QMMM Holdings Limited received a notice from Nasdaq on February 18, 2026, stating the company was not in compliance with Nasdaq Listing Rule 5250(c)(1) because it had not filed its annual report on Form 20‑F for the fiscal year ended September 30, 2025. The notice was announced on February 23, 2026.
Under Nasdaq rules, QMMM has 60 calendar days to submit a compliance plan. If Nasdaq accepts the plan, the company may receive an exception of up to 180 calendar days, extending the deadline to August 17, 2026, to file the required report. If the plan is not accepted, QMMM can appeal to a Hearings Panel. The notice does not immediately affect trading, and the company’s Class A Ordinary Shares remain listed on Nasdaq.
The notice comes amid a period of operational headwinds. QMMM’s revenue fell 46.6% year‑over‑year to $2.7 million for FY 2024, down from $2.81 million in FY 2023. Gross margin contracted to 15.38% from 22.45% in FY 2023, and operating margin worsened to –58% from –46.5% the prior year. Earnings per share were –$0.17 for FY 2024, compared with a positive EPS in FY 2023.
QMMM has a history of compliance challenges, including a Nasdaq Minimum Bid Price Deficiency Letter issued in February 2025. The company is working with its accounting, audit, and legal teams to prepare a compliance plan and intends to file the Form 20‑F as soon as possible. No analyst commentary or market reaction beyond the statement that trading is unaffected has been reported.
The Nasdaq notice signals a potential risk to QMMM’s listing status and underscores the company’s need to address its financial reporting and governance processes. Investors will be watching the company’s compliance plan and any subsequent filing for signs of improved governance and financial stability.
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