---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-050175"
form_type: "8-K"
ticker: null
cik: "0001834045"
company_name: "Vintage Wine Estates, Inc."
filed_at: "2023-09-27T23:59:59+00:00"
generated_at: "2026-06-10T08:16:10.773998+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Vintage Wine Estates restates FY2023 quarterly results, lowers revenue view to ~$280M

## Summary
- Non-reliance on prior Q1-Q3 FY2023 financials; restatements due to accounting errors including $10.7M deferred gain and $4.7M revenue reversal.
- Preliminary FY2023 revenue lowered to ~$280M (from ~$290M); gross margin ~30%.
- Filing of FY2023 10-K delayed; seeking credit agreement amendment for covenant relief within two weeks.
- Seth Kaufman to join as President & CEO on October 30, 2023.
- FY2024 guidance reaffirmed: revenue $250-270M, gross margin 37-39%, SG&A $95-105M.

## SEC filing metadata
- accession: 0000950170-23-050175
- form_type: 8-K
- cik: 0001834045
- company_name: Vintage Wine Estates, Inc.
- filed_at: 2023-09-27T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 4.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1834045/000095017023050175/0000950170-23-050175-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1834045/000095017023050175/vwe-20230925.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-050175
- JSON: https://secwatch.observer/filing/0000950170-23-050175.json
- Plain text: https://secwatch.observer/filing/0000950170-23-050175.txt

## Key facts
- Auditor Changes
  Vintage Wine Estates, Inc. reported that prior financial statements should not be relied upon.
  - Action: non reliance
  - Auditor: Cherry Bekaert LLP
  source text: The Company’s management and the Audit Committee have discussed the matters disclosed in this Item 4.02 with the Company’s independent registered public accounting firm, Cherry Bekaert LLP. Due to the impact of the above matters on the Company’s ability to timely file its financial statements, the Company intends to file a Form 12b-25 (NT 10-K) to extend the filing date for the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1834045/000095017023050175/0000950170-23-050175-index.htm
- Earnings Releases
  Vintage Wine Estates, Inc. reported fiscal year ended June 30, 2023 results: revenue approximately $280 million.
  - Period: fiscal year ended June 30, 2023
  - Revenue: approximately $280 million
  - Result: preliminary results
  source text: The Company’s preliminary unaudited financial results for fiscal 2023 are estimated to be as follows: Previous Expectations Current Expectations Preliminary unaudited revenue: Approximately $290 million Approximately $280 million Gross margin: 30% to 32% Approximately 30% SG&A: $118 million to $122 million Approximately $119 million Non-cash amortization expense $7 million to $7.5 million Approximately $7.3 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1834045/000095017023050175/0000950170-23-050175-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.