AAON · AAON filed an amended 10-Q/A restating Q2 2026 financials due to…

AAON filed an amended 10-Q/A restating Q2 2026 financials due to revenue recognition errors in the BASX-branded revenue process and improper amortization of software subscriptions. The restatement increased net sales by $15.1M and net income by $10.5M for Q2 2026, and increased net sales by $10.7M and net income by $7.1M for H1 2026. A material weakness in internal controls over financial reporting was identified.

• Restatement due to revenue recognition errors under ASC 606 (percent of completion method) and improper software subscription amortization
• Q2 2026 net sales restated from $627.0M to $642.1M (+$15.1M); net income from $56.7M to $67.1M (+$10.5M)
• H1 2026 net sales restated from $1,123.9M to $1,134.7M (+$10.7M); net income from $96.5M to $103.6M (+$7.1M)
• Material weakness identified in internal controls over BASX-branded revenue process and financial close process