Press release
Nutanix Receives Notification of Deficiency from Nasdaq Related to Delayed Quarterly Report on Form 10-Q
SAN JOSE, Calif.--(BUSINESS WIRE)-- Nutanix, Inc. (NASDAQ: NTNX), a leader in hybrid multicloud computing, today announced that, on March 15, 2023, the
About this update from Nutanix, Inc.
[{"type":"text","content":" SAN JOSE, Calif.--(BUSINESS WIRE)--\nNutanix, Inc. (NASDAQ: NTNX), a leader in hybrid multicloud computing, today announced that, on March 15, 2023, the Company received a standard notification letter from Nasdaq stating that, because the Company has not yet filed its Quarterly Report on Form 10-Q for the quarter ended January 31, 2023, the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of all required periodic financial reports with the Securities and Exchange Commission (the “SEC”).\n\nThe 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, Nasdaq 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. The Company expects to submit a plan to regain compliance or file its Form 10-Q within the timeline prescribed by Nasdaq.\n\nForward-Looking Statements\n\nThis press release contains express and implied forward-looking statements, including, but not limited to, statements regarding our expectations regarding our plan to regain compliance or file our Form 10-Q within the timeline prescribed by Nasdaq. These forward-looking statements are not historical facts and instead are based on our current expectations, estimates, opinions, and beliefs. Consequently, you should not rely on these forward-looking statements. The accuracy of these forward-looking statements depends upon future events and involves risks, uncertainties, and other factors, including factors that may be beyond our control, that may cause these statements to be inaccurate and cause our actual results, performance or achievements to differ materially and adversely from those anticipated or implied by such statements, including, among others: delays in our ability to complete the previously announced Audit Committee investigation and finalize our financial results in a timely manner; the risk that the Audit Committee investigation identifies errors, which may be material, in the Company’s historical financial results; the finalization of management’s assessment of the effectiveness of the Company’s...