---
schema_version: "secwatch.filing_event.v1"
accession: "0001101680-23-000048"
form_type: "8-K"
ticker: null
cik: "0001101680"
company_name: "DZS INC."
filed_at: "2023-06-01T23:59:59+00:00"
generated_at: "2026-06-14T08:57:27.481528+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# DZS restates Q1 2023 revenue by ~$15M, cuts FY2023 revenue guidance to ~$370M

## Summary
- Restatement due to timing of revenue recognition on two customer projects; ~$15M revenue reclassification, majority expected in Q2/Q3 2023.
- FY2023 revenue guidance reduced to ~$370M (from ~$400M); adjusted EBITDA guidance cut to $15-22M (from $22-27M).
- Q2 2023 earnings guidance withdrawn due to uncertainty in revenue timing from restatement.
- Customers in good standing and have begun paying; total RPOs of $304M as of March 31, 2023.

## SEC filing metadata
- accession: 0001101680-23-000048
- form_type: 8-K
- cik: 0001101680
- company_name: DZS INC.
- filed_at: 2023-06-01T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 4.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1101680/000110168023000048/0001101680-23-000048-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1101680/000110168023000048/dzsi-20230531.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001101680-23-000048
- JSON: https://secwatch.observer/filing/0001101680-23-000048.json
- Plain text: https://secwatch.observer/filing/0001101680-23-000048.txt

## Key facts
- Auditor Changes
  DZS INC. reported that prior financial statements should not be relied upon.
  - Action: non reliance
  - Auditor: Ernst & Young LLP
  source text: determined that the Company’s unaudited condensed consolidated financial statements for the Subject Period should no longer be relied upon and should be restated
  evidence_url: https://www.sec.gov/Archives/edgar/data/1101680/000110168023000048/0001101680-23-000048-index.htm

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