Online travel agency Yatra has said it is monitoring its share price following a non-compliance notice from Nasdaq.
The letter does not mean immediate delisting of Yatra shares and the company said it will look at options to regain compliance which could include a reverse stock split.
The company has 180 days, or until December 22 2026, to regain compliance.
Yatra’s letter from Nasdaq said the company's ordinary shares from May 12 to June 24 had not mainted a minimum closing bid price of $1 per share. The company will inform Nasdaq if the closing bid price hits $1 or more for 10 consecutive business days and shares will continue to be listed.
Yatra reported a 14% decrease to revenue of $201 million for the three months ended March 31. Adjusted EBITDA dipped 49% to $500,000 and the company’s loss for the period was .
Total gross booking increased 8% to $215 million and loss for the period was $1.6 million compared to $400,000 year over year.
Yatra's co-founder and CEO Dhruv Shringi moved to an executive chairman role late last year with Siddartha Gupta appointed as his replacement. Gupta joined with previous experience in digital transformation and scaling businesses in companies including SAP and HP.