal

Technical Price $2.231 is trading below the 200-day MA of $3.31 and 69.97% below the 52-week high of $7.43.

Peers on Argus

RR showed a -3.45% move while peers were mixed: GHM +4.8%, KRNT +1.57%, LXFR +3....

RR showed a -3.45% move while peers were mixed: GHM +4.8%, KRNT +1.57%, LXFR +3.32%, OFLX +2.91%, SERV -0.22%. This points to stock-specific dynamics rather than a broad sector move.

Historical Context

5 past events · Latest: Feb 24 (Negative)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 24	Class action lawsuit	Negative	-1.9%	Securities class action filing with shares down 1.91% next day.
Feb 17	Shareholder letter & results	Neutral	-7.4%	Strategic update and Q1 FY2026 metrics; stock moved -7.38%.
Jan 29	Private placement closing	Negative	-10.9%	Closing of $38.7M private placement; shares fell 10.95%.
Jan 28	Private placement deal	Negative	-7.8%	Announcement of 8.5M-share private placement; stock dropped 7.8%.
Jan 27	AI collaboration	Positive	+44.6%	Microsoft AI co-innovation collaboration; shares gained 44.62%.

Pattern Detected

Recent RR news with clearly positive or negative implications (Microsoft collaboration, private placements, lawsuit) generally saw price moves aligned with the news tone, including large upside on the Microsoft AI collaboration and notable declines on financing and legal headlines.

Recent Company History

Over the last few months, Richtech Robotics has combined strategic announcements with significant capital markets activity. A collaboration with Microsoft on agentic AI for its ADAM robot on Jan 27, 2026 coincided with a 44.62% gain. This was followed by at-the-market private placement announcements on Jan 28–29, 2026 totaling about $38.7 million in gross proceeds, which were met with -7.8% and -10.95% moves. A February shareholder letter detailing RaaS growth and losses and a late-February securities class action headline both saw additional negative reactions. The current auditor change fits into this backdrop of governance, financing, and strategic evolution.

Regulatory & Risk Context

Active S-3 Shelf · $1,000,000,000

Shelf Active

Active S-3 Shelf Registration 2025-09-23

$1,000,000,000 registered capacity

An effective S-3ASR shelf filed on Sep 23, 2025 allows Richtech Robotics to issue various securities, including up to $1,000,000,000 of Class B common stock via an ATM program with Rodman & Renshaw and H.C. Wainwright. The filing cites intended uses such as working capital and general corporate purposes, and highlights risks including supply-chain constraints, competition, regulatory uncertainty, IP protection, and financing needs.

Market Pulse Summary

This announcement details Richtech Robotics’ change of independent auditor to CBIZ for fiscal 2026, ...

Analysis

This announcement details Richtech Robotics’ change of independent auditor to CBIZ for fiscal 2026, following board and Audit Committee approval. It connects to previously disclosed internal-control weaknesses around complex accounting and the company’s transition toward recurring revenue. Recent history includes sizeable equity financing and strong liquidity, alongside widening losses. Investors monitoring this development may focus on progress in internal-control remediation, the quality and timeliness of upcoming filings, and how accounting oversight evolves with the recurring-revenue model.

Key Terms

independent auditor, audit committee

2 terms

independent auditor regulatory

"announces it has selected CBIZ CPAs P.C. (“CBIZ”) as its independent auditor for"

An independent auditor is an outside, qualified accounting professional or firm that examines a company's financial records and controls to determine whether its financial statements are accurate and prepared according to accepted accounting rules. Like a neutral referee or home inspector, the auditor issues a report that gives investors confidence (or raises red flags) about the reliability of the numbers, which affects assessments of risk, valuation and investment decisions.

audit committee regulatory

"after completing a thorough evaluation process, the Audit Committee and Richtech Robotics’ Board"

A company's audit committee is a small group of board members who act like independent inspectors for the firm's finances, overseeing how financial reports are prepared, monitoring internal controls, and managing the relationship with external auditors. Investors care because a strong audit committee reduces the risk of accounting errors, fraud, or misleading statements, making financial statements more trustworthy and helping protect shareholder value.

AI-generated analysis. Not financial advice.

LAS VEGAS, March 20, 2026 (GLOBE NEWSWIRE) -- Richtech Robotics Inc. (Nasdaq: RR) (“Richtech Robotics” or the “Company”), a U.S.-based provider of AI-driven robots operating in commercial and industrial environments, announces it has selected CBIZ CPAs P.C. (“CBIZ”) as its independent auditor for the Company’s financial reports of fiscal year 2026. On March 17, 2026, after completing a thorough evaluation process, the Audit Committee and Richtech Robotics’ Board of Directors approved the appointment of CBIZ as independent auditor, effective immediately. Concurrently, the Company announced the termination of its prior independent auditor Bush & Associates, the firm responsible for the audit of the Company’s financial statements for fiscal years 2024 and 2025.

“As Richtech Robotics continues to evolve as a public company, the selection of CBIZ aligns with our strategic growth objectives, the shift of our recognition to a recurring revenue business, and the associated complex financial accounting standards,” said Wayne Huang, Richtech Robotics Founder and Chief Executive Officer. “We are confident in CBIZ’s professional qualifications, expertise and independence to deliver on decisive oversight of our fiscal 2026 financials and adhere to prompt and orderly regulatory filing timelines.”

CBIZ will commence its duties as the Company’s independent auditor and implement complete audit processes, oversight and control of Richtech Robotics’ financial statements for the fiscal year ending September 30, 2026, and quarterly reviews of the Company’s financial statements for the periods ending March 31, 2026 and June 30, 2026.

About Richtech Robotics

Richtech Robotics develops advanced robotic solutions and the data infrastructure that makes its robots more intelligent. Guided by three strategic pillars — Industrial, Commercial, and Data Services — Richtech Robotics aims to deliver dependable automation, consistent service performance, and continuous AI-driven improvement at scale. From factory floors to hospitality venues, our robots work alongside people to enhance efficiency, precision, and quality. Learn more at www.RichtechRobotics.com, and connect with us on X, LinkedIn and YouTube.

Forward Looking Statements

Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” and “intend,” among others. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties.

These forward-looking statements are based on Richtech Robotics’ current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, risks related to the ability of Richtech Robotics to adhere to regulatory filing timelines. Investors should read the risk factors set forth in Richtech Robotics’ Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the “SEC”) on January 20, 2026, and periodic reports filed with the SEC on or after the date thereof. All of Richtech Robotics’ forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date thereof. New risks and uncertainties arise over time, and it is not possible for Richtech Robotics to predict those events or how they may affect Richtech Robotics. If a change to the events and circumstances reflected in Richtech Robotics’ forward-looking statements occurs, Richtech Robotics’ business, financial condition and operating results may vary materially from those expressed in Richtech Robotics’ forward-looking statements.

Readers are cautioned not to put undue reliance on forward-looking statements, and Richtech Robotics assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:

Investors:
CORE IR
investors@richtechrobotics.com

Media:
Richtech Robotics, Inc.
press@richtechrobotics.com

FAQ

Who is the new auditor for Richtech Robotics (RR) and when did the appointment take effect?

The new auditor is CBIZ CPAs P.C., and the appointment took effect on March 17, 2026. According to the company, the Audit Committee and board approved CBIZ after a thorough evaluation process.

What periods will CBIZ audit and review for Richtech Robotics (RR)?

CBIZ will audit the company’s fiscal year ending September 30, 2026 and perform quarterly reviews for periods ending March 31, 2026 and June 30, 2026. According to the company, CBIZ will implement complete audit processes and oversight.

Which auditor was replaced by CBIZ for Richtech Robotics (RR)?

The company terminated its prior independent auditor, Bush & Associates, which audited fiscal years 2024 and 2025. According to the company, the change is effective immediately with CBIZ commencing duties now.

Why did Richtech Robotics (RR) select CBIZ as its independent auditor?

The company said it selected CBIZ to support strategic growth and complex accounting tied to a shift toward recurring revenue. According to the company, CBIZ’s qualifications and independence informed the selection.

Will the auditor change affect Richtech Robotics’ (RR) regulatory filing timelines?

The company expressed confidence that CBIZ will adhere to prompt and orderly regulatory filing timelines. According to the company, CBIZ is expected to provide decisive oversight for fiscal 2026 financials and quarterly reviews.