MIND CTI LTD

MIND CTI LTD received a letter from Nasdaq on June 23, 2026, indicating non-compliance with the minimum bid price requirement of $1 per share. The company's ordinary shares traded below $1 for 30 consecutive business days. MIND CTI has been granted a 180-calendar day compliance period until December 21, 2026, to regain compliance, either by maintaining a $1 bid price for ten consecutive days or by implementing a reverse stock split. The notice does not immediately affect the listing of its shares on Nasdaq.

MIND CTI LTD. announced leadership changes following the resignation of CEO Ariel Glassner. Monica Iancu, the company's founder and former CEO, has been appointed Interim CEO, effective July 1, 2026. Additionally, Orly Sorokin will transition from an independent Board member to Chief Business Officer, effective August 1, 2026, to lead strategic growth initiatives and business operations.

MIND CTI reported Q1 2026 results with revenues of $5.1 million, a slight increase from Q1 2025, and net income of $0.9 million, up from $0.5 million, primarily due to a prior year credit loss allowance. The company noted a challenging market and announced a major customer's non-renewal effective March 2027, which is expected to negatively impact future revenues. MIND CTI also provided an update on its share repurchase program and the resolutions approved at its Annual General Meeting.