Definitely seems like that's the case here.
To be fair, in 2022 they got a new CFO, their accounting manager quit, the senior accountant that replaced the accounting manager quit, the Director of Accounting quit (all of this within a couple months of each other), then towards the beginning of this year their 2 staff accountants quit, as well as their director of SEC reporting. All sorts of shenanigans going on, although definitely agree that's probably not the reason for the late filing here.