Cutera delays release of 10-K due to ‘material weakness’ in internal control

The company stated in a filing last night: "Cutera is unable, without unreasonable effort and expense, to file its Annual Report on Form 10-K for the year ended December 31, 2022 by the March 1, 2023 filing deadline. Additional time is required to complete the Form 10-K, including the financial statements that will be filed as part of the Form 10-K and management’s assessment of the Company’s internal control over financial reporting. In addition, the Company has identified and expects to disclose in the Form 10-K material weaknesses in its internal control over financial reporting related to ineffective information technology general controls and ineffective inventory count controls. The Company expects to file the Form 10-K within the fifteen day grace period prescribed by Rule 12b-25."