Evolv Technologies (EVLV) said late Friday it has been notified by Nasdaq that it is not in compliance with the listing rule due to the delayed filing of its Form 10-Q report for the quarter ended Sept. 30.
The company attributed the delay to an internal investigation, which it said has substantially been completed, into certain sales practices that impacted revenue recognition and other metrics.
Evolv said it has been given until Jan. 20 to submit a plan to Nasdaq to comply with the listing rule. If accepted, the stock exchange could grant the company until May 19 to regain compliance.
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