---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-061363"
form_type: "8-K"
ticker: null
cik: "0001810140"
company_name: "Polished.com Inc."
filed_at: "2023-07-31T23:59:59+00:00"
generated_at: "2026-06-12T22:13:24.578281+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Polished.com restates FY2021, reports FY2022 net loss of $126M, provides Q1 2023 results and lowered guidance

## Summary
- Restated FY2021 net loss $7.6M vs. previously reported net income $7.7M; revenue reduced by $16.6M.
- FY2022 net loss $126M ($1.18/diluted share) driven by $109.1M impairment; net sales $534.5M.
- Q1 2023 net sales $95.4M (down 36% YoY), net loss $2.8M ($0.03/share), adjusted EBITDA $1.9M.
- Q2 2023 guidance: net sales $85-90M, low-single-digit EBITDA margins; full year net sales $375-400M.
- Amended credit agreement requires loan repayment by Aug 31, 2024; cash $8.7M, debt $102.8M as of June 30.

## SEC filing metadata
- accession: 0001213900-23-061363
- form_type: 8-K
- cik: 0001810140
- company_name: Polished.com Inc.
- filed_at: 2023-07-31T23:59:59+00:00
- event_type: earnings
- 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/1810140/000121390023061363/0001213900-23-061363-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1810140/000121390023061363/ea182620-8k_polished.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-061363
- JSON: https://secwatch.observer/filing/0001213900-23-061363.json
- Plain text: https://secwatch.observer/filing/0001213900-23-061363.txt

## Key facts
- Auditor Changes
  Polished.com Inc. reported that prior financial statements should not be relied upon.
  - Action: non reliance
  source text: the Company’s previously issued financial statements included in the Company’s Annual Report on Form 10-K for the period ended December 31, 2021, and Quarterly Report on Form 10-Q for the period ended March 31, 2022 (the “Affected Periods)” should no longer be relied upon
  evidence_url: https://www.sec.gov/Archives/edgar/data/1810140/000121390023061363/0001213900-23-061363-index.htm

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