Richtech Robotics Selects CBIZ CPAs P.C. as New Independent Auditor
Richtech Robotics (Nasdaq: RR) selected CBIZ CPAs P.C. as its independent auditor, effective March 17, 2026.
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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)
Details
News Market Reaction – RR
On Mar 20, the day this news came out, RR closed 3.57% below the previous close.
Data tracked by StockTitan Argus for the Mar 20 session.
Key Figures
- 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
Historical Context
-
Securities class action filing with shares down 1.91% next day.
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Strategic update and Q1 FY2026 metrics; stock moved -7.38%.
-
Closing of $38.7M private placement; shares fell 10.95%.
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Announcement of 8.5M-share private placement; stock dropped 7.8%.
-
Microsoft AI co-innovation collaboration; shares gained 44.62%.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
independent auditor regulatory
audit committee regulatory
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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
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