CREDITRISKMONITOR COM INC

CreditRiskMonitor.com, Inc. announced that its previously issued financial statements for several quarterly and annual periods should no longer be relied upon. This decision stems from a nexus study revealing uncollected sales and use tax and unfiled income taxes, leading to an expected restatement of financials. The company estimates approximately $1,767 thousand in sales tax liability and $210 thousand in income tax liability, and has identified a material weakness in its internal control over financial reporting.

CreditRiskMonitor.com, Inc. reported a significant decrease in net income for the first quarter of fiscal 2026, falling 63% to $58,312, despite a 2% increase in operating revenues to $4.99 million. The decline in profitability was primarily driven by a 10% rise in data and product costs and a 1% increase in selling, general, and administrative expenses. The company maintained a strong liquidity position with $5.72 million in cash and cash equivalents and no debt, and believes it has sufficient funds for the foreseeable future.