Polestar (NASDAQ:PSNY) announced another delay in releasing their 2023 earnings report on Tuesday. The Chinese-backed Swedish electric car company saw its stock prices drop by 10% after hours.

The delay comes as the company needs more time to correct mistakes in their financial records for 2021 and 2022. Specifically, they're looking at a slight decrease in net loss for 2021 by less than 5% and a similar increase for 2022.

Polestar explained they require additional time to complete a review of their financial control processes, a requirement under the Sarbanes-Oxley Act of 2002.

This isn't the first time Polestar postponed their financial results for 2023; the initial delay was announced back in late February to ensure they met compliance regulations.

In other news from Polestar, they reported delivering around 7,200 cars in the first quarter of the year, including 1,200 of their Polestar 4 model in China.