Graphjet Technology discloses notice from Nasdaq
Graphjet Technology (GTI) announced that it received a determination letter on June 4, 2025 from the Listing Qualifications Department of The Nasdaq Stock Market indicating, as a result of (i) the Company's delay in filing its Annual Report on Form 10-K for the period ended September 30, 2024 with the Securities and Exchange Commission and (ii) the Company's delay in filing its Quarterly Report on Form 10-Q for the period ended December 31, 2024, that the Company was not in compliance with the requirements for continued listing under Nasdaq Listing Rule 5250(c)(1), that the Company's request for continued listing on Nasdaq was denied, that trading of the Company's Class A Ordinary Shares will be suspended at the opening of business on June 13, 2025, and that a Form 25-NSE will be filed with the SEC, which will remove the Company's securities from listing and registration on Nasdaq. The Company intends to request a hearing before the Nasdaq Hearings Panel, and this request will stay the suspension of the Company's Common Stock for a period of 15 days from the date of the request. In connection with this request, the Company plans to also request a stay of the suspension pending the hearing.
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A: Brian Robins, CFO: The quarter's results were as expected, with a mix favoring SaaS and back-end weighted linearity. The guidance remains unchanged, assuming consistent macroeconomic conditions. The growth in RPO, CRPO, and billings indicates strong underlying demand, despite a slightly narrower beat compared to previous quarters. Q: How is AI adoption affecting job growth in the software developer market, and what are the implications for GitLab? A: Bill Staples, CEO: AI is seen as a productivity enhancer rather than a job threat. Historically, advances in productivity have led to more opportunities. AI will likely increase the number of code creators and the volume of code, benefiting GitLab. Brian Robins, CFO, added that developer hiring is turning positive, and GitLab's market opportunity remains vast. Q: How does GitLab plan to capture value from AI-driven enhancements, given the current pricing model? A: Bill Staples, CEO: GitLab is focusing on creating value through AI by enhancing collaboration between humans and agents, maintaining security and privacy, and leveraging its unified platform for better context and outcomes. The introduction of Duo Chat and code suggestions in Premium and Ultimate tiers is part of a strategy to lower adoption barriers and provide a smooth upgrade path to more advanced AI capabilities. Q: What are the key differentiators in GitLab 18, and why were certain features included without additional charges? A: Bill Staples, CEO: GitLab 18 introduces centralized artifact management, improved CICD pipelines, and enhanced security features. The inclusion of Duo Chat and code suggestions in Premium and Ultimate tiers aims to eliminate adoption barriers and provide a seamless upgrade path. The strategy is to offer a friction-free AI experience, encouraging broader adoption and eventual upgrades to more comprehensive solutions. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
