Correct, what audiojedi said. It says it is doing an initial update when you initially get going but that is just the phone app.
To do the firmware upgrade to the NT-505 itself you need to use a PC (not mac) and use a physical cable to connect to the little micro USB port on the back at bottom just above the word "Digital" (which is confusing because the "Digital In" label refers to the optical input, not the micro USB, which isn’t labeled).
To do the firmware upgrade to the NT-505 itself you need to use a PC (not mac) and use a physical cable to connect to the little micro USB port on the back at bottom just above the word "Digital" (which is confusing because the "Digital In" label refers to the optical input, not the micro USB, which isn’t labeled).