---
schema_version: "secwatch.filing_event.v1"
accession: "0002001184-25-000031"
form_type: "8-K"
ticker: "PACS"
cik: "0002001184"
company_name: "PACS Group, Inc."
filed_at: "2025-06-16T23:59:59+00:00"
generated_at: "2026-05-19T07:08:24.231745+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# PACS Group restates Q1-Q2 2024 revenue; overstatement estimated at $61-65M

## Summary
- Audit Committee concludes Q1 2024 and Q2 2024 financials should no longer be relied upon.
- Revenue overstated by $15-17M for Q1 2024 and $46-48M for Q2 2024 due to Medicare Part B respiratory and therapy billing.
- Restatement linked to compliance uncertainties and revenue recognition under ASC 606; material weaknesses expected.
- Audit Committee investigation nearing completion; no integrity issues found for CEO, CFO, or CAO.
- Company remains delinquent on Q3 2024, FY 2024, and Q1 2025 filings; NYSE extended compliance deadline to Sept 2, 2025.

## SEC filing metadata
- accession: 0002001184-25-000031
- form_type: 8-K
- ticker: PACS
- cik: 0002001184
- company_name: PACS Group, Inc.
- filed_at: 2025-06-16T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 4.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2001184/000200118425000031/0002001184-25-000031-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2001184/000200118425000031/pacs-20250612.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0002001184-25-000031
- JSON: https://secwatch.observer/filing/0002001184-25-000031.json
- Plain text: https://secwatch.observer/filing/0002001184-25-000031.txt

## Key facts
- Auditor Changes
  PACS Group, Inc. reported that prior financial statements should not be relied upon.
  - Action: non reliance
  - Auditor: Ernst & Young LLP
  source text: mpany’s Quarterly Report on Form 10-Q filed with the SEC on August 12, 2024 (collectively, the “Prior Financial Statements,” and each such quarterly period in the six months ended June 30, 2024, the “Impacted Periods”), should no longer be relied upon. Similarly, any previously furnished or filed reports, related earnings releases, investor presentations or similar communications of the Company describing the Company’s financial results from the Impacted Periods should no longer be relied upon. As previously disclosed in the Company’s press release issued on November 6, 2024, furnished as Exhibit 99.1 to the Company’s Current Report on Form 8-K filed on November 6, 2024, the Company’s independent Audit Committee, with assistance from external counsel, has been conducting an independent investigation of third-party allegations. The Audit Committee has made substantial progress and is near
  evidence_url: https://www.sec.gov/Archives/edgar/data/2001184/000200118425000031/0002001184-25-000031-index.htm

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