Daktronics supplies electronic scoreboards, computer programmable display systems, and large video displays for sport, business, and government applications. On August 31, 2022, the Company issued a press release announcing its fiscal first quarter 2023 results, which included an 18% increase in operating expenses compared to Q1'22. The Company noted that it "experienced multiple material supply chain disruptions, labor shortages, and a shutdown of our facilities in Shanghai, China for a significant portion of the quarter." On this news, Daktronics' stock price fell by $0.91 per share, or approximately 22.10%, from $4.11 per share to $3.20 on August 31, 2022. On December 6, 2022, the Company filed a Form 12b-25 with the SEC stating that it would be unable to timely file its Quarterly Report on Form 10-Q for the period ended October 29, 2022, and that there is "substantial doubt" about the Company's ability to continue as a going concern.