NEW YORK - Collective Audience, Inc. (NASDAQ-GM: CAUD), a company specializing in audience-based advertising and media, has received another notification from Nasdaq's listing qualifications department regarding non-compliance with the exchange's filing requirements.
The notice, which pertains to the delayed submission of the company’s quarterly report for the period ending March 31, 2024, follows a similar alert issued on April 25. The company has been given until June 24, 2024, to submit a plan to regain compliance.
CEO Peter Bordes has attributed the delay to the extensive de-SPAC transaction completed at the end of the previous year, which has prolonged the accounting process. Bordes assured that the company intends to file the overdue Form 10-Q before the June deadline and is working towards strengthening its reporting foundation.
In the interim, Collective Audience has continued to progress in its operations, including the launch of AudienceDesk™ powered by AudienceCloud™, an AdTech platform. Moreover, the company has announced the appointment of new board members, the formation of two major partnerships, and the pending closure of two acquisitions that are expected to be significantly accretive.
Despite the setbacks in reporting, Bordes expressed confidence in the company's growth strategy and its ability to meet Nasdaq's compliance requirements and build long-term shareholder value. Details on the Nasdaq notifications can be found in the Form 8-K filed by the company with the SEC.
Collective Audience aims to revolutionize the digital advertising and media ecosystem with its interconnected platform that leverages AI and audience data. The platform is designed to eliminate inefficiencies for brands, agencies, and publishers, and to enhance performance, brand reach, and transactions.
This news article is based on a press release statement from Collective Audience, Inc. The forward-looking statements included in the press release are subject to various risks and uncertainties and are not guarantees of future performance. The company's actual results may differ materially from those projected in the forward-looking statements.
InvestingPro Insights
As Collective Audience, Inc. (NASDAQ-GM: CAUD) navigates its way through compliance challenges and operational advancements, real-time data from InvestingPro provides a snapshot of the company's financial health. With a market capitalization of just 5.9 million USD, the company's size is relatively small in the vast field of advertising and media.
This is underscored by a notable revenue growth of 7.79% over the last twelve months as of Q1 2023, indicating some positive momentum in its business operations. Still, the company’s gross profit margin remains low at 6.97%, reflecting one of the InvestingPro Tips that points to weak gross profit margins as a potential area of concern.
InvestingPro Tips also highlight that Collective Audience's stock price has experienced significant volatility, which could be of interest to investors looking for short-term trading opportunities or those concerned about market stability. Moreover, the stock has not been immune to broader market trends, often moving in the opposite direction of the market, suggesting a degree of idiosyncratic risk that investors should be aware of.
For those considering an investment in Collective Audience, it is worth noting that the company's stock has seen a precipitous decline over the last year, with a one-year price total return of -95.98%. The current price stands at just 1.19% of its 52-week high, which could signal a potential entry point for value seekers, although it is essential to consider the underlying fundamentals and the company’s ability to turn its fortunes around.
Investors looking to delve deeper into Collective Audience's performance and gain access to additional insights can find more InvestingPro Tips at https://www.investing.com/pro/CAUD. There are 10 additional tips available, which could provide further guidance on the company's stock. To get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, readers can use coupon code PRONEWS24.
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