Pathward Financial restates financials for FY2023-2024 and interim periods; cites accounting errors

PATHWARD FINANCIAL, INC.

Non-reliance on FY2023, FY2024, and interim periods through March 31, 2025; errors in gross vs. net basis accounting for third-party lending.
Affected loan portfolio $207.0M at March 31, 2025 and $218.3M at September 30, 2024; total loans net $4.39B and $4.03B.
Change does not impact total net income over portfolio life (~14 months duration) but alters timing, lowering net income in early periods.
Material weakness in internal controls over financial reporting identified; remediation plan to be described in Q2 2025 Form 10-Q.

item 4.02

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