ScanTech AI Systems Inc. (NASDAQ: STAI) filed its Form 10‑Q for the quarter ended September 30, 2025 on December 15, 2025, bringing the company into compliance with Nasdaq’s requirement that all listed issuers file periodic reports on time. The filing also confirms that the company’s securities remain listed while it pursues a hearing on the Nasdaq delisting determination issued on November 26, 2025.
The filing includes approval of a 1‑for‑20 reverse stock split that will become effective after market close on December 15, 2025, with split‑adjusted trading beginning on December 16. The reverse split is intended to lift the share price above Nasdaq’s minimum bid‑price threshold and to improve liquidity as the company seeks additional capital.
ScanTech’s financial position remains precarious. For the quarter ended September 30, 2025 the company reported a net loss of $34.5 million and held only $157,646 in cash, while its working‑capital deficit stood at $23.6 million. Management has stated that there is “substantial doubt” about the company’s ability to continue as a going concern without additional funding.
In addition to the reverse split, ScanTech has taken several steps to regain Nasdaq compliance: it has filed overdue reports, requested a hearing before the Nasdaq Hearings Panel scheduled for January 22, 2026, and applied to transfer its listing from the Nasdaq Global Market to the Nasdaq Capital Market. These actions are aimed at meeting the exchange’s listing standards and preserving the company’s public market status.
CEO Dolan Falconer emphasized that the company is “taking deliberate and substantive steps to address our Nasdaq compliance challenges and to restore procedural discipline across our reporting and governance processes.” The company’s focus remains on cost control, improving operational efficiency, and securing new capital to address its liquidity shortfall.
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