DelistingMay 22, 2026, 04:13 PM
DevvStream Faces Nasdaq Delisting Over Net Income & Bid Price Deficiencies
AI Summary
DevvStream Corp. faces potential delisting from Nasdaq after failing to regain compliance with the Net Income Requirement by the May 18, 2026, deadline. This follows an earlier notification on April 7, 2026, regarding non-compliance with the Minimum Bid Price Rule, for which the company is ineligible for a compliance period due to a prior reverse stock split. A Nasdaq Hearings Panel, which met on May 19, 2026, will now consider both deficiencies in its decision regarding the company's continued listing.
Key Highlights
- DevvStream received a Net Income Notice on November 18, 2025, for not meeting the $500,000 net income requirement.
- Nasdaq granted an extension until May 18, 2026, for the company to comply with the Net Income Requirement.
- On May 20, 2026, DevvStream was formally notified of continued non-compliance with the Net Income Requirement.
- Received a Bid Price Notice on April 7, 2026, for common shares closing below $1.00 for 30 consecutive business days.
- The company is ineligible for a bid price compliance period due to a reverse stock split in the prior year.
- DevvStream requested a hearing before a Nasdaq Hearings Panel, which occurred on May 19, 2026.
- The Panel will consider both the Net Income Deficiency and the Minimum Bid Price Rule non-compliance in its decision.
- The company intends to present its views on the Net Income Deficiency to the Panel in writing by May 27, 2026.
Price Impact
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