Mitek Systems says Nasdaq panel grants request for continued listing

Mitek Systems reported that on April 1, 2024, the company received a decision from the Nasdaq Hearings Panel granting the company’s request for continued listing on the Nasdaq Capital Market, subject to the company filing its Quarterly Report on Form 10-Q for the quarter ended December 31, 2023, on or before April 15, 2024, which will bring the company into compliance with the Nasdaq Listing Rule 5250(c)(1), and certain other conditions. As previously disclosed, the Company received a delisting determination from the Listing Qualifications Department of The Nasdaq Stock Market LLC notifying the company that the Staff initiated a process to delist the company’s securities from Nasdaq as a result of the Company not being in compliance with the Listing Rule, which requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission, due to the company’s failure to timely file its Annual Report on Form 10-K for the fiscal year ended September 30, 2023. The company subsequently did not timely file the Q1 Form 10-Q because the Q1 Form 10-Q could not be prepared until the Form 10-K was filed.