ScanTech AI Systems Announces Restated Q1 and Reviewed Q2 2025 Financial Statements Under New Auditor — Key Step in Nasdaq Re-Compliance Program
Rhea-AI Summary
ScanTech AI Systems (Nasdaq: STAI) filed a restated Q1 2025 and reviewed Q2 2025 financial statements with the SEC under its new auditor, Berkowitz Pollack Brant Advisors + CPAs (BPB).
The restatement follows a prior determination of non-reliance on earlier interim financials and reflects adjustments identified during the auditor transition. The reviewed Q2 2025 filing gives an independently evaluated view of the company’s position at that time.
ScanTech AI said it is working to finalize and file Q3 2025 financials with the aim of restoring Nasdaq compliance by early December 2025, and cited this step as a milestone in its governance, audit, and disclosure alignment.
Positive
- Q1 2025 restatement filed under new auditor BPB
- Q2 2025 reviewed financials provide independent evaluation
- Company aims to restore Nasdaq compliance by early December 2025
Negative
- Prior non-reliance determination on earlier interim financials
- Restatement indicates prior reporting adjustments were required
- Q3 2025 financials remain unfiled at time of announcement
Insights
Completed restatement and reviewed filings are a material step toward Nasdaq re‑compliance but carry mixed governance signals.
The submission of restated
However, a restatement combined with a prior non-reliance determination signals prior accounting or control deficiencies that require monitoring; the filing itself does not guarantee absence of further issues. Key dependencies include completion and audit of
Atlanta, GA, Nov. 28, 2025 (GLOBE NEWSWIRE) -- ScanTech AI Systems Inc. (the "Company" or "ScanTech AI") (Nasdaq: STAI), a developer of advanced AI-powered security screening and imaging systems, today announced that it has filed restated financial statements for the quarter ended March 31, 2025 (Q1 2025) and reviewed financial statements for the quarter ended June 30, 2025 (Q2 2025) with the U.S. Securities and Exchange Commission (SEC). The filings were completed under the oversight of the Company’s new independent registered public accounting firm, Berkowitz Pollack Brant Advisors + CPAs (“BPB”).
These filings mark a significant milestone in ScanTech AI’s Nasdaq re-compliance and financial reporting program. The restatement follows the Company’s prior determination of non-reliance on previously issued interim financials, and reflects adjustments identified during the transition to BPB as the Company’s independent auditor. The reviewed Q2 2025 financials provide investors with an independently evaluated view of the Company’s financial position at the time. The Company continues to work toward finalizing and filing its Q3 2025 financial statements, with the aim to bring the company back into compliance with filings by early December 2025.
James White, Chief Financial Officer of ScanTech AI Systems, said, “We are pleased to complete our restated Q1 and reviewed Q2 2025 filings under our new auditor. This step reinforces our commitment to accuracy, transparency and timely reporting. It supports the integrity of our financial disclosures and advances our ongoing Nasdaq compliance roadmap.”
The Company believes that these filings represent a milestone in the Company’s alignment of its governance, audit, and financial disclosure with best-practices. The Company remains focused on its broader plan — including strategic financing initiatives and operational execution — to support long-term growth, innovation, and shareholder value.
About ScanTech AI
ScanTech AI Systems Inc. (Nasdaq: STAI) develops AI-driven security screening and imaging technologies used in aviation, logistics, nuclear, and defense applications. Its flagship SENTINEL® CT platform integrates machine learning with high-resolution imaging to detect and identify threats with precision and speed.
For more information, visit www.scantechais.com and investor.scantechais.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by terminology such as “may,” “should,” “could,” “would,” “will,” “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “continue,” “potential,” and similar expressions. Forward-looking statements are based on current expectations, estimates, forecasts and assumptions of management. Words such as “expects,” “intends,” “plans,” “believes,” “seeks,” “may,” “will,” “should,” “anticipates,” or the negative or plural of these words, and similar expressions are intended to identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.
These statements include, but are not limited to, the Company’s plans and expectations regarding the effectiveness of its Nasdaq re-compliance program, future financial reporting, potential financing, capital needs, operations, and overall business strategy. These forward-looking statements are subject to a number of risks, uncertainties and other factors, many of which are beyond the Company’s control, that could cause actual results to differ materially from those expressed or implied in or by these forward-looking statements. These risks include, among others: deteriorating or volatile market conditions; risks relating to the Company’s ability to comply with Nasdaq listing standards and maintain such compliance on an ongoing basis; risks related to the accuracy, timing, and continued availability of financial reporting; the volatility associated with equity financings and the Company’s ability to secure required capital on acceptable terms; operational, regulatory, and technological risks inherent in the security-technology sector; adoption, performance, and commercial viability of the Company’s products; integration and oversight risks related to the transition to a new independent auditor; and other factors described in the Company’s filings with the SEC.
Readers should not place undue reliance on these forward-looking statements, which speak only as of the date of this release. ScanTech AI undertakes no obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
No Offer or Solicitation
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company, nor shall there be any sale of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Media Contact:
ScanTech AI Systems Inc.
D. Williams Sr. VP Sales & Investor/Government Relations
dwilliams@scantechais.com
Investor & Media Relations Contact:
International Elite Capital Inc.
Annabelle Zhang
+1(646) 866-7928
annabelle@iecapitalusa.com
FAQ
What did ScanTech AI (STAI) file with the SEC on November 28, 2025?
Why did ScanTech AI (STAI) restate Q1 2025 financials?
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Do the reviewed Q2 2025 financials change ScanTech AI's historical reporting?
