Restated financials

Restated financials are corrected versions of a company's financial statements that were previously released with errors or omissions. When a company discovers mistakes in its reported numbers—like miscalculated revenue or misclassified expenses—it files an amendment with the SEC (the government agency that oversees stock markets) to set the record straight. You'll see this mentioned in SEC filings, and it matters because accurate financial data is how you evaluate whether a company is actually profitable or healthy. For example, if TechCorp initially reported $100 million in revenue but later restated it to $85 million due to accounting errors, investors need that corrected number to make informed decisions. While restatements aren't always red flags, frequent ones can signal sloppy accounting practices.