Bitcoin price today: dips below $112k, near 6-wk low despite Fed cut bets
Aeries Technology, Inc. received a notice from Nasdaq on February 20, 2025, indicating that the company has not met the minimum bid price requirement for continued listing on the Nasdaq Capital Market. Currently trading at $0.55, down nearly 48% year-to-date and 77% over the past six months, the company’s Class A ordinary shares did not maintain the required $1.00 minimum closing bid price over 30 consecutive business days, as stipulated by Nasdaq Listing Rule 5550(a)(2).
Despite the notice, Aeries Technology’s shares will remain listed on the Nasdaq Capital Market for now. The company, with a market capitalization of $21.61 million, has 180 calendar days, until August 19, 2025, to regain compliance with the Bid Price Rule. To achieve this, the closing price of Aeries Technology’s Class A ordinary shares must be at or above $1.00 for at least 10 consecutive business days. InvestingPro analysis indicates the company’s overall financial health score is currently rated as WEAK, with multiple risk factors identified.
If Aeries Technology does not meet the requirement by the compliance deadline, it may be granted an additional 180-day period to regain compliance, provided it meets other initial listing standards, with the exception of the bid price. The company may consider implementing measures such as a reverse stock split to address the issue.
However, there is no guarantee that Aeries Technology will be able to regain or maintain compliance with the Nasdaq listing criteria. If compliance is not achieved within the given timeframe, or during any additional period granted, Nasdaq may issue a delisting notice, which the company can appeal.
The forward-looking statements in the SEC filing indicate that Aeries Technology plans to monitor its share price and explore options to rectify the bid price deficiency. With a concerning current ratio of 0.7 and trading at a P/E ratio of 1.14, the outcome of these efforts and the company’s ability to maintain its Nasdaq listing remain uncertain. For deeper insights into Aeries Technology’s financial health and future prospects, InvestingPro subscribers have access to over 15 additional key metrics and expert analysis in the comprehensive Pro Research Report.
This information is based on a press release statement filed with the SEC.
In other recent news, Aeries Technology Inc. reported its fourth-quarter earnings for 2024, revealing a strategic focus on North American clients, which now account for 93% of its revenue. The company achieved total revenues of $17.6 million, reflecting a 6.8% decline year-over-year, but North American revenue saw a 13.1% increase. Aeries Technology reported a net income of $2 million, a significant improvement from a loss of $16.3 million the previous year. The company is concentrating on AI and automation services as part of its transformation strategy, moving away from legacy models.
Looking ahead, Aeries Technology projects revenue between $71 million and $73 million for FY 2025, with core adjusted EBITDA expected to range from $6 million to $7 million. The company anticipates revenues between $74 million and $80 million for FY 2026, with adjusted EBITDA of $6 million to $8 million. CEO Ajay Khare emphasized the company’s strategic focus on high-value long-term engagements, while CFO Daniel Webb highlighted the company’s commitment to financial discipline and cash flow positivity. These developments underscore Aeries Technology’s ongoing efforts to leverage its AI capabilities and focus on long-term client engagements.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.