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. Daktronics also disclosed that it "also expects to conclude that its disclosure controls and procedures and internal control over financial reporting were not effective as a result of material weaknesses."