secwatch.observer — SEC 8-K summary
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Issuer:     Thoughtworks Holding, Inc. (—)
CIK:        0001866550
Form:       8-K
Filed at:   2024-02-12T23:59:59+00:00
Accession:  0001866550-24-000006
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 4.02
LLM model:  deepseek-v4-flash:cloud@v2

Thoughtworks restates Q2 and Q3 2023 cash flows; material weakness in internal controls
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- Will restate cash flow statements for quarters ended June 30 and Sept 30, 2023 due to misclassification of $14.0M contingent consideration payment.
- Payment related to Connected Lab acquisition moved to financing activities; operating cash flow for those periods was understated.
- Free cash flow for nine months ended Sep 30, 2023 restated to $30.2M from $16.3M.
- Material weakness identified in internal controls over discrete, non-routine cash flow transactions; disclosure controls deemed ineffective.
- Net cash, balance sheet, and income statement for the periods were not affected.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1866550/000186655024000006/0001866550-24-000006-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1866550/000186655024000006/twks-20240206.htm
  HTML page:      https://secwatch.observer/filing/0001866550-24-000006

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