SAN FRANCISCO, April 25, 2024 /PRNewswire/ — Autodesk, Inc. (NASDAQ: ADSK), the company behind some of the most innovative design and engineering solutions, announced today that it had received a notice from the Listing Qualifications Staff of The Nasdaq Stock Market LLC on April 19, 2024. This notice outlined that the company was not in compliance with Nasdaq's Listing Rule 5250(c)(1), commonly referred to as the "Listing Rule," due to its delay in filing the annual report on Form 10-K for the fiscal year ending January 31, 2024.
This delay was first mentioned in the Form 12b-25 Notification of Late Filing submitted to the Securities and Exchange Commission (SEC) on April 1, 2024, as well as in a press release issued on April 16, 2024. According to Nasdaq's Listing Rule, listed companies must ensure timely submissions of all required SEC periodic reports.
While the notice has not impacted the listing or trading of Autodesk's common stock on the Nasdaq Global Select Market yet, the company now has 60 calendar days from the date of the notice to present a compliance plan to Nasdaq. If approved, Nasdaq may extend the deadline for up to 180 calendar days from the original due date of the Form 10-K, pushing it back to October 14, 2024. The company remains committed to regaining compliance with Nasdaq's standards as swiftly as possible.
The initial delay in filing the Form 10-K was primarily due to an ongoing internal investigation into certain matters. As disclosed earlier, this investigation continues to progress, with all stakeholders working diligently to wrap things up and finalize the Form 10-K submission. While the focus of the investigation hasn't changed, the company still doesn’t see any evidence suggesting that the issues under scrutiny have affected previous financial statements or the earnings release from February 29, 2024.
**Safe Harbor Statement**
This press release includes forward-looking statements that come with inherent risks and uncertainties. These include projections about the timeline and expectations for the internal investigation conducted by the audit committee and the eventual filing of the Form 10-K, along with plans to comply with Nasdaq regulations. Other forward-looking statements relate to the company's future performance and strategic initiatives. Actual outcomes may vary significantly from these projections due to several factors. These include the discovery of new information during the investigation, the final conclusions drawn by the audit committee, the timing of reviews by the independent auditors, and uncertainties regarding the company's ability to meet Nasdaq's listing requirements within the stipulated timeframe.
For more details on potential risks and uncertainties, refer to Autodesk's Form 10-K for the fiscal year ending January 31, 2023, and subsequent quarterly filings with the SEC. The company does not intend to update these forward-looking statements unless legally obligated to do so.
**About Autodesk**
Autodesk is reshaping the way the world designs and builds. Their suite of tools spans various sectors like architecture, engineering, construction, product design, and manufacturing, empowering creators globally to tackle diverse challenges. From sustainable architectural projects to advanced product innovations, Autodesk's technologies play a pivotal role in creating a better future. To learn more, visit autodesk.com or follow @autodesk. #MakeAnything
Autodesk uses its investor relations website to disclose key non-public information, announce participation in investor events, and adhere to Regulation FD disclosure obligations. Be sure to keep an eye on this platform alongside regular press releases, SEC filings, and public conference calls.
Trademark notices apply to brands such as Autodesk, AutoCAD, AutoCAD LT, BIM 360, and Fusion 360, among others. All other trademarks belong to their respective owners. Specifications and product offerings are subject to change without prior notice.
© 2024 Autodesk, Inc. All rights reserved.
SOURCE: Autodesk, Inc.
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