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- Delisting (new) — Company received formal notice of potential delisting from Nasdaq due to multiple listing rule violations.
DevvStream faces Nasdaq delisting after failing net income and bid price requirements
Filed May 22, 2026 · Period ending May 20, 2026 · ~1 min read
Key Changes
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DevvStream failed to meet Nasdaq's $500,000 minimum net income requirement by the May 18, 2026 deadline despite receiving a compliance extension. The Hearings Panel will now consider this deficiency alongside bid price violations when deciding whether to delist the company.
Item 3.01 verify on EDGAR → -
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The company's stock closed below $1.00 for 30 consecutive business days (Feb 23 - Apr 6, 2026), violating Nasdaq's minimum bid price rule. DevvStream is ineligible for the standard compliance period because it already executed a reverse stock split within the prior year.
Item 3.01 verify on EDGAR → -
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A Nasdaq Hearings Panel hearing was held May 19, 2026 to address the bid price deficiency. The Panel will consider both the bid price and net income violations in determining whether DevvStream can remain listed on Nasdaq.
Item 3.01 verify on EDGAR → -
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DevvStream has until May 27, 2026 to submit a written response to the Hearings Panel addressing the net income deficiency. The company acknowledges there is no assurance it will regain compliance or maintain its Nasdaq listing.
Item 3.01 verify on EDGAR →
Summary
DevvStream Corp. disclosed it is facing potential delisting from Nasdaq after failing to meet two critical listing requirements. The company missed the May 18, 2026 deadline to regain compliance with Nasdaq's minimum $500,000 net income requirement, despite having received an extension earlier this year.
Separately, the company's stock price fell below $1.00 for 30 consecutive business days ending April 6, 2026, triggering a bid price violation. The situation is particularly urgent because DevvStream already executed a reverse stock split within the past year, making it ineligible for the standard compliance period typically granted for bid price deficiencies.
A Nasdaq Hearings Panel held a hearing on May 19, 2026 to consider the company's appeal. The Panel will now evaluate both violations when deciding whether to allow DevvStream to remain listed. The company has until May 27, 2026 to submit a written response addressing the net income deficiency, but has acknowledged there is no guarantee it will regain compliance or maintain its listing. Retail investors should watch for the Panel's decision, which could result in the company's shares moving to over-the-counter trading if delisting proceeds.
Section-by-Section Diff
Event · Item 3.01 — Notice of Delisting or Failure to Satisfy a Continued Listing Rule
Item 3.01 — Notice of Delisting or Failure to Satisfy a Continued Listing Rule filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
Accordingly, the Company requested a hearing before the Panel to address the Bid Price Deficiency. Such hearing occurred on May 19, 2025.
DevvStream exercised its right to appeal the delisting decision by requesting a hearing before a Nasdaq Hearings Panel. The hearing took place on May 19, 2026 (note: the 8-K contains a typo stating 2025). The Panel will now consider both the bid price and net income deficiencies in determining whether the company can remain listed on Nasdaq.
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Figures/quotes linked to EDGAR · Narrative written by AI · May 26, 2026 · How we verify