Nutanix, Inc. announced that, on March 15, 2023, it received a standard notification letter from Nasdaq stating that, because it has not yet filed its Quarterly Report on Form 10-Q for the quarter ended January 31, 2023, it is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of all required periodic financial reports with the SEC.
The Nasdaq notification has no immediate effect on the listing or trading of the company’s Class A common stock on the Nasdaq Global Select Market. Under Nasdaq listing rules, the company has 60 calendar days from the date of the letter to submit a plan to regain compliance. If Nasdaq accepts the plan, it can grant an exception of up to 180 calendar days from the 10-Q’s original due date, or until September 11, 2023, to regain compliance.
Nutanix expects to submit a plan to regain compliance or file its Form 10-Q within the timeline prescribed by Nasdaq.